Press release
Europe Automotive Lightweight Car Market 2021-2026 skyrocketed revenue with key players ThyssenKrupp AG, Arcelor Mittal, AK Steel Holding Corporation
Latest research on Europe Automotive Lightweight Car Market report covers forecast and analysis on a worldwide, regional and country level. The study provides historical information of 2016-2021 together with a forecast from 2021 to 2026 supported by both volume and revenue (USD million). The entire study covers the key drivers and restraints for the Europe Automotive Lightweight Car market. This report included a special section on the Impact of COVID19. Also, Europe Automotive Lightweight Car Market (By major Key Players, By Types, By Applications, and Leading Regions) Segment’s outlook, Business assessment, Competition scenario and Trends. The report also gives 360-degree overview of the competitive landscape of the Europe Automotive Lightweight Car industry.Europe Automotive Lightweight Car market is growing at a CAGR of 9.7% during the forecast period (2021-2026).
The Europe Automotive Lightweight Car market is highly competitive and consists of a number of major players. Top Companies like ThyssenKrupp AG, Arcelor Mittal, AK Steel Holding Corporation., Baoshan Iron and Steel Co. Ltd., Posco, SSAB AB, Toyota Motors, General Motors
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Regional Analysis:
Furthermore, to broaden the understanding, researchers have studied the global Europe Automotive Lightweight Car market from a geographical point of view, considering the potential regions and countries. The regional analysis will assist the market players in making sound decisions regarding their future investments.
Europe Automotive Lightweight Car Market report includes the following geographic areas such as North America, Europe, China, Japan, Southeast Asia, India and ROW.
Industry News And Developments:
BMW partnered with German carbon fiber producer SGL Group and spent ~USD 1 billion for securing the supply chain for CFRP used in the production of i3 and i8. Apart from BMW, another German automobile manufacturer Audi has also been using CFRP to produce the space frame's rear wall for its A8 luxury sedan. This part provides ~40% of the vehicle's overall torsional rigidity, making it a suitable material for the usage in the car. The part is ~50% lighter in weight than its metallic predecessor.
Scope of the Report
- The ideal materials for lightweight cars in this market include aluminum, high strength steel, and magnesium. With the enactment of stringent emission norms and fuel economy standards in the European region, the region's automobile manufacturers have started using carbon fiber composites in the manufacturing of their vehicles.
- With the emergence of electric vehicles and an increasing ban on diesel vehicles' production of gasoline and diesel engines, the fossil fuel-run automotive industry's growth may face negative growth. However, lightweight car materials will remain a driving factor due to its application in an alternative fuel vehicle market.
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Key Market Trends
Continuous Evolution in automotive AHSS technology
There is a demand for reducing the weight to enhance vehicle performance and safety. As a result, Advanced High Strength Steel (AHSS), an essential material for mass vehicle reduction, and has become one of the fastest-growing material in today's automotive industry.
Steel makes up around 70 % of an average automobile's weight. Compared to standard steel, AHSS enable to reduce vehicle weight by 23-35% which is around 165 to 250 kg, for a regular passenger car, saving 3 - 4.5 tons of greenhouse gases over the vehicle's total life cycle. This saving in emissions is much more substantial than the CO2 emitted during the complete production of steel needed in a car.
The steel composition involves 34% as the body structure, panels, doors, and trunk closures, giving it an energy absorption and high-strength in case of a crash. 23% is the engine and machinable carbon steel for the wear-resistant gears. 12% is used in the suspension, using rolled high-strength steel and the remainder in the wheels, tires, fuel tank, steering, and braking systems.
Germany will lead the European lightweight car industry.
In 2016, 195 parties within the United Nations Framework Convention on Climate Change signed the Paris Agreement deal to extend its ongoing efforts. The primary idea is to keep the global temperature increase below 2C and within. In 2017, the Europe record greenhouse gas emissions of 4.5 Gt CO2 eq. As a result, the EU became the main of the significant contributors to GHGs.
Many German companies are experimenting with new composites that can reduce the vehicle's total weight to a great extent. The application of carbon-fiber-reinforced plastic (CFRP) has been widely adopted to produce automotive bodies, particularly in German manufactured cars, such as BMW and Audi.
Germany is also one of the largest manufacturers of lightweight vehicles. With the market for lightweight vehicles in development, various initiatives within Germany are driving the technological advancements. As per, regulatory framework (Euro 6 norms), there is a growing motivation for a low-carbon economy by 2050.
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What are the market factors that are explained in the report?
–Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.
–Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.
–Analytical Tools: Europe Automotive Lightweight Car Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, feasibility study, and investment return analysis have been used to analyzed the growth of the key players operating in the market.
The research includes historic data from 2015 to 2020 and forecasts until 2026 which makes the reports an invaluable resource for industry executives, marketing, sales and product managers, consultants, analysts, and other people looking for key industry data in readily accessible documents with clearly presented tables and graphs.
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