According to The Business Research Company’s Automotive Front-End Module, The automotive front-end module market size has grown strongly in recent years. It will grow from <b>$112.02 billion in 2023 to $119.56 billion in 2024 at a compound annual growth rate (CAGR) of 6.7%. </b> The growth in the historic period can be attributed to safety regulations, vehicle design trends, increased vehicle production, urbanization, lightweighting initiatives.
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The automotive front-end module market size is expected to see strong growth in the next few years. It will grow to <b>$156.54 billion in 2028 at a compound annual growth rate (CAGR) of 7.0%. </b> The growth in the forecast period can be attributed to electrification of vehicles, advanced driver assistance systems (adas, stricter emission standards, connectivity features, modular and scalable designs, sustainability initiatives. Major trends in the forecast period include active grille shutter integration, multi-material construction, integrated lighting systems, sensor integration for pedestrian safety, autonomous vehicle-specific designs, design collaboration with oems.The increase in vehicle production is expected to drive the growth of the automotive front-end module market going forward. The growing economy and rising standard of living have changed the purchasing power. While the economic effects of COVID-19 have disrupted the way people live and move around the world, a new way of living is expected to emerge. With social distancing being the best line of defense against COVID-19, there is a sudden increased demand for personal mobility worldwide. Such a surge in demand for vehicle production leads to increasing production and demand for front-end modules. For instance, in April 2022, according to a report published by the European Automobile Manufacturers Association, in 2021, 79.1 million motor vehicles were produced worldwide, a 1.3% increase over 2020. Additionally, according to the Global EV Outlook 2021, consumers spent 120 billion USD on electric vehicle purchases in 2020, a 50% increase over 2019. Therefore, the increasing sales have increased the production of the vehicle, which in turn will drive the automotive front-end module market.
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The automotive front-end module market covered in this report is segmented –
1) By Component: Headlight, Front Grill, Radiator, Condenser, Horn Assembly, Oil Cooler, Other Components
2) By Material: Steel, Composite, Plastic, Other Materials
3) By Vehicle Type: Passenger Cars, Light Commerical Vehicles, Heavy Commercial VehiclesTechnological advancements are a key trend gaining popularity in the automotive front-end module market. Major companies operating in the automotive front-end module sector are implementing next-generation automotive front-end technologies into their products, such as advanced head lighting systems, advanced automotive HUD, brake assistance, panel technology, intelligent sensors, and others, making automotive applications reliable, compact, safer, and lower cost. For instance, in April 2021, Samsung, a Japan-based electronics corporation company, introduced PixCell LED, an intelligent headlight system that enhances road safety with adaptive driving beam (ADB) systems. This ADB system improves driver visibility and security, which enhances the overall driving experience at night and in poor weather conditions such as fog or heavy rain.The automotive front-end module market report table of contents includes:
1. Executive Summary
2. Automotive Front-End Module Market Characteristics
3. Automotive Front-End Module Market Trends And Strategies
4. Automotive Front-End Module Market – Macro Economic Scenario
5. Global Automotive Front-End Module Market Size and Growth
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26. South America Automotive Front-End Module Market
27. Brazil Automotive Front-End Module Market
28. Middle East Automotive Front-End Module Market
29. Africa Automotive Front-End Module Market
30. Automotive Front-End Module Market Competitive Landscape And Company Profiles
Top Major Players:
- Marelli Corporation
- Cie Plastic Omnium SE
- Denso Corporation
- Faurecia SA
- HBPO GMBH
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