Global Vehicle Lightweighting Technologies Market Size study & Forecast, by High Strength Materials (Steel, Aluminum, Magnesium, Others) by Vehicle Type (Commercial Vehicles, Passenger Cars), and Regional Analysis, 2022-2029

Global Vehicle Lightweighting Technologies Market Size study & Forecast, by High Strength Materials (Steel, Aluminum, Magnesium, Others) by Vehicle Type (Commercial Vehicles, Passenger Cars), and Regional Analysis, 2022-2029

Global Vehicle Lightweighting Technologies Market is valued at approximately USD XX billion in 2021 and is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2022-2029. Lightweighting technology in automotive id introduced reduces vehicle weight. The weight of a car is decreased by replacing its spare parts with lightweight components. One of the key goals of lightweight engineering for the automotive industry is this. The utilization of aluminum has been improved, which has assisted automakers in achieving average corporate fuel efficiency norms. Currently, larger, and more powerful electric vehicles are among the biggest consumers of lightweight technology. The vehicle and engine are shrunk using various lightweight technologies as needed. Sometimes, carbon fibres are employed to lighten the vehicle. The High Strength Materials of carbon fibre can be expensive. Layering and treating carbon fibres carefully and precisely are necessary. Automobile drive shafts, aero plane wings, and other high strength materials are made of carbon. The Vehicle Lightweighting Technologies market is expanding because of factors such as rise in fuel efficiency demand and stringent government regulation.

Automobile manufacturers are concentrating on making lightweight automobiles to reduce CO2 emissions due to strict emissions restrictions brought on by increased exhaust emissions. One gramme of CO2 is thought to be saved every kilometer for every 10 kg of weight lost. The average fuel economy standard in the United States must reach 54.5 miles per gallon by 2025, according to the laws. According to the US Department of Energy (DOE), a 10% decrease in the vehicle's weight might result in an improvement in fuel efficiency of 6-8%. Thus, the rising demand for fuel efficiency is catering for market growth. In addition, the development of advanced and affordable electric and autonomous vehicles is creating lucrative growth in the market. However, the high cost of vehicle lightweighting technologies may halt market growth.

The key regions considered for the Global Vehicle Lightweighting Technologies Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America dominated the market in terms of revenue, owing to the dominance of branded High Strength Materialss and stringent government regulation. Whereas Europe is expected to grow with the highest CAGR during the forecast period, owing to factors such as the rising automotive industry, an increase in the number of collaborations for technological development, geographic expansion of key players, active participation of government and nonprofit organizations in the market space.

Major market player included in this report are:
3M Co.
Adient Plc
Aisin Corporation
Aptiv Plc
Arconic Gmbh
Basf Corp.
Benteler Automotive India Pvt Ltd
BMW Group
Borgwarner Inc.
Brose Fahrzeugteile Gmbh & Co.KG

Recent Developments in the Market:
In May 2019, Thermoplastic Polyurethane (TPU) and a plastics intensification facility were built by BASF SE at the company's planned coordinated synthetic High Strength Materials site in Zhanjiang, China.

Global Vehicle Lightweighting Technologies Market Report Scope:
Historical Data 2019-2020-2021
Base Year for Estimation 2021
Forecast period 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered High Strength Materials, Vehicle Type, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and High Strength Materials offerings of key players.

The detailed segments and sub-segment of the market are explained below:

By High Strength Materials:
Steel
Aluminum
Magnesium
Others

By Vehicle Type:
Commercial Vehicles
Passenger Cars

By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
RoLA
Rest of the World

Companies Mentioned

3M Co.
Adient Plc
Aisin Corporation
Aptiv Plc
Arconic Gmbh
Basf Corp.
Benteler Automotive India Pvt Ltd
BMW Group
Borgwarner Inc.
Brose Fahrzeugteile Gmbh & Co.KG

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