Automotive Bumper Market Is Predicted To Reach USD 14,489.0 Million By 2023

Market Synopsis:
The global automotive industry has experienced a potential demand for light weight vehicles. Over the years it has been analysed that the demand for light weight vehicles has increased among the end users which in turn has put pressure on auto bumpers manufacturers to reduce the material weight. Major reasons that have propelled this decision is that light weight vehicle consumes less fuel and the emission rate, moreover, the governments of various countries have taken same initiatives. Owing to all these factors, the OEMs such as Compagnie Plastic Omnium, Faurecia Group, Magna International, Fab Fours and other have actively shifted their focus on reducing bumpers weights. Furthermore, the major automotive producers have also witnessed a strong demand for light weight vehicle due to the government’s initiative on less fuel consumption as light weight vehicles consumes less fuel consumption. Additionally, it has been observed that in North America and Europe, the government have made regulation on per miles average of vehicles and as per European automotive associations and US Corporate Average Fuel Economy (CAFE) standards, the amendments have been made for vehicles average, which ensures that vehicles must give average of around 34 miles per gallon. Thus, increasing demand of light weight bumpers will accelerate higher growth rate.

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Furthermore, with the increasing population, the demand for vehicles is also increasing, leading to an increase in the production of automobiles. Cars accounts for 75% of the total automobile segment and about 67% of the total auto bumper has found application in cars. This has led to an increase in cars manufactured and further boosting the auto bumper market. Overall, global car production is expected to rise by an annual average rate of 3.5% in the period from 2013 to 2017. Hence, with a growing car production, the demand for automotive bumper will simultaneously increase by the OEMs. However, fluctuating raw materials prices is expected to hinder the market growth.

Key Players of Automotive Bumper Market:
• Toyota Boshoku Corporation (Japan)
• Plastic Omnium (France)
• Magna International, Inc. (Ontario)
• Toyoda Gosei Co., Ltd (Japan)
• SMP Deutschland GmbH (Germany)
• Yanfeng Plastic Omnium automotive Exterior Systems Co. Ltd (Shanghai)
• JiangNan Mould & Plastic Technology Co., Ltd. (Japan)
• Venture Otto SA (Pty) Ltd. (South Africa)
• NTF (India) Private Ltd (India)
• Fab Fours, Inc. (U.S.)

Market Research Future Analysis:
On the basis material, it includes composite plastic, metal and fiber. Composite plastic holds the largest market share by material types in global automotive bumpers market with a market share of 55.60% in 2016. Based on positioning, the market is segmented into front ends and rear ends. Among these, front end positioning has augmented the largest market in terms of value.

Currently, Asia-Pacific is dominating the market with increasing vehicle production in countries such as India and China and the increasing production capacity. The market in the developing countries is largely driven by economic growth and ongoing industrialization, which is likely to lead to considerable production of motor vehicles and other manufacturing output. North America accounted for the second-largest share in 2016, owing to factors such as large customer base and high disposable income of end-users which fueled the demand for vehicles in the country, thereby positively impacting the automotive bumper market.

Scope of the Report:
This study provides an overview of the market, tracking three market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for Asia-Pacific, North America, Europe and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the market by its material, by positioning, by end market and regions.

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