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Global Bumper Beam Market Size was valued at USD 1.3 Billion in 2022. The Bumper Beam market industry is projected to grow from USD 1.7 Billion in 2023 to USD 2.5 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 4.45% during the forecast period (2023 - 2032). Safety concerns among car owners are growing, and manufacturers are using more unique materials, are the key market drivers enhancing the market growth.
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Source: Secondary Research, Primary Research, RESEARCH LAYER Database and Analyst Review
It is projected that factors including rising customer awareness of safety issues and manufacturers' increased usage of cutting-edge materials will fuel market expansion throughout the analysed period. One of the main factors projected to speed up market progress is the increased demand for lightweight materials. These parts make cars lighter and improve fuel efficiency. Bumper beams made of aluminium, magnesium, and carbon fiber-reinforced polymer (CFRP) can significantly reduce weight while maintaining structural strength and rigidity. Consequently, as manufacturers attempt to lighten their vehicles to comply with laws and consumer demand for fuel-efficient autos, the market is predicted to grow.
The market for bumper beams is also significantly impacted by the automotive industry's increasing focus on safety and crashworthiness. A bumper beam is an essential component of a car's safety system since it lessens the impact of a crash and protects the occupants. Because of the growing desire for vehicles that are safer and more crash-proof, especially in developing nations where safety norms are still in their infancy, it is projected that the market would grow in response. Another factor propelling the market is the increasing adoption of advanced driver assistance systems (ADAS). ADAS systems like automatic emergency braking (AEB) and lane departure warning (LDW) rely on sensors and cameras placed in the bumper beam to recognise objects and other vehicles on the road. The market is anticipated to expand as automakers equip their vehicles with additional ADAS features to improve driver convenience and safety.
As the demand for electric cars (EVs) rises, bumper beam sales are predicted to increase. EVs frequently require a different form of bumper beam due to their unique crash criteria and weight distribution from conventional internal combustion engine (ICE) vehicles. Therefore, it is projected that the market will grow as manufacturers work to develop bumper beams that are optimised for EVs to meet the unique safety requirements of these vehicles.
The increasing production of cars in developing countries is a significant factor that is anticipated to speed up market expansion in the coming years. As developing countries continue to develop and their middle classes expand, it is projected that demand for automobiles will increase significantly. The need for bumper beams is expected to rise as market expansion quickens and automakers expand their capacity in these regions to satisfy rising demand. The global automotive industry's sales and profitability have dramatically expanded in developing nations. Automobile application domains like bumpers are expected to modernise the way intricate automotive processes are carried out. Increasing attention has been paid to regulatory requirements in both North America and Europe. International safety standards, which were initially designed as European norms with assistance from the UN, are now followed by the majority of countries outside of North America. Due to U.S. CAFE regulations, cars must now average 34.1 miles per gallon as of 2016. Thus, driving the Bumper Beam market revenue.
The global Bumper Beam market segmentation, based on application, includes passenger cars and commercial vehicles. Passenger cars segment dominated the global Bumper Beam market in 2022. Increased passenger car production in developing nations like China, India, and Brazil has aided in the expansion due to the growing middle class, which can afford to pay higher vehicle prices. Commercial vehicles are expected to expand rapidly over the projection period as a result of rising demand from the construction sectors in many various regions, including North America and Europe. Government regulations that are stringent on the safety requirements for commercial vehicles would further boost demand for the product.
The global Bumper Beam market segmentation, based on Type, includes steel reinforcing beams, plastic reinforcing beam, aluminum reinforcing beam, and others. Steel reinforcing beam segment accounted for the largest revenue share in 2022. Steel reinforcing beams are used in the automotive industry to provide a component extra durability and strength. They are frequently utilised in automobile bumpers due to their ability to bear pressure and huge loads without breaking. The rise of the automobile industry worldwide, particularly in developing nations like India, China, Brazil, and South Africa, is the main factor driving this market.
