PUNE, India, November 30, 2015 /PRNewswire/ --
The report, "Automotive Front End Module
Market by Component (Radiator, Condenser, Core Support,
Headlight, Front Grill, Bumpers, Fenders, Crash Management System,
and Others), Vehicle Type, Region, Material and by
Aftermarket - Global Forecast to 2020", The
global Automotive Front-End Module (Fem) Market is estimated
to be USD 89.75 Billion in 2015, and
is projected to reach USD 119.08
Billion by 2020, growing at a CAGR of 5.82%.
Browse 136 market data Tables and 62 Figures spread through
217 Pages and in-depth TOC on "Automotive
Front End Module Market"
http://www.marketsandmarkets.com/Market-Reports/automotive-front-end-module-market-255909749.html
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report.
The market report classifies and defines the Automotive FEM
Market, in terms of value and volume. The report highlights
potential growth opportunities in the coming years, and reviews the
drivers, restraints, growth indicators, challenges, market
dynamics, competitive landscape, and other key aspects with respect
to the FEM market.
The global Automotive Front-End Module (Fem) Market is
estimated to be USD 89.75 Billion in
2015, and is projected to reach USD 119.08
Billion by 2020, growing at a CAGR of 5.82%. The FEM Market
is primarily driven by the increasing production of light passenger
vehicles and heavy-duty vehicles, rising demand for FEM
modularization, and growing demand for lightweight FEMs.
Increasing demand for vehicles
From 2010 to 2015, the automotive industry underwent a period of
substantial growth and profitability in regions such as
Asia-Pacific and North America; the annual sale of vehicles has
reached pre-recession levels in these regions. However, considering
the present political, economic, and social situation in countries
such as Brazil, Russia, Ukraine, and Middle Eastern countries, the
future of the automotive industry remains uncertain. According to
MarketsandMarkets analysis, the North American automotive market is
experiencing rapid growth in terms of production and sales.
However, the outlook for European countries is much weaker, as the
region is slowly emerging from a six-year sales slump.
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Asia-Pacific remains the major
driving force behind the global automotive industry, with 90.6
million motor vehicles produced-of which over 72.3 million were
passenger cars-in 2014, as per the European Automobile
Manufacturers Association (ACEA). Factors such as the shift in
consumer preferences, expanded regulatory requirements for safety
and fuel economy, and availability of data and information
regarding FEMs to end-users are expected to fuel the growth of the
FEM Market.
Increasing demand for FEM modularization
The trend of FEM modularization is gaining traction, as
modularization helps OEMs save on cost, time, and manpower during
the manufacturing process. Previously, each and every component of
the FEM was assembled by OEMs on the assembly line; this was
time-consuming and extended the production process of the vehicle.
However, the advent of modularization has enabled OEMs to save on
these costs and opt for outsourcing these functions. OEMs save
around 20 to 30% of costs through modularization, in comparison
with the traditional front-end methods.
China could emerge as a
potential market
As of 2014, China is the
largest automotive market in the world, and has remained the key
driver of regional sales in Asia-Pacific, despite a 7.4% slowdown in GDP
growth in 2012-2013. According to MarketsandMarkets Analysis,
China is the largest market for
automotive FEMs, in terms of both, value and volume. Global OEMs
such as Volkswagen and General Motors cater to this market by
entering into joint ventures with domestic manufacturers. The
Chinese market is witnessing substantial growth in the sales of and
demand for automobiles, as the economy and spending capability of
the population is growing. Recent infrastructural developments have
boosted the growth of commercial vehicles. However, increasing
vehicle production has led to a rise in pollution levels in the
country, worsening the urban air quality. The Chinese government is
therefore promoting the adoption of vehicles with lower emissions
and higher fuel efficiency.
This report also contains profiles of major FEM and FEM
component manufacturers such as Faurecia SA (France), Denso Corporation (Japan), MAHLE GmbH (Germany), Calsonic Kansei Corporation
(Japan), HBPO Group (Germany), Magna International Inc.
(Canada), Hyundai Mobis
(South Korea), Plastic Omnium
(France), and Samvardhana
Motherson Group (The Netherlands),
among others, along with their key strategies and recent
developments.
The report segments the FEM Market on the basis of component
(radiator, condenser, core support, headlight, front grill,
bumpers, fenders, crash management system, and others), vehicle
type ( PC, LCV, and HCV) region (Asia-Pacific, Europe, North
America, and RoW), and material (steel, aluminum, plastic,
and composites).
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