Sales Revenue of Lightweight Automotive Body Panels is expected to register a CAGR of 4.8% over 2016 – 2026

Automotive body panels, for example, trunk lids, door panels, roof, and bumpers are commonly made of ordinary materials, for example, iron or steel. These body panels add fundamentally to the total automobile body weight. On the other hand, inferable from expanding regulations to lessen outflows alongside expanding the need for fuel economy has pulled in the consideration of OEM producers to diminish the general automobile weight. In this way so as to diminish the body weight of cars, makers are focusing on utilizing body panels which are lighter than customary body panels. These are made of materials with low density, for example, high-strength polymers & composites, aluminum, as well as steel are viewed as lightweight automotive body panels. These panels give the ideal strength to the parts with decreased weight.

These panels help enhance the performance of vehicles and fuel economy by lessening the general load of the vehicle. Around a 25% decrease in the vehicle, weight spares 3.5-5.0 huge amounts of greenhouse gas emissions over the lifetime of a normal vehicle. Producers today are embracing lightweight body panels in vehicles so as to conform to government guidelines relating to greenhouse gas outflows.

Increasing disposable income with developing financial conditions is fueling worldwide car manufacturing. With an expansion in car manufacturing, worries for expanding greenhouse gas outflows are rising comprehensively. So as to handle greenhouse gas outflows, governments all over the world are actualizing stringent guidelines to fulfill fuel emission guidelines. To consent to such stringent guidelines, makers are anticipated to expand their emphasis on automotive lightweighting. Expanding automotive manufacturing alongside an expanding center around light weighting is foreseen to drive market need in the approaching years. On the other hand, significant expenses related to light weighting materials are impeding far reaching implementation and this is probably going to confine market development over the figured time frame.

Based on the material type, the market is fragmented into metals (including aluminum, magnesium and high-strength steel) and polymers & composites (including glass fiber reinforced plastics, carbon fiber reinforced plastics and other polymer & composite materials). Of these, the high-strength Steel material type category will remain dominant in the approaching years. In terms of the component type, the market is categorized into bumpers, door panels, hood, roof, trunk lids, and others. The door panels category will hold its dominance in the approaching years. On the basis of vehicle type, the market is segmented as a heavy commercial vehicle, light commercial vehicle, and passenger car. Among these, the passenger car vehicle type category will hold the foremost market share over the years to come. A few of the market players are channelizing their investments for the employment of cutting edge technologies for product expansion. Definite foremost strategies acquired by market players incorporate investments in research & development initiatives to allow for cost-effective as well as lighter body panels to automakers

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About the Author

Nikhil Kaitwade

With over 8 years of experience in market research and consulting industry, Nikhil has worked on more than 250 research assignments pertaining to chemicals, materials and energy sector. He has worked directly with about 35 reputed companies as lead consultant for plant expansion, product positioning, capacity factor analysis, new market/segment exploration, export market opportunity evaluation and sourcing strategies.

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