Global Automotive Lightweighting Market Trends, Application and Regional Forecast to 2022-2027
Bharat Book Bureau Provides the Trending Market Research Report on “Automotive Light weighting Market by Material (Metals, Composites, Plastics, Elastomers), Application & Component (Frame, Engine, Exhaust, Transmission, Closure, Interior), Vehicle (ICE, Electric, Micro-mobility & UAVs) and Region - Global Forecast to 2027” under Automotive Market Research Report Category. The report offers a collection of superior Market research, Market analysis, competitive intelligence and Market reports.
The Automotive Lightweighting Market is projected to grow from USD 73.9 billion in 2022 to USD 101.5 billion by 2027, at a CAGR of 6.5% for the projected period. The key growth factor driving the automotive light weighting market is the lowered emission limits in new emission regulations, increased fuel efficiency limits, and increased vehicle weight. In developing countries like India, the governing body has implemented Bharat VI norms since 2020, Europe has Euro VI, and China has VI standards. With such emission regulations, which have highly reduced emission limits, OEMs are using lightweight materials to reduce the extra weight added to the after-treatment devices.
Replacing cast iron and traditional steel components with high-strength steel (HSS), magnesium (Mg) alloys, aluminum (Al) alloys, carbon fiber, and polymer composites can directly reduce the curb weight of the vehicle body, which reduces the vehicle's fuel consumption. For instance, in 2019, the Hyundai Motors World Rally Teams incorporated a wide usage of lightweight CFRP in its rally spec i-20 model and its RM15 concept that featured an aluminum spaceframe and CFRP body panels, which resulted in an overall weight reduction of 195 Kg. And in 2020, Chevrolet Corvette Stingray incorporated an engine bracket – made from high-performance aluminum alloy material (HuCrAlloy) - that weighs less than 1.5 pounds and underwent a 40% mass reduction. Thus, it is evident that incorporating lightweight materials to achieve the norms and regulations set by the governing bodies will drive the lightweight market globally.
“HEV segment is speculated to drive the electric vehicle lightweighting market.”
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Last Update : Mar 24, 2023 1:47 PM
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