Market Analysis
Market Research Future (MRFR) projects the global automotive front-end module market to show a CAGR of 6% from 2016 to 2022 (forecast period).
Several Factors Contributing to Market Growth
Automotive front end modules are multi-piece assemblies that incorporate a large number of components such as forward lights, radiator, and colling fans, bumpers, air conditioning condensers, and others. The rising need for vehicle weight reduction and increasing demand for technically advanced light weight front end modules are projected to drive demand for automotive front end modules. Since the structure of the modular FEM can be standardized, a common design can be used in various models, resulting in cost savings. Furthermore, FEMs can be installed late in the assembly sequence, saving time and money during the vehicle's manufacturing process. According to the trend, lightweight composites FEM such as polypropylene are being used in vehicles to improve fuel efficiency and performance, which is likely to contribute to the growth of the automotive front end module market.
Increasing Sales of Counterfeit Products
The increasing sales of counterfeit products in the industry are limiting the growth of the automotive front-end module market. Counterfeit products are of poor quality and are widely accessible at considerably lower prices than those created by OEMs. Furthermore, rigorous adherence to safety rules regarding the usage of modern, lightweight front-end module components in automobiles impedes market growth to some extent.
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Market Segmentation
The global automotive front end module industry has been segmented into material, component, and vehicle.
On the basis of material, the global automotive front end module industry has been segmented into Steel, Composite, Plastic, and Others.
On the basis of components, the worldwide automotive front end module market has been segmented into Headlight, Front Grill, Radiator, Condenser, Horn Assembly, Oil Cooler, and Others.
On the basis of vehicle, the worldwide automotive front end module market has been segmented into Passenger and Commercial.
Automotive Front End Module Market: Regional Analysis
U.S. being the largest market in North America is considered as the major revenue generator for auto front end module market. Owing to the presence of major automobile companies the demand for auto front end module has improved the market growth. U.S. is considered as the matured economy but still the demand for passenger cars, LCV and HCV has increased substantially due to the rising immigrants, however, it has resulted in augmenting the market for automotive front end module.
In Europe, Germany is mainly known for its vehicle manufacturers. Presence of several giants has pushed the German market for auto front end module. Germany is one of the major exporters of front end modules to other European countries such as UK, France, Italy and others. Presence of well-established automotive players along with growing demand for passenger vehicles has pushed the market for auto front end module in Germany.
Key Players
The key players in the worldwide automotive front end module market are Mahle GmbH, Faurecia SA, Denso Corporation, Calsonic Kansei Corporation, Hbpo Group, Magna International Inc., Hyundai Mobis, Plastic Omnium, SL Corporation, and Valeo S.A.
Competitive Landscape
To stay ahead of the competition, several players throughout the world are investing in new R&D initiatives, forming joint ventures, and forming partnerships. For example, Mahle Group sold its stake in the Hella Behr Plastic Omnium (HBPO) joint venture to Plastic Omnium in March 2018. HBPO is a leader in the assembly, logistics, development, and design of front-end modules such as bumpers, lighting systems, and cooling components.
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- REPORT PROLOGUE
- INTRODUCTION
2.1. DEFINITION
2.2. SCOPE OF THE STUDY
2.2.1. RESEARCH OBJECTIVE
2.2.2. ASSUMPTIONS
2.2.3. LIMITATIONS
2.3. MARKET STRUCTURE
2.4. MARKET SEGMENTATION
- RESEARCH METHODOLOGY
3.1. RESEARCH PROCESS
3.2. PRIMARY RESEARCH
3.3. SECONDARY RESEARCH
3.4. MARKET SIZE ESTIMATION
3.5. FORECAST MODEL
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