PUBLISHER: The Business Research Company | PRODUCT CODE: 1409222
PUBLISHER: The Business Research Company | PRODUCT CODE: 1409222
“Automotive Fascia Global Market Report 2024 ” 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.
An automotive fascia constitutes the section encompassing the instruments and dials within a vehicle, serving as a decorative dashboard panel or assembly.
Primary types of automotive fascia include the front fascia, rear fascia, those used in commercial vehicles, and those designed for passenger cars. The front fascia typically employs softer materials such as high-density polyethylene, fiberglass, rubber, and sometimes faux or genuine leather, crafted to encase the bumper itself. Materials used in manufacturing fascia components comprise steel, aluminum, rubber, plastic-coated styrofoam, plastic-coated aluminum, among others, utilized in both aftermarket and original equipment manufacturer (OEM) applications.
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.
The automotive fascia market size has grown strongly in recent years. It will grow from $19.15 billion in 2023 to $21.27 billion in 2024 at a compound annual growth rate (CAGR) of 6.6%. During the historical period, growth in the automotive fascia sector can be attributed to several factors, including evolving aesthetic design trends, governmental initiatives driving advancements, integration of advanced lighting systems into fascia designs, customization efforts aimed at brand differentiation, concerns regarding environmental impact encouraging eco-friendly solutions, and the industry-wide focus on lightweighting for improved efficiency.
The automotive fascia market size is expected to see strong growth in the next few years. It will grow to $27.39 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%. Anticipated growth in the forecast period is expected to be driven by several factors, including the rise of electrification and autonomous driving technologies, the emphasis on sustainable material solutions, the integration of smart connectivity features, the global expansion of automotive production, and concerns related to urbanization and traffic safety. Major trends projected in this period encompass the integration of advanced lighting technologies within fascia designs, a focus on customization and aesthetic design for unique branding, innovations in materials to reduce weight and enhance sustainability, utilization of sustainable and recyclable materials, incorporation of smart technologies within fascia components, and the adoption of advanced manufacturing techniques to enhance efficiency and quality.
The anticipated surge in vehicle sales is expected to drive the expansion of the automotive fascia market. A vehicle, defined as an engine-powered mode of transportation for individuals or goods, features automotive fascia at its front and rear ends. This component not only plays a crucial role in optimizing the vehicle's aerodynamics but also contributes to enhancing its exterior aesthetics. Notably, in March 2022, the European Automobile Manufacturers' Association (ACEA) reported a 5.5% increase in US passenger car sales from 2020 to 11.9 million units in 2021. Furthermore, US auto plants produced approximately 6.3 million passenger cars in 2021, reflecting a 3.1% growth compared to the previous year. Similarly, Chinese automakers saw a 7.1% increase in automobile production, reaching 20.7 million units in 2021. Globally, the total number of cars produced rose by 2.7% to 63.2 million in 2021, underscoring the pivotal role of rising vehicle sales in propelling the automotive fascia market.
The automotive fascia market is set to experience growth driven by the increasing demand for luxury and customized cars. Luxury cars, characterized by high-end features, powerful engines, cutting-edge technology, and opulent amenities, are produced by reputable luxury automakers. These vehicles often incorporate premium components, such as costly interior materials, and offer a high level of personalization, meeting the preferences of luxury car buyers through distinctive finishes, brand-specific features, and customized design elements on the automotive fascia. For example, in January 2023, Rolls-Royce Limited reported a sales increase of 8%, with 6,201 units sold in 2022 compared to the previous year, achieving a record-breaking annual sales figure. This surge in demand for luxury and personalized vehicles is a key driver for the growth of the automotive fascia market.
A notable trend in the automotive fascia market is the adoption of technological advancements by companies to maintain their competitive position. In this context, Hyundai Mobis, a South Korea-based automaker corporation and car parts company, introduced innovative technology in June 2021. The 'lighting and moving' grille technology features LED lighting in the front grille, enhancing design effects and enabling communication with other vehicles. Additionally, the 'grille integrated active pair flap' technology, part of the moving grille, automatically adjusts airflow to cool the powertrain, serving a dual purpose of functionality and illumination. This technological innovation, exemplified by Hyundai Mobis, reflects the broader trend of companies leveraging advanced technologies to stay relevant in the automotive fascia market.
Prominent entities in the automotive fascia market are directing their focus towards the utilization of non-metal materials, encompassing Acrylonitrile Butadiene Styrene (ABS), polycarbonate, polypropylene, rubber, and metal compounds such as aluminum and steel, in their manufacturing processes. Non-metallic materials, whether natural or synthetic, exhibit distinct chemical characteristics and are integral to the production of automotive fascia. A case in point is TotalEnergies SE, a France-based integrated energy and petroleum company, which, in December 2021, entered into a strategic partnership with Plastic Omnium, a France-based manufacturer of automotive exterior parts and systems. This collaboration aims to deliver comprehensive bumper solutions by developing new plastic materials derived from recycled polypropylene, meeting the stringent safety and aesthetic standards demanded by the automotive sector.
In October 2021, MiddleGround Capital, a private equity firm based in the United States, successfully acquired Plasman Holdings in an undisclosed deal. This strategic acquisition is anticipated to facilitate the growth of both companies by strengthening their relationships with customers and enabling expansion into new geographical regions and product markets. Plasman Holdings, headquartered in Canada, specializes in the manufacturing of various automotive products, including bumpers or fascias, grilles, and exterior trim specifically designed for light vehicles.
Major companies operating in the automotive fascia market report are Dongfeng Electronic Technology Co. Ltd., MRC Manufacturing, Eaksa Corporation, Flex-N-Gate LLC, Magna International Inc., SANKO GOSEI Ltd., Plastic Omnium, Gestamp Services India Pvt. Ltd., Chiyoda Corporation, Inhance Technologies, Aisin Light Metals LLC, Mobis Georgia LLC, Dakkota Integrated Systems LLC, Venta Lonia LLC, Revere Plastics Systems LLC, Guardian Industries, Hyundai Mobis Co., Faurecia SE, Samvardhana Motherson International Ltd., HBPO GmbH, The REHAU Group, TONG YANG GROUP, Futaba Industrial Co. Ltd., Toyoda Gosei Co. Ltd., KIRCHHOFF Automotive GmbH, Magneti Marelli S.p.A., SRG Global Inc., Visteon Corporation, Valeo SA, Calsonic Kansei Corporation .
Asia-Pacific was the largest region in the automotive fascia market in 2023. The regions covered in the automotive fascia market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the automotive fascia market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The automotive fascia market consist 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.
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.