360 Research Reports offers the latest published report on “Global Lightweight Car Market – Growth, Trends, and Forecast (2019 – 2023)” delivering key insights and providing a competitive advantage to clients through a detailed report.
Global Lightweight Car Market 2019-2023 considers the past, current and future state of the industry while encapsulating modest landscape analysis, manufacturers, marketing strategies, industry effect factor analysis. An unbiased and detailed analysis of the on-going trends, opportunities/ high growth areas has been included to help stakeholders to device and align Lightweight Car market strategies according to the current and future market. All enterprise profiles of the main players and brands are shown in this research. The report presents the drivers and restrictions of the market that have been explained by SWOT analysis.
Lightweight Car Market Segmentation by Major Players:
BMW, Ford, Audi, Lanxess, Daimler, Kia
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Overview of Lightweight Car Market Report:
Next-generation cars are expected to possess several features, such as connected cars, smart technology, fuel efficiency, and light weight. During the e-car hype ending 2011, one of the major focus areas was the weight of the car. However, while there is a consistent demand for integration of decreased weight in new launches, over the succeeding years, car manufacturers have been lessening the focus on integrating a decrease in weight of cars in new products. The global lightweight car market is expected to grow at a CAGR close to 4.9% during the forecast period.
Currently, the market for lightweight vehicles is primarily driven by regulatory authorities pushing for fuel efficiency. The EU has devised a roadmap for moving to a competitive low-carbon economy by 2050. Furthermore, North America is driven by the increasingly strict fuel economy standards of the US CAFE requirements, which are also being adopted by Canada and Mexico.
High pressure from automotive regulatory authorities, increased global demand, and decreasing cost of materials through strong research and innovation are some of the drivers of the global lightweight cars market. However, high costs of materials like carbon fiber, ongoing research on material mix leading to market non-readiness of this affordable material, and decreasing focus on the weight of vehicles since 2011 form the bottlenecks for this industry.
The notion of light-weighting in the auto industry is beyond the weight of cars and trucks. Since it takes less energy to accelerate a lighter object than a heavier one, one way to achieve better fuel efficiency and handling is by lessening the overall weight of the vehicle. Carmakers primary focus is on lessening the vehicle load and use different lightweight materials for automotive applications in making the parts, for example, carbon fiber for the chassis, plastic for windshields, and aluminum foam for bumpers, etc. The other consideration while building these lightweight cars is to not lose out on the overall safety.
The ideal materials for lightweight cars include aluminum, high-strength steel, and magnesium, which have a high strength-to-weight ratio. In the luxury segment, carbon fiber cars, like the ones produced by BMW, are no longer expensive and are increasingly being used in mass car production. The most popular material currently is material-mix, an innovative mix of materials to enable affordability of lightweight cars. The recent Global Automotive Lightweight Materials Initiative (GALM) has boosted the research and popularity of this material mix. Another method of decreasing the weight of cars is through downsizing engines.
The weight of a car depends on its curb-weight or the mass of the vehicle, including the mass of added components like refrigeration, passengers or cargo, transmission and motor oil, etc. Explaining the relationship between the vehicle weight and fuel usage, Energy.gov mentioned that a 10% reduction in vehicle weight could result in a 6-8% fuel economy improvement.
The proliferation of lightweight cars is low but is estimated to increase as awareness and demand increases. In fact, one of the most important drivers of lightweight cars in the market is its demand concerning the ideal automobile that, according to a report, should include the components of increased efficiency, green fuel, and finally, lightweight materials under the umbrella term smart-efficiency. The report segments the market by region, energy source, and car type.
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Important factors that are mentioned in the Lightweight Car Market report 2023…
Key Market Dynamics: The Global Lightweight Car Market research report provides complete forecasts on the latest market trends, development methods, and research methodologies. Some of the factors that are directly in affecting the market including the Strategic Production and Methods, development platforms, and the product model itself, and even a minute change within the product profile would result in a huge amount of changes within the mentioned factors. All of these factors are explained in detail in the research study.
Major Growth Prospects: The report also focuses on some of the Key growth prediction, including new product launches, Mergers and Acquisitions, Research and Development, joint ventures, collaborations, agreements, partnerships, and growth of the key Manufacturers working effectively in the market, both in terms of regional and global scale depending on geography.
Key Market Highlights: The report gives us an in-depth Market analysis on some of the Lightweight Car Market key factors, including revenue, cost, capacity, capacity utilization rate, production, production rate, consumption, supply, demand, Market share, CAGR, and gross margin. Additionally, the report presents a comprehensive study of the market growth factors and their latest trends, along with related Market sections and subsections.
Potential Customers: The Lightweight Car Market report provides significant insights to readers, service providers, suppliers, distributors, manufacturers, stakeholders, and individuals who are interested in evaluation and self-studying the Lightweight Car market.