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Front-end Module Market Is Expected To Grow Tremendously By 2030 August 20, 2021
By Zaraki Kenpachi -
Front-end Module Market: Introduction According to the report, the global front-end module market is projected to surpass US$ 100 Bn by 2030, expanding at a CAGR of ~4% during the forecast period. The global front-end module market is estimated to shrink during 2020 due to COVID19 and expand at a steady pace post 2021. Asia Paci몭c, Europe, and North America, accounted for a combined share of 96% of the global front-end module market in 2019. Expansion of Front-end Module Market Minimal down payments and attractive EMI o몭ers have made vehicles increasingly a몭ordable. This has fueled the demand for vehicles, leading to increase in their production, thus boosting the front-end module market. Lower labor rates and manufacturing cost in developing countries coupled with growing domestic demand are boosting the front-end module market. The automotive industry in Mexico, Brazil, and India is witnessing rapid expansion, which is projected to drive the global frontend module market. A comprehensive auto-insurance, which covers own vehicle damage in addition to third-party liability, is gaining momentum globally. Accidental cover of own damage is boosting the replacement demand for front-end modules. Increasing replacement demand due to consumer awareness, growing a몭ordability, and own damage cover due to comprehensive insurance policy are estimated to drive the front-end module market globally.