Global Vehicle Lightweighting Market By Material (Aluminum, Carbon Fibre, Magnesium, Plastics, Composites, Steel, Others), Application (Body & Exterior, Chasis, Interior, Powertrain, Driveline & Fuel Systems), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa) – Industry Trends and Forecast to 2026
Market Analysis: Global Vehicle Lightweighting Market
Global Vehicle Lightweighting Market is expected to witness a moderate CAGR in the forecast period of 2019-2026. The report contains data from the base year of 2018, and the historic year of 2017. This rise in market value can be attributed to growth in demand for fuel-efficient and lightweight high-performance vehicles.
Market Definition: Global Vehicle Lightweighting Market
Vehicle lightweighting is the process of replacing heavy-weight materials present in the vehicles with the light-weight similar characteristics materials, without compensating on the durability, and the strength of the vehicle. This process requires careful consideration and design analysis to identify and replace the right components from the right places with the appropriate materials.
- Increased focus on the demand for providing lightweight vehicles resulting in advanced fuel efficiency and overall performance of the vehicle; this factor is expected to act as a driver for the market growth
- Various levels of complications associated with the usage and integration of different materials such as appropriate application of the materials in the right places, high cost of some materials; these factors are expected to act as a restraint to the market growth
Segmentation: Global Vehicle Lightweighting Market
- By Material
- Carbon Fibre
- By Application
- Body & Exterior
- Doors & Front-End Modules
- Suspension & Braking Components
- Driveline & Fuel Systems
- Body & Exterior
- By Geography
- North America
- South America
- Rest of South America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Saudi Arabia
- United Arab Emirates
- Rest of Middle East & Africa
- North America
Key Developments in the Market:
- In March 2018, CHASSIX announced that they had completed the acquisition of Benteler International’s lightweight aluminum low pressure automotive casting division. With this acquisition, CHASSIX will be able to expand their product offerings and significantly enhance their service capabilities in the European region.
- In September 2017, Magna International Inc. announced that they are expanding their capacity for aluminum casting in Alabama, Unites States facility. This expansion will help the vehicle manufacturers to fulfil their need for lightweight materials required for vehicle lightweighting.
Competitive Analysis: Global Vehicle Lightweighting Market
Global vehicle lightweighting market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of vehicle lightweighting market for global, Europe, North America, Asia Pacific, South America and Middle East & Africa.
Key Market Competitors: Global Vehicle Lightweighting Market
Few of the major competitors currently working in the vehicle lightweighting market 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.
Research Methodology: Global Vehicle Lightweighting Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request an Analyst Call or can drop down your inquiry.
The key research methodology used by DBMR Research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Key Insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key market players involved in this industry
- Detailed analysis of the market segmentation
- Competitive analysis of the key players involved