The global lightweight materials for Electric Vehicle (EV) market size was USD 7.00 Billion in 2022 and is expected to register a revenue CAGR of 27.4% during the forecast period. Rising government initiatives in electric vehicles across the globe for reducing carbon emissions, rapid adoption of lightweight materials for EV devices, rising demand for electric vehicles for rising petroleum prices, and increasing product launches by key market players are some of the major factors driving the market revenue growth.

Rapid adoption of lightweight materials for EV devices is a major factor driving revenue growth of the market. As lighter vehicles spend less energy under the same conditions, lightweight technology is crucial in the field of electric car sustainability. Transitioning from metals to non-metallic composite materials gives automotive manufacturers several possibilities for achieving marginal advantages. Carbon-Fiber-Reinforced Plastic (CFRP), polymers, and other lightweight materials are extensively used in manufacture of electric cars. Furthermore, the use of such materials can reduce the weight of electric vehicles, improving their efficiency, range, and lifetime. By using lightweight structural materials, cars can carry more complex pollution control systems, safety equipment, and integrated electrical components without adding to the total weight of vehicle. Furthermore, increasing product launches by key market players is driving market revenue growth. For instance, on 15 August 2022, Mahindra & Mahindra introduced a new brand BE in the U.K., with five all-electric cars planned over the next five years. In Oxfordshire, U.K., an electric car portfolio of five electric automobiles was also displayed.

The report covers historical revenue and sales volume, and the data is further validated to provide a forecast market estimation of the market size and sales numbers for key regions along with types and end-user applications. Moreover, the report also includes macroeconomic factors and regulatory policies pertaining to the Lightweight Materials for Electric Vehicle (EV) industry for evaluation and predictive analysis. The report explores the effects of the pandemic on the market and its key segments and regions. It also offers a forecast estimation of the market growth in a post-COVID-19 scenario. 

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Competitive Outlook: The leading companies operating in the Lightweight Materials for Electric Vehicle (EV) market have been enumerated in this report. This section of the report lays emphasis on the geographical reach and production facilities of these companies. To get ahead of their rivals, the leading players are focusing more on offering products at competitive prices, according to our analysts.

Top Companies Operating in the Lightweight Materials for Electric Vehicle (EV) Market and Profiled in the Report are:

Toyota Kirloskar Motor., Tata Steel, Tesla., Covestro AG, BYD Company Ltd., TOYOTA MOTOR CORPORATION., Ford Motor Company., Nissan Motor Co., Ltd., Mercedes-Benz Group AG., General Motors

Objectives of the Report:

Study of the global Lightweight Materials for Electric Vehicle (EV) market size by key regions, types, and applications with reference to historical data (2017-2018) and forecast (2020-2027)

Industrial structure analysis of the Lightweight Materials for Electric Vehicle (EV) market by identification of various sub-segments

Extensive analysis of key market players along with their SWOT analysis

Competitive landscape benchmarking

Analysis of Lightweight Materials for Electric Vehicle (EV) market based on growth trends, futuristic outlook, and contribution to the total growth of the market

Analysis of drivers, constraints, opportunities, challenges, and risks in the global Lightweight Materials for Electric Vehicle (EV) market

Comprehensive analysis of competitive developments such as expansions, agreements, new product launches, and other strategic alliances

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Segments Covered in this report are:

• Material Type Outlook (Revenue, USD Billion; 2019-2032)

  • Metals and alloys
    1. Aluminum
    2. Magnesium
    3. Titanium
    4. High-strength Steel (HSS)
    5. Others
  • Plastics
    1. Polycarbonate (PC)
    2. Polyamide (PA)
    3. Polymethyl Methacrylate (PMMA)
    4. PET
    5. Others
  • Composites
    1. Carbon fiber-reinforced polymers
    2. Glass fiber-reinforced polymers
    3. Natural fiber-reinforced polymers
    4. Other composites
  • Elastomers
  • Others

• Electric and Hybrid Vehicle Type Outlook (Revenue, USD Billion; 2019-2032)

  • Battery Electric Vehicle (BEV)
  • Hybrid Electric Vehicle (HEV)
  • Plug-in Hybrid Electric Vehicle (PHEV)
  • Extended Range Electric Vehicle (EREV)
  • Fuel Cell Electric Vehicle (FCEV)

• Vehicle Type Outlook (Revenue, USD Billion; 2019-2032)

  • Passenger vehicles
  • Light commercial vehicles
  • Trucks
  • Buses

Regional Segmentation:

North America (U.S., Canada)

Europe (U.K., Italy, Germany, France, Rest of EU)

Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)

Latin America (Chile, Brazil, Argentina, Rest of Latin America)

Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

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