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Allied Market Research

Vehicle Light Weighting Technologies Market: Global Opportunity Analysis and Industry Forecast 2020-2027

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Aug 2021 | 713 Views
   
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Vehicle light weighting is an idea in the automobile business about structure vehicles and trucks that are less heavy as an approach to accomplish better fuel efficiency and handling. Carmakers make parts from carbon fibre, windshields from plastic, and bumper out of aluminium foam, as approaches to reduce vehicle load. The use of these materials is selected on the basis of their price, lightweight ability, ultimately, processing or consumption limitations. Advanced lightweight technologies help to improve automotive fuel consumption and guarantee safety and performance.  Usage of lightweight materials reduces emissions by nearly 0.08g CO2/Kg, as with launching of battery electric vehicle, which boosts application of light weighting technology in automotive systems. The adoption of electric vehicles is one of the examples for light weight technologies as parts and system of these vehicles is considerably less than other vehicles.  

Market scope and structure analysis

Report Metric

Details

  Market size available for years

  2019 –2027    

  Base year considered

  2019                   

  Forecast period

  2020–2027                            

  Forecast units

  Billions (USD)

  Segments covered

  Application and Region

  Regions covered

North America (US and Canada), Europe (Germany, UK, France, and Rest of Europe), Asia-Pacific (China, Japan, India, and Rest of Asia-Pacific), and LAMEA (Brazil, South Africa, and rest of LAMEA) 

  Companies covered

Key players involved in market include BASF SE (Germany), Covestro AG (Germany), Toray Industries, Inc. (Japan), ArcelorMittal (Luxembourg), and ThyssenKrupp AG (Germany), 3M, Toyota, General Motors, Tata Steel, Honda Motor Co., Ltd., and DuPont

 

 

Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis

The automotive industry has seen critical changes in material and manufacturing process in the previous decade to conform to the outflow orders. Rules have constrained automakers to discover various options, for example, lightweight materials, improve proficiency in powertrain, and utilization of pure battery electric vehicles. Subsequently, it is simple for lightweight materials to compete in cost when compared with powertrain productivity measures and regulations. Advancements of reinforced and high-quality plastic for its use as windshield and window glass is evaluated to build the light weighting business sector of plastics. The high cost of materials, for example, carbon fibre strengthened composites, titanium, and magnesium hinder the broad utilization of these materials. As crude materials have a high cost, OEMs in developing nations, who rely more upon economy passenger vehicles prefer to use materials than lightweight materials. However, utilization of lightweight materials is expected to increase gradually in the coming years. The manufacturing cost of vehicle parts made of is higher than conventional materials. Along these, high procedure cost can control the development of the car lightweight material market.

New product launches to flourish the market 

Novelis Inc. announced that it is providing the fusion of Toyota Motor Corporation with premium aluminium car body sheet for the all-new Toyota RAV4. The RAV4 is Toyota's number-one-selling vehicle and the top rated non-pickup truck in the nation. With an as good as ever plan that includes Novelis aluminium in the hood, bumpers, and liftgate, the fifth-age model of the RAV4 is 4% lighter than previous models.

Surge in usage in electric vehicles

The introduction of electric vehicles has brought about a technological advancement and revolution in the automotive business. These vehicles have predominant execution than their internal combustion counterparts. Since electric vehicles have low power engines, they utilize lightweight materials that drive the engine's pulling limit. In this manner, the expanding demand for electric vehicles gives a chance to the development of the lightweight material market. As the electric vehicles reduce the car emission to help environment the demand for the electrification of vehicles is also increasing. 

 

Key segments covered:

Segments

Subsegments

  Material type

  • Steel

  • Magnesium

  • Aluminium

  • Plastics

  Application

  • Body in white

  • Chassis & suspension

  • Powertrain

  • Closures

  • Interiors

 

Key benefits of the report:

  • This study presents the analytical depiction of the global Vehicle light weighting technologies market with the 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 the global Vehicle light weighting technologies market.
  • The current market is quantitatively analysed from 2020 to 2027 to highlight the global Vehicle light weighting technologies market growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 
  • The report provides a detailed global vehicle light weighting technologies market analysis based on competitive intensity and how the competition will take shape in coming years. 
 
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