AutomotiveFront End Module Market:
The automotivefront end module market witnesses rising revenue. The market growth attributesto the rising demand for lightweight vehicles and technically advanced front endmodules. Standardized modular FEM allows the standard design to be used inmultiple models, thus saving a considerable cost. Also, FEMs can be installedat the end of the assembly sequence, which saves time & cost during themanufacturing process of the vehicle.
Besides, therising trend of lightweight FEM composites, such as polypropylene, increasesthe market size, fostering fuel efficiency and the performance of vehicles.Simultaneously, FEM systems also increase manufacturing plants' capabilities bytroubleshooting & protecting workers from difficult and dangerous jobs,which, in turn, escalates the market growth.
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According toMarket Research Future (MRFR), the global automotive front end module market isexpected to grow at 6% CAGR throughout the forecast period (2016 – 2022). Front end modules are extensively used acrossvehicle manufacturing plants, including assembly line spot welding andpainting. There are also many more opportunities to use the front end modulethroughout the supply chain.
Additionally,rising implementation of front end modules in aftermarket parts manufacturers& OEMs substantiate the market demand. Subsequently, the increasing trendof automation across automotive part manufacturing and assembly operationsincrease market sales. Conversely, government regulations are significantfactors projected to impede the growth of the market. Nevertheless, growingconcerns for labor safety and the adoption of FEM to ensure quality &timely production would support the market growth throughout the review period.
GlobalAutomotive Front End Module Market -Segmentation
The report issegmented into four dynamics:
By Material : Steel, Composite, Plastic, andothers.
By Component : Headlight, Front Grill, Radiator, Condenser,Horn Assembly, Oil Cooler, and others.
By Vehicle : Passenger andCommercial Vehicles.
By Regions : Europe, America, Asia Pacific, and Rest-of-the-World.
GlobalAutomotive Front End Module Market -Regional Analysis
The Asia Pacificregion dominates the global automotivefront end module market. The region shows a significant growth inautomotive components. The largest market share attributes to the increasingdemand for vehicles and increasing disposable income among demographics thatincrease consumer purchasing power. Emerging economies like China, India aremajor markets for automotive front end modules in the region.
Moreover, hugetechnological advancements, alongside the massive uptake of advanced moduletechnologies, foster the growth in the regional market. Furthermore, increasedR&D activities led by the rapid economic growth propel the regional marketgrowth. The APAC front end module market would retain its dominance throughoutthe assessment period.
North Americastands second in the front end module market. The region has state-of-the-artdevelopment centers that allow the designing, programming, and implementationof advanced modules. Additionally, the presence of a well-establishedautomotive sector and several automakers positively impact the growth of theregional market.
The US, headingwith the vast technological advancement in robotics, not only dominates theregional market but also accounts for the largest revenue generator in theglobal automotive Front End Module market. The North America automotive frontend module market is projected to create a substantial revenue pocket duringthe review period.
The Europeanautomotive front end module market has emerged as a promising market globally.The market growth is driven by the presence of many giant auto manufacturersdrive the regional market growth. Moreover, increasing R & D activities to develop front end modulesact as a significant tailwind for the development of the market. Germany,heading with both a flourishing automotive sector and the availability offuturistic technologies, lead the regional market.
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GlobalAutomotive Front End Module Market -Competitive Analysis
Highlycompetitive, the automotive front end module market appears fragmented due tothe presence of several well-established players. Technology providers adoptstrategic initiatives such as mergers & acquisitions, expansion, technologyinnovations, and product & service launch to gain a larger competitiveshare, intensifying the competitive environment of the market.
Maturedtechnology providers increasingly focus on maximizing their market share whilesmall players find it challenging to compete with them. Many brands haveoutlined plans to widen the penetration by including various technologies totheir product portfolio. These strategies also help players to gain a largercompetitive advantage in the market and to meet their expansion plans.
MajorPlayers:
Players leadingthe global automotive front end module market include Faurecia SA, Mahle GmbH,Denso Corporation, HBPO Group, Calsonic Kansei Corporation, Magna InternationalInc., Plastic Omnium, Hyundai Mobis, Valeo SA, and SL Corporation, amongothers.
Industry/Innovation/ Related News
August 26,2020-- Porsche AG (Germany), a leading automobile manufacturer, launchedits new comprehensively revamped model named Porsche Panamera that covers aneven wider spectrum, combining a sports car's performance with the comfort ofan exclusive saloon. The new top-of-the-range model would pursue Porche'se-performance strategy.
The new Panameramodels are now equipped from the factory with the previously optional sportdesign front end with striking air intake grilles, large side cooling openings,and a single-bar front light module.
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