Rockville, March 15, 2023 (GLOBE NEWSWIRE) — As per Reality.MR, a supplier of market analysis and aggressive intelligence, the worldwide automotive OE bumper cowl market is anticipated to garner US$ 98 billion by 2033, increasing at a CAGR of seven.6% from 2023 to 2033.
An automotive bumper cowl is a fascia or cowl product of plastic or steel that’s positioned over the bumper rail bar of a automobile. In line with the definition, the bumper cowl is a non-structural a part of the automotive’s physique. With the usage of clips, it’s secured to the automobile’s fenders and bulkhead. Its main goal is to reinforce each automotive and pedestrian security in case of a collision.
Whereas the contact of a steel bumper rail with a pedestrian throughout a collision may cause the pedestrian to maintain critical accidents, a versatile and energy-absorbing bumper cowl can diffuse the crash vitality all through the floor.
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One of many key causes propelling the growth of the automotive OE bumper cowl market is the rise within the demand for SUVs and crossovers on a worldwide scale. The rise in off-road driving indulgence and surge in automobile manufacturing internationally even have a constructive affect on the demand for deep-down bumpers that shield path drives, which has an extra affect on the automotive OE bumper cowl market.
Because of the presence of Chinese language companies with low-cost pricing and the accessibility of artificial plastic uncooked supplies within the area, Asia Pacific dominates the marketplace for car OE bumper covers. Because of the area’s expertise with plastic know-how, Europe is thought to be the second-largest market. Development of the automotive sector in Europe, significantly firms similar to Delphi Automotive, Valeo, and GKN, has had a useful impact on this regional market.
Over the approaching years, creating nations similar to South Africa and India are anticipated to speed up business growth.
- Toyota and Suzuki teamed up in August 2019 to create new automobiles, applied sciences, and platforms for India. It’s going to embrace new bumpers, an inside design, coloration prospects, and a brand new grille.
Key Takeaways from Market Research
- The worldwide automotive OE bumper cowl market amounted to US$ 47.2 billion in 2023.
- Worldwide demand for automotive OE bumper covers is projected to surge at a CAGR of seven.6% through the forecast interval (2023 to 2033).
- The worldwide market is estimated to the touch US$ 98 billion by the top of 2033.
- Passenger automobiles accounted for greater than 50% market share in 2022.
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These main gamers are implementing numerous inorganic and natural progress strategies similar to joint ventures, strategic alliances, mergers and acquisitions, and partnerships to broaden their enterprise operations and geographical footprint.
- In March 2021, The Plastic Trade Affiliation (PLASTICS) and Extremely-Poly Corp., a pioneer in plastic recycling, evaluated a technique to gather plastic automotive bumpers and recycle them into recycled polyolefins (TPOs) that show 85% to 90% of the elasticity of the unique plastic materials.
- Sumitomo Chemical, a famend chemical enterprise with its headquarters in Japan, introduced the opening of a brand new mechanical waste processing facility in September 2022. This facility would make use of waste plastics derived from end-of-life cars. The enterprise anticipated stepping up its efforts sooner or later to commercialize the creation of recycled polymers to be used in automotive purposes.
Key Firms Profiled
- Plastic Omnium SA
- Magna Worldwide, Inc.
- Futaba Industrial co., ltd.
- Toyoda Gosei Co., ltd.
- Hyundai Mobis Co., ltd.
- Faurecia SA
- Toray Industries, Inc.
- Toyota Boshoku company
- Plastic Omnium
- Smp Deutschland GmbH
The automotive OE bumper cowl market is being favorably impacted by rising shopper emphasis on automobile and driver security, technological enhancements, speedy urbanization, elevated automobile gross sales, shifting buyer preferences, and an increase in disposable earnings. Additionally, through the projected time, automotive OE bumper cowl producers will profit from modern designs and manufacturing methods.
- Mahindra launched the upgraded Bolero in Might 2021 in India. The brand new Mahindra Bolero has a dual-tone paint scheme, with crimson physique coloration, and a silver end on the entrance bumper and grille.
Key Segments of Automotive OE Bumper Cowl Trade Analysis
- By Sort:
- By Course of:
- Injection Molding
- Response Injection Molding
- Vacuum Forming
- By Design:
- Deep Down
- Roll Pan
- By Car:
- Passenger Automobiles
- Industrial Automobiles
- By Area:
- North America
- Latin America
- Asia Pacific & China
- Center East & Africa
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Extra Priceless Insights on Provide
Reality.MR, in its new providing, presents an unbiased evaluation of the worldwide automotive OE bumper cowl market, presenting historic demand information (2018 to 2022) and forecast statistics for the interval (2023 to 2033).
The examine divulges important insights available on the market primarily based on sort (thermoplastic, thermoset, steel), design (commonplace, deep down, roll pan), course of (injection molding, response injection molding, vacuum forming), and automobile (passenger automobiles, industrial automobiles), throughout 5 main areas of the world (North America, Europe, Asia Pacific, Latin America, and the Center East & Africa).
Key Questions Coated within the Automotive OE Bumper Cowl Market Report
- What would be the estimated measurement of the Market in 2023?
- At what fee will the worldwide Automotive OE Bumper Cowl gross sales develop till 2033?
- That are the elements hampering the Automotive OE Bumper Cowl demand?
- Which area will spearhead the expansion within the international business throughout 2023-2033?
- That are the elements driving gross sales within the Automotive OE Bumper Cowl Market through the forecast interval?
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