Lightweight Automotive Body Panels Market: Global Size, Share, Trends, Growth and Forecast 2022-2032
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The lightweight automotive body panels market is anticipated to flourish at a CAGR of 4.5% over the forecast period i.e. 2022-2032.
The lightweight automotive body panels market refers to the market for vehicle body panels made from lightweight materials such as aluminum, carbon fiber, and composites. These materials are used to reduce the weight of vehicles, which can improve fuel efficiency, performance, and handling.
The lightweight automotive body panels market is being driven by a number of factors, including increasingly strict government regulations on fuel economy and emissions, rising consumer demand for more fuel-efficient vehicles, and the growing popularity of electric and hybrid vehicles. In addition, advances in materials science and manufacturing technologies have made it possible to produce lightweight body panels that are durable, strong, and cost-effective.
There are several types of lightweight body panels used in the automotive industry, including hoods, doors, fenders, roofs, and trunks. These panels are typically produced through advanced manufacturing techniques such as stamping, forging, or composite molding.
Growth Drivers – Lightweight Automotive Body Panels Market
Increasing Sale of Automotive Vehicles
Rising production of automotive vehicles is resulting in increased demand for growth of the global lightweight automotive body panels market. Passenger car is showcasing high demand from emerging nations. Further, automotive manufacturers are making significant investment to increase the efficiency of vehicle by decreasing weight of vehicle. This factor is anticipated to strengthen the growth of global lightweight automotive body panels market during the forecast period.
Stringent Government Regulations Regarding Automotive Efficiency
Lightweight body panels play a vital role in enhancing fuel efficiency and overall performance of vehicle. Further, strict government regulations to reduce carbon emissions and fuel efficiency are forcing automotive manufacturers to reduce vehicle weights and switch to lightweight materials. These factors are envisioned to bolster the growth of lightweight automotive body panels market.
Barriers – Lightweight Automotive Body Panels Market
Presence of Local Vendors in Market
Factors such as high cost of lightweight materials is hindering the growth of global lightweight automotive body panels. Moreover, price sensitive nature of consumers in developing nations is also acting as a restraint for global lightweight automotive body panels market.
Segmentation Analysis
The lightweight automotive body panels market by material type is segmented into metal and polymers & composites. The market for metals captured highest percentage in 2019. Moreover, it is anticipated to continue its dominance during the forecast period. In metal segment, high strength steel segment is anticipated to capture largest percentage share of market.
Further, global lightweight automotive body panels market is also segmented by vehicle type into passenger car, light commercial vehicle and heavy commercial vehicle. Passenger car segment captured high market share during the forecast period.
Geographical Analysis
Geographically, the report offers analysis of North America, Europe, Asia Pacific, Latin America and Middle East & Africa. In lightweight automotive body panels market, Asia Pacific accounted for largest percentage of market in global lightweight automotive body panels market. Asia Pacific accounts for highest automotive production region and is continuously witnessing positive growth rates. This factor is anticipated to pave the way for the growth of Asia Pacific lightweight automotive body panels market. Moreover, Asia Pacific lightweight automotive body panels market is anticipated to witness robust growth during the forecast period. Developing nations such as China and India are witnessing high demand for automotive vehicles which in turn, is anticipated to impel the growth of Asia Pacific lightweight automotive body panels market.
Competitive Landscape
The report profiles various major market players such as;
- GORDON AUTO BODY PARTS CO., LTD.
- AUSTEM COMPANY LTD.
- Gestamp
- Plastic Omnium
- Magna International Inc.
- Stick Industry Co., Ltd.
- Changshu Huiyi Mechanical & Electrical Co., Ltd.
- KUANTE AUTO PARTS MANUFACTURE CO., LIMITED
- Hwashim
- FLEX-N-GATE CORPORATION
- Other Key & Niche Players
Competitive landscape analysis provides detailed strategic analysis of the company’s business and performance such as financial information, revenue breakup by segment and by geography, SWOT Analysis, key facts, company overview, business strategy, key product offerings, marketing and distribution strategies, new product development, recent news (acquisition, expansion, technology development, research & development and other market activities).
The study also provides company’s positioning and market share in lightweight automotive body panels market.
Timeline Considered for Analysis:
- 2014 to 2017: Historical Review
- 2019: Base Year
- 2020 to 2025: Forecast Period
Research Scope and Deliverables
Overview & Executive Summary
Market Drivers, Trends, Challenges and Opportunities
Market Size and Forecast Projections
Macroeconomic Indicators of Various Countries Impacting the Growth of the Market
Extensive Coverage of Industry Players including Recent Product Launches and Market Activities
Porter’s Five Force Analysis
Market Segmentation Analysis:
Industry report analyzes the global lightweight automotive body panels market by the following segments:
- Material Type
- Component Type
- Vehicle Type
Customization: We also offers customization’s in the industry report as per the company’s specific needs.
Key Questions Answered in the Global Lightweight Automotive Body Panels Industry Report
- What is the overall market size in 2019? What will be the market growth during the forecast period i.e. 2020-2025?
- Which region would have high demand for product in the upcoming years?
- What are the factors driving the growth of the market?
- Which sub-market will make the most significant contribution to the market?
- What are the market opportunities for existing and entry-level players?
- What are various long-term and short-term strategies adopted by the market players?
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- Publication date: 20th September 2023
- Base year: 2022
- Forecast year: 2023-2033
- Format: PDF, PPT,Word,Excel
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