Automotive Active body Panels Market Overview:
The global automotive
active body panels market is expected to exhibit a stable 4.7% CAGR over the forecast
period till 2032, according to the latest research report from Market Research
Future (MRFR). The global automotive active body panels market is mainly driven
by the growing demand for easily replaceable and reparable panels on
automobiles.
The report presents a detailed evaluation of the
major drivers and restraints affecting the global automotive active body panels
market. Major players operating in the global automotive active body panels
market are also profiled in detail in the report. The impact of the COVID-19
pandemic on the global automotive active body panels market is also assessed in
detail in the report.
Automotive active body panels are body panels that
adjust their shape in case of a collision or crash. The growing number of
automotive collisions around the world is the major driver for the global
automotive active body panels market. Around 1.35 million people die in road
crashes every year, with an additional 20-50 million people suffering non-fatal
injuries from road accidents. Poor road infrastructure, unsafe driving, and lax
enforcement of traffic laws are held up as the major causes for the increasing
number of road accidents.
Vehicle on vehicle crashes make up for a
significant portion of this total. In case of accidents, body panels on
automobiles need to be easy to remove and replace. This has driven the demand
for automotive active body panels in recent years. Due to the growing
disposable income of car owners and commercial vehicle fleet owners, replacing
automotive panels has emerged as a preferred tactic instead of repairing the
panel, which may take more time. This is also likely to be a major driver for
the global automotive active body panels market over the forecast period.
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body Panels Market
The increasing production of automobiles around
the world is also likely to be a major driver for the global automotive
active body panels industry over the forecast period.
Due to the increasing disposable income of consumers around the world, the
demand for automobiles has increased steadily over the last few years. Emerging
regions such as the Middle East and Asia Pacific have emerged as major
consumers of automobiles due to the increasing disposable income of consumers
in these regions. This has driven the global production of automobiles in
recent years.
Automotive Active Body Panel Market
Regional Analysis:
Asia Pacific is likely to dominate the global
automotive active body panels market over the forecast period due to the growing
production of automobiles in countries such as China, India, Japan, and South
Korea.
Automotive Active Body Panel Market
Competitive Leaderboard:
- General
Motors (US)
- Ford
Motor Company (US)
- Daimler
AG (Germany)
- Honda
Motor Company Ltd. (Japan)
- Volvo
Cars (Sweden)
- Nissan
Motor Company Ltd (Japan)
- Porsche
AG (Germany).
Automotive Active Body Panel Market
Segmentation:
The global automotive active body panels market is
segmented on the basis of type, application, end market, vehicle type, and
region.
By type, the global automotive active body panels
market is segmented into traditional body panels and energy-storing body
panels. The energy-storing body panels segment is likely to grow at a handsome
growth rate over the forecast period due to the growing demand for smart energy
conserving solutions in the automotive industry. Energy generation due to
automotive processes such as braking has been harnessed for further use. This
is likely to lead to a growing demand for energy-storing body panels.
By application, the global automotive active body
panels market is segmented into front and rear. Both segments of the global
automotive active body panels market are likely to grow over the forecast
period.
By end market, the global automotive active body
panels market is segmented into OEM and aftermarket. The OEM segment dominates
the global automotive active body panels market and is likely to retain its
dominance over the forecast period, as it is quite difficult to change body
panels aftermarket and install active body panels in place of conventional body
panels.
By vehicle type, the global automotive active body
panels market is segmented into passenger cars, commercial vehicles, and
electric vehicles.
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