Automotive Fender Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Automotive Fender Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Growth Factors of Automotive Fender Market

The Automotive fender market size was valued at USD 12.44 billion in 2023, and the market is now projected to grow from USD 13.39 billion in 2024 to USD 26.03 billion by 2032, exhibiting a CAGR of 8.7% during the forecast period of 2023-2030.

The downfall of manufacturing business in COVID-19 that was caused by closure of the manufacturing plants, supply chain disruption, and fall in customer demand on the new cars, all of which had a great negative impact on the automotive fender industry. The pandemic thus led to a great dip in production and sales, making things worse. The expectation of fall in the sales of the cars led to a decline in demand for car fenders which influenced the whole market. Manufacturing industry's negative impacts have been prolonged which resulted in a slow pace in manufacturing industry recovery.

The automotive fender market growth worldwide is being driven by some crucial factors. Primarily, the consumption of fenders that serve to enhance the vehicle’s front line appearance and safety features is a direct result of the rising number of vehicles globally. On one hand, the progresses in manufacturing technologies, including use of the strong and lightweight materials are enhancing performance of fenders and consequently grabbing the attention of automakers who focus on fuel efficiency. In addition to this, the business area is experiencing development because of the rising popularity of EVs and car personalization. Additionally, the after-market demand is anticipated to grow because of the need for customers to change their chunky fenders frequently due to wear and tear and accidents.

The automotive fender industry is currently marked by some notable trends which are driven on one hand by the consumer demands and on the other hand by the technological progress. Vehicle performance is one the key factors manufacturers consider to stand out and lighter weight materials such as aluminum and composites are widely used instead of traditional steel. More and more advanced production methods are taking over such as automated production with robotics and 3D printing, increasing efficiency and costs. With the overwhelming number of personalization options, the demand is also on the rise that makes the customized cars more and more popular. The sustainability issue is forcing manufacturers to accommodate recyclable and nature kind materials.

Comprehensive Analysis of Automotive Fender Market

The Automotive fender industry is rising at an exponential rate due to its market segmentation. These segmentations are methodically segregated by vehicle type, and by product type. Based on vehicle type, market is divided into passenger car and commercial vehicle. Based on product type, market is divided into metallic and non-metallic.

The Asia Pacific holds leading position in automotive fender market share by benefitting a market size of USD 6.06 billion in 2023. This dominance is brought about by the robust auto manufacturing sector which has both passenger and commercial vehicles. The largest consumers and producers of cars in the world, China, drive the market growth at a much faster pace. Additionally, this area benefits from cheap labor, a multitude of raw materials, and rapidly advancing technology, which, along with the decline in prices and increase in production rates, provide economic gains and improvement.

The top players in the market play a crucial role in the industry assuring industrial prospectus growth and setting market standards. These players include, Thyssenkrupp (Germany), Sungwoo Hitech (China), Plastic Omnium (France), Changchun Engley Automobile Industry (China), HUTCHINSON (Paris), Magna International (Canada), FUTABA INDUSTRIAL CO., LTD. (Japan), Benteler Deutschland (Germany), Guangzhou Lingyue Auto Parts Co., Ltd. (China), Tata AutoComp Systems (India), TONG YANG GROUP (China).

January 2024: With the advent of its next-generation 800V eDrive system, Magna International is putting new benchmarks for torque density, strength-to-weight ratio, and performance.



Segmentation Table

Global Automotive Fender Market Scope

Study Period 2019-2032

Base Year 2023

Estimated Year 2024

Forecast Period 2024-2032

Historical Period 2019-2022

Growth Rate CAGR of 8.7% from 2024 to 2032

Unit Value (USD Billion)

Segmentation

By Vehicle Type

Passenger Car

Commercial Vehicle

By Product Type

Metallic

Non-Metallic

By Region

North America (By Vehicle Type and By Product Type)

- U.S. (By Vehicle Type)

- Canada (By Vehicle Type)

- Mexico (By Vehicle Type)

Europe (By Vehicle Type and By Product Type)

- U.K. (By Vehicle Type)

- Germany (By Vehicle Type)

- France (By Vehicle Type)

- Rest of Europe (By Vehicle Type)

Asia Pacific (By Vehicle Type and By Product Type)

- China (By Vehicle Type)

- India (By Vehicle Type)

- Japan (By Vehicle Type)

- Rest of the Asia Pacific (By Vehicle Type)

Rest of the World (By Vehicle Type and By Product Type)


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