Automotive Fender Market Outlook – 2027
The last few decades have seen significant improvements in the design and application of automotive fender in vehicles. Automotive fenders are a vital component in the vehicle. It is a metal covering provided to the front and the rear wheels of the vehicle. The fenders are panels that extend from the front bumper to the vehicle’s doors. Moreover, automotive fenders play a major role in safety of vehicle as it shields the vehicle from unwanted body damage and provide safety to the driver and the passengers at the time of accidents. With increasing number of vehicle production, the demand for automotive fender is also proliferating.
COVID-19 scenario analysis:
- The novel coronavirus epidemic has stimulated the historic change in the concept of life and consumption pattern of humans.
- The automakers have already started activities like donations and giving office spaces for COVID-19 treatment.
- With safety measures like lockdown and social distancing, the sales of new vehicles have dropped.
- COVID-19 will certainly present new challenges in the area of credit risks. As most fender manufacturers work on credit system, the capital generation has stopped.
- However, the only factor which would drive the market in this challenging situation is the safety offered by the automotive fender in a vehicle.
Top impacting factors: market scenario analysis, trends, drivers and impact analysis
The factor that drives the automotive fender market is that it protects the body of vehicle from scratches and damages. Also, it prevents sand, mud, rocks, and liquids from being thrown into the air by the rotating tire. Additionally, fenders ensure that body and engine have minimal contact with corrosive elements. Moreover, automotive fenders provide protection against liquid spills. However, some fenders decline the overall beauty of car and adds extra weight to it which could hamper the market growth. Further, automotive fenders avoid wind resistance and enhance the aerodynamics of the car, which supplements the market growth.
The automotive fender market trends are as follows:
Rise of injection molded fender
Energy efficiency is an essential consideration in sustainable manufacturing. Injection molded fenders offer better energy efficiency, high manufacturability and offer a high-quality product at a same time. Injection molding includes 4 stages viz., filling, packing, cooling, and ejection. The defects caused during manufacturing are comparatively less. As a result, the OEMs are installing injection molded fenders in vehicles. For instance, in 2012, Mahindra & Mahindra with support of Noryl GTX resin to adopted injection molded fender for XUV500.
Surge in sales of passenger cars
With increase in globalization and rise in disposable income in developing economies has increased the sales of passenger car segment. Additionally, with adoption of new technologies, the sales of passenger cars are rising. With rise in sales of passenger cars, the market of automotive fender is expected to increase.
Key benefits of the report:
- This study presents the analytical depiction of the automotive fender industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the market share.
- The current market is quantitatively analyzed to highlight the market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed automotive fender market analysis based on competitive intensity and how the competition will take shape in coming years.
Questions answered in the automotive fender market research report:
- What are the leading market players active in the automotive fender market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What are the projections for the future that would help in taking further strategic steps?
Automotive Fender Market Report Highlights
By Vehicle type
By Sales channel
Key Market Players
Futaba Industrial, Hitachi Chemical, Magna International, Faurecia, HUTCHINSON, Sungwoo Hitech, Benteler Deutschland, Thyssenkrupp, Tata AutoComp Systems., Plastic Omnium