An automotive bumper is a structure that is connected to or integrated with the front & rear ends of the vehicle. Bumpers play an important role in absorbing the impact during collisions. The bumpers cannot reduce the effect of impact at high speeds but they can reduce the injury caused to the pedestrians. The bumpers also protect other crucial vehicle components such as the hood, fuel system, exhaust, and cooling system. Apart from the safety feature, the automotive bumper is also used for aesthetic enhancement.
The global automotive bumper market is driven by increase in sales of automobiles globally, increase in customer demand for advanced safety features, and strengthening safety regulations. Technological advancement and the use of composite materials, and growing trend toward lightweight components are anticipated to provide lucrative growth opportunities for the market. On the contrary, fluctuation in the price of raw materials and increasing trend towards EV are expected to hinder the market growth rate during the forecast period.
In recent years, there has been an increase in customer inclination toward advanced safety features in automobiles. The demand for cutting-edge safety features is increasing due to technological advancement in the automobile industry and increase in automobile safety standards, strengthening government regulations, and an increase in customer spending towards safety features.
Additionally, the growth in autonomous and self-driving technology has helped in reducing transit time, reducing traffic congestion, and improving overall traffic flow, leading to faster and more efficient travel. However, these technologies are still in their infant stage, and there are skeptical concerns regarding this advanced technology's reliability and their likelihood of collisions. Customers and automobile manufacturers are more inclined towards the safety features in autonomous and self-driving vehicle technology. Thus, growing research and development activities for the development of advanced safety features is increasing which is likely to create demand for automotive bumpers during the forecast period.
Furthermore, there has been an increasing trend toward the use of lightweight components in automobiles, due to their ability to significantly reduce vehicle weight and thereby enhance safety, fuel economy, and emissions. For an average vehicle about 80% of the vehicle weight consist of body, chassis, motor, and other external components. Majority of the automobile manufacturers are concentrating on these parts in order to reduce total weight.
According to studies by the U.S. Department of Energy, a 10% reduction in vehicle weight can lead to a 6-8% reduction in fuel consumption and a 5-6% reduction in emission volume. Automobile bumper manufacturers are focusing on manufacturing of lightweight vehicle components including automotive bumpers. Thus, the growing trend towards the use of light components in automobiles is anticipated to provide lucrative growth opportunities.
However, the production costs of automobile bumpers are significantly affected by fluctuations in the price of raw materials such as plastic, aluminum, and steel. These raw materials are crucial for the production of automotive bumpers. Due to the depletion of mineral reserves and a declining quantity of metals accessible from ores, there is a shortage in iron and aluminum production, which increases the overall production costs of automotive bumpers. Additionally, the global demand for plastic, iron, and aluminum is exceeding the overall raw material supply, creating a shortage that is potentially leading to the fluctuation in its price.
For instance, in recent years, the prices for raw materials, primarily aluminum, have grown immensely due to supply chain disruption during the COVID-19 pandemic and the impact of the Russia-Ukraine war. Aluminum is the third most traded metal, and its major manufacturers are China, Russia, Canada, and UAE. The shortage and fluctuation in the prices of this raw material are anticipated to hinder the market growth during the forecast period.
The global automotive bumpers market is segmented on the basis of type, material and vehicle type. On the basis of type, the market is segmented into standard bumper, deep drop bumper, roll plan bumper, step bumper, and tube bumper. Based on material, the market is analyzed into steel, aluminum, fiber and plastic. By vehicle type, the market is segmented into passenger vehicle and commercial vehicle. Region wise, the market is analyzed into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa.
The key companies profiled in the report include TOYODA GOSEI Co., Ltd., FORVIA Faurecia, TOYOTA BOSHOKU CORPORATION, SMP Deutschland GmbH, Flex-N-Gate Corporation, Plastic Omnium, MONTAPLAST GmbH, WARN International Ltd, NTF GROUP, and KIRCHHOFF Group.
The global automotive bumper market is driven by increase in sales of automobiles globally, increase in customer demand for advanced safety features, and strengthening safety regulations. Technological advancement and the use of composite materials, and growing trend toward lightweight components are anticipated to provide lucrative growth opportunities for the market. On the contrary, fluctuation in the price of raw materials and increasing trend towards EV are expected to hinder the market growth rate during the forecast period.
In recent years, there has been an increase in customer inclination toward advanced safety features in automobiles. The demand for cutting-edge safety features is increasing due to technological advancement in the automobile industry and increase in automobile safety standards, strengthening government regulations, and an increase in customer spending towards safety features.
Additionally, the growth in autonomous and self-driving technology has helped in reducing transit time, reducing traffic congestion, and improving overall traffic flow, leading to faster and more efficient travel. However, these technologies are still in their infant stage, and there are skeptical concerns regarding this advanced technology's reliability and their likelihood of collisions. Customers and automobile manufacturers are more inclined towards the safety features in autonomous and self-driving vehicle technology. Thus, growing research and development activities for the development of advanced safety features is increasing which is likely to create demand for automotive bumpers during the forecast period.
Furthermore, there has been an increasing trend toward the use of lightweight components in automobiles, due to their ability to significantly reduce vehicle weight and thereby enhance safety, fuel economy, and emissions. For an average vehicle about 80% of the vehicle weight consist of body, chassis, motor, and other external components. Majority of the automobile manufacturers are concentrating on these parts in order to reduce total weight.
According to studies by the U.S. Department of Energy, a 10% reduction in vehicle weight can lead to a 6-8% reduction in fuel consumption and a 5-6% reduction in emission volume. Automobile bumper manufacturers are focusing on manufacturing of lightweight vehicle components including automotive bumpers. Thus, the growing trend towards the use of light components in automobiles is anticipated to provide lucrative growth opportunities.
However, the production costs of automobile bumpers are significantly affected by fluctuations in the price of raw materials such as plastic, aluminum, and steel. These raw materials are crucial for the production of automotive bumpers. Due to the depletion of mineral reserves and a declining quantity of metals accessible from ores, there is a shortage in iron and aluminum production, which increases the overall production costs of automotive bumpers. Additionally, the global demand for plastic, iron, and aluminum is exceeding the overall raw material supply, creating a shortage that is potentially leading to the fluctuation in its price.
For instance, in recent years, the prices for raw materials, primarily aluminum, have grown immensely due to supply chain disruption during the COVID-19 pandemic and the impact of the Russia-Ukraine war. Aluminum is the third most traded metal, and its major manufacturers are China, Russia, Canada, and UAE. The shortage and fluctuation in the prices of this raw material are anticipated to hinder the market growth during the forecast period.
The global automotive bumpers market is segmented on the basis of type, material and vehicle type. On the basis of type, the market is segmented into standard bumper, deep drop bumper, roll plan bumper, step bumper, and tube bumper. Based on material, the market is analyzed into steel, aluminum, fiber and plastic. By vehicle type, the market is segmented into passenger vehicle and commercial vehicle. Region wise, the market is analyzed into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa.
The key companies profiled in the report include TOYODA GOSEI Co., Ltd., FORVIA Faurecia, TOYOTA BOSHOKU CORPORATION, SMP Deutschland GmbH, Flex-N-Gate Corporation, Plastic Omnium, MONTAPLAST GmbH, WARN International Ltd, NTF GROUP, and KIRCHHOFF Group.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the automotive bumper market analysis from 2022 to 2032 to identify the prevailing automotive bumper market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the automotive bumper market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global automotive bumper market trends, key players, market segments, application areas, and market growth strategies.
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Key Market Segments
By Type
- Deep Drop Bumper
- Roll Pan Bumper
- Step Bumper
- Tube Bumper
- Standard Bumper
By Material
- Steel
- Aluminum
- Fiber
- Plastic
By Vehicle Type
- Passenger Vehicle
- Commercial Vehicles
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Spain
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- Latin America
- Brazil
- Argentina
- Rest of Latin America
- Middle East and Africa
- Gcc Countries
- South Africa
- Rest of Middle East And Africa
Key Market Players
- Toyoda Gosei Co., Ltd.
- FORVIA Faurecia
- TOYOTA BOSHOKU CORPORATION
- SMP Deutschland GmbH
- Flex-N-Gate Corporation
- Plastic Omnium
- montaplast gmbh
- NTF GROUP HOLDING
- KIRCHHOFF Group
- WARN International Ltd
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: AUTOMOTIVE BUMPER MARKET, BY TYPE
CHAPTER 5: AUTOMOTIVE BUMPER MARKET, BY MATERIAL
CHAPTER 6: AUTOMOTIVE BUMPER MARKET, BY VEHICLE TYPE
CHAPTER 7: AUTOMOTIVE BUMPER MARKET, BY REGION
CHAPTER 8: COMPETITIVE LANDSCAPE
CHAPTER 9: COMPANY PROFILES
LIST OF TABLES
LIST OF FIGURES
Companies Mentioned
- Toyoda Gosei Co., Ltd.
- FORVIA Faurecia
- TOYOTA BOSHOKU CORPORATION
- SMP Deutschland GmbH
- Flex-N-Gate Corporation
- Plastic Omnium
- montaplast gmbh
- NTF GROUP HOLDING
- KIRCHHOFF Group
- WARN International Ltd
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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