Automotive Lightweighting Market by Material Type, Application, Vehicle Type, End-Use

Description

List of Tables

[187 Pages Report] The Automotive Lightweighting Market size was estimated at USD 78.37 billion in 2023 and expected to reach USD 83.03 billion in 2024, at a CAGR 6.24% to reach USD 119.79 billion by 2030.

Automotive lightweighting refers to the process of reducing the weight of vehicles through the use of lighter materials and innovative design techniques. The core objective of lightweighting is to enhance vehicle performance, boost fuel efficiency, and lower emissions while maintaining safety and comfort standards. Lightweight materials such as aluminum, high-strength steel, magnesium, and composites are often used in place of traditional, heavier materials. Stringent government regulations focused on emissions and fuel efficiency, rising fuel costs driving demand for more economical vehicles, and technological advancements in material science influence the automotive lightweighting market's growth. However, the high cost of advanced materials, including carbon fiber, technical difficulties in incorporating new materials into existing manufacturing processes, and vehicle performance metrics, and supply chain vulnerabilities pose significant challenges for market expansion. Despite these challenges, the development of advanced materials, including graphene-reinforced composites, the integration of 3D printing techniques for lightweight component production, and the adoption of recyclable and sustainable materials contributing to a circular economy present new growth avenues.

KEY MARKET STATISTICS
Base Year [2023]	USD 78.37 billion
Estimated Year [2024]	USD 83.03 billion
Forecast Year [2030]	USD 119.79 billion
CAGR (%)	6.24%

Regional Insights

In the Americas, the automotive lightweighting market is experiencing steady growth, with stringent government regulations on fuel efficiency and emissions driving automakers to adopt lightweight materials. Additionally, rising consumer demand for vehicles that offer better fuel economy and performance is encouraging manufacturers to focus on lightweighting technologies. The presence of major automotive manufacturers and a growing electric vehicle (EV) market further support this trend in the region. The EMEA region is also seeing significant progress in automotive lightweighting. Europe, in particular, is showcasing rapid growth due to strict environmental regulations and an established automotive industry. The push for low-emission vehicles and sustainability initiatives are key drivers in this region. In the Middle East and Africa, the market is developing at a slower pace but is gradually catching up due to increased investment in automotive technology and infrastructure development. The APAC region is witnessing rapid advancements in automotive lightweighting, driven by expanding automotive industry, coupled with heightened environmental awareness and government policies promoting fuel-efficient vehicles. The region's strong manufacturing base and technological innovation capabilities are also major contributors to this growth. Moreover, the rising middle class and increasing vehicle ownership further boost the demand for lightweight vehicles.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the Automotive Lightweighting Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers
- Growing innovations in automotive manufacturing industry to meet demand of fuel efficient passenger vehicles
- Rising demand for light composite materials owing to stringent pollution control norms, and enhanced passenger safety

Market Restraints
- Complex raw composite assembling and processing methods

Market Opportunities
- Growing investment in development of advanced and affordable electric and autonomous vehicle
- Ongoing research and development activities in novel composite materials for eco friendly vehicles

Market Challenges
- High cost of lightweight material and supply chain difficulties

Market Segmentation Analysis
- Material Type: Growing adoption of composites owing to their strength-to-weight ratio
- Application: Lightweight powertrain components lead to significant reductions in fuel consumption and enhancements in vehicle acceleration

Market Disruption Analysis
Porter's Five Forces Analysis
Value Chain & Critical Path Analysis
Pricing Analysis
Technology Analysis
Patent Analysis
Trade Analysis
Regulatory Framework Analysis

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Automotive Lightweighting Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Automotive Lightweighting Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

Strategic Partnership Between Hyundai and Toray to Advance Automotive Lightweighting and Electrification

