Prosperity of Industrialization to Drive Automotive Bumpers Market During 2017 - 2025
Increasing production of vehicles and rising demand for passenger vehicles is a major driving factor for the automotive bumpers market. In addition, rising trend of engine downsizing is another major factor influencing the growth of light-weight and advanced bumpers ensuring better protection in front and rear of vehicles. Moreover, growth in the automotive sector and rising investments in automotive bumper manufacturing companies across the world is set to influence the market significantly during the forecast period. International automobile safety standards, Euro standards and U.S. CAFÉ standards among other safety regulations has been encouraging the use of light in weight and strong bumper materials in vehicles. Automakers across the world are intensifying their efforts to manufacture advanced light-weight bumpers, which can withstand large amount of pressure, thereby increasing the safety in vehicles along with improving the fuel efficiency.
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The automotive bumpers market can be classified by material, by position, by application and by geography. The material segment can be classified into steel, aluminum, molded plastic and others. By position, the market can be bifurcated into front and rear. By application, the market can be segregated as passenger vehicles, light commercial vehicles and heavy commercial vehicles. By geography, the market can be segmented into North America, Europe, Asia Pacific, Middle East and Africa and Latin America.
In the automotive bumpers market, Asia Pacific holds the largest market share in terms of revenue followed by Europe, North America, Latin America and, Middle East and Africa (MEA). In the Asia Pacific region, countries such as China and India has been witnessing heavy demand and production for passenger vehicles. This in turn is increasing the application of bumpers in passenger vehicles of above mentioned countries. In Europe, Germany is the most significant market and the largest contributor to the automotive bumpers market in the region because of the presence of major automobile manufactures in Germany. In North America, the U.S. is the largest market for automotive bumpers. The U.S. is the second largest manufacturer of automobiles in the world. The growth rate of automotive bumpers market in Latin America, and Middle East and Africa is low considering the less usage and production of vehicles in the aforementioned regions. However, with the growth in the automotive sector and investments in automobile companies of Latin America and Middle East and Africa, the market for automotive bumpers is expected to improve in the coming years.
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The report also provides company market share analysis of the various industry participants. Acquisition is the main strategy being widely followed by leading market players. In case of an acquisition, the acquirer takes advantage of existing synergies. As a result, both companies are expected to emerge more profitable and stronger than before. Key players in the global automotive bumpers market have been profiled and their company overview, financial overview, business strategies and recent developments have been covered in the report. Major market participants profiled in this report include: Delphi Automotive, Valeo S.A., GKN, Hyundai Mobis Co. Ltd., Plastic Omnium and Magna International, Inc. among others.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
Transparency Market Research (TMR) is a next-generation provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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