Automotive Side Impact Assembly Market Forecast and CAGR
According to Fact.MR latest report, the automotive side impact assembly market is expected to expand gradually between 2021 and 2031 with CAGR of 3% to 6%. Though due to COVID-19 pandemic the overall sales were hampered and the demand drastically declined during 2020. However, it is estimated that the market will show positive growth from 2021 onwards.
The rising number of people killed in car accidents has prompted the automotive industry to invest in research and development, resulting in the growth of the automotive side impact assembly market.
What is Driving Demand for Automotive Side Impact Assembly?
Automotive side impact assembly are advances in vehicle structural design that help to avoid and reduce crash injury. In the event of an accident, side impact assembly absorb the collision force, resulting in minimal damage to passengers.
The large rise in high-end car purchases, combined with rash and dangerous driving, is leading to an increase in the number of accidents. Currently, sophisticated safety systems are being built into a variety of cars to protect passengers from injury.
All cars in the US must now be fitted with side impact assembly, according to authorities. Similar government regulations are expected to fuel the demand in the coming years in other countries. Automotive side impact assembly are standard in many high-end luxury and premium vehicles around the world.
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Automotive Recovery Likely to Augment Automotive Side Impact Assembly Sales
The COVID-19-induced slowdown has had an effect on automotive sales all over the world. This has had a knock-on impact on sales of vehicle components and materials. Automotive industry will recover over a period of 3-4 financial quarters creating more demand for the side impact assembly. Over the forecast period, the rising attention of companies to reduce vehicle weight without sacrificing the vehicle's performance and safety features is expected to boost the aluminum based automotive side impact assembly.
US and Canada Automotive Side Impact Assembly Demand Outlook
During the forecast period it is projected that the US will remain one of the most profitable markets for automotive side impact assembly. The reason for this is that all cars in the US must now be fitted with side impact assembly, according to authorities. Because of the presence of key original equipment manufacturers of automobiles in the area, North America is projected to hold a significant share of the global market.
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Europe Demand Outlook for Automotive Side Impact Assembly
Due to strict regulations requiring vehicles to be equipped with side-assemblies, Europe is expected to show steady growth in the automotive side impact assembly sales over the forecast period. The COVID-19 crisis has had an adverse effect on many EU countries, resulting in a drop in economic activity.
In recent years, manufacturers have been gradually building a new customer base in the region. Demand is expected to increase as the European automotive sector continues to develop. Government initiatives to boost investment in Europe in order to boost manufacturing will also help the global market expand during the forecast period.
Who are the Key Manufacturers and Suppliers of Automotive Side Impact Assembly?
Some of the leading manufacturers and suppliers include
- KVA Stainless
- Arvin Sango, Inc.
- IFB Automotive Pvt Ltd
- Benteler Automotive Corporation
- H-One Co. ltd
- GNS America
- Aisin Seiki Co., Ltd.
- Kirchhoff Automotive
Companies in the industry intend to acquire and collaborate strategically with end customers and regional distributors to meet the needs of an expanding customer base. To gain a foothold in new and increasingly growing markets, manufacturers use acquisition and regional expansion strategies.
An Adaptive Approach to Modern-day Research Needs
Automotive Side Impact Assembly Market Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company
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By Material Type
- Stainless Steel
- Front side doors
- Rear side door
By Vehicle Type
- Passenger Car
- Commercial Vehicle
- Light Commercial Vehicle
- Heavy Commercial Vehicle
- North America (U.S., Canada)
- Latin America (Mexico, Brazil)
- Europe (Germany, Italy, France, U.K, Spain, Poland, Russia)
- South Asia (India, ASEAN, Rest of South Asia)
- East Asia (China , Japan, South Korea)
- Middle East and Africa (GCC Countries, South Africa, Northern Africa, Rest of MEA)
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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