ID: MRFR/AM/1484-HCR | 100 Pages | Author: Sejal Akre | May 2023
The automotive front-end module market is anticipated to register USD 1,21,080 million at a CAGR of over 5.80% during the forecast period ending in 2030. The front-end modules were mostly designed and fabricated with weighted steel materials. However, in the current scenario lightweight composite materials, like polypropylene, glass mat thermoplastic, long fiber thermoplastic (LFT), direct LFT aluminum, etc. are used in manufacturing front-end modules. Skyworks Solutions of Woburn, in the United States, has designed front-end modules that provide wireless technology for the Internet of Things (IoT) technology and GPS-enabled tracking products. Tracking is becoming an increasingly vital opportunity, as the Internet of Things explosion proliferates and encompasses a wide range of new and previously unimagined applications, ranging from smart meters and connected vehicles to security systems. The combination of IoT with front-end module products is said to propel the market for front-end modules at a significant pace over the forecast period.
The outbreak of the COVID-19 pandemic has spread across the globe. In March 2020, the declaration of coronavirus as a pandemic by the WHO has resulted in lockdowns being implemented in many countries. The strict restrictions that have been imposed by government authorities have compelled industry players to let their employees to work remotely and in a virtual manner. However, the adoption of automated developed technologies to lesson human interaction in manufacturing and production facilities is expected to support the widespread growth of the global earthmoving equipment market during the forecast period that will be ending in 2030. The widespread use of technologies, including automated machinery and advanced electronics, has not only ensured the continuous running of businesses during the pandemic but has further improved work productivity.
The growing degree of sales of excavators and related products is likely to play a main role in generating revenue for the earthmoving equipment industry. The growth of the demand for the products can be attributed to their high usage in the construction of commercial and residential buildings. The market report shows that there has been an increased demand for the products and hence, the losses during the pandemic are likely to be covered in the period. The fluctuating degree of sales of excavators is further expected to hamper the global growth of the earthmoving equipment market over the projected timeframe.
However, the automotive frond end module market value is likely to be hampered during the ongoing forecast period that will be ending in 2028. The trends suggest that the global market is likely to witness a decline in sales due to the outbreak of the virus which has targeted the employment of people. Also, the capacity of the people to spend their disposable income has declined which is likely to give a hard growth to the market during the ongoing forecast period.
The automotive front end modules market has been divided all across the globe based on the segments that are mentioned as follows:
The automotive front end module market has been segmented based on the demands related to passenger cars, light commercial vehicle, and heavy commercial vehicle.
The raw material type segment of the automotive front end module market includes metal and composite.
The market has been divided worldwide based on region into the North American region, Asia-Pacific region, European region, Latin American region, and the Middle East and African region.
The automotive front end modules market has been segmented all across the globe based on the region into the North American region, Asia-Pacific region, European region, Latin American region, and the Middle East and African region. Being the fastest-emerging nation, the largest equity share in the global market is held by the Asia-Pacific region owing to increasing sales of electric vehicles coupled with increasing development in automotive infrastructure drives the market demand in this region. Moreover, the growing demand for electrification in vehicles is another factor that creates growth opportunities in this region.
The second-largest market share belongs to the North American region owing to the presence of countries like the US, Canada, and Mexico that drive the market demand in this area. Moreover, increasing competition among various major key players coupled with a rising investment made by the public and private sector are some factors that create more market demand in this region.
The third-largest market share in the global market is held by the European region owing to the presence of a well-established technologically advanced infrastructure that generates more market demand for automotive vehicles in this region. Increasing investment made by various major key players is yet another factor that drives the market demand in this region.
The Latin American region and the Middle East and African region show the least equity share due to the presence of low infrastructure in both these regions.
These major key players use various strategies to sustain their market position in the automotive front end modules market in the global market by going for mergers, and acquisitions, collaborating, setting up a new joint venture, establishing a partnership, developing a new product line, innovation in the existing product, developing a unique production process, and many others to expand their customer base in the untapped market of the automotive front end modules market all across the globe.
Plastic Omnium has further strengthened its automotive FEM market presence in the country after the acquisition of Faurecia’s Exterior System business in July 2016
Also, in June 2017, Valeo North America officials announced the investment of USD 25 million to expand its operation in Smyrna, Tennessee, the United States. The Smyrna plant will add 130,000 square feet to the present space. The plant produces front-end modules, active grill shutters, and HVAC products.
Various players around the world are investing in new R&D projects, making joint ventures, and partnerships for being ahead in the competition. For instance, in March 2018, Mahle Group sold its equities in the Hella Behr Plastic Omnium (HBPO) joint venture to Plastic Omnium. HBPO specializes in the assembly, logistics, development and design of front-end modules, which has bumpers, lighting systems, and cooling components.
The report for the automotive front end module market has been prepared after extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts. The key opinion leaders are mentioned to get a deeper insight into the market and industry performance. The report gives a clear picture of the present market scenario which includes the historical and projected market size in terms of value, technological advancement, macroeconomic, and governing factors in the market. The report hands over information and strategies that are a part of the top key players in the industry. The report also helps in providing a wide study of the different market segments and regions.
|Market Size||2030: USD 1,21,080 Million|
|CAGR||5.80% CAGR (2020-2030)|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||by Material, by Component, by Vehicle|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Mahle GmbH, Faurecia SA, Denso Corporation, Calsonic Kansei Corporation, Hbpo Group, Magna International Inc., Hyundai Mobis, Plastic Omnium, SL Corporation, and Valeo S.A.|
|Key Market Opportunities||Increase the fuel efficiency and performance|
|Key Market Drivers||Polypropylene are used in the vehicles|
2022 to 2030 is the growth period of the market.
The market will be expanding at a CAGR of about 5.80% as per the experts.
North America, Europe, Asia-Pacific, and ROW are the key regions for the market share in the study.
Material, component, vehicle type are the segments of the market involved in the market research.
Asia-Pacific is the major regions for the automotive front end module market.
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