Automotive Bumper Market Expected to Reach $28 Billion by 2032

According to a new report published by Allied Market Research, titled, “Automotive Bumper Market," The automotive bumper market size was valued at $18.8 billion in 2022, and is estimated to reach $28 billion by 2032, growing at a CAGR of 4.2% from 2023 to 2032.

Automotive bumpers are structures used in automobiles to reduce the impact on the vehicle during collision. However, automotive bumpers cannot reduce the effect of impact at higher speeds but they can lessen the injury caused to the pedestrians struck by the vehicles.  The automotive bumpers are also used to safeguard hood, fuel system, exhaust, and cooling system and other critical components in a vehicle.  

The global automotive bumper industry has seen significant growth due to an increase in sales of automobiles globally, an increase in customer demand for advanced safety features, and the strengthening of safety regulations. However, fluctuation in the price of raw materials and the increasing trend towards EVs are anticipated to hinder the market growth rate during the review period. Furthermore, technological advancement and the use of composite materials and growing trend towards lightweight components.  

The global automotive bumper market share is analyzed on the basis of type, material, and vehicle type. On the basis of type, the market is segmented into standard bumper, deep drop bumper, roll plan bumper, step bumper, and tube bumper. Based on material, the market is segregated into steel, aluminum, fiber and plastic. By vehicle type, the market is segmented into passenger vehicle and commercial vehicle. Region wise, the market is analyzed into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa. .  

In addition, the market is highly competitive, with several key players dominating the automotive bumper industry. Prominent manufacturers focus on innovation, product differentiation, and strategic partnerships to maintain their market positions. Market leaders include companies such as TOYODA GOSEI Co., Ltd., FORVIA Faurecia, TOYOTA BOSHOKU CORPORATION, SMP Deutschland GmbH, Flex-N-Gate Corporation, Plastic Omnium, MONTAPLAST GmbH, WARN International Ltd, NTF GROUP, and KIRCHHOFF Group. 

Automotive bumpers play a crucial role in minimizing the impact of collisions as they absorb the energy impact during crashes; automotive bumpers are an essential component for the safety of automobiles and their occupants. Similarly, in recent years, there has been an increasing focus on utilizing composite material to manufacture automotive bumpers because composite materials are lightweight and durable. These materials are created by combining two or more substances that have distinct chemical and physical properties to create an entirely novel material with distinctive characteristics. Utilizing composite material also allows manufacturers to improve the fit and finish of the vehicle and provide more styling options as compared to traditional automotive bumpers. Thus, the increased technological advancement and use of composite materials are anticipated to help in the growth of the automotive bumper market 

However, in recent years the demand for electric vehicles is growing due to the increasing inclination of consumers toward a cleaner and environmentally friendly mode of transportation. For instance, in July 2021, the Government of Japan set a target for all new cars sold in Japan to be environmentally friendly. The plan also outlines subsidy programs offered by the government for the purchase of environmentally friendly vehicles. In a similar vein other countries are also promoting the use of EV.  However, in modern electric vehicles, bumper design and function have changed. As electric vehicles are constructed on different platforms and have unique structural needs, automakers are looking at creative methods to increase safety and economy while lowering weight and boosting vehicle aerodynamics. Due to this, the conventional bumper design is been updated, and several automakers are now working on removing or changing bumpers to better meet the demands for electric cars. 

For instance, on February 1, 2024 Honda Motor Co., Ltd. applied for a patent with the United States Patent & Trademark Office (USPTO) for a hidden compartment in its electric vehicle bumper. The bumper will include slide-out drawer. This creative storage area's main goal is to create more storage space in vehicles. Thus, the increasing trend towards automotive bumper modification and removal of automotive bumpers in electric vehicles is anticipated to hinder the automotive bumper market growth rate in the near future.   

Key Findings of the Study 

• By type, the tube bumper segment is anticipated to exhibit significant growth in the automotive bumper market analysis in the near future. 

• By material, the fiber segment is anticipated to exhibit significant growth in the automotive bumper market in the near future. 

• By vehicle type, the passenger segment is anticipated to exhibit significant growth in the automotive bumper market in the near future. 

• By region, Asia-Pacific is anticipated to register the highest CAGR during the automotive bumper market forecast period.