Hyundai Motor Group and Toray Industries Inc. have entered into a strategic partnership to develop advanced materials aimed at vehicle lightweighting and specific components for electric vehicles (EVs). The partnership particularly highlights the significance of Carbon Fibre Reinforced Polymer (CFRP) parts in critical areas such as engines and electric batteries. [Published On: 2024-04-19]

ASK Automotive Partners with LIOHO for High-Pressure Die Casted Alloy Wheel Production in India

India's key manufacturer of brake shoes and advanced braking systems for two-wheelers, ASK Automotive Limited, is expanding into the High-Pressure Die Casted Two-Wheeler Alloy Wheels market. This strategic initiative involves a seven-year partnership with Taiwan's LIOHO Machine Works Limited, which will provide essential technical support. Aimed at enhancing the quality and safety of two-wheelers with globally competitive alloy wheels, targeting Original Equipment Manufacturers (OEMs). [Published On: 2024-02-08]

Evtec's Acquisition of JVM Strengthens UK Automotive Supply Chain and Advances Zero-Emission Goals

Evtec is committed to creating a robust interconnected supply network within the UK automotive industry. By acquiring JVM, Evtec enhances the UK's automotive supply chain, supporting global carbon reduction and net-zero targets. This strategic move underscores Evtec's role in advancing the automotive industry's shift towards electrification and sustainability. [Published On: 2024-01-25]

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Automotive Lightweighting Market. This critical assessment involves a thorough analysis of the organization's resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the Automotive Lightweighting Market, highlighting leading vendors and their innovative profiles. These include 3M Company, ABC Technologies Inc., Aisin Corporation, Alcoa Corporation, Aludyne, Inc., ArcelorMittal S.A., BASF SE, BENTELER International Aktiengesellschaft, Continental AG, Covestro AG, Cymat Technologies Ltd., Dana Incorporated, DuPont de Nemours, Inc., ESE Industries, Faurecia Group, FLEXcon Company, Inc., Formosa Plastics Corporation, Gestamp Servicios, S.A., GKN Automotive Limited, Huntsman International LLC, Hyundai Motor Group, Johnson Controls Inc., JSR Corporation, Lear Corporation, LG Chem, Ltd., LyondellBasell Industries Holdings B.V., M. Holland Company, Magna International Inc., Mahle GmbH, Meridian Lightweight Technologies, Novelis, Inc., nTopology, Inc., Owens Corning, POSCO, Robert Bosch GmbH, Saudi Basic Industries Corporation, Shape Corp., Solvay SA, SSAB AB, Sumitomo Electric Industries, Ltd., Tata Steel Ltd., Teijin Automotive Technologies, thyssenkrupp AG, Toray Industries, Inc., Trinseo PLC, Valeo SA, Voestalpine Metal Forming GmbH, ZF Friedrichshafen AG, Zhejiang Wanfeng Auto Wheel Co., Ltd, and Caresoft Global Technologies, Inc..

Market Segmentation & Coverage

This research report categorizes the Automotive Lightweighting Market to forecast the revenues and analyze trends in each of the following sub-markets:

Material Type
- Composite
- Elastomer
- Metal
- Plastics

Application
- Exterior Systems & Components
- Frame
- Interior Systems & Components
- Powertrain

Vehicle Type
- Commercial Vehicle
  - Heavy Commercial Vehicle
  - Light Commercial Vehicle

Electric & Hybrid Vehicles
Passenger Cars

End-Use
- Aftermarket
- Original Equipment Manufacturers

Region
- Americas
  - Argentina
  - Brazil
  - Canada
  - Mexico
  - United States
    - California
    - Florida
    - Illinois
    - New York
    - Ohio
    - Pennsylvania
    - Texas
- Asia-Pacific
  - Australia
  - China
  - India
  - Indonesia
  - Japan
  - Malaysia
  - Philippines
  - Singapore
  - South Korea
  - Taiwan
  - Thailand
  - Vietnam

Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom

Product Code: MRR-F611BFBC6626

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Growing innovations in automotive manufacturing industry to meet demand of fuel efficient passenger vehicles
  - 5.1.1.2. Rising demand for light composite materials owing to stringent pollution control norms, and enhanced passenger safety
- 5.1.2. Restraints
  - 5.1.2.1. Complex raw composite assembling and processing methods
- 5.1.3. Opportunities
  - 5.1.3.1. Growing investment in development of advanced and affordable electric and autonomous vehicle
  - 5.1.3.2. Ongoing research and development activities in novel composite materials for eco friendly vehicles
- 5.1.4. Challenges
  - 5.1.4.1. High cost of lightweight material and supply chain difficulties
5.2. Market Segmentation Analysis
- 5.2.1. Material Type: Growing adoption of composites owing to their strength-to-weight ratio
- 5.2.2. Application: Lightweight powertrain components lead to significant reductions in fuel consumption and enhancements in vehicle acceleration
5.3. Market Disruption Analysis
5.4. Porter's Five Forces Analysis
- 5.4.1. Threat of New Entrants
- 5.4.2. Threat of Substitutes
- 5.4.3. Bargaining Power of Customers
- 5.4.4. Bargaining Power of Suppliers
- 5.4.5. Industry Rivalry
5.5. Value Chain & Critical Path Analysis
5.6. Pricing Analysis
5.7. Technology Analysis
5.8. Patent Analysis
5.9. Trade Analysis
5.10. Regulatory Framework Analysis

6. Automotive Lightweighting Market, by Material Type

6.1. Introduction
6.2. Composite
6.3. Elastomer
6.4. Metal
6.5. Plastics

7. Automotive Lightweighting Market, by Application

7.1. Introduction
7.2. Exterior Systems & Components
7.3. Frame
7.4. Interior Systems & Components
7.5. Powertrain

8. Automotive Lightweighting Market, by Vehicle Type

8.1. Introduction
8.2. Commercial Vehicle
8.3. Electric & Hybrid Vehicles
8.4. Passenger Cars

9. Automotive Lightweighting Market, by End-Use

9.1. Introduction
9.2. Aftermarket
9.3. Original Equipment Manufacturers

10. Americas Automotive Lightweighting Market

10.1. Introduction
10.2. Argentina
10.3. Brazil
10.4. Canada
10.5. Mexico
10.6. United States

11. Asia-Pacific Automotive Lightweighting Market

11.1. Introduction
11.2. Australia
11.3. China
11.4. India
11.5. Indonesia
11.6. Japan
11.7. Malaysia
11.8. Philippines
11.9. Singapore
11.10. South Korea
11.11. Taiwan
11.12. Thailand
11.13. Vietnam

12. Europe, Middle East & Africa Automotive Lightweighting Market

12.1. Introduction
12.2. Denmark
12.3. Egypt
12.4. Finland
12.5. France
12.6. Germany
12.7. Israel
12.8. Italy
12.9. Netherlands
12.10. Nigeria
12.11. Norway
12.12. Poland
12.13. Qatar
12.14. Russia
12.15. Saudi Arabia
12.16. South Africa
12.17. Spain
12.18. Sweden
12.19. Switzerland
12.20. Turkey
12.21. United Arab Emirates
12.22. United Kingdom

13. Competitive Landscape

13.1. Market Share Analysis, 2023
13.2. FPNV Positioning Matrix, 2023
13.3. Competitive Scenario Analysis
- 13.3.1. Strategic Partnership Between Hyundai and Toray to Advance Automotive Lightweighting and Electrification
- 13.3.2. ASK Automotive Partners with LIOHO for High-Pressure Die Casted Alloy Wheel Production in India
- 13.3.3. Evtec's Acquisition of JVM Strengthens UK Automotive Supply Chain and Advances Zero-Emission Goals
13.4. Strategy Analysis & Recommendation

14. Competitive Portfolio

14.1. Key Company Profiles
14.2. Key Product Portfolio