The Global Light Weight Body Panel Market size complete detail on the assessment of the impact of COVID 19 on the light weight body panel market is presented in the report. As per latest MRFR study, the Light Weight Body Panel global market is expected to thrive at an exponential CAGR in the years to come. The market value of light weight body panels is expected to escalate in the forecast period 2016 -2027.
The enforcement of stringent government norms for emission and advancements in technology to curb vehicular emissions can benefit the worldwide market of automotive light weight body panel in the years to come. The growing focus of car makers on automotive light weighing vehicles can significantly impact the Light weight body panels market. The high costs associated the production of light weight body panels due to their expensive raw materials can hinder the expansion of the market through the forecast period.
Light Weight Body Panel Market Segmentation
The segment analysis of the Global Light Weight Body Panel Market is done by material, application, and comment.
The Material based segments of the light weight body panel are Polymer & Composites, Metal, and Rubber among Other. The increase in polymer and composites applications can impel the expansion of the light weight body panel in the years to come.
The Component based segments of the light weight body panel are Door panel, Bumpers, and Roof among Others. The door panel can win high profits for the market in the analysis period.
The Application based segments of the light weight body panel are Passenger vehicle and Commercial vehicle. The commercial segment can earn high revenue for the market in the near future.
Light Weight Body Panel Market: Regional Analysis
Trends of the light weight body panel is studied across North America, EU, APAC, and the Rest of the World. The expansion of the automotive light weight body panel market across North America due to the existence of top-notch car manufacturers, such as Fiat Chrysler Automobiles and Ford Motor Company. In addition, the existence of stringent regulations can fuel the regional market growth. In Asia Pacific, the automotive lightweight body panel market rise can be attributed to the high production of efficient and luxurious vehicles. The growing need for fuel efficient vehicle across India and other developing areas of APAC can impel the regional market expansion. Manufacturers focusing on innovations of lightweight components for effective automobiles solutions to increase the application of carbon fibre and related lightweight material to deliver fuel efficient solutions can promote the expansion of the Light Weight Body Panel market in the years to come.
On the other hand, the need to comply with stringent government policies can also impact the expansion of APAC Light Weight Body Panels market. With rise in count of manufacturers invested in the development of high end solutions of lightweight body panel can also impact the market in the years to come. The rise in need curb overall weight of vehicles is poised for high rise of the market.
Key Players
ArcelorMittal S.A. (Luxembourg), Austem Company Ltd (Korea), Plastic Omnium (France), Hwashin Tech Co Ltd (South Korea), Alcoa Corporation (U.S.), BASF SE (Germany), Magna International Inc (Canada), Kuante Auto Parts Manufacture Co. Limited(China), and ThyssenKrupp AG (Germany) are some prominent players functioning in the Light Weight Body Panel global Market as listed by MRFR.
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