Automotive Front End Module Market to Reach US $122 Bn Value by the End of 2022
According to the Fact.MR report, the global market for automotive front end modules is likely to reach US$ 122 Bn value by the end of 2022, reflecting a steady CAGR during 2017-2022.
Rockville, WA -- (SBWire) -- 08/29/2018 --Modular front ends continue to enhance the design and assembly of passenger cars. Car buyers from around the world are affirming that an attractive front-end module of a car is its biggest USP. The global demand for these multipiece assemblies is expected to soar in parallel with the surging global automobile production, however, manufacturers are constantly seeking for renovated designs that render greater efficiency in automobile manufacturing. Fact.MR's recent study on the global automotive front end module market offers valuable insights for automakers that are striving to end the era of traditional front ends.
According to the report, the global market for automotive front end module is expected close in on US$ 95 Bn value by the end of 2017. Increasing penetration of advanced manufacturing technologies in the automotive sector is expected to assist manufacturers in designing modular front ends. Moreover, surging use of composite and hybrid composite materials in production of automobiles is also driving the demand for automotive front end modules. Towards the end of 2022, the global market for automotive front end module is anticipated to be worth over US$ 120 Bn, exhibiting a healthy growth at steady CAGR.
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These seven insights on the global automotive front end module market elucidates future prospects lucrative for automobile manufacturers.
The report observes Asia-Pacific excluding Japan (APEJ) region most lucrative for expansion of the global automotive front end module market. Over the assessment period, it is anticipated that APEJ automotive front end module market will soar robustly at steady CAGR.
Europe is also predicted at the front end of the automotive front end module market. By 2022, Europe's automotive front end module sales will have accounted for a gross value of US$ 24.5 Bn.
In 2017, North America's automotive front end module market is anticipated to reach US$ 16.2 Bn in value, owing to rising adoption of new composites in production of car modules.
Passenger cars are anticipated to dominate the global automotive front end module revenues, accounting for largest share through 2022. Revenues netted from adoption of automotive front end module in production of passenger cars are expected to surge steadily at steady CAGR over the forecast period.
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Demand for composite front-end modules is likely to remain higher than modules made from plastic or metals. In 2017, over US$ 50 Bn worth of automotive front end modules sold across the globe will be made out of composite materials.
Lower replacement rate of automotive front end modules, coupled with less demand for modified front end modules in automotive aftermarkets, are indicating that OEMs will remain the largest sales channels in the global market. By 2022, more than US$ 80 Bn worth of automotive front end modules will be sold through OEMs.
Hyundai Mobis Co. Ltd., MAHLE GmbH, Denso Corporation, Faurecia SA, HBPO GmbH, Magna International Inc., Valeo SA, Montaplast GmbH, Compagnie Plastic Omnium SA, Murata Manufacturing Co. Ltd., and Samvardhana Motherson Automotive Systems Group B.V. are profiled in the report as key companies partaking in the growth of global automotive front end module market.
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