Global Vehicle Lightweighting Market, By Component (Frames, Wheels, Bumpers and Fenders, Engines and Exhausts, Fuel Tanks, Transmissions, Doors, Hood and Trunk Lid, Seats, Instrument Panels), Material (Metals, Composites, Plastics, Elastomer), Application (Body in White, Chassis and Suspension, Powertrains, Closures, Interiors, Others), Vehicle (PC, LCV, HCV), Electric and Hybrid Vehicle (BEV, HEV, PHEV, Truck, Bus), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
Market Analysis and Insights : Global Vehicle Lightweighting Market
The vehicle lightweighting market is expected to witness market growth at a rate of 8.5% in the forecast period of 2021 to 2028. Data Bridge Market Research report on vehicle lightweighting market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecast period while providing their impacts on the market’s growth. The growing government initiatives for vehicle weight reduction are escalating the growth of vehicle lightweighting market.
Vehicle lightweighting refers to a process of replacing heavy-weight materials present in the vehicles with the light-weight similar characteristics materials. The process does not compensate on the durability and the strength of the vehicle. Lightweighting requires careful consideration and design analysis for identifying and replacing the right components from the right places with the appropriate materials.
The rise in demand for lightweight material from the automotive industry, the increasing emphasis on fuel economy and the high need for innovative materials to help reduce vehicle weight and achieve fuel efficiency and carbon emission targets are the major factors driving the vehicle lightweighting market. The surge in the fuel costs and distance traveled, increasing need for fuel efficiency and high manufacturing of lightweight vehicles to reduce CO2 emissions because of the implementation of stringent regulations caused by exhaust emissions accelerates the vehicle lightweighting market growth. The inclination towards composite materials over steel or aluminum for cost efficiency of these highly automated production cycles that are known to reduce vehicle weight and the changes over products and manufacturing procedures to meet the emission criteria influence the vehicle lightweighting market. Additionally, expansion of automotive industry, stringent emission and fuel economy regulations, high production and sales of automobile vehicles and surge in disposable income of people positively affect the vehicle lightweighting market. Furthermore, upward trend of vehicle electrification and emerging economies extends profitable opportunities to the vehicle lightweighting market players in the forecast period of 2021 to 2028.
On the other hand, high cost associated with the material including carbon fiber and glass composites, and processes are factors expected to obstruct the vehicle lightweighting market growth. The concerns regarding the maintenance of lightweight material are projected to challenge the vehicle lightweighting market in the forecast period of 2021 to 2028.
This vehicle lightweighting market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on vehicle lightweighting market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Vehicle Lightweighting Market Scope and Market Size
The vehicle lightweighting market is segmented on the basis of component, material, application, vehicle and electric and hybrid vehicle. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target markets.
On the basis of component, the vehicle lightweighting market is segmented into frames, wheels, bumpers and fenders, engines and exhausts, fuel tanks, transmissions, doors, hood and trunk lid, seats and instrument panels. Metals are further segmented into HSS, aluminum, magnesium and titanium. Composites are further segmented into CFRP, GFRP, NFRP and others. Plastics are further segmented into PC, ABS, PA, PP, PU and others. Elastomers are further segmented into EPDMm NR, SBR and others.
- On the basis of material, the vehicle lightweighting market is segmented into metals, composites, plastics and elastomer.
- On the basis of application, the vehicle lightweighting market is segmented into body in white, chassis and suspension, powertrain s, closures, interiors and others.
- On the basis of vehicle, the vehicle lightweighting market is segmented into PC, LCV and HCV.
- On the basis of electric and hybrid vehicle, the vehicle lightweighting market is segmented into BEV, HEV, PHEV, truck and bus.
Global Vehicle Lightweighting Market Country Level Analysis
The vehicle lightweighting market is analyzed and market size, volume information is provided by country, component, material, application, vehicle and electric and hybrid vehicle as referenced above.
The countries covered in the globally vehicle lightweighting market report are the U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Asia-Pacific dominates the vehicle lightweighting market because of the growth of the automotive industry and high demand from automotive lightweight technologies. North America is expected to witness significant growth during the forecast period of 2021 to 2028 because of the implementation of new standards and requirements to lower fuel emissions and reduce greenhouse gases emissions, high sales of electric vehicles and growth in awareness of CO2 emissions in the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Vehicle Lightweighting Market Share Analysis
The vehicle lightweighting market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to vehicle lightweighting market.
The major players covered in the vehicle lightweighting market report are The Dow Chemical Company, Arconic, Aleris Corporation, 3M, Trelleborg AB, Samvardhana Motherson Group, Faurecia, Magna International Inc., ZF Friedrichshafen AG, Fiat Chrysler Automobiles, Benteler International, CHASSIX, GF Casting Solutions, Freudenberg Group, General Motors, BASF SE, Asahi Kasei Corporation, ContiTech AG and Evonik Industries AG among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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