Market Research Future (MRFR) has published on the “Global Bumper Beam Market”
that contains information from 2018 to 2032. The Bumper Beam market is estimated to register a CAGR of 4.20% during the forecast period of 2023 to 2032.
MRFR recognizes the following companies as the key players in the global Bumper Beam market— Thyssenkrupp, Magna International, Benteler Deutschland, Plastic Omnium, HUTCHINSON, CIE Automotive, Futaba Industrial, Sungwoo Hitech, UNIPRES Aisin Takaoka, Tower International, Lingyun Industrial, Minth Group, Yachiyo Industry, Shanghai Jiaoyun Group, Tata AutoComp Systems, and LEAD.
The global bumper beam market is accounted to register a CAGR of 4.20% during the forecast period and is estimated to reach USD 2.2 Billion by 2032.
The business that manufactures and supplies bumper beams used in vehicles is known as the bumper beam market. The expanding automotive sector, safety requirements, and the demand for impact absorption and structural integrity in vehicle bumpers are the main drivers of this market. It provides a selection of tough and lightweight bumper beam options to improve vehicle performance and safety.
The global bumper beam market has been segmented based type and application.
On the basis of type, the market is segmented into steel reinforcing beams, plastic reinforcing beam, aluminum reinforcing beam, and others. Steel reinforcing beam segment accounted for the largest revenue share in 2022. Steel reinforcing beams are used in the automotive industry to provide a component extra durability and strength.
Based on application, the global bumper beam market has been segmented into passenger cars and commercial vehicles. Passenger cars segment dominated the global Bumper Beam market in 2022. The expansion of the middle class, which can afford more expensive vehicles, has increased the manufacturing of passenger cars in developing nations like China, India, and Brazil.
Browse In-depth Detailed Research Report [Table of Content, List of Figures, List of Tables] of Bumper Beam Market Trends
The global Bumper Beam market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe Bumper Beam market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The Bumper Beam market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World Bumper Beam market comprises of Middle East, Africa, and Latin America.
The North America Bumper Beam Market dominated this market in 2022 (45.80%) A number of well-known vendors are encouraging the use of cutting-edge materials in product manufacture through marketing campaigns and branding, which is anticipated to boost demand for bumper beams throughout the course of the forecast period. Additionally, the North American bumper beam market saw the quickest growth in Canada, while the U.S. bumper beam market had the biggest market share.
Moreover, in 2022, the Europe Bumper Beam market held a sizable market share. As indicated by their largest foreign investment in R&D, a relatively high number of qualified people are expected to be the primary driving factor behind Europe's innovation and knowledge in this industry. To further help this industry, the European Commission plans to toughen internal market regulations. Valeo, GKN, and Delphi Automotive are some of the leading businesses operating in Europe.
Additionally, from 2023 to 2032, the Asia Pacific Bumper Beam market is anticipated to experience rapid growth. The biggest regional rivals, such as Plastic Omnium, Magna International Inc., Hyundai Mobis, and others, have partnered with successful merchants and distributors in order to stay competitive in the market.
Furthermore, the rest of the world's Bumper Beam market is divided into the Middle East, Africa, and Latin America. The need for bumper beams used in cars in the region is met by the Latin America Bumper Beam Market. The market offers robust and lightweight bumper beam solutions to ensure impact absorption and structural integrity in vehicle bumpers in Latin American countries because to the expanding automotive sector and emphasis on safety standards.
Key Findings of the Study