Automotive Front End Module Global Market Report 2023 – Market Size, Trends, And Global Forecast 2023-2032

The Business Research Company’s Automotive Front End Module Global Market Report 2023 – Market Size, Trends, And Global Forecast 2023-2032

LONDON, GREATER LONDON, UK, November 16, 2023 /EINPresswire.com/ -- The global automotive front-end module market is on the cusp of significant growth, with a projected increase from $105.18 billion in 2022 to $115.02 billion in 2023, reflecting a robust compound annual growth rate (CAGR) of 9.4%. The market, despite grappling with the repercussions of the Russia-Ukraine war, is expected to reach a substantial $154.4 billion by 2027. This growth is primarily attributed to the surge in vehicle production, driven by economic recovery and changing consumer preferences.

Automotive Front End Module Market Growth
The increase in vehicle production is expected to be a key driver of growth in the automotive front-end module market. The growing global economy and rising standards of living have augmented consumer purchasing power, reshaping the way people live and move. The emphasis on social distancing to combat COVID-19 has prompted a surge in demand for personal mobility. This surge in demand has led to increased vehicle production and, in turn, a higher demand for front-end modules.

For instance, in 2021, a report from the European Automobile Manufacturers Association indicated that 79.1 million motor vehicles were produced worldwide, marking a 1.3% increase over the previous year. Additionally, consumers spent $120 billion on electric vehicle purchases in 2020, a 50% increase compared to 2019. This increased demand for vehicles is expected to drive the automotive front-end module market further.

Explore comprehensive insights into the global automotive front-end module market with a detailed sample report:
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Automotive Front End Module Market Key Players and Technological Advancements
Major players in the automotive front-end module market include Calsonic Kansei Corporation, Compagnie Plastic Omnium SA, Denso Corporation, Faurecia SA, HBPO GMBH, Hyundai Mobis Co Ltd., Magna International Inc., Mahle GmbH, Valeo S.A., Plastic Omnium, Samvardhana Motherson Automotive Systems Group B.V., SL Corporation, AGS Automotive Systems, Arkal Automotive, Inteva Products, and Gestamp Automoción S.A.

Technological advancements play a significant role in the market's evolution, with companies incorporating next-generation automotive front-end technologies into their products. These innovations encompass advanced headlight systems, automotive head-up displays (HUD), brake assistance, panel technology, intelligent sensors, and more. The aim is to make automotive applications more reliable, compact, safer, and cost-effective.

For example, Samsung introduced the PixCell LED, an intelligent headlight system featuring an adaptive driving beam (ADB) system, which enhances driver visibility and road safety. Such technological advancements are poised to reshape the automotive front-end module market.

Regional Insights
Asia-Pacific emerged as the largest region in the automotive front-end module market in 2022 and is expected to maintain its position as the fastest-growing region in the forecast period. The analysis of the automotive front-end module market encompasses regions such as Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

For an in-depth analysis of the global automotive front-end module market, access the complete report:
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Automotive Front End Module Global Market Report 2023 from TBRC covers the following information:
•Market size date for the forecast period: Historical and Future
•Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
•Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.

The Automotive Front End Module Global Market Report 2023 by The Business Research Company is the most comprehensive report that provides insights on automotive front end module market size, automotive front end module market forecast, automotive front end module market drivers and automotive front end module market trends, automotive front end module market analysis, automotive front end module market major players, automotive front end module market competitors' revenues, automotive front end module market share, automotive front end module market segments, automotive front end module market components , automotive front end module market positioning, automotive front end module market analysis, and automotive front end module market market growth across geographies. The automotive front end module market report helps you gain in-depth insights on automotive front end module market opportunities and automotive front end module market strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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