Pune, India, January 30, 2018/MRFR Press Release/- Market Research Future published a Cooked research report on “Global Automotive Front End Module Market Research Report - Forecast to 2022” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2022.
Mahle GmbH, Faurecia SA, Denso Corporation, Calsonic Kansei Corporation, Hbpo Group, Magna International Inc., Hyundai Mobis, Plastic Omnium, SL Corporation, and Valeo S.A., and others are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the global Automotive Front End Module market.
Automotive Front End Module Global Market – Overview
Automotive Front End Module are pieces of assembly that are the integral part of the vehicle which includes forward light, radiator and cooling fans, bumpers, air conditioning condensers, and others. The structure of the modular FEM can be standardized which allows common design to be used in multiple models hence leads to cost saving. Also, FEMs can be installed late in the assembly sequence which saves time and cost during the manufacturing process of the vehicle. As per trend, light weight composites FEM such as polypropylene are used in the vehicles to increase the fuel efficiency and performance of the vehicle which in turn expected to contribute in the growth of the automotive front end module market. According to a recent study report published by the Market Research Future, The global market of automotive front end module is booming and expected to gain prominence over the forecast period. The market is forecasted to demonstrate a stunning growth by 2023, surpassing its previous growth records in terms of value with a striking CAGR during the estimated period (2017 – 2022).
There are various factors that contributes to the growth of the automotive front end module which includes rising demand of light weight components, increase in the registration of the new vehicles, expansion of the auto manufacturers in the emerging economies such as India, china, and others.
The global automotive industry has experienced a potential demand for light weight vehicles. Over the years it has been analysed that the demand for light weight vehicles has increased among the end users which in turn has put pressure on auto bumpers manufacturers to reduce the material weight. Major reasons that have propelled this decision is that light weight vehicle consumes less fuel and the emission rate, moreover, the governments of various countries have taken same initiatives. Owing to all these factors, the OEMs such as Compagnie Plastic Omnium, Faurecia Group, Magna International, Fab Fours and other have actively shifted their focus on reducing weights. Furthermore, the major automotive producers have also witnessed a strong demand for light weight vehicle due to the government’s initiative on less fuel consumption as light weight vehicles consumes less fuel consumption. Additionally, it has been observed that in North America and Europe, the government have made regulation on per miles average of vehicles and as per European automotive associations and US Corporate Average Fuel Economy (CAFE) standards, the amendments have been made for vehicles average, which ensures that vehicles must give average of around 34 miles per gallon. However, due to all the above factors, the demand for light weigh vehicle is expected to increase which in turn for light weight auto components.
Industry/ Innovation/ Related News:
The key strategies followed by most companies within the global automotive front end module market are that of new product development.
In June 2016, Plastic Omnium opened a development center in Lozorno, Slovakia, for its exterior and structural component operations.
In 2015, Magna International, Inc. launched new exteriors facility in Mexico.
In 2014, Toyota Boshoku begins Service Bumper production in North America
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Automotive Front End Module Market – Segmentation
The global Automotive Front End Module market is segmented in to 3 key dynamics for the convenience of the report and enhanced understanding;
Segmentation by Material : Comprises Steel, Composite, Plastic, and Others
Segmentation by Component : Comprises Headlight, Front Grill, Radiator, Condenser, Horn Assembly, Oil Cooler and Others.
Segmentation by Vehicle : Comprises Passenger, Commercial.
Segmentation by Regions : Comprises Geographical regions - North America, Europe, APAC and Rest of the World.
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.