A recent report published by Infinium Global Research on the automotive bumper market provides an in-depth analysis of segments and sub-segments in global as well as the regional automotive bumper market. The study also highlights the impact of drivers, restraints and macro indicators on the global and regional automotive bumper market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global automotive bumper market. According to the report, the global automotive bumper market is projected to grow at a CAGR of 6.9% over the forecast period of 2018-2024.
The automotive bumper is a structure integrated with the front and rare of the vehicle's body in order to reduce the cost in case of accidents. Polypropylene is a thermoplastic polymer used widely for bumper manufacturing. An automotive bumper acts as a protection enhancement and absorbs the impact in case of a collision. Apart from the safety feature, the automotive bumper is also used for the attractive look of vehicles. They protect the hood, fuel, exhaust, and cooling system, as well as safety related to equipment, includes parking lights and headlamps. Specification of bumpers is varying according to countries standard.
According to a trusted source, ten thousand peoples are dead and hundreds of thousands to millions are wounded each year due to car accidents. This calls for the need to improve the safety of automobiles during car accidents. Rising number of passenger vehicle and an increasing rate of accidents are major factors fueling the growth of the automotive bumper market. Moreover, Growing awareness about greener technology has been the primary driver transforming the automobile industry. Moreover, rising consumer demand of high end -products at low cost is anticipated to be the key driving factor for the growth of the automotive bumper market. Moreover, increased efforts undertaken by key players to develop improved materials for automotive bumpers is anticipated to create several growth opportunities for the key players in the market during the forecast period. In addition, changing demographic trends, stringent regulatory situation, and available information is expected to offer immense opportunities to the suppliers over the upcoming years.
Among the geographies, Asia Pacific is expected to be the largest region due to the increase in automobile industries in this region. An increasing number of passenger vehicle production in the countries such as China and India and coupled with low manufacturing cost and rising disposable income are some of the factors boosting the market of the automotive bumper market in Asia Pacific region. Owing to the expansion of automotive industries there is some of the key players in the European region include Delphi Automotive, Valeo and GKNhave positive impact on the Europe region. Emerging countries such as South Africa and India are expected to boost the industry in the upcoming years. Moreover, countries such as Latin America and the Middle East has anticipated to increases the demand for Automotive Bumper Market over the forecast period.
The report on the global automotive bumper market covers segments such as vehicle type, raw material, and product type. On the basis of vehicle type the global automotive bumper market is categorized into passenger vehicle and commercial vehicle. On the basis of raw material, the global automotive bumper market is categorized into steel, aluminum, fiberglass, and plastic. On the basis of product type the global automotive bumper market is categorized into the standard bumper, deep drop bumper, roll pan bumper, step bumper, and tube bumper.
The countries covered in the North America region include the U.S., Canada, and Mexico; while Asia-Pacific includes China, Japan, India, South Korea, Malaysia, and among others. Moreover, Germany, U.K., France, Spain, and Rest of Europe are included in the European region. The U.S. drives the growth in the North America region as it is the largest market in the region. The Asia-pacific region offers a substantial potential for the market growth owing to rapid growth in markets such as India and China. The APAC region is projected to experience a growth at a CAGR of x.x% over the period of 2016-2024.
The report provides profiles of the companies in the global automotive bumper market such as Toyota Boshoku Corporation, Plastic Omnium SA, Magna International, Inc, Futaba Industrial Co., Ltd., SMP Deutschland GmbH, Flex-N-Gate Corporation, and Faurecia SA.
The report provides deep insights into demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the global automotive bumper market. Moreover, IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the automotive bumper market. Moreover, the study highlights current market trends and provides forecast from 2018-2024. We also have highlighted future trends in the automotive bumper market that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players. This report will help manufacturers, suppliers, and distributors of the automotive bumper market to understand the present and future trends in this market and formulate their strategies accordingly.