Global Automotive Fascia Market Growth Analysis 2024 – Forecast Market Size And Key Factors Driving Growth

Overview and Scope

An automotive fascia refers to the part surrounding the instruments and dials in a vehicle. It is a decorative dashboard panel or a decorative dashboard assembly.

Sizing and Forecast

The automotive fascia market size has grown strongly in recent years. It will grow from $19.95 billion in 2023 to $21.27 billion in 2024 at a compound annual growth rate (CAGR) of 6.6%. The growth in the historic period can be attributed to aesthetic design trends, government initiatives , integration of advanced lighting systems, customization and brand differentiation, environmental concerns and lightweighting.

The automotive fascia market size is expected to see strong growth in the next few years. It will grow to $27.39 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%. The growth in the forecast period can be attributed to electrification and autonomous driving, sustainable material solutions, smart connectivity features, global expansion of automotive production, urbanization and traffic safety concerns. Major trends in the forecast period include integration of advanced lighting technologies, customization and aesthetic design, materials innovation for weight reduction, sustainable and recyclable materials, incorporation of smart technologies, adoption of advanced manufacturing techniques.

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Segmentation & Regional Insights

The automotive fascia market covered in this report is segmented –

1) By Type: Front Fascia, Rear Fascia, Commercial Vehicles, Passenger Cars
2) By Material: Steel And Aluminium, Rubber, Plastic Covered Styrofoam, Plastic Covered Aluminium, Other Materials
3) By End-User: Aftermarket, Original Equipment Manufacturer (OEM)

Asia-Pacific was the largest region in the automotive fascia market in 2023. The regions covered in the automotive fascia 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 increasing sales of vehicles are expected to propel the growth of the automotive fascia market going forward. A vehicle refers to an automobile with an engine that transports individuals or objects between locations. Automotive fascia is situated at the front and rear of a vehicle. It plays a crucial role in the design of the vehicle’s aerodynamics while also adding a beautiful finishing touch to the exterior. For instance, in March 2022, according to a report published by the European Automobile Manufacturers’ Association (ACEA), the main lobbying and standards group for the automobile industry in the European Union, sales of passenger cars in the US increased by 5.5% from 2020 to 11.9 million units in 2021. In 2021, about 6.3 million passenger automobiles were produced in US auto plants, a 3.1% increase over 2020. In 2021, Chinese automakers manufactured 20.7 million automobiles, a 7.1% increase. The total number of cars produced worldwide increased by 2.7% to 63.2 million in 2021. Therefore, the increasing sales of vehicles are driving the growth of the automotive fascia market.

Key Industry Players

Major companies in the automotive fascia market are focused on applications of non-metal materials, such as Acrylonitrile Butadiene Styrene (ABS), polycarbonate, polypropylene, and rubber, among others, as well as metal compounds, such as aluminum and steel, in the manufacturing processes. Any material, natural or synthetic, devoid of metal is considered a non-metallic material and has distinct chemical characteristics. For example, in December 2021, TotalEnergies SE, a France-based integrated energy and petroleum company, announced a strategic partnership with Plastic Omnium, a France-based automotive exterior parts and systems manufacturing company, to deliver complete bumper solutions to design and develop new plastic materials made from recycled polypropylene that adhere to the strict safety and aesthetic standards required by the automotive sector.

The automotive fascia market report table of contents includes:

1. Executive Summary

2. Automotive Fascia Market Characteristics

3. Automotive Fascia Market Trends And Strategies

4. Automotive Fascia Market – Macro Economic Scenario

5. Global Automotive Fascia Market Size and Growth
…

31. Global Automotive Fascia Market Competitive Benchmarking

32. Global Automotive Fascia Market Competitive Dashboard

33. Key Mergers And Acquisitions In The Automotive Fascia Market

34. Automotive Fascia Market Future Outlook and Potential Analysis

 

35. Appendix

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