Global Automotive Bumper Market 2018: Key Players – Toyota Boshoku Corporation, Plastic Omnium, Magna International, Toyoda Gosei

Automotive Bumper Market 2018

Global Automotive Bumper Market, By Material (Composite Plastic, Metal and Fiber), By Positioning (Front ends and Rear ends), By End Market (OEM and Aftermarket) and Region - Forecast 2017-2023

Market Synopsis:

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.

The major player operating in the market are 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) and Fab Fours, Inc. (U.S.).

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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.

Currently, Asia-Pacific is dominating the market with increasing vehicle production in countries such as India and China and is focused on increasing the production capacity, thus driving the market for automotive bumper. The government intervened immediately and lowered the VAT rate on small and medium-sized vehicles. Moreover, high production of vehicles, and low manufacturing cost are some of the factors that boost the market in Asia-Pacific. The market in the developing countries is largely driven by economic growth and ongoing industrialization, which is likely to raise the production of motor vehicles and other manufacturing output, considerably.

Bumper is the one of the important structures in the vehicle. The bumper design must be flexible enough to reduce the passenger and occupant injury and stay intact in low-speed impact. It is designed to prevent and reduce physical damage to the front and rear ends of the vehicles. The global automotive bumper market revenue is forecast to reach USD 14,489 Million in 2023 with a CAGR 5.76% in the forecast period.

The report for Global Automotive Bumper Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.

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