Market Research Future (MRFR) has published a cooked research report on the “Global Automotive Fender Market” that contains information from 2018 to 2032. The Automotive fender market is estimated to register a CAGR of 4.40% during the forecast period of 2023 to 2032.
MRFR recognizes the following companies as the key players in the global automotive fender market— Thyssenkrupp, Magna International, Sungwoo Hitech, Hitachi Chemical, Benteler Deutschland, HUTCHINSON, Futaba Industrial, Tata AutoComp Systems., Plastic Omnium, Faurecia and others
Automotive Fender Highlights
The global automotive fender market is accounted to register a CAGR of 4.30% during the forecast period and is estimated to reach USD 13.36 Billion by 2032.
The automotive fender market involves the production of vehicle fenders, which are crucial for aesthetics and safety. With increased vehicle production and the need for better design and durability, fender manufacturers are adapting to meet industry demands.
Browse In-depth Details [Table of Content, List of Figures, List of Tables] of Automotive Fender Market Trends
Segment Analysis
The global automotive fender market has been segmented based type, vehicle type and sales channel.
On the basis of type, the market is segmented into steel, fiberglass and carbon fiber. The steel segment dominated the market in 2022. For the automotive industry, the rules governing safety and crashworthiness are highly stringent.
Based on vehicle type, the global automotive fender market has been segmented into type, includes passenger cars and commercial vehicles. The passenger cars segment dominated the market in 2022. Passenger automobiles make up the vast majority of the vehicles used on the world's roads.
Based on sales channel, the global automotive fender market has been segmented into OEM and aftermarket. The OEM category generated the most income in 2022. OEMs have high criteria for both quality and safety. They require premium materials and production methods to ensure the durability and safety of their automobiles.
Regional Analysis
The global automotive fender market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe Automotive fender market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The Automotive fender market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World Automotive fender market comprises of Middle East, Africa, and Latin America.
The North America automotive fender market dominated this market in 2022 (45.80%). North American shoppers strongly favor larger vehicles like trucks, SUVs, and crossovers. These larger vehicles usually require more robust and durable fenders due to their greater weight and tendency for off-road activity. As a result, there has been a steady rise in demand for larger, more robust fenders.
Moreover, the second-largest market share is held by the automotive fender market in Europe. Europe has the strictest pollution regulations in the entire globe. To comply with these rules, European automakers are increasingly adopting lightweight materials, aerodynamic designs, and effective powertrains. This trend also holds true for fenders, which are designed to optimize aerodynamics and decrease weight to raise the overall effectiveness of the vehicle.
Additionally, the Asia-Pacific automotive fender market is expected to grow at the fastest CAGR from 2023 to 2032. The sustainability of the environment and fuel efficiency are also important issues in the Asia-Pacific region. To meet more strict emissions standards, automakers are responding by designing automobiles with lighter components and greater aerodynamics. Fenders from this area aid in achieving these goals and encourage innovation in terms of both materials and design.
Furthermore, the rest of the world's automotive fender market is divided into the Middle East, Africa, and Latin America. The automotive fender market in Latin America is influenced by increasing vehicle production and safety standards. Fender manufacturers are focusing on providing durable and stylish solutions. As the automotive industry in Latin America evolves, there is a continuous demand for high-quality fenders.
Key Findings of the Study
- The global automotive fender market is expected to reach USD XX Billion by 2032, at a CAGR of 4.30% during the forecast period.
- The Asia-Pacific region accounted for the fastest-growing global market due to the increasing emphasis placed on green energy and carbon emission reduction by government bodies through policies and initiatives
- Based on sales channel, the OEM segment was attributed to holding the largest market in 2022,
- Thyssenkrupp, Magna International, Sungwoo Hitech, Hitachi Chemical, Benteler Deutschland, HUTCHINSON, Futaba Industrial, Tata AutoComp Systems., Plastic Omnium, Faurecia and others
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Companies Covered | 15 |
Pages | 128 |
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