Front-end Module Market: Introduction
According to the report, the global front-end module market is projected to surpass US$ 100 Bn by 2030, expanding at a CAGR of ~4% during the forecast period. The global front-end module market is estimated to shrink during 2020 due to COVID-19 and expand at a steady pace post 2021. Asia Pacific, Europe, and North America, accounted for a combined share of 96% of the global front-end module market in 2019.
Expansion of Front-end Module Market
Minimal down payments and attractive EMI offers have made vehicles increasingly affordable. This has fueled the demand for vehicles, leading to increase in their production, thus boosting the front-end module market. Lower labor rates and manufacturing cost in developing countries coupled with growing domestic demand are boosting the front-end module market. The automotive industry in Mexico, Brazil, and India is witnessing rapid expansion, which is projected to drive the global front-end module market. A comprehensive auto-insurance, which covers own vehicle damage in addition to third-party liability, is gaining momentum globally. Accidental cover of own damage is boosting the replacement demand for front-end modules. Increasing replacement demand due to consumer awareness, growing affordability, and own damage cover due to comprehensive insurance policy are estimated to drive the front-end module market globally.
Based on component, in terms of volume, forward lighting, radiator & cooling fan, bumpers, and fenders segments held key share of the global front-end module market. However, in terms of revenue, the radiator & cooling fan segment accounted for a notable market share, owing to the higher price of the single/dual cooling fan and radiator. The active grille shutter segment held a negligible share of the global front-end module market in 2019; however, it is projected to expand at a high growth rate during the forecast period, owing to rise in demand for fuel-efficient vehicles.
In terms of vehicle type, the passenger vehicle segment held a dominant share of the global front-end module market. Passenger vehicles contribute to higher production volume compared to commercial vehicles across all regions. Under the passenger vehicle segment, utility vehicles such as SUVs /MPVs are witnessing high consumer demand worldwide and contribute to demand for front-end modules.
Regional Analysis of Front-end Module Market
In terms of region, the global front-end module market has been segregated into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Asia Pacific held a major share of the global front-end module market with China majorly contributing to the demand. The market in Asia Pacific is estimated to expand further, with India and ASEAN contributing to the demand. Asia Pacific is followed by Europe and North America, in terms of revenue, of the global front-end module market.
Major Front-end Module Market Players
Prominent players operating in the global front-end module market include Magna International Inc., MAHLE GmbH, Faurecia SA, DENSO Corporation, Calsonic Kansei Corporation, HBPO Group, Plastic Omnium, Hyundai Mobis, Samvardhana Motherson Group, Valeo, Flex-N-Gate Corporation, RTP Company, and SL Corporation.
Global Front-end Module Market: Segmentation
- Front-end Module Market, by Component
- Forward Lighting
- Radiator & Cooling Fan
- Grille Panel/Reinforcement
- Bumper Cover
- Horn Assembly
- Others (Active Grille Shutter)
- Front-end Module Market, by Material
- Pelletized Long Fiber PP
- Glass-Mat Thermoplastic (GMT)
- Front-end Module Market, by Vehicle Type
- Passenger Vehicle
- Utility Vehicle
- Commercial Vehicle
- Light Commercial Vehicle
- Heavy Commercial Vehicle
- Passenger Vehicle
- Front-end Module Market, by Sales Channel
- Front-end Module Market, by Region
- North America
- Latin America
- Asia Pacific
- Middle East & Africa
Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants, use proprietary data sources and various tools and techniques to gather, and analyze 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.
Transparency Market Research
90 Sate Street, Suite 700
Albany, NY 12207
USA - Canada Toll Free: 866-552-3453
7 of 10 large enterprizes view our ToC to take the right decision.View Report ToC