Major players in the automotive front-end module market are Calsonic Kansei Corporation, Compagnie Plastic Omnium SA, Denso Corporation, Faurecia SA, HBPO GMBH, Hyundai Mobis Co Ltd, Magna International Inc, Mahle GmbH, ValeoS.
New York, Dec. 08, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Automotive Front-End Module Global Market Report 2022: Ukraine-Russia War Impact" - https://www.reportlinker.com/p06371413/?utm_source=GNW
A., Plastic Omnium, Samvardhana Motherson Automotive Systems Group B.V., SL Corporation, AGS Automotive Systems, Arkal Automotive, Inteva Products, and Gestamp Automoción S.A.
The global automotive front-end module market is expected to grow from $ 94.36 billion in 2021 to $ 103.47 billion in 2022 at a compound annual growth rate (CAGR) of 9.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The automotive front-end module market is expected to reach $ 131.23 billion in 2026 at a CAGR of 6.1%.
The automotive front-end module market consists of sales of automotive front-end module products by entities (organizations, sole proprietors, and partnerships) that refer to multipiece assemblies that integrate a large number of components on the front side of vehicles.This module’s primary purpose is to support and provide safety in the event of an accident.
It also includes functional features such as air cooling, heating, lighting, exterior styling, and aesthetics. They are prebuilt automotive front-end components that help shorten the assembly line time and allow more vehicles to be built in a given period.
The main types of components in automotive front-end modules are headlights, front grill, radiator, condenser, horn assembly, oil cooler, and others.Headlights are used in the automotive front end to illuminate the road ahead.
It refers to a large, powerful light at the front of the vehicle, usually one or two. The materials used are steel, composite, plastic, and others that are suitable for passenger cars, light commercial vehicles, and heavy commercial vehicles.
Asia-Pacific was the largest region in the automotive front-end module market in 2021.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the automotive front-end module market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Increasing 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.
Technological 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.
In April 2022, Plastic Omnium, a European-based automobile components manufacturer, acquired Varroc Lighting Systems for $ 609 million.The acquisition of Varroc Lighting Systems will add to Plastic Omnium’s impressive track record of successful strategic acquisitions.
This also creates substantial long-term value for their stakeholders. Varroc Lighting Systems is a US-based manufacturer of front-end automotive components such as headlights, electronics, and signal lights.
The countries covered in the automotive front-end module market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The automotive front-end module market research report is one of a series of new reports that provides automotive front-end module market statistics, including automotive front-end module industry global market size, regional shares, competitors with an automotive front-end module market share, detailed automotive front-end module market segments, market trends and opportunities, and any further data you may need to thrive in the automotive front-end module industry. This automotive front-end module market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Read the full report: https://www.reportlinker.com/p06371413/?utm_source=GNW
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
CONTACT: Clare: firstname.lastname@example.org US: (339)-368-6001 Intl: +1 339-368-6001