Bumper Beam Market Trends

Bumper Beam Market Overview

Bumper Beam Market Size was valued at USD 1.5 Billion in 2022. The Global Bumper Beam Industry is projected to grow from USD 1.6 Billion in 2023 to USD 2.2 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 4.20% during the forecast period (2023 - 2032). Vehicle owners' increased concern for safety, as well as manufacturers' expanding use of novel materials, are the key market drivers enhancing the market growth.

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Bumper Beam Market Trends

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  The rising awareness for safety among vehicle owners is driving the market growth

  
  

Over the course of the analysis period, factors like increasing consumer awareness of safety issues and manufacturers' increased use of cutting-edge materials are anticipated to fuel market expansion. The rising demand for lightweight materials is one of the key drivers anticipated to accelerate market expansion. These components lighten vehicles and increase fuel economy. Aluminum, magnesium, and carbon fiber-reinforced polymer (CFRP) bumper beams can provide a significant weight reduction while preserving structural strength and rigidity. Consequently, the market is anticipated to expand as automakers work to lighten their vehicles in order to comply with regulations and consumer demand for fuel-efficient automobiles.

Additionally, the growing emphasis on safety and crashworthiness in the automotive sector is a significant factor in the market. A bumper beam is a crucial part of a car's safety system since it softens the blow of a collision and safeguards the people inside. The market is anticipated to expand in response to rising demand for automobiles that are safer and more crash-proof, particularly in developing economies where safety norms are still in their infancy. A growing number of advanced driver assistance systems (ADAS) are being adopted, which is another element driving the industry. In order to identify objects and other vehicles on the road, ADAS systems like automatic emergency braking (AEB) and lane departure warning (LDW) rely on sensors and cameras positioned in the Beam Bumper. As manufacturers add more ADAS capabilities to their vehicles to increase driver safety and convenience, the market is expected to grow.

The market for Beam Bumper is anticipated to grow as a result of the increased demand for electric vehicles (EVs). Due to their distinct collision criteria and weight distribution from conventional internal combustion engine (ICE) vehicles, EVs often require a different kind of beam bumper. Therefore, as manufacturers engage in creating bumper beams that are optimized for EVs to fulfill the specific safety criteria of these vehicles, the market is anticipated to expand.

Another important element that is predicted to accelerate market expansion in the next years is the rising car manufacturing in developing nations. Demand for autos is anticipated to rise dramatically as developing nations continue to develop and their middle classes grow. As automakers increase their production capacity in these areas to meet increased demand, the market growth is anticipated to accelerate, driving the demand for beam bumper. Sales and profitability in the global automotive industry have increased significantly in developing countries. It is anticipated that automotive application fields like bumpers will modernize how complex automotive procedures are maneuvered. 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. Thus, driving the Bumper Beam market revenue.

Bumper Beam Market Segment Insights

Bumper Beam Type Insights

The Bumper Beam Market segmentation, based on type, includes steel reinforcing beams, plastic reinforcing beam, aluminum reinforcing beam, and others. Steel reinforcing beam segment accounted for the largest revenue share in 2022. In the automobile sector, steel reinforcing beams are utilized to provide a component more strength and longevity. They are frequently used in automotive bumpers because they can withstand heavy loads and stress without breaking. The primary driver of this market's growth is the expansion of automotive production worldwide, particularly in developing nations like India, China, Brazil, and South Africa.

Bumper Beam Application Insights

The Bumper Beam Market segmentation, based on application, includes passenger cars and commercial vehicles. Passenger cars segment dominated the Bumper Beam Market in 2022. The rise of the middle class, which can afford higher vehicle prices, has led to an increase in passenger automobile production in rising economies like China, India, and Brazil, which has contributed to the expansion. As a result of increased demand from the construction sectors in many different locations, including North America and Europe, commercial vehicles are predicted to grow at a high rate over the projection period. Government laws that are strict on the safety standards for commercial vehicles would also increase product demand.

Figure 1: Bumper Beam Market, by Application, 2022 & 2032 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Bumper Beam Regional Insights

By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North America Bumper Beam Market dominated this market in 2022 (45.80%). Through marketing efforts and branding, a number of well-known vendors are promoting the usage of cutting-edge materials in product manufacturing, which is predicted to increase demand for beam bumper throughout the course of the forecast period. Further, the U.S. Bumper Beam market held the largest market share, and the Canada Bumper Beam 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. 

Figure 2: Bumper Beam Market Share By Region 2022 (Usd Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe Bumper Beam 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 Bumper Beam market held the largest market share, and the U.K Bumper Beam market was the fastest growing market in the European region

The Asia Pacific Bumper Beam market is expected to register significant growth from 2023 to 2032. To remain competitive in the industry, the major regional competitors, including Plastic Omnium, Magna International Inc., Hyundai Mobis, and others, have formed alliances with effective retailers and distributors. Moreover, China’s Bumper Beam market held the largest market share, and the Indian Bumper Beam market was the fastest growing market in the Asia-Pacific region.

