Automotive Front End Module Market to Expand at a CAGR of 4.8% during Forecast Period: as per TMR Study

Rising interest in electric vehicles as well as growing attention toward vehicle safety and effectiveness is expected to drive market development

Wilmington, Delaware, United States, May 09, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global automotive front end module market size was worth US$ 123.4 Bn in 2022 and is expected to be valued at US$ 188.6 Bn by 2031. The global market is likely to develop at a CAGR of 4.8% between 2023 and 2031. Market demand for automotive front end module is fueled by expansion of the automotive sector, rising demand for passenger and commercial vehicle sales, and rising need for lightweight components in present-day vehicles. Additionally, rise in demand for electric vehicles and increase in focus on vehicle safety are estimated to boost the global industry in the coming years.

Manufacturers of automotive front end module are spending more on R&D to further develop their market share. Rise in the use of efficient raw materials and the technological development of automotive components are two major reasons driving industry growth. However, increase in the sale of counterfeit front end modules is likely to hinder market expansion in the coming years.

Increase in demand for FEM (front end module) modularization and rise in outsourcing of FEMs by OEMs to save time and money are major factors driving business growth. Rise in governmental mandates and regulations pertaining to fuel emissions and economy is anticipated to drive business opportunities in the global automotive front end module market.

For Insights on Global, Regional, and Country-Level Parameters with Growth Opportunities by 2031 - Download a Sample Report!

Market Snapshot:

Report Coverage

Details

Market Revenue

US$ 123.4 Bn

Estimated Value

US$ 188.6 Bn

Growth Rate - CAGR

4.8%

Forecast Period

2023-2031

No. of Pages

240 Pages

Market Segmentation

Type, Material, Vehicle Type, Sales Channel

Regions Covered

North America, Europe, Asia Pacific, Middle East & Africa, South America

Companies Covered

Magna International, MAHLE GmbH, Murata Manufacturing Co., Ltd, Faurecia SA, Denso Corporation, Calsonic Kansei Corporation, HBPO Group, Plastic Omnium, Hyundai Mobis, Samvardhana Motherson Group, Valeo, Flex-N-Gate Corporation, RTP Company, SL Corporation

Key Findings of Market Report

The global market is anticipated to be driven by increase in sales of passenger vehicles globally. Globally, increase in demand for SUVs is expected to propel the passenger vehicle segment of the auto industry. Additionally, the growth of the passenger vehicle industry is attributed to an increase in consumer purchasing power across the globe.

Global Automotive Front End Module Market: Growth Drivers

Lightweight composites are increasingly being utilized as structural carriers for FEMs, instead of iron and steel, owing to greater focus on lowering vehicle weight. The automobile industry has been witnessing an increase in demand for lightweight materials for the last decade. Consumer interest in automobile safety features is growing.

Modularization helps OEMs save between 20% and 30% in expenses as compared to traditional front end solutions. Models may be distinguished from one another by using a variety of factors, including finish, color, and material. Furthermore, FEMs can be included later in the assembly process by reducing the time required for building vehicle components, thereby helping manufacturers improve assembly line ergonomics.

Buy this Premium Research Report | Immediate Delivery Available - https://www.transparencymarketresearch.com/checkout.php?rep_id=9347&ltype=S

Global Automotive Front End Module Market: Regional Landscape

Asia Pacific is anticipated to dominate the global market between 2023 and 2031. This is due to the rapid expansion of the industrial sector and booming automobile industry in the region. Additionally, rise in\ production of electric cars is contributing to the expansion of the automobile front end module market in the region. In China and India, demand for FEMs has increase significantly. Additionally, rise in market demand for safety features in vehicles and disposable income levels is likely to drive the market in Asia Pacific.

Global Automotive Front End Module Market: Key Players

Some of the key players in the global automotive front end module market are as follows

Murata Manufacturing Co., Ltd

Samvardhana Motherson Group

Calsonic Kansei Corporation

Magna International

Flex-N-Gate Corporation

Denso Corporation

Get Customization on this Report for Specific Research Solutions: https://www.transparencymarketresearch.com/sample/sample.php?flag=CR&rep_id=9347

Global Automotive Front End Module Market: Segmentation

Type

Forward Lighting

Radiator and Cooling Fan

Condenser

Grill Opening Panel

Bumper

Fender

Horn Assembly

Others

Material

Steel Pelletized Long Fiber Polypropylene

Plastic

Glass Mat Thermoplastic (GMT)

Others

Vehicle Type

Passenger Vehicle

Commercial Vehicle

Sales Channel

OEM

Aftermarket

Regions

North America

Europe

Asia Pacific

Middle East & Africa

Latin America

About Transparency Market Research

Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyses information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

Contact:

Nikhil SawlaniTransparency Market Research Inc.CORPORATE HEADQUARTER DOWNTOWN,1000 N. West Street,Suite 1200, Wilmington, Delaware 19801 USATel: +1-518-618-1030USA – Canada Toll Free: 866-552-3453Website: https://www.transparencymarketresearch.comBlog: https://tmrblog.comEmail: [email protected]