Dublin, Oct. 16, 2023 (GLOBE NEWSWIRE) -- The "Automotive Bumper Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts - 2023 to 2031" report has been added to ResearchAndMarkets.com's offering.
The global automotive bumper market is poised for steady growth, with a projected Compound Annual Growth Rate (CAGR) of 3.1% during the forecast period from 2023 to 2031.
This growth is attributed to various factors, including safety standards, consumer customization preferences, lightweighting initiatives, and innovation in materials and designs.
Market Drivers:
- Safety Standards: Stricter safety and crash protection standards set by regulatory authorities worldwide are compelling automakers to invest in advanced bumper technologies for enhanced crash protection.
- Aesthetic Customization: Growing consumer demand for customized and aesthetically appealing vehicles has driven automakers to offer a variety of bumper types and styles, promoting brand differentiation.
- Lightweighting: The need for lightweight materials in bumper construction, such as aluminum, plastic, and fiberglass, to improve fuel efficiency and meet emission standards is encouraging their adoption.
Challenges:
- Cost and Material Selection: Balancing cost-effective production with the selection of appropriate materials remains a challenge, as high-quality materials can be expensive.
Market Segmentation:
- Type:
- Standard Bumper
- Deep Drop / Cowboy Bumper
- Roll Pan Bumper
- Step Bumper
- Tube Bumper
- Material:
- Steel
- Aluminum
- Rubber
- Plastic
- Polypropylene (PP)
- HDPE (High-Density Polyethylene)
- Polycarbonate
- Thermoplastic Polyolefins (TPOs)
- Carbon Fiber
- Fiberglass
- Positioning:
- Front Ends
- Rear Ends
- Vehicle Type:
- Passenger Cars
- Utility Vehicles (SUVs & MPVs)
- Light Commercial Vehicles
- Heavy Duty Trucks
- Buses and Coaches
- Off-Highway Vehicles
- Industrial Vehicles (Forklift, AGV, Etc.)
- Sales Channel:
- OEM
- Aftermarket
Regional Insights:
- North America: Expected to exhibit the highest CAGR during the forecast period, driven by a strong automotive industry and consumer demand for customized vehicles with unique bumper designs.
- Europe: Holds a significant share due to regulatory compliance and the presence of established automakers.
- Asia Pacific: Expected to lead in terms of revenue percentage due to its vast automotive market and lightweight materials adoption.
Competitive Landscape:
Key players in the automotive bumper market include Plastic Omnium, Hyundai Mobis Co. Ltd., Magna International, Inc., SMP Deutschland GmbH, Toyoda Gosei Co. Ltd., Benteler Automotive, SamvardhanaMotherson Group (SMG), Faurecia SA, NTF Group, Tong Yang Group, KIRCHHOFF Automotive, Yanfeng Automotive Interiors, Futaba Industrial Co. Ltd., Flex-N-Gate Corporation, and Toyota Boshoku Corporation. These companies focus on design innovation, material R&D, and collaboration with automakers to meet evolving consumer and regulatory requirements
For more information about this report visit https://www.researchandmarkets.com/r/ex4h1s
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