The automotive front-end module global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Automotive Front End Module Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The automotive front-end module market size has grown strongly in recent years. It will grow from $112.02 billion in 2023 to $119.56 billion in 2024 at a compound annual growth rate (CAGR) of 6.7%. The growth in the historic period can be attributed to safety regulations, vehicle design trends, increased vehicle production, urbanization, lightweighting initiatives.
The automotive front-end module market size is expected to see strong growth in the next few years. It will grow to $156.54 billion in 2028 at a compound annual growth rate (CAGR) of 7.0%. 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.
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Scope Of Automotive Front End Module Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Market Drivers –
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.
Market Trends –
Product innovations have emerged as the key trend gaining popularity in the 5G chipset market. The major players in the market are developing innovative products for market growth. For instance, in June 2021, Samsung Electronics, a South Korea-based electronics company, developed 3GPP Rel.16 compliant chipsets, a range of next-generation 5G chipsets that deliver cutting-edge 5G technologies. The new chipsets consist of a second-generation 5G modem System-on-Chip (SoC), a third-generation mmWave Radio Frequency Integrated Circuit (RFIC) chip, and a Digital Front End (DFE)-RFIC integrated chip. These are designed to increase power efficiency, boost performance, and reduce the size of 5G solutions.
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 Vehicles
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Regional Insights –
Asia-Pacific was the largest region in the automotive front-end module market in 2023. 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, Africa
Key Companies –
Major companies operating in the automotive front-end module market report are Marelli Corporation, Cie Plastic Omnium SE, Denso Corporation, Faurecia SA, HBPO GMBH, Hyundai Mobis Co. Ltd., Magna International Inc., Mahle GmbH, Valeo S. A., Compagnie Plastic Omnium SE, Samvardhana Motherson Automotive Systems Group B. V., SL Corporation, AGS Automotive Systems, Arkal Plastic Products Ltd., Inteva Products LLC, Gestamp Automoción S. A., Flex-N-Gate Corporation, Hella KGaA Hueck & Co., Continental AG, ZF Friedrichshafen AG, Thyssenkrupp AG, Tower International Inc., Martinrea International Inc., Shiloh Industries Inc., G-Tekt Corporation, F-Tech Inc., KIRCHHOFF Automotive GmbH, JTEKT Corporation, Toyoda Gosei Co. Ltd., Benteler Automotive Corporation
Table of Contents
1. Executive Summary
2. Automotive Front End Module Market characterstics
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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31. Global Automotive Front-End Module Market Competitive Benchmarking
32. Global Automotive Front-End Module Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Automotive Front-End Module Market
34. Automotive Front-End Module Market Future Outlook and Potential Analysis
35. Appendix
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