Automotive Fascia Market Expands as Vehicle Customization Becomes the Latest Trend 2032
Research Reports
Sep 05, 2023
Market Overview
Market Research Future (MRFR)’s report highlights Automotive Fascia Market Information By Type, Material, Vehicle Type, Sales Channel, and Region – Forecast till 2032″; The automotive fascia market can anticipate a surge from USD 20.19 billion in 2023 to USD 30.3 billion by 2032, at 5.20% rate over the appraisal period (2023-2032).
Summary
A decorative plastic panel known as an automotive fascia is positioned on top of the bumper at the front and back of the car. A bumper is a piece of equipment that is integrated into or attached to the front and back ends of a car in order to lessen damage from small collisions. Therefore, original equipment manufacturers (OEM) frequently design the fascia to cover the bumper and give the car a uniform appearance. It also has areas for bumpers, grilles, headlights, and car emblems.
Additionally, OEM prefers employing lightweight materials when constructing the fascia in order to lower the weight of the car. Additionally, the fascia is composed of lightweight plastic because it is predicted that a 10% reduction in vehicle weight will result in a nearly 7% reduction in fuel consumption.
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Market Competitive Landscape:
- Chiyoda Manufacturing
- FLEX-N-GATE CORPORATION
- Plastic Omnium
- Inhance Technologies
- Magna International Inc.
- MRC Manufacturing
- Dongfeng Electronic Technology Co. Ltd.
- SANKO GOSEI
- Eakas Corporation
- Gestamp Automoción S.A.
Market Drivers:
Worldwide, the automotive industry’s major goal has shifted to lightweight components. In an effort to reduce the overall weight of vehicles, original equipment manufacturers (OEMs) have started to swap out elements that were formerly composed of heavy materials with lighter ones. Lightweighting is the term for this idea. Engineers from all sectors have been compelled to develop creative assembly techniques and find cost-effective replacement materials as a result of the need for new materials to make components lighter.
The large amount of carbon dioxide in the air caused by fuel emissions from moving automobiles contributes to growing CO2 levels and global warming. In order to reduce the amount of CO2 in America and Europe, the automotive industry is investing heavily in the creation of lightweight components. The amounts of CO2 from vehicle emissions are subject to strict government limits.
As an illustration, Euro 6 mandates that automobiles’ CO2 emissions should not exceed 95g/km. As a result, it would spur automobile makers to design more lightweight vehicle components, significantly boosting the market’s growth. One of the main components of the lightning plan, principally offered by various vehicle manufacturers, is the decrease of the overall weight of vehicles in order to improve fuel efficiency and meet government pollution laws. These tactics should accelerate market expansion.
The automobile sector, which spans a number of adjacent sectors, is the foundation of the global economy and the main engine of stability, macroeconomic growth, and technical advancement in both developing and developed nations. The auto sector is extremely important for developing nations like Brazil and India. Due to rising incomes and higher expenditure on automobiles, the sales of vehicles are rising in various nations. To give one example, the Society of Indian Automobile Manufacturers (SIAM) estimates that 3.3 million passenger automobiles were sold in 2019. The revenue from car bumper fascias is projected to increase significantly as vehicle sales rise.
Restraints
When a vehicle crashes, there is significant vehicle damage, which results in high repair expenditures. Modern automobiles are lighter, safer, and provide better gas mileage. However, body repairs are now more expensive due to modern manufacturing techniques and vehicle designs. Due to the majority of the fascia’s construction being made of plastic, replacing a car bumper fascia can be expensive. The bumper fascia needs to be replaced because it appears to have cracks in it. Therefore, changing this part of a car could push up running expenses even further, which can slow market expansion during the study period.
Market Segmentation
The Automotive Fascia Market, as per material, covers rubber, plastic-covered polystyrene, plastic-covered aluminum, steel & aluminum, and others.
The vehicle types listed in the study are passenger cars as well as commercial vehicles.
The sales channels discussed in the study are aftermarket along with OEM.
Browse In-depth Market Research Report (128 Pages) on Automotive Fascia :
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Regional Insights
In 2022, North America (45.80%) took the lead in the market. North America has strict safety regulations in place, such as those governing pedestrian protection. Therefore, there is a great need for contemporary fascia designs that feature components like impact-absorbing materials and pedestrian-friendly structures.
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