Categories: Market Research

Automotive Front-End Module Market Forecast 2024-2033: Projected CAGR, Key Drivers, And Trends

Overview and Scope
The automotive front-end module refers 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.

Sizing and Forecast
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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Segmentation & Regional Insights
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

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

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Major Driver Impacting Market Growth
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.

Key Industry Players
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

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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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