Major auto companies across the globe are working on the shape of automotive plastic bumpers. In terms of safety, the automakers are constantly improving the quality of the bumpers by integrating plastic bumpers that increase the strength, rigidity, and structural properties of car bumpers., The front and rear bumpers from Hyundai Motor use plastic as a raw material which has resulted in better protection quality of bumper, after 20 years of research. Therefore, the bumper has become an essential part of automotive exterior decoration, leading to increase in demand for auto sector in both new and aftermarket vehicles Therefore, the global car bumper market is expected to grow at a formidable rate.
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Key Market Players
- Toyota Boshoku Corporation
- Plastic Omnium
- Magna International, Inc
- (NTF) India Private.Ltd
- Faurecia SA
- Flex-N-Gate Corporation
- Hyundai Mobis Co. Ltd
- SMP Deutschland GmbH
- Futaba Industrial Co. Ltd
- Toyoda Gosei Co. Ltd
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COVID-19 Impact Analysis
The COVID-19 pandemic has spread across the globe, affecting every aspect of society, including the automobile industry. The automobile components and accessory manufacturing plants have stopped the production, including automotive bumpers. The auto sector also faced significant employment losses as a result of interruptions in demand and supply chain, resulting in a decrease in revenue generation. The sudden decline in the industry has presented a challenge for the automotive manufacturers to plan for recovery following the lockdown. Although the entire auto industry is facing significant challenges, the right action plan at a specific time assists to invalidate the economic slowdown of the automobile bumper market.
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Top Impacting Factors
- Increase in demand for lightweight bumpers, use of thermoplastic olefins to absorb crash, technological developments & safety ratings, demand for high end quality products at a very low-cost creative designs & robust build quality, and improvement in aerodynamics tailgate drive the market.
- However, lack of awareness about the use of different materials , and fluctuating prices of raw materials hinder the growth of the bumper market
- On the contrary, recycling of automotive plastic bumper, rise in scenarios for safety & fuel economy, and increase in demand for transportation with respect to trading activities provide growth opportunities in the automotive bumper market.
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Key Benefits of the Report:
- This study presents the analytical depiction of the automotive bumper market along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with challenges of the automotive bumper market.
- The current market is quantitatively analyzed from 2020 to 2030 to highlight the growth scenario of the automotive bumper market.
- The report provides a detailed automotive bumper market analysis based on competitive intensity and the competition that will take shape in coming years.
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