Automotive Bumper Market USD 14,489.0 Million in 2023 with a CAGR 5.76%
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Automotive Bumper Market is expected to show a significant growth during the forecasted period. Market research future published a raw research report on Global Auto Bumper Market that contains the information from 2018 to 2023. The global auto bumper market revenue is forecast to reach USD 14,489.0 Million in 2023 with a CAGR 5.76% in the forecast period.
Automotive Bumper Market Companies Analyzed: 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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There are two kinds of bumpers that are usually installed in one's car, the front and rear bumpers. These are huge reshaped metal shields designed to absorb shock from minor, low-speed collisions. Bumpers are designed not only to protect the vehicle's passengers, but also to enhance the vehicle's appearance. Many companies focus on high-quality products and the changing lifestyle of consumers as well as they focus on rising spending capacities. This boosts the market towards growth. There has been a rise in the installation of mechanized and automated parts in automobiles, which is propelling the market even further.
The market has been analyzed based on the three segments: material, positioning, end market and end-use in the regions of North America, Europe, APAC and Rest of the World. On the basis of it is segmented into material, it includes Composite Plastic, Metal and Fiber. Composite plastic holds the largest market share by material types in global auto bumpers market with a market share of 55.60% in 2016. On the basis of positioning it is segmented into Front ends and Rear ends. The global auto bumper market segmented by front end positioning has augmented the largest market in terms of value. By End Market it is segmented into OEM and Aftermarket. OEM has accounted the largest market share of 75.3% in 2016 for global auto bumper market by end market. The scope of the market has widened over many years owing to the flourishing markets of Asia-Pacific.
Asia pacific will be the largest market: Asia-Pacific market is dominating the market of auto Bumper market due to the growth in automotive sector. Development of automotive manufacturing industries in developing economies such as China and India are driving the market for auto bumpers. The market in the developing countries is largely driven by economic growth and ongoing industrialization, which helps in production of motor vehicles and other manufacturing output.
North America is referred to as the second-largest auto bumpers market as factors such as large customer base and high disposable income of end-users have fueled the demand for vehicles in the country.
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Target Audience of Report:
This report mainly focuses on Automotive Bumper market Manufacturers, Distributer & Supplier companies, and end Users. Investment bankers and consultants with end user for Automotive Bumper market also analyzed. And finally Government and Independent Regulatory Authorities involved with Global Automotive Bumper market studied.
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