Press release
Automotive Bumpers Market is Set to Garner Staggering Revenues by 2025
The growth of the global automotive bumpers market is driven by growing automotive industry, increasing rate of accidents, increasing traffic on road, government regulation, and increasing safety concerns. Macroeconomic factors including growing economy, population and employment, rising disposable income, and rapid rate of urbanization as well as industrialization also driving the global automotive bumpers market. The increase in a number of automotive results in rising concerns for greenhouse gas emissions which is one of the restraining factor of the global automotive bumpers market. Integration of value chain, increasing automation, the rapid rate of technological advancements and increasing investment in the automotive industry are some of the factors trending the global automotive bumpers market over the forecast period.
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Global Automotive Bumpers Market Segmentation:
The global automotive bumpers market is segmented by vehicle type, distribution channel, and region. By vehicle type, the global automotive bumpers market segmented into the commercial vehicle and passenger cars. Among these, the passenger segment is growing at a substantial value CAGR in global automotive bumpers market whereas commercial segment accounts for relatively high revenue share the forecast period. On the basis of distribution channel, the global automotive bumpers market segmented into wholesalers and distributors, component part manufacturer sales, specialist repairers and suppliers, franchised dealers, independent garages, and other supplier.
Among these, the wholesalers and distributors segment account for relatively high revenue share in global automotive bumpers market followed by component part manufacturer sales segment over the forecast period. Whereas, franchised dealers is expected to expand at relatively high growth rate. By material type, the global automotive bumpers market segmented into metal and polymers & composites. Wherein, the polymers & composites segment is growing at a substantial value CAGR in global automotive bumpers market with a relatively high revenue share the forecast period.
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On the basis of vehicle type, the global automotive bumpers market is segmented into: Commercial Vehicle, Heavy Motor Vehicle, Light Motor Vehicle, Passenger Cars. On the basis of distribution channel, the global automotive bumpers market is segmented into: Wholesalers and Distributors, Component Part Manufacturers Sales, Specialists Repairers and Suppliers, Franchised Dealers, Independent Garages, Other Supplier. On the basis of material type, the global automotive bumpers market is segmented into: Metals, High-strength Steel, Magnesium, Aluminum, Polymers & Composites, Carbon Fiber Reinforced Plastics, Glass Fiber Reinforced plastics, Other Polymer & Composite Materials.
Global Automotive Bumpers Market Regional Outlook:
On the basis of geographies, the global automotive bumpers market is segmented into seven regions — North America, Western Europe, Eastern Europe, Japan, Asia-Pacific except Japan, Latin America, and the Middle East & Africa. Among the regions, Western Europe accounts for a relatively high share of the global automotive bumpers market in terms of value, attributed to relatively high revenue share in the global automotive market.
North America is followed by Western Europe in global automotive bumpers market, owing to high demand for passenger cars across the region. Eastern Europe and Japan also accounts for significant value share in the global automotive bumpers market, owing to high technological advancement and high demand for premium vehicles across the regions. The Asia-Pacific is expected to register relatively high growth rate in the global automotive bumpers market over the forecast period, owing to the rapid rate of advancement in automotive industry across the region.
Latin America and Middle East Africa is expected to have relatively high opportunity for automotive bumpers market players, attributed to growing economy and industrialization. Overall, the outlook for the global automotive bumpers market will have a positive growth over the forecast period.
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Global Automotive Bumpers Market Player:
Few players in the global automotive bumpers market include ABC Group, Inc., Flex-N-Gate Corporation, Hwashin, Kuante Auto Parts Manufacture Co. Limited, Changshu Huiyi Mechanical & Electrical Co. Ltd., Stick Industry Co. Ltd., Magna International Inc., Plastic Omnium, Gestamp, Austem Company Ltd., and Gordon Auto Body Parts Co. Ltd.
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