LONDON--(BUSINESS WIRE)--Technavio’s latest market research report on the global automotive active body panel market provides an analysis of the most important trends expected to impact the market outlook from 2018-2022. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
According to Technavio analysts, the global automotive active body panel market will grow at a CAGR of over 8% during the forecast period. The growth in a number of on-road collisions and the increased fatality rate is a major factor driving the market’s growth.
The automotive industry is evolving due to the advent of new technologies, products, solutions, and more competition. The major market driver for the development of advanced safety technologies and solutions has been on-road collisions, which result in severe injuries and casualties for the occupants of the vehicle and the pedestrians every year.
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In this report, Technavio highlights the development of energy-storing body panels such as supercapacitors as one of the key emerging trends driving the global automotive active body panel market:
Development of energy-storing body panels: use of supercapacitors
Automotive engineers and researchers are continuously working towards bringing newer and improved technologies to the market. Innovations in automotive electronics have led to the development of all-electric cars, which is likely to replace the internal combustion engine (ICE) driven vehicles. In China and European economies, the market for electric vehicles (EVs) is proliferating and dominating the market in terms of market share.
The rapidly emerging EV market is a challenge for the EV manufacturers. EV uses lithium-ion battery, which has certain disadvantages. It has a large size and capacity to provide sufficient range, and due to this, it adds extra weight to the vehicle. The battery, which is one of the major cost components in the manufacturing of EVs, turns out to be quite expensive. To sort these issues, manufacturers are reworking on technologies that can replace the need for EV batteries.
One of the technologies that has been developed is body panels. They can store energy and act as a charger for electric vehicles. Body panels have witnessed an increase in development where automakers are working on body panels made of carbon resin and polymer fiber that serves the purposes of being strong enough to act as a body panel and at the same time can charge the EV. These materials are expected to charge the vehicle at a much faster rate than the conventional lithium-ion batteries, which would lead to a reduction in the overall weight of the vehicle by 20%.
“These body panels are designed to absorb energy either while plugging-in or while regenerative braking, wherein energy can be stored for future use. Lightweight supercapacitors made of carbon resin can be used in the form of high-density films consisting of all-carbon electrodes. Such body panels have minimal emissions and better overall performance,” says a senior analyst at Technavio for research on automotive components.
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Global automotive active body panel market segmentation
This market research report segments the global automotive active body panel market into the following applications (front and rear) and key regions (the Americas, APAC, and EMEA).
The front segment held the largest market share in 2017, accounting for nearly 93% of the market. The high market share can be attributed to the increasing penetration rate of the active front grille, active hood system, and upcoming optimized fenders in the automotive market.
EMEA was the leading region for the global automotive active body panel market in 2017, accounting for a market share of 43%. However, by 2022, the Americas is expected to surpass EMEA to become the leading region, accounting for a market share of 39%.
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