World Auto Bumper Market to Post 5.76% CAGR by Revenue through 2023, States MRFR in Its Report Available at MarketPublishers.com
06 Dec 2017 • by Natalie Aster
LONDON – The revenue of the world auto bumper market is forecast to reach USD 14,489 million by 2023, recording a 5.76% CAGR in the offing. The rising awareness for cleaner technology has been the key factor driving the automotive industry. Furthermore, increasing disposable income levels and car-ownership give a boost to the market growth. Ongoing modernisation and technological advancements, heavy investment in R&D efforts, government policies are stimulating the market growth. Focus on high-quality products and the changing consumer lifestyles and increasing buying power propel the growth of the automotive bumper sector. Meantime, the inefficiency of bumpers and volatile prices of raw materials hinder the sector’s expansion.
With respect to material types, composite plastic grabs the largest market share (55.6%) in 2016 of the world auto bumpers market. Based on positioning, front ends have captured the largest market share by value. By end market, OEM has grabbed the lion’s market share (75.3%) as of 2016 of the world auto bumper marketplace.
In-demand research report “Global Automotive Bumper Market Research Report- Forecast 2023” created by Market Research Future (MRFR) offers valuable information on the market. It provides detailed market segmentation based on material, positioning, end market, end-user, and region-wise. The report gives a true, detailed picture of the actual market scenario, covers historical and forecasted market size by value and volume, technology advances, macro economical and governing factors in the marketplace. The report highlights the market dynamics covering the market growth drivers, restraints, and opportunities in emerging economies. The study scrutinises the competitive scenario, profiles the top manufacturers and discusses their strategies.
More in-demand research reports by MRFR are available in this catalogue at MarketPublishers.com.