“Global Lightweight Automotive Body Panels Market” is the title of a research report produced by MarketResearch.biz It delivers in-depth insights on the market such as revenue details of global, regional, country, and segment revenues, historical as well as projected revenues. The global lightweight automotive body panels market report has been segmented on the basis of material, component, vehicle type and region.
As fuel additives prices rise and environmental concerns increase, there is a growing demand for vehicles that are more fuel-efficient. Lightweight body panels can help to reduce the overall weight of a vehicle and improve its fuel efficiency.
A recent trend shows that manufacturers are primarily focusing on lightweight body panels for vehicles so as to adhere to stringent government regulations related to reduction of greenhouse gas emissions and to enhance vehicle fuel efficiency. Stringent government policies and regulations in the form of emission taxes and penalties, and overall growing awareness regarding the need to not pollute the environment is expected aid growth of the lightweight body panels market. However, high costs associated with lightweighting materials can be expected to hamper market growth to a minimal extent over the next 10 years.
Lightweight body panels are essential in improving fuel economy, and this happened by reducing vehicle weight, which in all truth, will improve vehicle performance and enhance fuel economy. Technological advancements, increasing production output in terms of number of vehicle units, along with increasing focus on reducing overall vehicle weight are among some other factors driving market growth. Lightweight panels are changing the automotive market, and while enabling vehicle weight reduction, provide the desired strength required for components.
Automotive body panels such as bumpers, hoods, door panels, roofs, and trunk lids are manufactured using lightweight materials such as high-strength steel, aluminium, composites, and polymers in order to provide desired strength with reduced weight. Lightweight automotive body panels help to improve fuel economy as well as performance of vehicles by reducing the overall weight. Even the minimum vehicle weight reduced will result in a noticeable improvement in fuel economy. Doing away with parts or components manufactured from cast iron and other iron and steel materials and using parts that have been manufactured from more lightweight materials is capable of directly reducing vehicle body and chassis weight by around half the original weight.
The global lightweight automotive body panels market is segmented region-wise into North America, Europe, Asia Pacific, Latin America, Middle East & Africa. The market in Asia Pacific accounts for a major share of the global automotive body panels market currently due to high adoption rate, the introduction of fuel economy standards, EPA Tier-3 norms for light-duty vehicles, especially in developing economies in the region. Another major factor is that industrialization is further expanding in countries in the region and advancements in technology in the automotive industry is expected to support market growth.
Global Lightweight Automotive Body Panels Market Segmentation:
Segmentation on the basis of material
- Polymers & Composites
Segmentation on the basis of component
- Door panel
Segmentation on the basis of vehicle type
- Commercial vehicle
- Passenger vehicle
Segmentation on the basis of region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size USD 123 Billion Growth Rate 5.51% Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- Gestamp Automoción
- ArcelorMittal S.A.
- BASF SE
- Plastic Omnium
- Magna International Inc.
- ThyssenKrupp AG
- Kuante Auto Parts Manufacture Co. Limited
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