Automotive Front-End Module Market Size, Key Vendors, Growth Rate, Drivers, Volume and Forecast Report

Posted on 2019-07-18 by P&S Intelligence in Automotive // 0 Comments

Automotive Front-End Module Market

The global automotive front-end module market is expected to witness significant growth during the forecast period, on account of the growing production of passenger cars and heavy-duty vehicles, rising concerns for passenger safety, and increasing focus of original equipment manufacturers (OEMs) toward modularization for efficient production and curb vehicle weight reduction for improved fuel efficiency of the vehicle.

On the basis of vehicle type, the automotive front-end module market has been categorized into passenger cars, light commercial vehicles, and medium and heavy commercial vehicles. During the forecast period, the market is expected to witness the fastest growth in the category of passenger cars, owing to the increased uptake of these cars and the rise in the standard of living in developing economies such as China and India. In 2017, passenger car sales in China and India stood at 24.96 million and 3.2 million units, demonstrating an increase of 2.4% and 9.2%, respectively, in the 2016 figures. These numbers are expected to grow exponentially in the coming years, owing to the aforementioned factors.

Based on the material used for manufacturing these modules, the automotive front-end module market has been categorized into plastics, metals, composites, metal–composite hybrids, and alloys. During the forecast period, the market is expected to register significant growth in the category of composites, owing to their high strength-to-weight ratio, light weight, and resistance to chemicals and corrosion. The growing use of composites in high-end luxury cars is also expected to contribute to the market growth of this category in the coming years.

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Geographically, Asia-Pacific (APAC) is the largest market for automotive front-end modules. China leads the regional market, with India and Japan making significant contributions to the market growth. In 2017, car production in China stood at 24.96 million units, the highest among all countries, driven by the growing demand for personal transportation vehicles and improving standard of living in the country. Rapid urbanization, coupled with improving per capita income, in other developing economies of the region, such as India and Indonesia, is also supporting the growth of the automotive front-end module market in the APAC region.

Growing automotive industry and increasing focus of OEMS toward vehicle modularization and weight reduction are the key factors driving the growth of the automotive front-end module market. With the rise in disposable income in developing countries, primarily China, India, and Indonesia, the adoption of personal vehicles is increasing at a significant rate, thus contributing to the growth of the automotive industry. Similarly, the market for commercial vehicles has also witnessed considerable growth in recent years, owing to the growing logistics industry and the increasing demand for public transportation. Thus, the growth of the automotive industry has directly influenced the growth of the automotive front-end module industry.

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Some of the key players operating in the global automotive front-end module market are Faurecia SA, Denso Corporation, MAHLE GmbH, Magna International Inc., Robert Bosch GmbH, Compagnie Plastic Omnium SA, Samvardhana Motherson Group, Hyundai Mobis Co. Ltd., HBPO GmbH, Calsonic Kansei Corporation, and SL Corporation.

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