The global automotive brackets market was valued at USD 20 billion in 2022 and is estimated to reach USD 20.68 billion in 2023. Demand for automotive brackets is expected to grow at a CAGR of 5.1% from 2023 to 2033, with the market projected to reach USD 34 billion by 2033. This steady growth is driven by the rising demand for durable, lightweight, and efficient components that support the structural integrity and performance of modern vehicles.
The Automotive Brackets Market is expected to witness significant growth as automakers increasingly prioritize lightweight, durable, and versatile components that enhance vehicle performance and efficiency. Automotive brackets, essential for supporting and securing various vehicle parts, contribute to the structural integrity and overall functionality of vehicles. The demand for advanced bracket solutions is being driven by technological innovations, the shift toward lightweight materials, and increased use of hybrid and electric vehicle (EV) architectures.
Key players are focusing on materials like high-strength steel, aluminum, and composites to produce brackets that are not only resilient but also reduce vehicle weight, contributing to fuel efficiency and reduced emissions. Additionally, the growing adoption of electric and hybrid vehicles has introduced new requirements for specialized brackets that can accommodate the distinct configurations and components of modern EV powertrains.
In-Depth Market Analysis: A Complete Report
Key Takeaways:
- Demand for Lightweight and High-Strength Materials: The shift towards lightweight materials such as aluminum and composites in automotive brackets aligns with the industry’s focus on fuel efficiency and emissions reduction.
- Growing Application in Electric and Hybrid Vehicles: With the rise of electric and hybrid vehicles, manufacturers are developing specialized brackets tailored to unique EV components and battery configurations, driving new market opportunities.
- Advances in Cost-Effective Manufacturing Techniques: Innovations in manufacturing processes, such as stamping and injection molding, are enabling cost-efficient production of durable and precise brackets.
- Enhanced Vehicle Performance and Safety: Automotive brackets play a crucial role in ensuring vehicle stability, safety, and durability by securely mounting essential components, supporting optimal vehicle performance.
- Increased Focus on Aftermarket Demand: The aftermarket for automotive brackets is expanding, with consumers seeking replacement components that meet original equipment standards for long-term reliability and durability.
Who are the Key Manufacturers of Automotive Brackets?
Some of the leading manufacturers and suppliers include
- Allena Group
- Toyo Tires
- MISUMI Corporation
- Cooper-Standard Holdings Inc.
- Hangzhou Ekko Auto Parts Co., Ltd
- Aztec Manufacturing
- Hancock Industrial Ltd
- Sumitomo Riko Company Ltd
- Yamashita Rubber Co., Ltd
- Nissin Kogyo Co., Ltd
- ACE International
- Xiamen Woricha Auto Parts Co. Ltd.
Key Segments of Automotive Brackets Market
By Application:
- Engines
- Bumpers
- Suspension
- Footrest
- Headlight
- Wheels
- Others
By Product Type:
- Passive Elastomeric Bracket
- Hydraulic Bracket
- Active Engine Bracket
By Vehicle Type:
- Passenger car
- Compact
- Mid-size
- SUV
- Luxury
- Commercial Vehicle
- Heavy Commercial Vehicles (HCV)
- Light Commercial Vehicles (LCV)
By Sales Channel:
- Original Equipment Manufacturers
- Aftermarket
By Region:
- North America (USA, Canada)
- Europe (Germany, Italy, France, United Kingdom, Spain, BENELUX, Russia, Nordics)
- East Asia (China, Japan, South Korea)
- South Asia & Pacific (India, ASEAN Countries, Oceania)
- Latin America (Brazil, Mexico)
- Middle East and Africa (GCC Countries, Turkey, Northern Africa, South Africa)
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-347-918-3531
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube
