Rockville, MD -- (SBWire) -- 03/09/2018 --The automotive front end market is riding on the coattails of industry-wide shift toward lighter, efficient, and aesthetically-pleasing features. As automotive front end module garner consumer attention, an opportunity to capture profit potential is in the offing for automakers and suppliers. Modular front ends have modernized the design and assembly of passenger vehicles. OEM production lines from around the world are discarding the conventional piecemeal assembly method, and instead, opting for front-end modules.
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Growing preference to cars built on monocoque architecture is influencing the adoption of automotive front-end modules as they fit well on unibody chassis. Manufacturers of front-end modules are witnessing surplus demand as many OEMs are eliminating their assembly-line steps by outsourcing the entire front end of their vehicle offerings. While their presence in production of compact & mid-size cars is prevalent, automotive front end modules are yet to gain steadfast application in body-on-frame construction of SUVs and large commercial vehicles.
Front end modules are ultra-small built-in modules integrated with various functional components used in wireless front end circuits, such as LTE, Wi-Fi, Bluetooth, and GPS. Murata offers various front end modules for devices and functions, such as modules integrated with filters, RF switches and matching circuits.
According to the Fact.MR report, the global market for automotive front end modules is likely to reach US$ 122 Bn value by the end of 2022, reflecting a steady CAGR during 2017-2022.
Miniaturization of components with smart technology a winning combo
The automotive front end module market is expected to be a major beneficiary of two key trends – miniaturization coupled with the IoT and smart technology. As consumers wish to be connected 24/7 now including in their vehicles, there will be a pressing need for front end module components that have LTE, Bluetooth, GPS, and Wi-Fi connectivity built in. The near-continuous miniaturization of these components will allow them to be seamlessly integrated into the automotive front end module market. However, supply chain constraints can stifle key stakeholders as they might not be able to secure the necessary quantity, leading to a price rise and thereby restraining their ability to be competitive in the automotive front end module market. This can have a negative impact on the overall automotive front end module market that is poised to record impressive growth and reach a value of slightly over US$ 121 billion in 2022, with a steady CAGR.
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OEM's twice the size of aftermarket channel in automotive front end module market
The OEM channel is likely to grow by US$ 20 billion in the five-year span of the study. The OEM channel will account for largest revenue share of the automotive front end module market. On the other hand, the aftermarket channels are only foreseen to grow to an impressive market value by the end of 2022. Thus, it is recommended that major players in the automotive front end module market target the OEM channel as opposed to the aftermarket one.
Competition Tracking
The report has also profiled key manufacturers of automotive front end modules, which include companies such as Murata manufacturing Co. ltd., Faurecia SA, Denso Corp., MAHLE GmbH, HBPO Group, Magna International Inc., Hyundai Mobis, Plastic Omnium Group, Samvardhana Motherson Automotive Systems Group, SL Corporation, Valeo S.A., and Montaplast GmbH.
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Global Automotive Front End Module Market Forecast, Trend Analysis & Opportunities Till 2022