PUBLISHER: The Business Research Company | PRODUCT CODE: 1274745
PUBLISHER: The Business Research Company | PRODUCT CODE: 1274745
“Automotive Fascia Global Market Report 2023 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on automotive fascia market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for automotive fascia? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The automotive fascia market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Major players in the automotive fascia market are Dongfeng Electronic Technology Co. Ltd., MRC Manufacturing, Eaksa Corporation, Flex N Gate Corporation, Magna International Inc., Sanko Gosei Technologies, Plastic Omnium, Gestamp Automation SA, Chiyoda Manufacturing, Inhance Technologies, Aisin Light Metals LLC, Mobis Georgia LLC, Dakkota Integrated System LLC, Venta Lonia LLC, Revere Plastics System LLC, Guardian Industries, and Hyundai Mobis Co.
The global automotive fascia market is expected to grow from $18.82 billion in 2022 to $20.15 billion in 2023 at a compound annual growth rate (CAGR) of 7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The automotive fascia market is expected to reach $25.42 billion in 2027 at a CAGR of 6%.
The automotive fascia market consits of sales of bumpers, grilles, exterior trim and subsystem components. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
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.
Asia-Pacific was the largest region in the automotive fascia market in 2022. The regions covered in automotive fascia report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main tpyes of automotive fascia are front fascia, rear fascia, commercial vehicles, and passenger cars. The front fascia refers to typically softer materials like high-density polyethylene, fiberglass, rubber, and even faux or real leather, which are designed to enclose the bumper itself. The materials used are steel and aluminum, rubber, plastic-covered styrofoam, plastic-covered aluminum, and others, that are used aftermarket and by original equipment manufacturer (OEM).
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.
Technological advancements are a key trend gaining popularity in the automotive fascia market. Companies operating in the automotive fascia market are adopting new technologies to sustain their position in the market. For instance, in June 2021, Hyundai Mobis, a South Korea-based automaker corporation and car parts company, unveiled the new 'lighting and moving' grille technology. The front grille of the car now has an LED lighting function, and the moving grill has a new 'grille integrated active pair flap' technology. This technique automatically adjusts the airflow entering the engine bay. In addition to communicating with other vehicles, the lighting grille can provide powerful and distinct design effects. The'moving grille' technology, on the other hand, regulates the outside air to cool the powertrain because the grille moves and serves as illumination.This new grille has internal air flaps built into it that sense variations in coolant temperature and restrict the entry of outside air by lowering the flaps if cooling is not required.
In October 2021, MiddleGround Capital, a US-based private equity firm, acquired Plasman Holdings for an undisclosed amount. This acquisition is expected to help the companies grow with their customers and expand into new geographies and product markets. Plasman Holdings is a Canada-based manufacturer of automotive products, including bumpers or fascias, grilles, and exterior trim for light vehicles.
The countries covered in the automotive fascia market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The automotive fascia market research report is one of a series of new reports from The Business Research Company that provides automotive fascia market statistics, including automotive fascia industry global market size, regional shares, competitors with a automotive fascia market share, detailed automotive fascia market segments, market trends and opportunities, and any further data you may need to thrive in the automotive fascia industry. This automotive fascia market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.