Big Opportunities of Lightweight Automotive Body Panels Market : Global Industry Analysis and Opportunity Assessment, 2016-2026
Press Release – 21
Jan 2019
Research
and Development News
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Latest
Update
"Lightweight Automotive Body Panels Market: Passenger Car
Vehicle Type Segment Anticipated to Hold Prominent Market Share
Through 2026: Global Industry Analysis and Opportunity Assessment,
2016-2026"
with Industries Survey | Global Current Growth and Future.
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Automotive body panels such as bumpers, roof, door
panels, and trunk lids are generally made of conventional materials
such as steel or iron. Such body panels contribute significantly to
the overall automobile body weight. However, owing to increasing
regulations to reduce emissions along with increasing demand for fuel
economy has attracted the attention of OEM manufacturers to decrease
the overall automobile weight. Thus in order to reduce body weight of
automobiles, manufacturers are focussing on using body panels that
are lighter than conventional body panels. Body panels made of
materials with low density such as high-strength steel, aluminium,
and polymers & composites are considered to be lightweight
automotive body panels. Such lightweight body panels provide the
desired strength for the components with reduced weight.
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Global
consumption of lightweight automotive body panels was pegged at 9,500
thousand tonnes in 2015. Sales revenue of lightweight automotive body
panels is expected to register a CAGR of 4.8% over the forecast
period (20162026).
“Steady recovery in global automotive
production along with an increasing focus on lightweighting is
driving market demand”
Rising disposable income with growing economic
conditions is driving global automotive production. With an increase
in automotive production, concerns for increasing greenhouse gas
emissions is rising globally. In order to tackle greenhouse gas
emissions, governments across the globe are implementing stringent
regulations to meet fuel emission standards. To comply with such
stringent regulations, manufacturers are expected to increase their
focus on automotive lightweighting. Increasing automotive production
along with an increasing focus on lightweighting is anticipated to
drive market demand over the forecast period. However, high costs
associated with lightweighting materials are hindering widespread
adoption and this is likely to restrict market growth over the
forecast period.
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“High-strength
Steel material type sub-segment projected to remain dominant
throughout the forecast period”
The High-strength Steel sub-segment is estimated
to account for maximum share of 73.5% in the overall market by 2016
end. The Aluminium sub-segment is estimated to account for a
significant share of 18.0% by the end of 2016.
“Door Panels component type segment
projected to retain its dominance over the forecast period”
The Door Panels segment is estimated to account
for maximum share and is projected to retain its dominance over the
forecast period. The Door Panels and Trunk Lids segments are
estimated to collectively account for a share of 51.2% in the overall
market.
“Passenger Car vehicle type segment
estimated to account for prominent market share throughout the
forecast period”
The Passenger Car segment is anticipated to
witness the highest CAGR over the forecast period. This segment is
estimated to account for 46.9% share of the global lightweight
automotive body panels market by 2016 end. The Heavy Commercial
Vehicle segment is projected to account for the lowest value share
over the forecast period.
“APEJ regional market expected to gain
maximum market share between 2016 and 2026”
APEJ is estimated to account for a major share in
global automotive production and is expected to witness higher growth
rates in terms of automotive production. The APEJ lightweight
automotive body panels market is anticipated to register a CAGR of
6.3% during 20162026. The market in North America is estimated to
account for 34.1% value share of the global lightweight automotive
body panels market by the end of 2016. The higher market value share
of the North America market is attributed to the relative higher
vehicle production in the region.
“Leading market players are focussing on
expanding their market presence in emerging markets through joint
ventures and collaborations”
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, Hwashin, FLEX-N-GATE
CORPORATION, and ABC Group, Inc. are some of the leading players
operating in the global lightweight automotive body panels market.
Some of these companies are directing their investments towards the
deployment of advanced technologies for product development.
Continue.....
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