Automotive Bumper Market size was valued at USD 10.1 Billion in 2022. The Automotive Bumper market industry is projected to grow from USD 10.7 Billion in 2023 to USD 16.7 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.76% during the forecast period (2023 - 2032). A rise in the demand for lightweight bumpers, the usage of crash-absorbing thermoplastic olefins, technological advancements, and safety ratings, are the key market drivers enhancing the market growth.
Source Secondary Research, Primary Research, MRFR Database and Analyst Review
The main factor driving the expansion of the Automotive Bumper market trends is the rise in consumer desire for high-end goods at extremely low prices. It was anticipated to have a favourable effect on the market's production dynamics. The shifts in demographic trends, strict regulatory safety scenarios, and fuel efficiency are the main drivers of the global market. Additionally, the demand for automotive bumpers in automobiles is rising as more and more additional safety-related elements are being added to new models' standard equipment.
Sales and profitability in the global automotive industry have increased significantly in developing countries. It is anticipated that automotive application areas like bumpers would modernise how complex automotive processes are moved around. In both North America and Europe, there has been a rising emphasis on regulatory standards. Most nations outside of North America now adhere to international safety requirements, which were initially developed as European standards with help from the UN. Beginning in 2016, automobiles must now average 34.1 miles per gallon due to U.S. CAFE rules. Over the next seven years, it is anticipated that the primary industry drivers—including shifting demographic patterns, strict safety and fuel economy regulations, and the availability of information—will present enormous potential to suppliers. Rising consumer demand for high-end goods at affordable prices is anticipated to have a favourable effect on industry dynamics with regard to production. More and more new models are coming equipped with safety-related features.
In today's society, most people try to set themselves apart from others, so the rising consumer preference for an entertaining driving experience, along with rising vehicle customization among the young population, are thought to be the main factors driving the market growth during the forecast period. Through the use of their cars, car owners express their personality, making them stand out from other cars and more comfortable. In the upcoming years, it is anticipated that the active involvement of auto enthusiasts and users of high-end sports and racing automobiles in boosting the market's overall performance through bumpers would further boost demand. The market demand for car bumpers is also influenced by common incidents that result in spoilers and bumper damages.
Automobile bumper sales are rising directly in direct proportion to increased vehicle manufacturing. Both passenger and commercial vehicle numbers are steadily increasing. The need for automobiles has increased along with the movement of various items as a result of the expansion of international trade, and this has led to an increase in the demand for automotive bumpers. Vehicle safety is improved by the usage of automotive bumpers. Due to a lack of safety procedures taken by motorists, accidents have increased. Automotive bumpers are permanently installed on automobiles to reduce the harm done. This is yet another market-driven factor. Additionally, there are rules that must be observed when creating cars in terms of durability, safety, aesthetics, and design. These restrictions force the installation of bumpers on automobiles, which also stimulates the market. Companies are developing innovative automotive bumpers after extensive research and development to match the safety criteria and look good on vehicles. Since there are tight rules regarding the disposal of plastic, recycling old automobile bumpers to be moulded and connected to new cars presents an opportunity for the automotive plastic bumper market. Raw material price fluctuations may serve as a market restraint. Thus, driving the Automotive Bumper market revenue.
The Automotive Bumper market segmentation, based on Materials, includes Composite Plastic, Metal, and Fiber. Composite plastic segment dominated the global market in 2022. For vehicle body parts, composite plastic, a copolymer, offers resilience, toughness, and heat resistance. The mix of stiffness, hardness, and toughness it delivers is exceptional. The aforementioned characteristics make it ideal for automotive bumpers, and as a result, it is widely employed in the industry.
The Automotive Bumper market segmentation, based on Positioning, includes Front Ends and Rear Ends. Front ends segment dominated the global market in 2022. This can be explained by consumer preferences for several aspects of automobiles, including safety and aesthetics.
The Automotive Bumper market segmentation, based on End Market, includes OEM and Aftermarket. Aftermarket segment dominated the Automotive Bumper market in 2022. For both passenger cars and commercial vehicles, there is a significant market for aftermarket automobile bumpers.
