PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1300825
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1300825
Global Automotive Fascia Market is valued approximately USD 21.35 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 6.07% over the forecast period 2023-2030. The front end or face of a car, specifically the section that comprises the bumper, grille, headlights, and other components, is referred to as the automotive fascia. It is the component of the vehicle that defines its visual aspect while also being important in aerodynamics, engine cooling, and pedestrian safety. The Automotive Fascia market is expanding because of factors such as increasing demand for lightweight vehicles and growing demand for luxury vehicles. The design of the automotive fascia differs depending on the vehicle model and brand. It frequently reflects the manufacturer's overall styling theme and brand identity. Automobile fascia designs have gotten increasingly aggressive and aerodynamically optimized in recent years in order to improve fuel efficiency and performance. Its importance has progressively increased during the last few decades.
According to the Statista, the compound annual growth rate of carbon fiber reinforced polymer materials used in the assembly of automobiles is expected to come to around 9% by 2025. Other polymer materials used in vehicle manufacturing include plastics and glass fibers. Furthermore, Market volumes for light vehicles with adaptive cruise control are expected to reach approximately 33 million units globally by 2033. Another important factor drives the market is increasing demand for luxury vehicles. As per Statista, in 2022, the global market for luxury cars was estimated at around USD 615.55 billion, an estimated increase of more than nine percent year-on-year. That same year, the global luxury market was put at around USD 1.50 trillion. In addition, at 2.4 million vehicle deliveries, BMW was the leading luxury car brand worldwide. Meanwhile, Volkswagen delivered around 1.61 million vehicles under its Audi brand in 2021. Also, technological advancement in automotive fascia and rising aftermarket vehicle modifications would create a lucrative growth prospectus for the market over the forecast period. However, the high cost of Automotive Fascia stifles market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Automotive Fascia Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the presence of key market players. According to the Statista, BMW remained the leading luxury car brand in the United States in 2020. BMW sold about 280,000 cars in the United States in 2020 and reached a luxury car market share of about 13.7 percent. Europe is expected to grow significantly during the forecast period, owing to factors such as increasing demand of luxury cars in the market space.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
List of tables and figures and dummy in nature, final lists may vary in the final deliverable
List of tables and figures and dummy in nature, final lists may vary in the final deliverable