Is IoT Integration Fueling Sales of Composite Automotive Front End Modules: Latest Study By Fact.MR
SEOUL--(Korea Newswire) April 12, 2022 -- Fact.MR envisages that the demand for automotive front-end module is projected to expand at a CAGR of 5.1% during the period of forecast, 2017-2022. The steady adoption of automotive front-end module is likely to translate into sales nearly cross US$ 121,000 Mn by end of the assessment period, according to the report.
The recently published market study by Fact.MR highlights the current trends that are expected to influence the dynamics of the Automotive Front End Module Market in the upcoming years. The report introspects the supply chain, cost structure, and recent developments pertaining to the Automotive Front End Module Market in the report and the impact of the COVID-19 on these facets of the market. Further, the micro and macro-economic factors that are likely to impact the growth of the Automotive Front End Module Market are thoroughly studied in the presented market study.
Smart Automotive Front End Module Has Embossed A Positive Impact on The Industry
Industry-wide shift toward efficient, aesthetically pleasing and lightweight features continues to influence the growth of the automotive front-end module market. With growing consumer inclination toward vehicle front-end modules, heavy investments are being made in the automotive front-end module space as manufacturers opt for miniaturization of their products. In addition, the evolution of smart automotive front-end module has embossed a positive impact its market’s growth on the coattails of the increasing proliferation of Internet of Things (IoT).
Key Segments Covered
- Metal Automotive Front End Module
- Composite Automotive Front End Module
- Plastic Automotive Front End Module
· Vehicle Type
- Passenger Cars (PC)
- Light Commercial Vehicles (LCV)
- Heavy Commercial Vehicles (HCV)
· Sales Channel
- Automotive Front End Module Sales via OEMs
- Automotive Front End Module Sales via Aftermarkets
Sales of automotive front-end module are likely to remain concentrated in the emerging economies in the Asia Pacific occluding Japan (APEJ). China, in particular, is expected to cement its dominance in the Asia Pacific excluding Japan (APEJ) automotive front-end module market owing to the rapidly evolving automotive sector in the country, says the report. Sales of automotive front-end module in APEJ are estimated to surpass US$ 55,000 Mn by end of 2022, making it an attractive market for stakeholders. Tug of war between North America and Europe is being witnessed in the automotive front-end module market, with the latter having a slight upper hand.
Demand for composite material in automotive front-end module manufacturing is expected to increase at a rapid pace. According to the report, sales of automotive front-end module from composite materials are likely to account for more than 55% in the overall automotive front-end module market. Acceptance of composites in the automotive sector has witnessed a significant spike with the growing demand for lightweight yet durable products. Moreover, the high strength-to-weight ratio of composites coupled with enhanced corrosion resistance and operational feature have furthered their use in automotive front-end module manufacturing. Moreover, sales of automotive front-end module with composites are also influenced by the increasing demand for fuel-efficient vehicles.
OEMs are likely to remain an attractive sales channel for the automotive front-end module. ORM channel is expected to largely contribute to the growth of the automotive front-end module market during the assessment period, says the report. The aftermarket for automotive front-end module is projected to grow at a significant pace, albeit at a lower base than OEM. Stakeholders in the automotive front-end module market can expect significant opportunities by tapping the OEM channel in a bid to achieve sustenance and increased profitability.
The report covers the following Automotive Front End Module Market insights and assessments that are helpful for all participants involved in the Automotive Front End Module market:
· Data on recently introduced regulations and their impact on key industries and on-demand in Composite Automotive Front End Module
· Latest industry Analysis on Automotive Front End Module Market, with the key analysis of market drivers, trends, and influencing factors
· Key trends Analysis of Automotive Front End Module Market and changing consumer preferences in major industries.
· Changing metal Automotive Front End Module demand and consumption of diverse products
· Major trends underlining funding by key investors in numerous countries
· New investment opportunities in diverse technology and product or service types
· Comprehensive data and Competitive analysis of Automotive Front End Module major players
· Automotive Front End Module Market sales in the US will grow at a steady pace, driven by growing consumer confidence and economic recovery
· Automotive Front End Module demand forecast in Europe remains stable, as many countries such as the UK, France, and Germany focus on boosting growth
Competition in the global automotive front-end module market is expected to rise, with players focusing on gaining a competitive advantage and increasing their market foothold. Various players around the world are investing in new R&D projects, making joint ventures, and partnerships.
· In October 2020, Hyundai Mobis undertook a significant investment in Envisics, a UK-based leader in Augmented Reality Heads-Up Display (AR HUD)- a next-generation safety convenience feature that matches driving information with the road ahead in real-time
· In September 2021, Faurecia S.A acquired intellectual property assets of uMist Ltd., a Swedish startup specializing in biomimetic spray technology, to accelerate its technology leadership for commercial vehicles ultra-low emissions
Key Companies of Automotive Front End Module Industry
· Hyundai Mobis Co. Ltd.
· Faurecia S.A
· MAHLE GmbH
· Denso Corporation
· HBPO GmbH
· Murata Manufacturing Co. Ltd.
· Samvardhana Motherson Automotive Systems Group B.V
· Montaplast GmbH
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