The global vehicle lightweighting technologies market size is poised to reach around US$ 260 Bn by 2026 and growing at a CAGR of around 14% in terms of value during the forecast period 2019 – 2026.
Vehicle lightweight technology is known as a process useful for design and production of vehicles. In this way, components and appliances that weight less than traditional equipment are integrated.
High strength steel, composits, titanium, engineered plastics and polymers and natural products are the components that are being used for lightweighting. The use of these materials is selected on the basis of their price, lightweight ability and, ultimately, processing or consumption limitations.
The report provides analysis of global Vehicle lightweighting technologies market for the period 2015-2026, wherein 2019 to 2026 is the forecast period and 2018 is considered as the base year.
The rise in fuel efficiency demand is anticipated to boost competition in the projected years for lightweight technologies. The auto manufacturer’s strong emphasis on increasing the usability of their commodity role is expected to further improve lightweight materials. The increasing number of competitors in the automotive industry is expected to stimulate the growth of the vehicle lightweight technologies market in near future.
The introduction of any lightweighting technologies lowers vehicle weight. The substitution of a car's spare parts with light-weight materials reduces the vehicle's weight. This is one of the main purposes of lightweight engineering for auto sector. Enhancing the use of aluminum has helped automotive manufacturers meet the standards of average business fuel economy. Bigger and higher-electric cars are currently among the largest consumers of lightweight technology. They use various lightweighting technology (as required) to downsize the vehicle and downsize the engine. Carbon fibers are sometimes used to decrease the vehicle's weight. Carbon fiber is a laborious and at times expensive procedure. Carbon fibers require careful processes of layering and processing with high precision. Carbons are used in the manufacture of aircraft wings, car drive shafts, bike frames, propelling wheels, etc.
Pros of Vehicle Lightweight Technologies
The physically larger as well as higher-powered cars use lightweighting technologies to reduce energy and weight to save fuel. Use lightweights, like plastics, the engine load can be reduced and consequently gas milage increased. It also provides better handling.
Because of its qualities, carbon fiber is in high demand in numerous auto-associated industries. Commercial companies such as airlines use carbon fiber daily. Carbon fiber also provides high rigidity & resilience, strong resistance to degradation, thermal & electrical conductivity, chemical tolerance and durability of X-rays.
Vehicle lightweight have allowed vehicles to work smoothly with smaller and lighter motors. The smaller and lighter suspension elements also make the vehicle quicker with its lightweight body structure. The structural weight can be further reduced with lighter engines and smaller secondary structures.
An overal weight reduction of almost 7 percent is likely to result from a 30 percent reduction in vehicle body-in-white (BIW) mass. Compounded secondary weight savings add-on effects will lead to an overall decrease of 13.5%. In the automobile industry, the fuel economy is expected to increase by 7% for every 10% decrease in vehicle weight.
The market research study on “Vehicle lightweighting technologies Market (Vehicle Lightweighting Technologies Market By High Strength Materials: Steel, Aluminum, Magnesium, Others; Vehicle lightweighting technologies Market By Vehicle Type: Commercial Vehicles, Passenger Cars) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 - 2026) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 - 2026” offers a detailed insights on the global vehicle lightweighting technologies market entailing insights on its different market segments. Market dynamics with drivers, restraints and opportunities with their impact are provided in the report. The report also provides competitive landscape to understand the current stance of particular player. The report provides insights on global vehicle lightweighting technologies market, its high strength materials, vehicle type, and major geographic regions. The report covers global vehicle lightweighting technologies market size, and segment markets by high strength materials, vehicle type, and geography along with the information on companies operating in the market. The vehicle lightweighting technologies market analysis is provided for major regional markets including North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. For each region, the market size for different segments has been covered under the scope of report.
The global vehicle lightweighting technologies market is segmented as below:
Vehicle Lightweighting Technologies Market By High Strength Materials
Vehicle Lightweighting Technologies Market By Vehicle Type
Vehicle Lightweighting Technologies Market By Geography
Middle East & Africa
Key Players and Market Situation
The number of players in the Vehicle lightweighting technologies market around the world is increasing steadily. Participants include major global players such as 3M, BASF, General Motors, Toyota, and others.
Vehicle lightweight technology is known as a process useful for design and production of vehicles.
High strength steel, composits, titanium, engineered plastics and polymers and natural products are the components which are being used for lightweighting.
According to Acumen Research and Consulting, the vehicle lightweighting technologies market size is expected to be worth around US$ 260 billion in 2026.
The vehicle lightweighting technologies market is anticipated to grow over 14% CAGR during the forecast period 2019 to 2026.
The increasing number of competitors in the automotive industry is expected to stimulate the growth of the vehicle lightweight technologies market in near future.
UK, Germany, France, Spain and Rest of Europe are the countries in Europe region.
The vehicle lightweight technologies market key players are 3M, BASF, General Motors, Toyota, and others.