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Light Weight Automotive Body Panels Market by Vehicle Type (Passenger Car, Light Commercial Vehicle and Heavy Commercial Vehicle), Material Type (Metals, Polymers & Composites, Magnesium, Glass Fibers, Reinforced Plastics and High Strength Steel), and Component Type (Bumpers, Hood, Door Panels, Trunk Lids and Others): Global Opportunity Analysis and Industry Forecast, 2020–2027
| A08781 | Pages: NA | Jun 2021 | 364 Views | | |
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COVID-19
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The lightweight automotive body panel market deals with automobile-based body panels, including door panels, roofs, bumper, lids, etc. These panels are made up of most conventional sources, such as iron and steel, which contribute to the overall automotive weight. Due to increase inrules ®ulations of fuel emission and weight of automobile, manufacturers are working toward using dynamic materials to reduce the weight of the panels that were made from conventional products. Lightweight body panels provide overall strength with reduced weight. Low density panels are usually made from aluminum, polymers, and composites. In addition, the global consumption of lightweight automotive body panels has been estimated to grow in near future.
Market scope and structure analysis:
Report Metric | Details |
Market size available for years | 2020–2027 |
Base year considered | 2019 |
Forecast period | 2021–2027 |
Forecast unit | Value (USD) |
Segments covered | Vehicle Type,Material Type, and Component Type |
Regions covered | North America (the U.S. and Canada), Europe (Germany, the UK, France, and rest of Europe), Asia-Pacific (China, Japan, India, and rest of Asia-Pacific), Latin America (Brazil, Mexico, and rest of LATAM), and the Middle East and Africa |
Companies covered | Gordon Auto Body Parts Co. Ltd., Gestamp, Plastic Omnium, Magna International Inc., Stick Industry Co. Ltd., Chasngshu Huiyi Mechanical and Electric Co. Ltd., Hwashim, FLEX-N-GATE Corporation, and KUNTE AUTO PARTS MANUFACTURE Co. Ltd. |
COVID-19 scenario analysis:
- COVID-19 has rapidly affected the sale of automotive industries, thus hampering the growthof the lightweight automotive body panel market.
- Earlier,this market was expected to register a significant growth in 2021, but due to Covid-19, the market is expected to decline in the near future as COVID-19 affected all businesses.
- Sales play a major role in the vehicle sector and industries are facing a slower production due to lockdown and low demand.This is expected toeventually decrease the sales among top companies.
- Due to no demand,many of these companies havestopped their production and will not resume their work until the situation becomes stable.
Top impacting factors: Market scenario analysis, trends, drivers, and impact analysis
Increase in demand &sale of automobiles and government initiatives to control pollutionare responsible for the growth of the lightweight automotive body panel market.Moreover, existence of local vendors and price-sensitive customers hampers the growth of the market. Furthermore, increase in disposable income of people and government initiatives toward eco-friendly environment provides lucrative opportunitiesfor the lightweight automotive body panel market.
Increase indemand and sale of automobiles
There is increase in demand for mobility solutions among disable people to find easy way for mobility to complete their routine task. Such vehicles provide easy mobility to them,thereby propelling the growth of the lightweight automotive body panel market.
Government initiatives to control pollution
With increase in population, demand for automobiles is increasing frequently, which leads to increase in pollution and emission of harmful gases.Heavyweight material in vehicle emits more polluting gases and governmentsare taking initiatives to use light material in vehicles to reduce emission of gases.Therefore, this leads to the growth of the lightweight automotive body panel market.
Key segments covered:
Segments | Sub-segments |
Material Type |
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Component Type |
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Vehicle Type |
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Key benefits of the report:
- This study presents the analytical depiction of the light weight automotive body panel’s market along with current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of light weight automotive body panel’s market share.
- The current market is analyzed from 2020 to 2027 to highlight the market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed light weight automotive body panel’s market analysis based on competitive intensity and how the competition will take shape in coming years.
Questions answered in thelight weight automotive body panel’s marketresearch report:
- Which are the leading market players active in the market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities of the market?
- What are the projections for the future that would help in taking further strategic steps?
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