USD 29.42 billion
Report ID: SQMIG25A2061 | Region: Global | Published Date: February, 2023 | Pages: 242 | Tables: 88 | Figures: 76
Global Automotive Fascia Market size was valued at USD 29.42 billion in 2021 and is poised to grow from USD 31.14 billion in 2022 to USD 49.11 billion by 2030, growing at a CAGR of 5.86% in the forecast period (2023-2030).
Automotive fascia is a decorative plastic panel located on the upper side of the bumper at the front and rear of the vehicle. To cover the bumper original equipment manufacturers frequently design the fascia for giving a cool look to the vehicle. It is produced from light weight plastic, so it can minimize the weight and increase the power efficiency of a vehicle. Furthermore, it facilitates space for headlamps, bumpers, grills, and vehicle emblems.
Rapid urbanization throughout the countries resulted in a significant growth of the automotive industry, also the disposable income of consumers is increasing so as spending power increased which is boosting the vehicle sales. All of these are driving the automotive fascia demand. The ingenious technology is continuously on the rise in the automotive industry and that is giving rise to splendour vehicles adoption has increased the demand for automotive fascia.
However, the fluctuation in raw materials price is a constraint for the global automotive fascia market over the forecast period (2022-2028). Due to the outbreak of COVID-19 pandemic, it started affecting the world economy, which also affects the automobile sector, and the disruption in the product supply chain which gives rise to troubles for the producers. As a result, it is hindering the market growth during the forecast timeline.
Global Market Size
USD 29.42 billion
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Global automotive fascia market is segmented based on the position type, vehicle type, sales channel, and region. Based on position type, the market is segmented into front fascia, and rear fascia. Based on vehicle type, the market is segmented into light commercial vehicle, heavy commercial vehicle, passenger vehicle. Based on the sales channel, it is categorized into OEM, aftermarket. Based on region, the market is segmented into North America, Latin America, Europe, Asia Pacific, and MEA.
Analysis by Position Type
Based on position type, the market is segmented into front fascia, and rear fascia. The front fascia segment is assumed to augment the global automotive fascia market over the said forecast period due to the high interest of manufacturers on developing modern and attractive fascia of the front bumper for improving the aesthetics of vehicles. The front fascia includes headlamps, grille, vehicle emblem, and front bumper.
Analysis by Vehicle Type
Based on vehicle type, the market is segmented into light commercial vehicle, heavy commercial vehicle, passenger vehicle. The increase of disposable income gives rise to increasing spending capability, and very good infrastructure altogether increases the demand of grandeur vehicles; and the passenger vehicle segment can possibly drive the global automotive fascia market over the forecast period based on the assumption.
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Asia Pacific is among the regions to dominate the global automotive fascia market owing to huge sales of automotive. The economy is increasing and the level of affluence is growing significantly to meet with the modern trends to live, spend, and enjoy life to its best, which will positively drive the automotive fascia market in the region. Increasing number of automotive manufacturing industries coupled with the newest foreign automaker in developing nations including China and India are propelling the market growth during the aforementioned forecast period. Furthermore, due to population rise in this region, it resulted in the good production of passenger vehicles especially in countries like South Korea, China, and India which is assumed to benefit the market growth exponentially.
North America is holding a considerable amount of market share because of high production of commercial vehicles in the region for adventurous purposes and transportation. Europe is further predicted to witness some growth in the market because of the major market players’ presence in the region.
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Demand for Conventional Vehicle to Drive the Demand for Automotive Fascia in Global Market
High Cost associated with Maintaining to Hinder Market Growth
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Global automotive fascia market is highly competitive and somewhat fragmented. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies. Innovations, mergers, and acquisitions, collaborations and partnerships are adopted by these players to thrive in the competitive market. In order to provide industries with the most effective and economical solutions, the major market players are also continually concentrating on R&D.
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SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our global automotive fascia market analysis, increasing the demand for vehicles in the modern world, as a result it gives rise to the demand of automotive fascia. The technological enhancements are continuously on the rise in the automotive industry and that is giving rise to adoption of luxurious vehicles; hence increased the demand for automotive fascia. Also, the demand for different shapes of fascia further increases the demand for automotive fascia. But the market may witness some hindrance due to the high cost of the raw materials to repair the damaged parts.
|Market size value in 2021||USD 29.42 billion|
|Market size value in 2030||USD 49.11 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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For the Global Automotive Fascia Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Automotive Fascia Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Automotive Fascia Market:
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