The global lightweight automotive body panels market size was valued at US$ 111.5 Bn in 2021 and is estimated to reach a valuation of US$ 117.0 Bn in 2022. Furthermore, with growing demand for lightweight and energy efficient vehicles, the overall demand for lightweight automotive body panels is slated to grow at a CAGR of 4.6% between 2022 and 2032, totaling around US$ 183.5 Bn by 2032.
Automotive body panels such as bumpers, hoods, door panels, roof, and trunk lids are manufactured using lightweight materials such as high-strength steel, aluminium, magnesium, and polymers and composites in order to provide desired strength with reduced weight.
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Lightweight automotive body panels help improve fuel economy and performance of vehicles by reducing the overall weight of the vehicle. About 25% reduction in automobile weight saves 3.5 to 5.0 tonnes of greenhouse gas emissions over the lifetime of an average car. Manufacturers today are adopting lightweight body panels in vehicles in order to comply with government regulations pertaining to greenhouse gas emissions.
Key Segment
By Material Type
- Metals
- High-strength Steel
- Magnesium
- Aluminium
- Polymers & Composites
- Carbon Fibre Reinforced Plastics
- Glass Fibre Reinforced plastics
- Other Polymer & Composite Materials
By Component Type
- Bumpers
- Hood
- Door Panels
- Trunk Lids
- Roof
- Others
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By Vehicle Type
- Light Commercial Vehicle
- Heavy Commercial Vehicle
By Region
- Passenger Car
- North America
- Latin America
- Western Europe
- Eastern Europe
- APEJ
- Japan
- MEA
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Segmentation highlights
The global lightweight automotive body panels market is segmented on the basis of Material Type (Metals, Polymers & Composites); Component Type (Bumpers, Hood, Door Panels, Trunk Lids, Roof, Others); and Vehicle Type (Passenger Car, Light Commercial Vehicle, Heavy Commercial Vehicle).
- The Metals material type segment is likely to be valued at US$ 92.7 Bn by 2016 end
- The Door Panels component type segment is anticipated to be a prominent segment accounting for maximum market share of 32.9% by 2016 end
- The Passenger Car vehicle type segment is expected to expand at a significant CAGR of 5.5% over the forecast period
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