United States Automotive Bumper Market Driven by the Demand for Advanced Components
The United States automotive bumper market is driven by rising vehicle production, increasing safety regulations, and advancements in lightweight materials. Automakers are integrating thermoplastics, carbon fiber, and aluminum to enhance crash protection and fuel efficiency. The aftermarket segment is also growing due to high replacement rates from collisions and customization trends. Stringent National Highway Traffic Safety Administration (NHTSA) standards push manufacturers toward advanced impact-absorbing designs. Additionally, electric vehicle (EV) adoption is influencing bumper designs to accommodate sensor-based driver assistance systems. With continuous innovation and demand for sustainable manufacturing, the U.S. bumper market is expected to expand steadily.
Market Overview
In its research report, Market Research
Future (MRFR), emphasizes that the global automotive bumper market 2020 is
expected to grow exponentially over the review period, securing a substantial
market valuation and a healthy CAGR over the review period.
Drivers and Restraints
The global automotive industry has observed
a potential demand for lightweight vehicles. Over the past few years, it has
been analyzed that the demand for lightweight vehicles has increased among the
end-users, which in turn has put pressure on auto bumpers manufacturers to
reduce the material weight. Primary reasons that have propelled this decision
is that lightweight vehicle consumes less fuel, and the emission rate,
additionally, the governments of various countries have taken similar
initiatives.
Furthermore, the major automotive producers
have also observed a strong demand for lightweight vehicles owing to the
government initiative on less fuel consumption as lightweight vehicles consume
less fuel consumption. Thus, increasing demand for lightweight bumpers will
accelerate a higher growth rate. In
addition, the demand for cars is also growing with the rising population,
contributing to an increase in the production of automobiles. Cars account for
75 percent of the overall automotive market, and nearly 67 percent of the total
automotive bumper has found use in cars. This has contributed to an increase in
the manufacture of cars and a further boost to the car bumper industry.
Overall, from 2013 to 2017, global car
production is projected to grow by an average annual rate of 3.5 per cent.
Consequently, with rising car production, the OEMs would simultaneously
increase demand for automobile bumper. However, demand growth is expected to be
impeded by fluctuating prices of raw materials.
Segmental Analysis
The global market for automotive bumpers
has been segmented based on material, positioning, and end markets.
By material, the global market is segmented
into composite, plastic, metal, and fiber.
By positioning, the global market has been
bifurcated into front ends, and rear ends.
By end market, the market has been divided
into OEM and aftermarket.
Regional Analysis
The geographical overview of the global
market has been conducted in four major regions, including the Asia Pacific,
North America, Europe, and the rest of the world.
Asia-Pacific currently dominates the market
with rising vehicle output in countries like India and China and is focused on
increasing production efficiency, driving the automotive bumper market. The
government promptly intervened and reduced the VAT rate on small and medium-sized
vehicles. Also, high vehicle demand and low manufacturing costs are some of the
factors that fuel the Asia-Pacific market.
The demand in developing countries is
primarily driven by economic growth and increasing industrialization, which is expected
to increase motor vehicle production and other manufacturing performance
dramatically. Being amongst others, the presence of the world's most populated
countries such as China and India, APAC's supremacy becomes evident in the
global market value of auto bumper. Due to increasing passenger car sales,
increased use of plastic on cars increased the popularity of plastic bumpers
and technological advances, and the market has experienced rapid growth in the
last two years, giving much-needed impetus to the auto bumpers industry.
Competitive Analysis
The major market players operating in the global
automotive bumper market as identified by MRFR are Plastic Omnium (France),
Toyota Boshoku Corporation (Japan), Magna International, Inc. (Ontario), SMP
Deutschland GmbH (Germany), Toyoda Gosei Co., Ltd (Japan), Yanfeng Plastic
Omnium Automotive Exterior Systems Co. Ltd (Shanghai), Venture Otto SA (Pty)
Ltd. (South Africa), JiangNan Mould & Plastic Technology Co., Ltd. (Japan),
NTF (India), Private Ltd (India), and Fab Fours, Inc. (U.S.).
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