Press release
Vehicle Lightweighting Market Size, Demand, Growth, Trends, Segmentation And Forecasts Research To 2027
The Global Vehicle Lightweighting Market 2021 by Regions, Type, and Application, forecast to 2027 research report is a comprehensive, methodical, and all-encompassing examination of the industry. The study's goal is to help key vendors, organisations, and end-users in the industry better grasp the benefits and complete features of market segments. It examines market dynamics and gives an overview to aid in the definition, categorization, and statistical analysis of markets. The present condition of the worldwide Vehicle Lightweighting market, as well as its future prospects.In accordance with the Vehicle Lightweighting market is set to grow at a CAGR of 8.6% over the forecast period (2021-2027).
The report's authors used a unique and industry-leading research and analysis technique to conduct an in-depth analysis of the worldwide Vehicle Lightweighting market. From 2021 through 2027, this study anticipates demand, trends, and revenue growth at regional and country levels, as well as an examination of industry trends in each of the sub-segments.
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In the worldwide market, there are a number of important and rising Vehicle Lightweighting market Key players:
BASF, Arconic, Aleris Corporation, 3M, Benteler International, GF Casting Solutions, Freudenberg Group,Coverstro, LyondellBasell Industries, Toray Industries, ArcelorMittal, Novelis
Recent Developments
In May 2019, BASF SE plans to build engineering plastics compounding plant and a Thermoplastic Polyurethane (TPU) plant at the company’s proposed integrated chemical production (“Verbund”) site in Zhanjiang, China.
In January 2019, Toray Industries, Inc. announced that it held the opening ceremony of Automotive Center Europe (AMCEU), established in the suburbs of Munich, Germany, on January 25, 2019, with guests representing the government of the state of Bavaria, automobile manufacturers, and Tier 1 automotive suppliers. The facility will serve as a technological development base of Toray Group to expand its Green Innovation (GR) Business in Europe. Toray’s GR business is at the forefront of environmental restrictions, by leveraging the Group’s highly functional materials as well as its cutting-edge technologies for automobiles.
In March 2018, LyondellBasell showcased its latest materials to advance surfaces at the Plastics in Automotive Engineering technical conference, which was organized by the Association of German Engineers (VDI) in Mannheim, Germany.
In April 2019, Novelis Inc. announced it is supplying Toyota Motor Corporation with premium aluminum automotive body sheet for the all-new 2019 Toyota RAV4. The RAV4 is Toyota's number-one-selling vehicle and the best-selling non-pickup truck in the country. With a new and improved design that includes Novelis aluminum in the hood, fenders, and liftgate, the fifth-generation model of the RAV4 is 4% lighter than previous models.
In November 2018, ArcelorMittal completed the transaction to acquire Ilva S.p.A. and launched ArcelorMittal Italia. Following the completion of the transaction, ArcelorMittal assumed the full management control of Ilva, forming a new business cluster within ArcelorMittal Europe - Flat Products and be known as ArcelorMittal Italia.
Market segment by Type, covers:
Aluminum
Carbon Fibre
Magnesium
Plastics
Composites
Steel
Other
The application covered in the report include:
Body & Exterior
Chassis
Interior
Powertrain
Driveline & Fuel Systems
Market Overview:
The global Vehicle Lightweighting market is projected to grow from USD 69.7 billion in 2020 to USD 99.3 billion by 2025, at a CAGR during the forecast period. The increasing stringency of vehicle emission and fuel economy regulations and growing government initiatives for vehicle weight reduction are expected to drive the growth of the Vehicle Lightweighting market.
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Europe is expected to account for the largest market size during the forecast period
COVID-19 has resulted in a decline in vehicle production, thereby affecting the overall Vehicle Lightweighting market. However, a projected steady recovery by Q1-Q2 of 2021 in vehicle production will support the growth of the Vehicle Lightweighting market in the coming years. Europe is projected to hold the largest market share by 2025. The implementation of Euro 6 norms, which are followed by the members of the European Union, will have a knock-on effect of reducing pollutants such as nitrogen oxide and carbon monoxide. It will also compel OEMs to improve fuel economy and lower CO2 emission levels. Also, lightweight manufacturers and suppliers are investing heavily in R&D to create new and advanced lightweight materials. With the increasing demand for vehicles, Europe is expected to remain the largest Vehicle Lightweighting market during the forecast period.
Regional Outlook:
This research report focuses on Vehicle Lightweighting market volume and value at regional Opportunity and company Trends From a global perspective, this report Study represents the overall market size by analyzing historical data and future prospects. Regionally, this report focuses on several key regions: Americas, Europe, Asia-Pacific, Middle East & Africa, and ROW.
Europe would enjoy the second spot where several factors like automation and better technical inclusion and Scope. The Asia Pacific region has better prospects in growing with a high CAGR in the coming years as the regional market would witness several changes in the infrastructure.
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Table of Contents: Vehicle Lightweighting Market
Chapter 1: Global Vehicle Lightweighting Market Overview
Chapter 2: Economic Impact on Industry
Chapter 3: Vehicle LightweightingMarket Competition by Manufacturers
Chapter 4: Production, Revenue (Value) by Region
Chapter 5: Supply (Production), Consumption, Export, Import by Regions
Chapter 6: Production, Revenue (Value), Price Trend by Type
Chapter 7: Vehicle Lightweighting Market Analysis by Application
Chapter 8: Manufacturing Cost Analysis
Chapter 9: Industrial Chain, Sourcing Strategy and Downstream Buyers
Chapter 10: Marketing Strategy Analysis, Distributors/Traders
Chapter 11: Vehicle Lightweighting Market Effect Factors Analysis
Chapter 12: Research Conclusions of Global Vehicle Lightweighting Market
Impact of COVID-19:
The COVID-19 epidemic has impacted markets and customer behaviour in a short period of time, and it is having a significant influence on economies and society. With offices, educational institutions, and manufacturing facilities closed indefinitely, big sports and events postponed, and work-from-home and social distance rules in place, businesses are increasingly seeking technology to assist them to get through these trying times. The COVID-19 epidemic is wreaking havoc on companies all around the world.
Report Customization:
The Global Vehicle Lightweighting Market report may be modified to meet your specific business needs. Because we understand what our clients want, we provide 25% customization for any of our MID reports at no additional cost to all of our clients.
About Us:
Market intelligence data is a global front-runner in the research industry, offering contextual and data-driven research services to customers. Customers are supported in creating business plans and attaining long-term success in their respective marketplaces by the organization. The industry provides consulting services, Market Intelligence Data research studies, and customized research reports.
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Irfan Tamboli (Head of Sales) – MARKET INTELLIGENCE DATA
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