New York, US, July 13, 2023 (GLOBE NEWSWIRE) -- According to a Comprehensive Research Report by Market Research Future (MRFR), “Bumper Beam Market Information By Type, by Application, and Region - Forecast till 2030”, The bumper beam market will surge from USD 1.6 Billion in 2023 to USD 2.2 Billion by 2032, experiencing growth at a rate of 4.20% between 2023 and 2032.
Bumper Beam Market Overview
Plastic and composite materials work very well as bumper beams. Bumper beams typically range in weight from 30% to 50% of steel. It is projected that factors including rising customer awareness of safety issues and manufacturers' increased usage of cutting-edge materials will fuel market expansion throughout the study period. One of the main factors projected to speed up market progress is the increased demand for lightweight materials. These parts make cars lighter and improve fuel efficiency. Bumper beams made of aluminum, magnesium, and carbon fiber-reinforced polymer (CFRP) can significantly reduce weight while maintaining structural strength and rigidity. Consequently, as manufacturers attempt to lighten their vehicles to comply with laws and consumer demand for fuel-efficient autos, the market is predicted to grow.
Bumper Beam Market Competitive Landscape:
The most eminent firms in the bumper beam industry are
- Thyssenkrupp
- Magna International
- Benteler Deutschland
- Plastic Omnium
- HUTCHINSON
- CIE Automotive
- Futaba Industrial
- Sungwoo Hitech
- UNIPRES Aisin Takaoka
- Tower International
- Lingyun Industrial
- Minth Group
- Yachiyo Industry
- Shanghai Jiaoyun Group
- Tata AutoComp Systems
- Among others.
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June 2023
The first of 38 steel beams that will be used to construct the Wendover Dean Viaduct's low-carbon structure has arrived on site in advance of the commencement of deck building.
In order to cause the least amount of interruption to the surrounding towns, the steel beam journeyed at night the 560 miles from France to the Wendover Dean Viaduct.
Each of the 40-tonne beams was produced by Eiffage Metal at a specialized facility in France using 'weathering steel,' a substance that progressively takes on a deep, dark brown hue as it weathers. To blend in with the surroundings, this steel version was specifically designed.
Report Scope:
| Report Metrics | Details |
| Market Size 2032 | 2032: USD 2.2 billion |
| CAGR during 2023-2032 | 4.20 % CAGR |
| Base Year | 2022 |
| Forecast | 2023-2032 |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, Application, and Region |
| Key Market Opportunities | Recent technological developments |
| Key Market Dynamics | The rising awareness for safety among vehicle owners, as well as increasing usage of innovative, and new materials by manufacturers |
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Market USP Covered:
Bumper Beam Market Drivers:
The market for bumper beams is primarily driven by the mounting number of traffic incidents and the expanding automotive sector. Bumper beams can be carefully designed to increase strength, decrease weight, and maximize the possibilities of using recyclable materials to lessen environmental impact.
To support the expansion of the market, producers are concentrating on creating enhanced automobile bumper materials at a reasonable cost for customers. Additionally, the need for bumper beams in various vehicle platforms is rising as a result of the development of new material technologies like polymer, polyamide, polypropylene, and polystyrene. Future chances for market expansion for bumper beams are being created by rising fuel economy and emissions.
Bumper Beam Market Restraints:
The scarcity of professionals with the necessary skills and the high operation and production costs of bumper beams restrains market expansion over the anticipated time frame. On the other hand, rising R&D efforts and rising private sector investments in the automotive industry are projected to accelerate market expansion during the projection period.
Bumper Beam Market COVID 19 Analysis
The automobile sector, which employs more than 50 million people worldwide and is one of the most significant generators of the global economy, is facing difficult times. The number of cars sold in March 2020 was 30% lower than it was in March 2019, and it is unclear when the auto facilities, which have been closed for more than a month, will return.
The decline in auto sales brought on by COVID-19 is having a significant impact on a number of other industries, including those that rely heavily on the automotive sector, such steel and logistics. The car sector will need to adjust to new methods of operating since social alienation will persist even when businesses reopen.
Automobile manufacturers are reviewing their operational and strategic plans for the world after COVID-19. The current top priorities are to make it possible for employees to work remotely whenever possible, to cut operating expenses, and to invest in digital technologies that will keep clients happy and relieve financial pressure. This has had a positive impact on the overall growth of the bumper beam industry.
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Bumper Beam Market Segmentation
By Type
Types of bumper beam in the market are steel reinforcing beams, plastic reinforcing beams, aluminum reinforcing beams, and others. The segment's share of total revenue in 2022 was dominated by steel reinforcing beams. To provide a component extra durability and strength, steel reinforcing beams are used in the automotive industry. Given their ability to bear pressure and severe weights without breaking, they are commonly utilized in car bumpers. The increase of automotive production worldwide, particularly in developing nations like India, China, Brazil, and South Africa, is the main factor driving this market's growth.
By Application
Passenger automobiles and commercial vehicles are included in the application-based segmentation of the bumper beam market. In 2022, the bumper beam market was led by the passenger car segment. Increased passenger car production in developing nations like China, India, and Brazil has aided in the expansion due to the growing middle class, which can afford to pay higher vehicle prices. Commercial vehicles are expected to expand rapidly over the projection period as a result of rising demand from the construction sectors in many various regions, including North America and Europe. Government regulations that are stringent on the safety requirements for commercial vehicles would further boost demand for the product.
Bumper Beam Market Regional Insights
In 2022, the bumper beams market in North America had the top position (45.80%). A number of well-known vendors are encouraging the use of cutting-edge materials in product manufacture through marketing campaigns and branding, which is anticipated to boost demand for bumper beams throughout the course of the forecast period. The region's largest market is in the United States, while Canada will have the fastest growth.
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Given its inventiveness and knowledge in this area, Europe will gain a sizable market share. The market benefits from the relative abundance of skilled employees, which is demonstrated by their highest foreign investment in R&D. To further help this industry, the European Commission plans to toughen internal market regulations.
From 2023 to 2032, the Asia Pacific Bumper Beam market is anticipated to experience rapid growth. The biggest regional rivals, such as Plastic Omnium, Magna International Inc., Hyundai Mobis, and others, have partnered with successful merchants and distributors in order to stay competitive in the market. Additionally, the Asia-Pacific region's bumper beam market in China had the highest market share, and the market in India had the fastest rate of expansion.
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