Light Vehicle Front End Modules Market Size, Share, Growth, and Industry Analysis, By Type (Passenger Cars and Light Commercial Vehicle), By Application (Sedan, SUV and Others) Regional Forecast to 2027

Updated On: 08 April 2024

REPORT OVERVIEW

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The global light vehicle front end modules market size was USD 8695 million in 2020. As per our research, the market is projected to touch USD 14370 million by 2027, exhibiting a CAGR of 7.7% during the forecast period. The COVID-19 pandemic has been unprecedented and staggering, with experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels.

The light vehicle front end modules market offers a number of advantages for manufacturers and consumers. These advantages include increased safety, reduced weight, improved aerodynamics, cost savings, increased customization, and reduced complexity. The increasing demand for safety features, the need for lightweight materials, and the growth of electric vehicles are all driving light vehicle front end modules market growth.

COVID-19 Impact: Imposed Restrictions in the Economy which led to a decline in demand for the Market

The COVID-19 pandemic has had a significant impact on the light vehicle front end modules market. The market was already facing challenges due to the increasing complexity of vehicles and the need for lightweight materials, but the pandemic has exacerbated these challenges. The pandemic has led to a decline in demand for vehicles, disruptions to supply chains, and increased costs of production. However, the light vehicle front end modules market share is expected to grow in the long term due to the increasing demand for safety features and the need for lightweight materials.

LATEST TRENDS

"Higher Standards of Performance by Increase in Infrastructure Spending to Grow Market Potentially"

The light vehicle front end modules market is evolving rapidly, driven by a number of trends, including the increasing demand for safety features, the need for lightweight materials, the growth of electric vehicles, the use of ADAS (Advanced Driver-Assistance Systems), the development of modular front end modules, and the use of 3D printing.

The increasing demand for safety features is driving the use of front end modules to house airbags and crumple zones. The need for lightweight materials is driving the use of plastics and composites in front end modules. The growth of electric vehicles is making front end modules simpler and lighter, which is driving demand for these modules. The use of ADAS systems is increasing the complexity of front end modules, as they require sensors and cameras to be housed. Modular front end modules are designed to be easily disassembled and reassembled, making them easier to repair and replace. 3D printing is being used to produce more complex and lightweight front end modules, and it is also being used to create customized front end modules for specific vehicle models.

SEGMENTATION

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• By Type

Based on type the light vehicle front end modules market share is classified as Passenger Cars and Light Commercial Vehicle.

• By Application                                          

Based on application the light vehicle front end modules market share is classified as Sedan, SUV and Others.

DRIVING FACTORS

"Increasing demand for safety features which leads to the market growth"

The number of safety features in vehicles has been increasing in recent years, driven by government regulations and consumer demand. Front end modules are often used to house these safety features, such as airbags and crumple zones. For example, the European Union has made it mandatory for all new vehicles to be equipped with front airbags and side airbags.

"Use of ADAS (Advanced Driver-Assistance Systems) for market growth"

ADAS systems are becoming increasingly common in vehicles. These systems use sensors and cameras to provide features such as lane departure warning, automatic emergency braking, and adaptive cruise control. Front end modules often house these sensors and cameras. ADAS systems are becoming increasingly complex, which is driving demand for more sophisticated front end modules.

RESTRAINING FACTORS

"Several Challenges Associated with the Local Irritation to Restrain the Market Growth"

The light vehicle front end modules market is facing some restraining factors, such as the high cost of production, increasing competition, trade restrictions, technical challenges, and stringent government regulations. The high cost of production is due to the complex and labor-intensive process involved in manufacturing front end modules. Increasing competition is due to the entry of new players in the market. Trade restrictions can make it difficult for manufacturers to import or export front end modules. Technical challenges include the development of lightweight and durable materials. Stringent government regulations can impose costs on manufacturers.

These restraining factors could slow down the growth of the light vehicle front end modules market in the coming years. However, the market is still expected to grow, driven by the increasing demand for safety features, lightweight materials, and electric vehicles.

REGIONAL INSIGHTS

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"Asia Pacific Region to Dominate the Market with Extensive Utilization and Multiplying Manufacturers"

Asia Pacific is the largest market for light vehicle front end modules, accounting for a substantial share. This is driven by the growth of the automotive industry in the region, especially in China and India. The growth of the automotive industry in Asia Pacific is being driven by the rising disposable incomes of consumers in the region. This is leading to an increase in demand for passenger vehicles, which are equipped with front end modules.

KEY INDUSTRY PLAYERS

"Financial Players to Contribute Towards Expansion of Market"

The light vehicle front end modules market is highly competitive, with a large number of players vying for market share. The key industry players in the market include HBPO Group, Magna, Valeo, Flex-N-Gate Corporation, DENSO, Calsonic Kansei, Hyundai Mobis, SL Corporation, and Yinlun. These companies are all major automotive suppliers that manufacture a wide range of components and systems, including front end modules. They are constantly innovating and developing new products to meet the needs of customers.

List of Market Players Profiled

• HBPO Group (China)
• Magna (Canada)
• Valeo (France)
• Flex-N-Gate Corporation (U.S)
• DENSO (Japan)
• Calsonic Kansei (Japan)
• Hyundai Mobis (South Korea)
• SL Corporation (South Korea)
• Yinlun (China)

REPORT COVERAGE

The SWOT analysis and information on future developments are covered in the study. The research report includes a study of a number of factors that promote market growth. This section also covers the range of numerous market categories and applications that could potentially affect the market in the future. The specifics are based on current trends and historical turning points. The state of the market's components and its potential growth areas over the following years. The paper discusses market segmentation information, including subjective and quantitative research, as well as the impact of financial and strategy opinions. Additionally, the research disseminates data on national and regional assessments that take into account the dominant forces of supply and demand that are influencing market growth. The competitive environment, including market shares of significant competitors, is detailed in the report along with fresh research methodology and player strategies for the anticipated time.