Automotive Front End Module Market: Composites Maintain a 2x Lead over Plastics

Rockville, USA, 2019-Feb-15 — /EPR Network/ —  Industry wide shift towards efficient, aesthetically pleasing and lightweight features continue to influence the growth of the automotive front end module market. With growing consumer inclination toward vehicle front end modules, heavy investments are being made in the automotive front end module space as manufacturers opt for miniaturization of their products. In addition, evolution of smart automotive front end module has embossed a positive impact its market’s growth on the coattails of increasing proliferation of Internet of Things (IoT). Fact.MR envisages that the demand for automotive front end module is projected to expand at a CAGR of 5.1% during the period of forecast, 2017-2022. Steady adoption of automotive front end module is likely to translate into sales nearly cross US$ 121,000 Mn by end of the assessment period, according to the report.

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IoT Integration Fuelling Sales of Automotive Front End Modules as Miniaturization goes Mainstream

Miniaturization of automotive front end modules along with integration of Internet of Things (IoT) continues to be on an upswing. Proliferation of smart technologies in automotive sector have enabled stakeholders to invest in development of automotive parts using which customers can stay connected with other users in vehicles. This triggered the development of automotive front end modules that feature Bluetooth, Wi-Fi, and LTE connectivity.

Sourcing Automotive FEMs can Increase Productivity and Profits by a Considerable Margin

Automotive front end module market is witnessing a momentous shift toward sourcing of the module. Still evolving, automotive front end module (FEM) is not completely accepted by original equipment manufacturers on the global front. Sourcing of automotive front end modules can support the automaker by reducing operations on assembly line, lessen tooling costs, cut down weight of vehicle and enhance working capital.

The automotive front end module market includes assessment on various key players. Major companies profiled in the report include Plastic Ominum, HBPO GmbH, MAHLE GmbH, Faurecia SA, and DENSO Corporation, to name a few.

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Demand for composite material in automotive front end module manufacturing is expected to increase at a rapid pace. According to the report, sales of automotive front end module from composite material are likely to account for more than 55% in the overall automotive front end module market. Acceptance of composites in the automotive sector has witnessed a significant spike with growing demand for lightweight yet durable products. Moreover, high strength to weight ratio of composites coupled with enhanced corrosion resistance and operational feature have furthered their use in automotive front end module manufacturing. Moreover, sales of automotive front end module with composites are also influenced by increasing demand for fuel efficient vehicles.

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OEMs are likely to remain an attractive sales channel for automotive front end module. ORM channel is expected to largely contribute to the growth of the automotive front end module market during the assessment period, says the report. Aftermarket for automotive front end module is projected to grow at a significant pace, albeit at a lower base than OEM. Stakeholders in the automotive front end module market can expect significant opportunities by tapping the OEM channel in a bid to achieve sustenance and increased profitability.

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