The international automobile bumper market income is predicted to reach an approximated US $24.8 billion dollars in 2017 with a CAGR of 4.6% over the next five decades (2012-2017). The growing attention to eco-friendly technology has been the primary car owner changing the automobile market.
Lucintel, a major international management talking to and general market trends firm, has examined the international automobile fender market and provides its conclusions in “Global Automotive Bumper Industry 2012-2017: Trend, Profit, and Forecast Research.”
The international automobile fender market, which is highly combined, consists of producers of front and back bumpers of automobiles. European countries rule the market with the biggest business. The market is mostly covered with five major companies: Compagnie Plastic Omnium, Faurecia, Magna International, Futaba Industrial Organization, and Toyoda Gosei Organization. Ongoing modernization and technical development, significant investment in analysis and development initiatives, government policies, and safety rules all affect market characteristics significantly.
The market is expected to perform well over the next five decades, motivated by great production of traveler car and commercial automobiles. European countries are predicted to see the highest participation in international income during the next five decades (2012-2017) although with a more slowly rate of growth. The major challenge faced by automobile fender producers is to make automobile light, using an extensive approach that uses the high-polymer technology.