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The automotive cross car beam market size is estimated to grow at a CAGR of 3.47% between 2023 and 2028. The market size is forecast to increase by USD 547.92 million. The growth of the market depends on several factors such as the increased adoption of SUVs by consumers, the enhanced safety offered by cross car beams, and the rising sales of luxury vehicles.
This automotive cross car beam market report extensively covers market segmentation by distribution channel (OEM and aftermarket), type (SUV or MPV, hatchback, and sedan), and geography (APAC, Europe, North America, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2018-2022.
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Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
One of the key factors driving the automotive cross car beam market growth is the enhanced safety offered by cross car beams. Side-impact car crashes, also referred to as T-bone accidents, include at least one vehicle that is impacted on the side. Additionally, in most T-bone crashes, vehicles are compressed from the side, which may lead to fatal or serious injuries to occupants.
Moreover, T-bone crashes account for about one-fourth of the global fatal injuries occurring on roads. Therefore, cross-car beams enhance the safety of occupants by absorbing the impact energy of a side crash, reducing steering wheel dislocation, lowering passenger compartment vibrations, and providing better control and strength to the steering wheel. Furthermore, they are designed to support the vehicle steering column, instrumental panel, HVAC system, airbags, and the entire dashboard. Hence, the enhanced safety offered by cross car beams is expected to drive the growth of the global automotive cross car beam market during the forecast period.
A key factor shaping the automotive cross car beam market growth is the manufacturers' shift toward alternative raw materials and product designs. Automotive component manufacturers are intensively emphasizing on curbing the overall weight of vehicles and associated components without compromising strength and operability. In addition, manufacturers are emphasizing the use of alternative lightweight composites in the manufacturing process to cater to such demands and are designing and producing high-performance vehicle components within a specific weight constraint.
For example, Faurecia SA is working on the development of cross car beams that comprise a composite of glass fiber and carbon fiber. Furthermore, stringent emission norms implemented at an international level are encouraging manufacturers to focus on the adoption of advanced lightweight materials such as plastic, acrylonitrile butadiene styrene (ABS), and carbon fiber. Hence, such factors drive the market growth during the forecast period.
Fluctuations in raw material prices of raw materials are one of the key challenges hindering the automotive cross car beam market growth. Cross-car beams are generally manufactured from steel, aluminum, or magnesium, which have witnessed significant price volatility in the last decade. In addition, the price volatility of these raw materials is attributed to increased taxes and duties, implementation of additional tariffs, and production outages in metal ore-producing countries. As a result, this affects the entire supply chain as the final product has to pass through different stages of development.
Therefore, such scenarios have encouraged manufacturers to procure raw materials in advance to keep the price and product mix at controllable levels. In addition, raw material costs account for a major share of the total revenue of manufacturers. Hence, any unanticipated fluctuation in raw material prices puts pressure on automotive cross car beam manufacturers as it can affect their overall profit margins. Therefore, such factors hinder the market growth during the forecast period.
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Automotive Cross Car Beam Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Aludyne Inc: The company offers automotive cross car beam by casting, design and engineering, machining, and assembly processes. The company uses magnesium for manufacturing beams.
The research report also includes detailed analyses of the competitive landscape of the market and information about 11 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The OEM segment is estimated to witness significant growth during the forecast period. The original equipment manufacturer (OEM) segment in the global automotive cross car beam market refers to the producers of automotive cross car beams. The need for automotive cross car beams is fuelled by the ongoing expansion of the global automobile industry. In addition, automobile manufacturers look to OEMs for high-quality automotive cross-car beams to help them achieve their goals of improving the performance, safety, and comfort of their vehicles.
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The OEM segment was the largest segment and was valued at USD 2,286.83 million in 2018. Moreover, factors such as expanding vehicle production, stricter government rules governing vehicle safety and emissions, and rising consumer trends of lighter vehicles are signficantly contributing to the growth of this segment. In addition, the development of the OEM industry has also been aided by developments in cross car beam technologies, such as the use of lightweight materials. Furthermore, automotive manufacturers work with OEMs to integrate cutting-edge cross car beam systems into their cars, improving ride quality and vehicle dynamics. Hence, the ongoing expansion of the automobile industry and advancements in cross car beam technology are expected to fuel the growth of this segment which in turn will drive the market growth during the forecast period.
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APAC is estimated to contribute 56% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. One of the main factors that is significantly contributing to the growth of the market in APAC is the improving socioeconomic conditions in the region, especially in countries such as China and India. In addition, a large middle-class consumer base with an increasing per capita income as well as ease of availing financing services has been fueling the demand for passenger cars in APAC.
Moreover, the availability of low-cost land and labor, ease of transportation, and supportive government policies in the manufacturing sector have encouraged several manufacturers of vehicles and associated components to establish facilities in the region. Furthermore, EVs are witnessing a prominent demand in APAC, which is primarily attributed to government policies encouraging the development of EV charging infrastructure. Hence, such factors drive the market growth in APAC during the forecast period.
In 2020, during the COVID-19 pandemic, the growth of the global automotive cross car beam market witnessed a significant slowdown due to the halt in automotive production fuelled by the prevailing restrictions on trade between China and a few other countries, such as the US. However, in 2021, the initiation of large-scale vaccination drives lifted the lockdown and travel restrictions, which led to the restoration of operations in the automotive industries. Such factors are expected to drive the market during the forecast period.
The automotive cross car beam market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028.
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Automotive Cross Car Beam Market Scope |
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Report Coverage |
Details |
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Page number |
156 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 3.47% |
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Market Growth 2024-2028 |
USD 547.92 million |
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Market structure |
Concentrated |
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YoY growth 2023-2024(%) |
3.34 |
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Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
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Performing market contribution |
APAC at 56% |
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Key countries |
US, China, India, Japan, and Germany |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Aludyne Inc., CIE Automotive SA, ElringKlinger AG, Faurecia SE, Georg Fischer Corp., GESTAMP AUTOMOCION SA, Hwashin Co. Ltd., KIRCHHOFF Group, MBB SE, Multimatic Inc., and Shiloh Industries LLC |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Distribution Channel
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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