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Automotive Bumpers Market Segmented By Segmented By Regular/Standard, Deep Drop Bumpers, Roll Pan Bumpers, Step Bumper, Tube Bumper Product in Plastic, Aluminum Raw Material
An automotive bumper serves a dual purpose of protecting vehicle occupants and minimizing repair costs in case of an accident. The global automotive bumper market is driven by the growing automotive industry, increasing rate of accidents, rapid urbanization, and greater disposable income leading to a desire for personal mobility.
A greater degree of automation, rapid rate of technological and material advancements, and the integration of value chains are anticipated to be trends in the automotive bumper market for some time to come. The automotive bumper market is predicted to push past a value of US$ 9 billion at the end of 2022.
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Standard/ regular bumpers are the most popular choice in the automotive bumper market and they have a revenue share of almost half by product type segment in 2017. The standard/ regular bumper segment is on track to gain significant share over the course of the forecast period and key stakeholders in the automotive bumper market are advised to take this into account.
The standard/ regular bumper segment could be worth more than US$ 4.2 billion by the end of the study period. Step bumpers are a distant second in the automotive bumper market and have a revenue share of approx. a sixth by product type segment. The step bumper segment is estimated to lose share over the next five years. The APEJ region is poised to contribute a major chunk in the step bumper market.
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Get a Customized VersionPlastic bumpers have a revenue share of more than half the raw material segment in the automotive bumper market and may gain share in the near future. The plastic bumper segment is likely to record a robust CAGR of more than 6% from 2017 to 2022 making it an attractive prospect for all companies in the automotive bumper market.
The aluminum bumper segment has a revenue share of a third in the automotive bumper market. Aluminum has several advantages such as being relatively plentiful, lightweight, and durable, all of which will boost its appeal in the automotive bumper market. The APEJ aluminum bumper segment is the only one estimated to cross a value of one billion dollars by end 2022 and it should also record the highest CAGR during the period.
Compact and mid-sized passenger cars have global appeal and companies are recommended to direct their investment towards these vehicle types in the automotive bumper market. Compact cars are desired in the APEJ region on account of their cost-effectiveness and fuel efficiency while mid-sized cars have greater appeal in Europe and North America. The APEJ compact vehicle segment is projected to be worth just under US$ 730 million in 2017 itself.
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A few of the most prominent companies in the automotive bumper market have been profiled in the report. They are Plastic Omnium SA, Magna International, Futaba Industrial Co., Toyoda Gosei Co., Hyundai Mobis Co., Flex-N-Gate Corporation, SMP Deutschland GmbH, Faurecia SA, Toyota Boshoku Corporation, and Toray Industries.
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