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Source: Secondary Research, Primary Research, RESEARCH LAYER Database and Analyst Review
By region, Insights into the markets in North America, Europe, Asia-Pacific, and the rest of the world are provided by the study. The North America Bumper Beam Market dominated this market in 2022 (45.80%). A number of well-known vendors are encouraging the use of cutting-edge materials in product manufacture through marketing campaigns and branding, which is anticipated to boost demand for bumper beams throughout the course of the forecast period. Further, In the North American area, the U.S. Bumper Beam market had the biggest market share, while the Canada Bumper Beam market had the quickest rate of expansion.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
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Source: Secondary Research, Primary Research, RESEARCH LAYER Database and Analyst Review
Europe Bumper Beam market accounted for the healthy market share in 2022. As indicated by their largest foreign investment in R&D, a relatively high number of qualified people are expected to be the primary driving factor behind Europe's innovation and knowledge in this industry. To further help this industry, the European Commission plans to toughen internal market regulations. Valeo, GKN, and Delphi Automotive are some of the significant businesses operating in Europe. In the European region, the German Bumper Beam market had the biggest market share, and the U.K. Bumper Beam market had the quickest rate of growth.
The Asia Pacific Bumper Beam market is expected to register significant growth from 2023 to 2032. The biggest regional rivals, such as Plastic Omnium, Magna International Inc., Hyundai Mobis, and others, have partnered with successful merchants and distributors in order to stay competitive in the market. Moreover, In the Asia-Pacific region, the Indian Bumper Beam market had the quickest rate of growth while China's Bumper Beam market had the greatest market share.
Leading industry companies are making significant R&D investments in order to diversify their product offerings, which will drive the Bumper Beam market's expansion. Important market developments include new product releases, contractual agreements, mergers and acquisitions, greater investments, and collaboration with other organizations. Market participants are also engaging in a number of strategic actions to increase their global footprint. The Bumper Beam sector needs to provide affordable products if it wants to grow and thrive in a more competitive and challenging market environment.
One of the primary business strategies employed by manufacturers in the worldwide Aerospace Foam industry to assist customers and expand the market sector is local manufacturing to reduce operational costs. Some of the biggest benefits to medicine have recently come from the Bumper Beam sector. Major players in the Bumper Beam market, including Thyssenkrupp, Magna International, Benteler Deutschland, Plastic Omnium, HUTCHINSON, CIE Automotive, Futaba Industrial, Sungwoo Hitech, UNIPRES Aisin Takaoka, Tower International, Lingyun Industrial, Minth Group, Yachiyo Industry, Shanghai Jiaoyun Group, Tata AutoComp Systems, and LEAD, are attempting to increase market demand by investing in research and development operations.
Novotek AB offers industrial-IT and automation systems based on items and components that are industry standard. The company's goods are used by the energy, food, pharmaceutical, petrochemical, metal, manufacturing, paper and mass, infrastructure, water and drainage, and building automation sectors. Its package includes features like process optimisation, energy tracking, production planning, version control, Kepware OPC communication platform, cyber security for production and process networks, and other features. In April 2022, Novitec unveiled a carbon fibre body package for the Ferrari 458 Speciale. The body kits include a front spoiler lip, flaps for the front air guide, a front spoiler side panel (set) with double-fins, a cover for taillights, and others.
Brabus GmbH, a German expert in high-performance automobile aftermarket tuning, was founded in Bottrop (Ruhr area) in 1977. Brabus has since 2022 tuned two other makes of vehicles in addition to Mercedes-Benz, Maybach, and Smart. Brabus' primary objective is to increase speed and horsepower in order to maximise vehicle performance. Customers can send in their own automobiles for customisation and/or overhaul or choose to buy cars from Brabus. When a customer places an order for a car, Brabus directly purchases a certain Mercedes model and changes it to the buyer's preferences. Brabus is well known for its extortionate tuning costs. Aesthetic improvements from Brabus include body kits, carbon fibre splitters, and multi-piece alloy wheels. Twelve-piston disc brakes, open racing exhaust systems, racing LSDs, and engine remapping are additional enhancements. Customers can also have brand-new AMG crate engines entirely overhauled for them or customised for them. In September 2022, Brabus produced a second super truck that was based on the Mercedes-Benz AMG G63 SUV. The wheelbase of the P 900 Rocket Edition is 19.7 inches longer and it has a pickup truck in the back. The bodywork of the vehicle receives new bumpers, a transparent bonnet, a significant carbon fibre body kit, and accents made of rocket-red aluminium.
