The global automotive bonnet market is expected to expand at a substantial CAGR during forecast period, between 2020 and 2027. The growth of the market is attributed to automotive safety, introduction of safety features with automotive bonnet, implementation strict government rules on vehicle safety, and increasing vehicle standards to decrease the accident rate.
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Automotive bonnet lessens shock to the pedestrian’s head if the vehicle collides with a pedestrian. The bonnets use energy absorption tools in the front-end of the automobile. In case of a frontal accident, when the grille strikes a pedestrian's knees, the energy gripping tool mitigates the seriousness of the injuries. The bonnet system uses a stiffening support, which is located at the bottom of the bumper. This is designed to avoid the pedestrian's leg from getting under the vehicle. The structure of the bonnet is explicitly designed to decrease the injury to the pedestrian during an accident. Automotive bonnet is designed to lessens the injury to the pedestrians’ knees in case of accident.
Market Trends, Drivers, Restraints, and Opportunities:
Automakers are focusing on improving the safety in the vehicles, owing to increasing number of accidents. An automotive bonnet is a safety element installed in an automobile, which decreases the risk of severe injury to a pedestrian in case of collision. Implementation of strict government norms and increasing vehicle standards to decrease the fatality rate caused by collisions are driving the automotive bonnet market. Increasing number of vehicles and rising adoption of automotive bonnets in automobile are driving the market. Technological development and improved appearance of vehicles after installing automotive bonnet are projected to drive the market during the forecast period. Inaccuracy of bonnet and low-speed effectiveness of bonnet expected to hinder the market growth. The high maintenance cost of automotive bonnet and less awareness about the advantages of the automotive bonnet are expected to restrain the market. Less adoption of new technology in developing region is projected to hampers the growth of the market. Increasing vehicle safety concern and rising sales of vehicles have fueled the requirement for safety programs to make the rating criteria strict. The rating criteria comprises installation of safety features such as anti-theft systems, curtain airbags, drunk driver detection system, driver fatigue monitoring systems, and active bonnet system. Manufacturers are investing a large part of their revenue in R&D to offer safe and comfortable vehicles to their customers, which is a major trend that is projected to create opportunities in the global automotive bonnet market during the forecast period.
Automotive Bonnet Market Segment Insights:
Based on components, the automotive bonnet market can be divided into active hinge systems, electronic control unit, and bumper sensors. The electronic control unit segment is projected to dominate the global automotive bonnet market during the forecast period owing to its advanced features such as updating the user about speed control in case of pedestrian accident.
In terms of applications, the market can be segregated into sedan, hatchback, SUV, and crossover, and others. The sedan segment is projected to dominate the global market during the forecast period. Growing sales of luxury sedans, which affixed with bonnets is driving the segment growth. Additionally, long bonnet design of sedans, which improves the probability of pedestrian impacts fuels segment growth.
On the basis of sales channels, the automotive bonnet market can be categorized as OEMs and aftermarket. The OEMs segment is projected to dominate the global market during the forecast period, owing to its focus on installing safety system in vehicles.
Based on regions, the global automotive bonnet market can be classified as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific is expected to dominant the global automotive bonnet market due to major sales of automotive in the region. Growth in the number of automotive manufacturing companies and entry of international automaker in the developing region are driving the automotive bonnet market in the country during the forecast period. Increasing awareness and rising implementation of strict rules by regulating bodies for safety and to decrease accident in the region are impacting to market growth. Additionally, increasing manufacturing of passenger vehicles in Asia Pacific and speedy expansion of the automotive industry in the developing region are expected to drive the market. OEMs are preparing to expand their production volume, as people in Asia Pacific are accepting advanced technology.
Competitive Analysis
Key players in the global automotive bonnet market include Volvo Car Corporation, Volkswagen AG, TORAY INDUSTRIES, INC., Tesla, Suzuki Motor of America, Inc., Mercedes-Benz USA, LLC, Mazda Motor Corporation, KIA Motors, JAGUAR LAND ROVER AUTOMOTIVE PLC, Groupe Renault, General Motors, Daimler AG, BMW AG, Audi of America, and ALFAROMEO. These players are involved in strategies such as mergers & acquisitions, partnerships, collaborations, and product launches. For instance, in 2019 Tesla acquired Maxwell Technologies. In 2018, General Motors launched a collision repair network to safeguard customer safety and product reliability. The sales of Kia motors are increasing rapidly owing to the addition of bonnet in its vehicles.
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GEODIS today announced that it has appointed Jürgen Adler as the head of the automotive market, one of the strategic vertical markets in which GEODIS is seeking to expand.Jürgen Adler, age 43, is a German national and holds a degree in Transport and Logistics from the University of Bonn.
He has more than 25 years experience in the logistics and transport sector of the automotive industry.Speaking several languages, he has worked on five continents, principally in Germany, France, China and the United States.His aim will be to address the specific expectations of the sector, which is currently facing significant structural changes as well as ongoing supply chain disruptions, in a sector where “just-in-time” is a standard.
