An Incisive, In-depth Analysis on the Lightweight Automotive Body Panels Market
This study offers a comprehensive, 360 degree analysis on the Lightweight Automotive Body Panels market, bringing to fore insights that can help stakeholders identify the opportunities as well as challenges. It tracks the global Lightweight Automotive Body Panels market across key regions, and offers in-depth commentary and accurate quantitative insights. The study also includes incisive competitive landscape analysis, and provides key recommendations to market players on winning imperatives and successful strategies.
Automotive body panels such as bumpers, roof, door panels, and trunk lids are generally made of conventional materials such as steel or iron. Such body panels contribute significantly to the overall automobile body weight. However, owing to increasing regulations to reduce emissions along with increasing demand for fuel economy has attracted the attention of OEM manufacturers to decrease the overall automobile weight. Thus in order to reduce body weight of automobiles, manufacturers are focussing on using body panels that are lighter than conventional body panels. Body panels made of materials with low density such as high-strength steel, aluminium, and polymers & composites are considered to be lightweight automotive body panels. Such lightweight body panels provide the desired strength for the components with reduced weight.
Global consumption of lightweight automotive body panels was pegged at 9,500 thousand tonnes in 2015. Sales revenue of lightweight automotive body panels is expected to register a CAGR of 4.8% over the forecast period (2016–2026).
Steady recovery in global automotive production along with an increasing focus on lightweighting is driving market demand
Rising disposable income with growing economic conditions is driving global automotive production. With an increase in automotive production, concerns for increasing greenhouse gas emissions is rising globally. In order to tackle greenhouse gas emissions, governments across the globe are implementing stringent regulations to meet fuel emission standards. To comply with such stringent regulations, manufacturers are expected to increase their focus on automotive lightweighting. Increasing automotive production along with an increasing focus on lightweighting is anticipated to drive market demand over the forecast period. However, high costs associated with lightweighting materials are hindering widespread adoption and this is likely to restrict market growth over the forecast period.
By Material Type
By Component Type
By Vehicle Type
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High-strength Steel material type sub-segment projected to remain dominant throughout the forecast period
The High-strength Steel sub-segment is estimated to account for maximum share of 73.5% in the overall market by 2016 end. The Aluminium sub-segment is estimated to account for a significant share of 18.0% by the end of 2016.
Door Panels component type segment projected to retain its dominance over the forecast period
The Door Panels segment is estimated to account for maximum share and is projected to retain its dominance over the forecast period. The Door Panels and Trunk Lids segments are estimated to collectively account for a share of 51.2% in the overall market.
Passenger Car vehicle type segment estimated to account for prominent market share throughout the forecast period
The Passenger Car segment is anticipated to witness the highest CAGR over the forecast period. This segment is estimated to account for 46.9% share of the global lightweight automotive body panels market by 2016 end. The Heavy Commercial Vehicle segment is projected to account for the lowest value share over the forecast period.
APEJ regional market expected to gain maximum market share between 2016 and 2026
APEJ is estimated to account for a major share in global automotive production and is expected to witness higher growth rates in terms of automotive production. The APEJ lightweight automotive body panels market is anticipated to register a CAGR of 6.3% during 2016–2026. The market in North America is estimated to account for 34.1% value share of the global lightweight automotive body panels market by the end of 2016. The higher market value share of the North America market is attributed to the relative higher vehicle production in the region.
Leading market players are focussing on expanding their market presence in emerging markets through joint ventures and collaborations
GORDON AUTO BODY PARTS CO. LTD., AUSTEM COMPANY LTD., Gestamp, Plastic Omnium, Magna International Inc., Stick Industry Co. Ltd., Changshu Huiyi Mechanical & Electrical Co. Ltd., KUANTE AUTO PARTS MANUFACTURE CO. LIMITED, Hwashin, FLEX-N-GATE CORPORATION, and ABC Group, Inc. are some of the leading players operating in the global lightweight automotive body panels market. Some of these companies are directing their investments towards the deployment of advanced technologies for product development.
Future Market Research offers a 10-year forecast for the global lightweight automotive body panels market between 2016 and 2026 in a new report titled “Lightweight Automotive Body Panels Market: Global Industry Analysis and Opportunity Assessment, 2016–2026”. The primary objective of the report is to offer updates and in-depth analysis of market opportunities in the global lightweight automotive body panels market. This report provides market dynamics and trends that influence the current nature and future status of the global lightweight automotive body panels market over the forecast period.
Future Market Insights analyses the global lightweight automotive body panels market in terms of value and volume. The primary objective of the report is to offer updates on developments in the global lightweight automotive body panels market and conduct a quantitative as well as qualitative assessment of the market across various material types, component types, vehicle types, and regional market segments. To understand and assess market opportunities and trends, the report is categorically split into different sections such as market introduction, market analysis scenario, market dynamics, and analysis and forecast by material type, by component type, by vehicle type, and by region. Each section discusses the qualitative and quantitative aspects of the global lightweight automotive body panels market. To give a brief idea about revenue opportunities from various material types, component types, vehicle types, and regions/countries, the report also provides absolute $ opportunity and total incremental opportunity for each segment and region over the forecast period.
The report begins with market introduction and provides market definition followed by a market analysis scenario that provides pricing analysis, supply chain overview, and cost structure analysis. The market dynamics section provides analysis of the drivers, restraints, and key trends influencing the global lightweight automotive body panels market. For market data analysis, the report considers 2015 as the base year, with market numbers estimated for 2016 and a comprehensive forecast made for 2017–2026.
The final section of the global lightweight automotive body panels market report provides profiles of key industry players in order to evaluate their long-term and short-term strategies and recent developments. This section of the report also includes market share analysis of tier-1, tier-2, and tier-3 manufacturers and a dashboard view of key companies operating in the global lightweight automotive body panels market. This section is primarily designed to provide clients with an objective and detailed comparative assessment of key providers specific to a market segment in the global lightweight automotive body panels market.
We have leveraged extensive secondary research to ascertain overall market size and top industry players. To calculate market size, we have considered the average price of lightweight automotive body panels across geographies. The forecast assesses the total revenue as well as volume of the global lightweight automotive body panels market. When developing the market forecast, we have started by sizing the current market, which forms the basis for forecasting how the market is anticipated to take shape in the near future. Given the characteristics of the market, we have triangulated the outcome on the basis of supply and demand side analysis and dynamics of the various regional markets. The report also takes into consideration year-on-year growth to understand the predictability of the market and to identify the right opportunities across the global lightweight automotive body panels market.
Further, the different market segments have been analysed in terms of Basis Point Share (BPS) to understand individual segments’ relative contribution to market growth. This detailed level of information is important for the identification of various key trends governing the global lightweight automotive body panels market. Another key feature of our report is the analysis of the global lightweight automotive body panels market revenue forecast in terms of absolute dollar opportunity, critical in assessing the level of opportunity that a provider can look to achieve, as well as to identify potential resources from a sales perspective in the global lightweight automotive body panels market. Further, to understand key segments in terms of growth and performance in the global lightweight automotive body panels market, Future Market Insights has developed a market attractiveness index to help providers identify existing market opportunities across the global lightweight automotive body panels market.
Lightweight Automotive Body Panels Market Reports - Table of Contents
1. Executive Summary
17. Assumptions and Acronyms Used
18. Research Methodology