The Europe automotive lightweight car market size is projected to expand at a robust CAGR during the forecast period, 2021–2028. The growth of the market is attributed to increasing usage of high strength steel (AHSS) for mass vehicle reduction.
Automobile lightweight materials have a high strength-to-weight ratio, excellent corrosion resistance, and significant design freedom, making them ideal for use in the manufacturing of automotive systems. Automotive lightweight car makers use plastics, polymer composites, steel, magnesium, and aluminium to meet the evolving requirements of the industry. Mix of alloys and composites, with non-ferrous metals with low density are utilised in the industry. Metal alloys are easy to forge and find useful in numerous applications.
The report on the Europe automotive lightweight car market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Attributes |
Details |
Report Title |
Automotive Lightweight Car Market -Europe Industry Analysis, Growth, Share, Size, Trends, and Forecast |
Base Year |
2020 |
Historic Data |
2018–2019 |
Forecast Period |
2021–2028 |
Segmentation |
Material Types (Metals, Composites, and Plastics), Manufacturing Processes (Extrusion, Stamping, Forging, Casting, and Others), and Applications (Structural, Powertrain, Interior, and Exterior) |
Geographical Scope |
Germany, the UK, France, Italy, Spain, and Rest of Europe |
Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
Key Players Covered in the Report |
ThyssenKrupp AG, Ssab Steel, POSCO, Arcelor Mittal, and AK Steel Holding Corporation |
Based on material types, the market is divided into metals, composites, and plastics. The metals segment is expected to account for a key market share during the forecast period. Advanced High Strength Steel (AHSS) has become an essential material for mass vehicle reduction. The body structure, panels, doors, and trunk closures are all made up of steel, which provides energy absorption and excellent strength in the event of a collision.
In terms of manufacturing processes, the market is segregated into extrusion, stamping, forging, casting, and others. The casting segment is expected to grow at a rapid pace in the coming years. The casting method has several advantages, including operational flexibility, lower cost per part, and high production capacity. The procedure is quite adaptable for mass production, allowing for the rapid development of a large number of castings.
In terms of applications, the market is classified as structural, powertrain, interior, and exterior. The powertrain segment is anticipated to register a substantial CAGR during the forecast period. Powertrain accounts for more than 27% of the vehicle weight. Hence, a huge potential opportunity to deploy lightweight material in the system is driving the segment growth.
Based on geography, the market is segregated into Germany, the UK, France, Italy, Spain, and Rest of Europe. Germany is anticipated to dominate the market owing to presence of major auto manufacturers and adoption of advanced materials in the cars. Moreover, the rapid growth of the electric vehicle (EV) industry is propelling the market growth in the country.
The Europe Automotive Lightweight Car market has been segmented on the basis of
Key players competing in the market include ThyssenKrupp AG, Ssab Steel, POSCO, Arcelor Mittal, and AK Steel Holding Corporation.
Some other reports from this category!