Global Lightweight Automotive Body Panels Market to Witness Robust Expansion by 2028

The global lightweight automotive body panels market is anticipated to grow at a significant CAGR of 4.1%during the forecast period (2022-2028). The lightweight automotive body panel market includes door panels, roofs, bumpers, lids, and other vehicle-based body panels. These panels are made of the most common materials, such as iron and steel, which add to the overall weight of the vehicle. Due to an increase in rules and regulations on fuel emission and weight of the automobile, manufacturers are working toward using dynamic materials to reduce the weight of the panels that were made from conventional products. Body panels made of lightweight materials give overall strength while reducing weight. Aluminium, plastics, and composites are commonly used to create low-density panels.

The increased demand for automotive body panels as a result of their widespread use in automobiles is projected to be a major factor driving the market during the forecast period. Increased production of automotive body panels with advanced technology by lowering weight and delivering lightweight body panels, which reduce vehicle weight and efficiency, is also expected to drive the automotive body panels market. Automotive body panels have a number of advantages, including dependability, ease of maintenance, and accessibility in any location. Lightweight body panels are changing the dynamics of the automotive body panels industry by providing appropriate strength for components while reducing weight. The vehicle body panels market is likely to benefit from this.

Asia-Pacific holds the major share in the global automotive body panels market, particularly in developing economies, due to a high acceptance rate, the implementation of fuel economy rules, and EPA Tier-3 norms for light-duty cars. Another key factor is that the countries in the region are getting more industrialized, which means that technological advancements in the vehicle industry will certainly lead to a market growth.

Market Coverage

• The market number available for – 2021-2028
• Base year- 2021
• Forecast period- 2022-2028
• Segment Covered-
  • By Vehicle Type
  • By Material Type
  • By Component
• Regions Covered-
  • North America
  • Europe
  • Asia-Pacific
  • Rest of the World
• Competitive Landscape-Gordon Auto Body Parts Co. Ltd., Gestamp, Plastic Omnium, Magna International Inc., and Stick Industry Co. Ltd., among others.

Key questions addressed by the report

• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• How has COVID-19 impacted the market?
  • Deviation from the pre-COVID-19 forecast
  • Most affected region and segment
• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?

Global Lightweight Automotive Body Panels Market Report by Segment

By Vehicle Type

• Passenger Vehicle
• Light Commercial Vehicle
• Heavy Commercial Vehicle

By Material Type

• Metals
• Polymers & Composites
• Magnesium
• Glass Fibers
• Reinforced Plastics
• High Strength Steel

By Component

• Bumpers
• Hood
• Door Panels
• Trunk Lids
• Others