Figure 1 Automotive Bumper Market, by End Market, 2022 & 2032 (USD Billion)
Source Secondary Research, Primary Research, MRFR Database and Analyst Review
By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North America Automotive Bumper Market dominated this market in 2022 (45.80%). The need for automobile bumpers has expanded along with the demand for luxury vehicles. Although there are numerous local businesses that provide bumper guards, only a select few suppliers provide industry-standard goods that are impervious to weather and simple to maintain. Further, the U.S. Automotive Bumper market held the largest market share, and the Canada Automotive Bumper market was the fastest growing market in the North America region.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Source Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe Automotive Bumper market accounted for the healthy market share in 2022. The main force behind Europe's creativity and expertise in this field is anticipated to be a comparatively high number of skilled workers, as evidenced by their largest foreign investment in R&D. The European Commission intends to strengthen internal market laws in order to further support this sector. The major companies in the European market include Valeo, GKN, and Delphi Automotive. Further, the German Automotive Bumper market held the largest market share, and the U.K Automotive Bumper market was the fastest growing market in the European region.
The Asia Pacific Automotive Bumper market is expected to register significant growth from 2023 to 2032. To survive in the market, the major regional businesses, including Plastic Omnium, Magna International Inc., Hyundai Mobis, etc., have formed alliances with effective retailers and distributors. Moreover, China’s Automotive Bumper market held the largest market share and the Indian Automotive Bumper market was the fastest growing market in the Asia-Pacific region.
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Automotive Bumper market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Automotive Bumper industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the Automotive Bumper industry to benefit clients and increase the market sector. In recent years, the Automotive Bumper industry has offered some of the most significant advantages to medicine. Major players in the Automotive Bumper market, including Toyota Boshoku Corporation, Plastic Omnium, Magna International, Inc., Toyoda Gosei Co., Ltd, SMP Deutschland GmbH, Yanfeng Plastic Omnium automotive Exterior Systems Co. Ltd, JiangNan Mould & Plastic Technology Co., Ltd., Venture Otto SA (Pty) Ltd., NTF Private Ltd, and Fab Fours, Inc., are attempting to increase market demand by investing in research and development End Markets.
Koda Auto Polska is a Polish-based supplier of automobiles. The business also provides a wide range of services, such as consulting, financing for its clients, educational auto school training, obtaining a licence, and other associated services, in addition to importing and selling passenger automobiles and light commercial vehicles. Official design designs for the next Skoda Enyaq Coupe iV with a gently sloping roofline, a dramatic tear-off edge at the back, and body-color side skirts were unveiled by Skoda Auto in January 2022. The new Enyaq Coupe iV is the first all-electric model series built on the Modular Electrification Toolkit (MEB) developed by the Volkswagen Group. With a mid-life update in February 2021, Toyota gave the Fortuner a facelift in India, including a number of new interior and external elements as well as some technical improvements. Toyota also unveiled a brand-new Fortuner Legender model in India.
Avtovaz AO is a Russian business that manufactures and sells passenger cars. It provides auto service centres and engages in the production and marketing of vehicles, assembly kits, and finished automotive components. Under the Lada Granta brand and its subbrands Renault and Nissan, the firm manufactures hatchback, waggon, crossover, sedan, liftback, and coupe models. The company divides its clientele into the Automotive and Dealership network categories. The automotive sector, which includes sales of auto spare parts, other manufacture, and domestic automobile technical services, accounts for the majority of its revenue. AvtoVAZ declared in July 2022 that it has increased the selection of LADA Granta trim levels for the 2022 model year and started making Cross variants once more.
In February 2024, MBA Polymers UK Ltd. initiated a recycling program aimed at repurposing broken or obsolete car bumpers into polymers suitable for the automotive sector. MBA Polymers UK has launched a new service that involves receiving bumpers from authorized treatment facilities (ATFs) at two of its U.K. sites. This service offers several sustainability benefits, including reducing plastic waste in landfills, minimizing carbon emissions in material production, helping car manufacturers meet recycling targets, and promoting a standardized circular economy in the automotive industry. MBA Polymers UK will be able to produce enhanced performance grades for the automotive sector by recycling bumpers directly instead of reclaiming the polymers after automobile shredding procedures.
In April 2024, the highly anticipated fourth-generation Maruti Suzuki Swift is scheduled to be launched in the upcoming month. According to sources, the new Swift is anticipated to be released in May. The majority of the design of the 2024 Maruti Swift will be similar to the international model, with some special modifications tailored for the Indian market. The upcoming Maruti Suzuki Swift will feature a revamped interior and exterior appearance. The brand will receive a new LED headlamp on its outside, which will be seamlessly incorporated into an L-shaped LED daytime running light (DRL), resulting in a stylish and contemporary look. In India, the Swift will get a chrome surround around the front grille on all or most of its variants, as depicted in the featured image at the top. Chrome is available for purchase in India, and it is anticipated that Maruti will incorporate the feature in the Indian market without discontinuing it. In India, the inside of the new Swfit is identical to that of the European Swift, with the steering wheel and buttons positioned on the right side. However, there have been no official photographs released of the interior at this time. Maruti will maintain a stylish and attractive interior appearance, incorporating a touch of color on the dashboard.
April 2022 A carbon fibre body package for the Ferrari 458 Speciale was released by Novitec. The body kits comprise a trunk-lid side panel (set) with double-fins, an Air-intake louvre side window, a cover for taillights, a front spoiler lip, flaps for the front air guide, and others.
| Report Attribute/Metric | Details |
| Market End Market 2022 | USD 10.1 Billion |
| Market End Market 2023 | USD 10.7 Billion |
| Market End Market 2032 | USD 16.7 Billion |
| Compound Annual Growth Rate (CAGR) | 5.76% (2023-2032) |
| Base Year | 2022 |
| Market Forecast Period | 2023-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Materials, Positioning, End Market, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The U.S., Canada, German, France, U.K, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Toyota Boshoku Corporation, Plastic Omnium, Magna International, Inc., Toyoda Gosei Co., Ltd, SMP Deutschland GmbH, Yanfeng Plastic Omnium automotive Exterior Systems Co. Ltd, JiangNan Mould & Plastic Technology Co., Ltd., Venture Otto SA (Pty) Ltd., NTF Private Ltd, and Fab Fours, Inc. |
| Key Market Opportunities | Innovation in automotive bumpers through R&D |
| Key Market Dynamics | Increase in demand for lightweight bumpers, use of thermoplastic olefins to absorb crash, technological developments & safety ratings |
Automotive Bumper Market Highlights:
Frequently Asked Questions (FAQ) :
The Automotive Bumper market End Market was valued at USD 10.1 Billion in 2022.
The global market is projected to grow at a CAGR of 5.76% during the forecast period, 2023-2032.
North America had the largest share in the global market
The key players in the market Toyota Boshoku Corporation, Plastic Omnium, Magna International, Inc., Toyoda Gosei Co., Ltd, SMP Deutschland GmbH, Yanfeng Plastic Omnium automotive Exterior Systems Co. Ltd, JiangNan Mould & Plastic Technology Co., Ltd., Venture Otto SA (Pty) Ltd., NTF Private Ltd, and Fab Fours, Inc.
The Composite Plastic Materials dominated the market in 2022.
The Front Ends Positioning had the largest share in the global market.
Leading companies partner with us for data-driven Insights.
Kindly complete the form below to receive a free sample of this Report
Team Lead - Research With a technical background as bachelor's in mechanical engineering, with mba in operations management , swapnil has 6+ years of experience in market research, consulting and analytics with the tasks of data mining, analysis, and project execution. he is the poc for our clients, for their consulting projects running under the automotive/a&d domain. swapnil has worked on major projects in verticals such as aerospace & defense, automotive and many other domain projects. he has worked on projects for fortune 500 companies' syndicate and consulting projects along with several government projects.
Get in Touch
© 2024 Market Research Future ® (Part of WantStats Reasearch And Media Pvt. Ltd.)
