Global Smart Bumper Market – Use of Lightweight Materials to Boost Growth | Technavio

By , in PR PR Health on .

LONDON–(BUSINESS WIRE)–Technavio market research analysts forecast the global smart bumper market to grow at a CAGR of over 5% during the period 2018-2022, according to their latest report.

Development of bumper airbags for pedestrian safety is a new trend which is expected to impact the market during the forecast period. OEMs are working on the development of bumper airbags, which are designed to protect the pedestrians from crashing into vehicles, thereby, reducing the chances of serious injuries and fatalities. This was one of the measures to improve the safety of pedestrians driven by the regulations of various authorities.

This report is available at a USD 1,000 discount for a limited time only: View market snapshot before purchasing

Save more with Technavio. Buy 2 reports and get the third for FREE: View all Technavio’s current offers

In this report, Technavio analysts highlight the use of lightweight materials to manufacture smart bumpers leading to enhanced fuel efficiency, as a key factor contributing to the growth of the global smart bumper market:

Use of lightweight materials to manufacture smart bumpers

The automotive industry is witnessing a structural shift in terms of use of lightweight materials and engine downsizing to achieve higher fuel efficiency. Features such as antilock braking system (ABS), ADAS, and infotainment system, which were earlier an essential part of luxury vehicles, are gradually witnessing adoption in entry-level passenger cars. The incorporation of such features increases the overall weight of a vehicle. This drives the need for the use of lightweight materials to manufacture lighter bumpers. Use of lightweight materials helps in enhancing the fuel economy and simultaneously reducing CO2 emissions.

According to a senior analyst at Technavio for automotive components research, “Fuel economy norms implemented by regulatory bodies in different countries impel OEMs to focus on lightweight materials for better fuel efficiency. Traditionally, consumers considered engine power as the only criterion when purchasing new vehicles. However, with time, they have shifted their focus toward vehicles that offer an optimum combination of power, performance, reliability, and fuel efficiency. Consumers prefer fuel-efficient vehicles to reduce the overhead cost.”

Smart bumpers include an active aerodynamic system and are expected to incur lesser maintenance costs. Due to easy availability and less cost price, plastic bumpers are expected to penetrate a wider market. As a result, smart bumper manufacturers are focusing on materials that have aerodynamic properties along with performance stability. Therefore, it is expected that the global smart bumper market will witness healthy growth during the forecast period.

Looking for more information on this market? Request a free sample report

Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.

Global smart bumper market segmentation

This market research report segments the global smart bumper market by end user (OEM and aftermarket) and key regions (the Americas, APAC, and EMEA).

The OEM end-user segment is expected to dominate the market with a market share of more than 98% during the forecast period. In 2017, the Americas dominated the global smart bumper market with a share of close to 55%, followed by EMEA 32% and APAC. However, the market share of the Americas is expected to decline by close to 3% over the forecast period, while the other two regions are expected to witness an increase in their share of the market.

Technavio supports Health for All campaign on this World Health Day with 20% savings on all reports in the Health and Wellness category for the entire month.

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

If you are interested in more information, please contact our media team at [email protected].

The following two tabs change content below.
Jasmine Petters

Jasmine Petters

Jasmine hails from the city of Nizams, Hyderabad, and is currently pursuing her M.D. from there only. She is an internet wizard and has keen passion in All Things tech. She is a regular Comment contributor for The Daily Telescope and writes a Web column, in which she covers war, sports, and everything in between.
%d bloggers like this: