Automotive Lightweight Materials Market
REPORT DESCRIPTION
Automotive Lightweight Materials Market- Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016- 2024
With the presence of a large pool of established automobile manufacturers, such as Tata, BMW, Audi, General Motors, and Ford, the worldwide market for automotive lightweight materials demonstrates a highly competitive landscape in Asia Pacific, Europe, and North America, finds a new research report by Transparency Market Research( TMR). Currently, the market is led by multinational automakers with a robust regional presence. The high potential of this market points towards an intensified rivalry between players in the years to come.
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According to TMR’ s estimation, the global automotive lightweight materials market offered an opportunity worth US $ 149.03 bn in 2015. Rising at a CAGR of 8.30 % during the period from 2016 to 2024, the total valuation of this market is likely to cross US $ 301.36 bn by the end of the forecast period. Metals have been the most valued product in this market and are projected to remain so over the next few years.
With Burgeoning Automotive Industry, North America to Retain its Lead
The report also studies the worldwide market for automotive lightweight materials on the basis of its geographical presence. As per the study, the global market is spread across North America, Europe, the Middle East and Africa, Latin America, and Asia Pacific. In 2015, North America emerged as the leading geographical segment in this market with a share of more than 30 %. The regional market is expected to retain its position over the forecast period, thanks to the significant growth in the North American automotive industry. The continual advancements in technology, robust manufacturing base, and the presence of a large pool of automobile manufacturers are also projected to boost the North America market for automotive lightweight materials in the years to come.
Transparency Market Research
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