· Thyssenkrupp
· Magna International
· Benteler Deutschland
· Plastic Omnium
· HUTCHINSON
· CIE Automotive
· Futaba Industrial
· Sungwoo Hitech
· UNIPRES
· Aisin Takaoka
· Tower International
· Lingyun Industrial
· Minth Group
· Yachiyo Industry
· Shanghai Jiaoyun Group
· Tata AutoComp Systems
· LEAD
March 2022: For the Bentley New Flying Spur, Mansory revealed a bumper kit that incorporates a diffuser made of Mansory carbon. The automobile has a more distinctive appearance because to the Mansory front bumper, which replaces the standard bumper.
September 2022: Novitec introduced an upgrade package for the Maserati MC20 that included a covert carbon fibre aero kit, fins added to the front splitter and a rear ducktail spoiler, and carbon fibre inserts added to the bonnet and side intakes.
· Steel Reinforcing Beams
· Plastic Reinforcing Beam
· Aluminum Reinforcing Beam
· Others
· Passenger Cars
· Commercial Vehicles
· North America
- US
- Canada
· Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
· Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Australia
- Rest of Asia-Pacific
· Rest of the World
- Middle East
- Africa
- Latin America
Report Scope
|
Report Attribute/Metric |
Details |
|
Market Size 2022 |
USD 1.3 Billion |
|
Market Size 2023 |
USD 1.7 Billion |
|
Market Size 2032 |
USD 2.5 Billion |
|
Compound Annual Growth Rate (CAGR) |
4.20% (2023-2032) |
|
Base Year |
2022 |
|
Market Forecast Period |
2023-2032 |
|
Historical Data |
2018- 2022 |
|
Market Forecast Units |
Value (USD Billion) |
|
Report Coverage |
Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
|
Segments Covered |
Type, Application, and Region |
|
Geographies Covered |
North America, Europe, Asia Pacific, and the Rest of the World |
|
Countries Covered |
The U.S., Canada, German, France, U.K, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
|
Key Companies Profiled |
Thyssenkrupp, Magna International, Benteler Deutschland, Plastic Omnium, HUTCHINSON, CIE Automotive, Futaba Industrial, Sungwoo Hitech, UNIPRES Aisin Takaoka, Tower International, Lingyun Industrial, Minth Group, Yachiyo Industry, Shanghai Jiaoyun Group, Tata AutoComp Systems, and LEAD |
|
Key Market Opportunities |
Recent technological developments |
|
Key Market Dynamics |
The rising awareness for safety among vehicle owners, as well as increasing usage of innovative, and new materials by manufacturers |
The global Bumper Beam market size was valued at USD 1.5 Billion in 2022
The global market is projected to grow at a CAGR of 4.20% during the forecast period, 2023-2032.
North America had the largest share in the global market
The key players in the market are Thyssenkrupp, Magna International, Benteler Deutschland, Plastic Omnium, HUTCHINSON, CIE Automotive, Futaba Industrial, Sungwoo Hitech, UNIPRES Aisin Takaoka, Tower International, Lingyun Industrial, Minth Group, Yachiyo Industry, Shanghai Jiaoyun Group, Tata AutoComp Systems, and LEAD
The Steel Reinforcing Beams Type dominated the market in 2022.
The Passenger Cars Application had the largest share in the global market.
Report Code :
RL65143
Published on :
Sep 2023
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