The trend of Front End Module (FEM) modularization is gaining traction, as modularization helps OEMs save on cost, time, and manpower during the manufacturing process. Previously, each and every component of the FEM was assembled by OEMs on the assembly line; this was time-consuming and extended the production process of the vehicle. However, the advent of modularization has enabled OEMs to save on these costs and opt for outsourcing these functions. OEMs save around 20 to 30% of costs through modularization, in comparison with the traditional front-end methods.
The Light Vehicle Front End Modules industry is highly concentrated, the top three manufactures accounting for more than 30% in Europe, and have a rapid growth to North America, Asia and other regions.
The worldwide market for Light Vehicle Front End Modules is expected to grow at a CAGR of roughly 8.7% over the next five years, will reach 10400 million US$ in 2024, from 6850 million US$ in 2019.
Global Light Vehicle Front End Modules Market report features the major aspect of the market in terms of historic data, current market situations, market demand along with detailed analysis of the key players involved in the market.Light Vehicle Front End Modules Industry report also provides essential attributes associated with Light Vehicle Front End Modules market and act an essential tool to companies active across the value chain and to the newcomer by enabling them to capitalize the opportunities and develop business strategies.
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Global Light Vehicle Front End Modules Market focuses on the, especially in North America, Europe and Asia-Pacific, South America, Middle East and Africa.Light Vehicle Front End Modules business report categorizes the market based on manufacturers, regions, type and application. From a global perspective, this report represents Light Vehicle Front End Modules market in-depth outlook by analyzing historical statistics and future prospect.
TOP MOST PLAYERS:
Market Segment by Type, covers:
Market Segment by Applications, can be divided into:
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