The global automotive bumpers market is expected to increase over the forecast period driven by the technological advancement in the automotive industry. The automotive bumpers market growth is highly co-related to the auto industry. Bumpers (front/rear) are made along with an attachment brackets to protect the vehicle in low-speed collision as well as to protect pedestrians. In order to absorb energy, bumpers are made by covering a reinforcement bar, which is composed of steel, aluminum, fiberglass composite, and plastics.
The global automotive industry has been witnessing strong growth in terms of profitability and sales across the developing nations. The automotive application areas such as bumpers are foreseen to refurbish the mode of maneuvering sophisticated automotive processes. Surging emphasis on regulatory standard has been observed in Europe and North America. International safety regulations, originally devised as European standards under the support of the United Nations, have now been adopted by most countries outside North America. U.S. CAFE standards come into effect in 2016, which ensure vehicles must now average 34.1 miles per gallon.
The key drivers in the automotive industry such as changing demographic trends, stringent regulatory scenario for safety & fuel economy, and the available information are expected to offer immense opportunities to the suppliers over the next seven years. Rising consumer demand for high-end products at a low cost expected to positively impact industry dynamics in terms of production. Safety related features are increasingly being added as standard equipment in new models.
The global automotive bumpers market can be segmented by product, material design, and region. In the market, five broad types of bumpers are available to suit the distinct vehicle. The standard bumpers which can be seen on most vehicles/cars. Deep Drop/Cowboy Bumper is typically found on older trucks and is suited for heavy-duty towing. Roll Pan Bumper is found on custom compact truck.
As bumpers are used to absorb energy, the material used to produce needs to be high absorptive in nature such as plastic or composite materials or fibers. The vehicles from a few decades back used a steel & aluminum reinforcement bar along with springs or hydraulic units for protection. Modern bumpers are made of molded plastic; aluminum, and steel. Reinforcement bar made out of fiberglass is relatively low cost and easy to paint, and, flexible. Fiberglass is strong enough when added to adequate layers. Plastic being the important component, manufacture chose high performance plastic for producing bumpers. The right choice of lightweight, high performance plastic can make more fuel efficient vehicles. It is estimated that every 10% reduction in vehicle weight results in a 5%-7% reduction in fuel usage. Plastic has a tendency of minimal corrosion giving longer vehicle life, flexibility in reshaping & designing, and, recyclability.
Polypropylene (PP) is a thermoplastic polymer used widely for bumper manufacturing. 32% of the total high performance plastic required in a vehicle is PP. Acrylonitrile Butadiene Styrene (ABS) is a copolymer which provides resistance, toughness, and heat resistance for automotive body parts. Polycarbonate (PC) offers a unique combination of stiffness, hardness, and toughness. Due to the aforementioned properties, it is well suited for car bumpers and hence is used extensively across the industry.
Automotive bumpers are designed within Pro-e software along with other available similar application product. The process for designing in this category is bifurcated into design, analysis, and manufacturing. The data is then standardized in a 2D or 3D production drawing. Thereafter, the modeling of car bumper is done with the help of Pro-e software mentioned.
The European Union is anticipated to be the world’s leading producer in the auto industry, provided this industry is the key contributors to their economy & GDP. A relatively high number of skilled laborers is expected to be the key driver for Europe’s innovation and knowledge in this sector, which reflects in their largest foreign investment in R&D. The European commission is planning to further boost this industry by improving its internal market regulations. Some of the key players in the European region include Delphi Automotive, GKN, and, Valeo.
China automotive bumper industry is expected to be the fastest growing regional market. The key regional players such as Plastic Omnium, Magna International Inc., Hyundai Mobis, etc. have established partnerships with efficient retailers and distributors in order to survive in the market.
Emerging countries such as South Africa, India, and Malaysia are expected to boost the overall industry demand SA exhibited significant growth under the motor industry development programme.
Various prominent vendors are engaged in spreading awareness towards advanced materials used to manufacture the products through marketing campaigns and branding which is in turn expected to accelerate automotive bumpers market demand over the forecast period.
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The automotive & transportation industry is amongst the most exposed verticals to the ongoing COVID-19 outbreak and is currently amidst unprecedented uncertainty. COVID-19 is expected to have a significant impact on the supply chain and product demand in the automotive sector. The industry's concern has moved on from being centered on supply chain disruption from China to the overall slump in demand for automotive products. The demand for commercial vehicles is expected to plummet with the shutdown of all non-essential services. Furthermore, changes in consumer buying behavior owing to uncertainty surrounding the pandemic may have serious implications on the near future growth of the industry. Meanwhile, liquidity shortfall and cash crunch have already impacted the sales of fleet operators, which is further expected to widen over the next few months. We are continuously monitoring the COVID-19 pandemic, and assessing its impact on the growth of the automotive & transportation industry. The report will account for Covid19 as a key market contributor.