In this study Lightweight Automotive Body Panels Global Market is segmented by Material (Metal, Polymer & Composites, Rubber and Other), Component (Bumpers, Door panel, Roof and Other), Application (Commercial vehicle and Passenger vehicle) and Region.
Lightweight Automotive Body Panels Market Key Players Analyzed in Report are:
Austem Company Ltd (Korea), ArcelorMittal S.A. (Luxembourg), Hwashin Tech Co Ltd (South Korea), BASF SE (Germany), Alcoa Corporation (U.S.), Plastic Omnium (France), Magna International Inc(Canada), ThyssenKrupp AG (Germany), Kuante Auto Parts Manufacture Co. Limited(China).
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Market Research Future published a Cooked research report on “Global Lightweight Automotive Body Panels Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2027.
The report for Global Lightweight Automotive Body Panels Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.
Stringent government regulations to meet fuel emission standards, advancement in technology, increased focus of manufacturers on automotive light weighing vehicles, are some of the factors driving the market of Lightweight Automotive Body Panels. However, high costs associated with light weighting materials are hindering its widespread adoption and this is likely to restrict market growth over the forecast period.
Lightweight Automotive Body Panelss play an important role in improving fuel economy and performance of vehicles by reducing the overall weight of the vehicle. The increase in the development of technology in automotive industry, and the global automotive production along with an increasing focus on light weighting of vehicles, are some of the factors which help in the market growth Lightweight Automotive Body Panels. Manufacturers are mainly focusing on adopting lightweight body panels in vehicles to fulfil government regulations concerning greenhouse gas emissions.
There exists a rapidly rising demand for fuel efficient vehicle in the across the globe. With manufacturers focusing on development of lightweight components for automobiles specifically the increasing usage of carbon fibre and other lightweight material in order to enhance a vehicles fuel efficiency the market for Lightweight Automotive Body Panels is set to witness a steep increase in demand. On the other hand stringent government policies in the form of emission taxes and penalties and overall growing awareness regarding the environment is expected aid the growth of Lightweight Automotive Body Panelss. With manufacturers investing in development of high end lightweight body panel to be integrated in vehicles to reduce overall weight of the vehicle, the market is poised for rapid growth during the forecast period.
Market Segments Analysis:
The market has been segmented based on materials and components. On the basis of materials the market is segmented by metal, polymer & composites, rubber and other. Metal, by material segment is expected to dominate the global Lightweight Automotive Body Panels due to their ability to enhance design freedom and the longer life. On the basis of component, the market includes bumpers, door panel, roof and other. Door Panels component type segment projected to retain its dominance over the forecast period. On the basis of vehicle type, is the market segments are Passenger vehicle and Commercial vehicle. Passenger vehicles accounted for the largest market share of the global Lightweight Automotive Body Panels market. The market is expected to reach a market size of USD 87.3 Billion by the end of the forecast period at CAGR of 3.9%.
Lightweight Automotive Body Panels market in North America is expected to dominate the global market during the forecast period, owing to the presence of major manufacturers such as Ford Motor Company and Fiat Chrysler Automobiles N.V. Lightweight automotive body panel production, stringent regulations to meet fuel emission, are also some factors driving the market towards growth. Moreover, the region follows high automotive safety regulations. The growth in Asia-Pacific automotive lightweight body panel market is forecast due to the rise in production of automobiles and a subsequent rise in the demand for fuel efficient vehicles. Countries such as China, Japan, and South Korea contribute majorly in this market.
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