Bumper Beam Key Market Players & Competitive Insights

Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Bumper Beam 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, Beam 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 global Bumper Beam industry to benefit clients and increase the market sector. In recent years, the Bumper Beam industry has offered some of the most significant advantages to medicine. Major players in the Bumper Beam market, including Thyssenkrupp, Magna International, Benteler Deutschland, Plastic Omnium, HUTCHINSON, CIE Automotive, Futaba Industrial, Sungwoo Hitech, UNIPRES Aisin Takaoka, Tower International, Lingyun Industrial, Minth Group, Yachiyo Industry, Shanghai Jiaoyun Group, Tata AutoComp Systems, and LEAD, are attempting to increase market demand by investing in research and development operations.

On the basis of industry-standard goods and parts, Novotek AB provides industrial-IT and automation solutions. The energy, food, pharmaceutical, petrochemical, metal, manufacturing, paper and mass, infrastructure, water and drainage, and building automation industries all employ the company's products. Process optimization, energy tracking, industrial data provider, production planning, version control, Kepware OPC communication platform, cyber security for production and process networks, and other features are all part of its package. Novitec introduced a carbon fiber body package for the Ferrari 458 Speciale in April 2022. The body kits comprise a trunk-lid side panel (set) with double-fins, an Air-intake louver side window, a cover for taillights, a front spoiler lip, flaps for the front air guide, and others.

German high-performance car aftermarket tuning specialist Brabus GmbH was established in Bottrop (Ruhr region) in 1977. Brabus specializes in Mercedes-Benz, Maybach, and Smart automobiles, while they have since 2022 tuned two other types as well. The main goal of Brabus is to improve horsepower and speed in order to maximize automotive performance. Customers have the option of purchasing cars from Brabus or sending in their own vehicles for customization and/or overhaul. When a customer orders an automobile, Brabus directly buys a specific model from Mercedes and modifies it in accordance with the customer's specifications. Brabus is renowned for its pricey tuning services. Brabus also provides aesthetic upgrades like body kits, splitters made of carbon fiber, and multi-piece alloy wheels. Other improvements include twelve-piston disc brakes, open racing exhaust systems, racing LSDs, and engine remapping. Additionally, customers can have new AMG crate engines customized for them or have completely overhauled engines built for them. Another super truck built by Brabus in September 2022 was based on the Mercedes-Benz AMG G63 SUV. The P 900 Rocket Edition has a pickup bed in back and a wheelbase that is 19.7 inches longer. New bumpers, a transparent hood, a substantial carbon fiber body kit, and rocket-red aluminum accents are added to the vehicle's bodywork.

Key Companies in the Bumper Beam market include

• Thyssenkrupp


• Magna International


• Benteler Deutschland


• Plastic Omnium


• HUTCHINSON


• CIE Automotive


• Futaba Industrial


• Sungwoo Hitech


• UNIPRES


• Aisin Takaoka


• Tower International


• Lingyun Industrial


• Minth Group


• Yachiyo Industry


• Shanghai Jiaoyun Group


• Tata AutoComp Systems


• LEAD

Bumper Beam Industry Developments

July 2023- The latest sighting of a Tesla Model 3 Project Highland version teases upgrades for the sedan's front bumper. Tech content influencer Colin W. from the Bay Area newly sighted a Tesla Model 3 Highland edition. He observed the upgraded Model 3 sedan cruise with Palo Alto, California. Colin revealed pictures of the Tesla Model 3 via his X account @Y2KColin and asked his followers if they spotted any changes. The majority of the pictures the tech content influencer collected showed a Model 3 with the back and front photos hinting that Tesla changed or upgraded the Highland Model 3's front and back, keeping most of the all-electric sedan's body the same. The front bumper of the Model 3 got the most attention. The Tesla Model 3 Highland edition looks a little longer in the front bumper or nose compared to the version presently out on the market. There also appears to be a camera at the tip of the Model 3's nose, like the Cybertruck. The latest camera placement indicates that the Model 3 Highland is completely armed for Tesla Vision and no longer has ultrasonic sensors.

June 2023- A smallcap company in India's automotive sector, JBM Auto, has offered huge returns to investors over the decade, with shares increasing by over 9962%. If an investor had funded INR 10,000 ($135) ten years ago, it would have swelled to INR 10 lakh ($13,540), as per ET Markets analysis. Shares of JBM Auto have provided major returns to investors in the last ten years. The shares have increased 9962% over the decade. Therefore, if an investor had financed Rs 10,000 in the stock ten years ago and stayed put, the investment would have enlarged to Rs close to 10 lakh, according to an analysis by ET Markets.

Bumper Beam Market Segmentation

Bumper Beam Type Outlook

• Steel Reinforcing Beams


• Plastic Reinforcing Beam


• Aluminum Reinforcing Beam


• Others

Bumper Beam Application Outlook

• Passenger Cars


• Commercial Vehicles

Bumper Beam Regional Outlook

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  Middle East
  
  


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  Africa
  
  


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  Latin America