Global Automotive Bumper Market

By Author: Rupali Dagade
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Global Automotive Bumper Market was valued $xx Mn in 2019 and is expected to reach $xx Mn by 2026, at a CAGR of 5.74% during the forecast period.

Global Automotive Bumper Market Introduction

A plastic bumper for an automobile is a structure that is integrated into or attached to the vehicle's back and front end. The major function of an automotive plastic bumper is to significantly minimize the impact of a collision by dissipating kinetic energy during the accident, hence lowering the cost of repair. The global automotive bumper market is fueled by the growing automotive industry, rising accident rates, fast urbanization, and rising disposable income, all of which contribute to a demand for personal mobility.

Global Automotive Bumper Market Dynamics

For the years ahead, increasing automation, a faster rate of technical and material developments, and the integration of value chains are expected to be trends in the automotive bumper market. By the end of 2022, the automobile bumper market is expected to reached a value of US$ 9 billion. The significant growth in the manufacturing of passenger automobiles ...
... and commercial vehicles is driving demand for automotive plastic bumpers. Commercial vehicle manufacturing has been continuously growing around the world, according to OICA. This expansion is fueled mostly by increased trading activities, which include the movement of goods, as well as a growing desire for local transportation, such as buses.

Automobile sales are expected to drop to slightly about 70 million units in 2021, down from nearly 80 million units in 2017. Commercial vehicles and passenger cars are the two most important areas of the auto industry. China is one of the world's largest auto marketplaces, both in terms of sales and production. Globally, 56 million passenger automobiles were produced in 2019. Rising passenger car and commercial vehicle production are expected to open up new growth opportunities for automotive plastic bumpers, propelling the market forward.

Over the next few years, significant drivers in the automobile sector such as changing demographic patterns, strict regulatory scenarios for safety and fuel economy, and available data are likely to provide enormous potential for suppliers. Rising consumer demand for high-end items at affordable prices is projected to have a favorable impact on industry production dynamics. New models are progressively including safety features as standard equipment. Over the forecast period, the standard/regular bumper segment is expected to gain substantial market share, and major stakeholders in the automotive bumper market ought to be alert of this.

Global Automotive Bumper Market Segment Analysis

Because bumpers absorb energy, the materials used to make them must be very absorbent, such as plastic, composite materials, or fibers. Steel and aluminum reinforcing bars, as well as springs or hydraulic components, were utilized to safeguard cars from a few decades ago. Molded plastic, aluminum, and steel are used to make modern bumpers. Because plastic is such a crucial component, manufacturers chose high-performance plastic for bumper production. Automotive plastic bumper manufacturers are investing in a research and development infrastructure to implement product advancements. Automotive plastic bumper development is being carried out to improve the safety quotient for both automobiles and pedestrians. For instance, intelligent car plastic bumpers with inbuilt intelligence have been introduced by Plastic Ominum. The integrated radar, revolutionary front grille, and improved impact absorption and detection system are all included in this car's plastic bumper. This invention also has a low weight, which aids in carbon dioxide reduction, an aerodynamic tailgate, and improved personalization and safety.

Vehicles that use the correct lightweight, high-performance plastic can be more fuel-efficient. Every 10% reduction in vehicle weight is estimated to result in a 5% to 7% reduction in fuel consumption. From 2020 to 2026, the plastic bumper segment is expected to grow at a strong CAGR of XX%, making it a great potential for all automotive bumper manufacturers.

Compact and mid-sized passenger cars have a global appeal, and companies should focus their investment in the automotive bumper market on these vehicle types. Compact automobiles are more popular in the APEJ due to their cost-effectiveness and fuel efficiency, but mid-sized automobiles are more popular in Europe and North America.

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Global Automotive Bumper Market Regional Insights

The European Union is expected to be the world's biggest vehicle producer, assuming that this industry is a major contributor to their economy and GDP. A relatively significant number of talented workers is likely to be the primary driver of European innovation and knowledge in this area, as evidenced by their highest foreign R&D investment. By strengthening its internal market laws, the European Commission intends to grow this industry even further.

Due to the expansion of the automobile sector in the region and the strong presence of important automotive manufacturers in countries such as China, the automotive bumper market in the Asia Pacific is likely to rise at a substantial rate during the forecast period. The automobile bumper sector in China is expected to grow at the fastest rate in the region. To remain competitive in the industry, major regional firms such as Plastic Omnium, Magna International Inc., Hyundai Mobis, and others have formed relationships with capable merchants and distributors. Furthermore, growing industrialization in developing countries is raising the production of automobiles and other manufacturing outputs, hence increasing demand for automotive bumper market.

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Global Automotive Bumper Market Report Scope: Inquire before buying

Global Automotive Bumper Market, by Region

• North America
• Europe
• South America
• MEA
• Asia Pacific

Global Automotive Bumper Market Key Players

• Plastic omnium sa
• Magna international, Inc.
• Futaba industrial co., ltd.
• Toyoda gosei co., ltd
• Hyundai mobis co., ltd:
• Flex-n-gate corporation
• Smp deutschland gmbh
• Faurecia sa
• Toyota boshoku corporation
• Toray industries, Inc.
• Toyota boshoku corporation
• Plastic omnium
• Yanfeng plastic omnium automotive exterior systems co. Ltd
• Jiangnan mould & plastic technology co., ltd.
• Venture otto SA (pty) ltd.
• Ntf (india) private ltd
• Fab fours, Inc.

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