Automotive Fender Market Share

Automotive Fender Market Overview:

The Automotive fender market industry is projected to grow from USD 9.08 Billion in 2023 to USD 13.36 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 4.40% during the forecast period (2023 - 2032). Automotive Fender Market Size was valued at USD 8.65 Billion in 2022. Vehicle production and sales, urbanization and infrastructure development, repair and replacement market, are the key market drivers enhancing the market growth.

 Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Automotive Fender Market Trends

Rising vehicle production and sales is driving the market growth

The automotive fender market is primarily driven by vehicle production and sales. The dynamics of the automotive industry are centered on these interrelated elements, which have an impact on demand for various parts, including fenders. The impact of vehicle sales and production on the automotive fender market is examined below.

The direct association between the production and sales of vehicles and the market for automotive fenders is the most obvious link between the two. The need for fenders grows as there are more cars built and sold. Every vehicle must have fenders because they act as a barrier against objects and collisions. As a result, there is a greater need for fenders to repair broken ones or be incorporated into new vehicles as there are more vehicles on the road.

Economic conditions have a significant impact on both vehicle production and sales. Vehicle sales increase when economies are strong and consumer confidence is high. In contrast, economic downturns frequently lead to lower production and sales levels. The market for automotive fenders is significantly impacted by these changes in the economy. The market for fenders typically has stronger demand during economic booms, while demand may decline during recessions as people put off buying new cars.

With the advent of electric vehicles (EVs), autonomous vehicles, and advanced driver-assistance systems (ADAS), the automobile industry is undergoing a transition. To fit sensors, cameras, and other components, these technologies frequently need specialized fenders. As a result, as the automobile industry develops, the demand for novel fenders is influenced by the production and sales of these cutting-edge vehicles. Thus, driving the Automotive fender market revenue.

Automotive Fender Market Segment Insights:

Automotive fender Type Insights

The Automotive Fender Market segmentation, based on type, includes steel, fiberglass and carbon fiber. The steel segment dominated the market in 2022. Regulations governing crashworthiness and safety are very strict for the vehicle sector. These standards are best met by steel fenders since they efficiently absorb and distribute energy during collisions, lowering the risk of injury to passengers. The market for vehicle fenders is primarily driven by this compliance with safety criteria.

Automotive fender Vehicle type Insights

The Automotive Fender Market segmentation, based on vehicle type, includes passenger cars and commercial vehicles. The passenger cars segment dominated the market in 2022. The majority of vehicles that are driven on the road around the world are passenger cars. For both people and families, they are the preferred form of personal transportation. As a result, one of the main factors propelling the automotive fender market is the sheer number of passenger cars on the road. Fenders are constantly needed for original equipment manufacturing (OEM) and replacement purposes due to the millions of passenger cars on the road.

Automotive fender Sales channel Insights

The Automotive Fender Market segmentation, based on sales channel, includes OEM and aftermarket. The OEM category generated the most income in 2022. OEMs have high criteria for both quality and safety. To assure the longevity and safety of their vehicles, they need premium materials and production techniques. The producers of fenders are subject to this regulation and are expected to uphold these requirements. As a result, the OEM market segment propels the invention of cutting-edge materials and production methods in the automobile fender industry.

Figure 1: Automotive Fender Market by Sale channel, 2022 & 2032 (USD Billion)

 Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Automotive fender Regional Insights

By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North America Automotive Fender Market dominated this market in 2022 (45.80%). Larger cars, such as trucks, SUVs, and crossovers, are highly preferred by North American buyers. Because of their greater heft and propensity for off-road use, these larger vehicles frequently require more robust and long-lasting fenders. As a result, the demand for bigger, stronger fenders has been steadily increasing. Further, the U.S. Automotive fender market held the largest market share, and the Canada Automotive fender market was the fastest growing market in the North America region.

Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2: Automotive Fender Market Share By Region 2022 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe Automotive fender market accounts for the second-largest market share. The world's harshest emission laws are found in Europe. European automakers are increasingly using lightweight materials, aerodynamic designs, and efficient powertrains to achieve these regulations. This tendency also applies to fenders, which are made to improve aerodynamics and reduce weight in order to increase the vehicle's overall efficiency. Further, the German Automotive fender market held the largest market share, and the UK Automotive fender market was the fastest growing market in the European region.

The Asia-Pacific Automotive Fender Market is expected to grow at the fastest CAGR from 2023 to 2032. The Asia Pacific area is likewise concerned with environmental sustainability and fuel efficiency. In response, automakers are creating cars with lighter components and better aerodynamics to adhere to more stringent emissions regulations. This region's fenders contribute to the achievement of these objectives and spur new developments in both materials and design. Moreover, China’s automotive fender market held the largest market share, and the Indian Automotive fender market was the fastest growing market in the Asia-Pacific region.

Automotive Fender Key Market Players & Competitive Insights

Leading market players are investing heavily in research and development in order to expand their product lines, which will help the automotive fender market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, automotive fender industry must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global automotive fender industry to benefit clients and increase the market sector. In recent years, the automotive fender industry has offered some of the most significant advantages to medicine. Major players in the Automotive fender market, including Thyssenkrupp, Magna International, Sungwoo Hitech, Hitachi Chemical, Benteler Deutschland, HUTCHINSON, Futaba Industrial, Tata AutoComp Systems., Plastic Omnium, Faurecia and others, are attempting to increase market demand by investing in research and development operations.

The ThyssenKrupp AG (ThyssenKrupp) industrial conglomerate was established. The company runs operations in the production of autos, the processing of steel and related materials, trading, engineering, construction, the delivery of energy and utilities, the public sector, packaging, and other clients. The company's services include supply chain management, automation solutions for automotive OEMs, maritime systems, steel products, and component technology solutions. In addition, ThyssenKrupp serves as a partner in engineering and construction and provides services for industrial systems and plants. Various other industries are also supported by it, including those that create or supply electricity, oil, gas, chemicals, shipbuilding, white goods, specialty vehicles, food and beverage production, aerospace, mechanical and plant engineering, and home appliances. It runs in the US, China, and Germany in addition to other countries. The company owns and operates manufacturing, R&D, and other facilities all over the world. Essen houses the company's headquarters, which are located in the German state of Nordrhein-Westfalen.

Magna International Inc. (Magna), a company in the mobility technology sector, offers modular solutions for system and part assembly as well as whole car assembly. The company's customers are businesses that produce original equipment for vehicles and light trucks. It works on a variety of projects, including automotive systems, seating systems, closure systems, body and chassis systems, vision systems, electronic systems, exterior systems, powertrain systems, roof systems, hybrid and electric vehicles/systems, total vehicle engineering, and contract production. Asia, Europe, North America, and South America are where the corporation has production, product development, engineering, and sales facilities from which it conducts business. The headquarters of Magna are located in Aurora, Ontario, Canada.

Key Companies in the automotive fender market include

• Thyssenkrupp


• Magna International


• Sungwoo Hitech


• Hitachi Chemical


• Benteler Deutschland


• HUTCHINSON


• Futaba Industrial


• Tata AutoComp Systems.


• Plastic Omnium


• Faurecia

Automotive Fender Market Segmentation

Automotive Fender Type Outlook

• Steel


• Fiberglass


• Carbon Fiber

Automotive Fender Vehicle type Outlook

• Passenger cars


• Commercial vehicles

Automotive Fender Sales Channel Outlook

• OEM


• Aftermarket

Automotive Fender Regional Outlook

• 
  North America
  
  
  
  • U.S.
  
  
  • Canada
  
  
  
  


• 
  Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• 
  Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  


• 
  Rest of the World
  
  
  
  • Middle East
  
  
  • Africa
  
  
  • Latin America