DUBLIN--(BUSINESS WIRE)--The "Growth Opportunities for Composites in the Global Mass Transportation and Off Road Equipment Market" report has been added to ResearchAndMarkets.com's offering
The global market of composite materials in mass transportation and off road equipment is expected to reach an estimated $1.0 billion by 2023 and it is forecast to grow at a CAGR of 4.6% from 2018 to 2023.
The global composites end product market for mass transportation and off road equipment is expected to reach an estimated $2.8 billion by 2023.
The future of composite materials in the global mass transportation and off road equipment market looks promising with opportunities in exterior, interior, under the hood, electrical components, powertrain and other applications.
The major driver for growth in this market is increasing demand for lightweight materials over steel in heavy trucks, buses, and coaches due to government regulations to increase fuel efficiency and reduce carbon emission. Emerging trend, which has a direct impact on the dynamics of composites in mass transportation and off road equipment industry, include development of low density SMC material. The SMC & BMC material is expected to be the largest intermediate materials by value and volume over the forecast period.
Within this market, exterior will remain the largest application by value and volume due to increasing demand for composites in hood, fender, headlamp reflector and front end module. Composite materials in under the hood application are expected to witness highest growth due to increasing demand for high performance material in pan module, engine cover, heat shield, and air end caps.
Europe is expected to remain the largest region by value and volume due to higher production of composites part for mass transportation than other region. Government regulations, such as CAFE Standards in the US and carbon emission targets in Europe, are the key drivers for putting pressure on OEMs to incorporate lightweight materials to curb the overall weight.
Scope of the Report
Composites in Mass Transportation and off Road Equipment Market by Application (Volume (Million Pounds) and $M shipment analysis for 2012 - 2023):
- Under the Hood
- Electrical Component
Composites in Mass Transportation and off Road Equipment Market by Intermediate Material (Volume (Million Pounds) and $M shipment analysis for 2012 - 2023):
- Sheet Molding Compound (SMC) & Bulk Molding Compound (BMC)
- Short Fiber Thermoplastic (SFT)
- Continuous Fiber Thermoplastic (CFT)
- Long Fiber Thermoplastic (LFT)
- Glass Mat Thermoplastic ( GMT)
Composites in Mass Transportation and off Road Equipment Market by Vehicle Type (Volume (Million Pounds) and $M shipment analysis for 2012 - 2023):
- Heavy Truck
- Off Road Equipment
- Bus and Coach
Composites in Mass Transportation and off Road Equipment Market by Manufacturing Process ((Volume (Million Pounds) and $M shipment analysis for 2012 - 2023):
- Compression Molding
- Injection Molding
- Long Fiber Injection
- Reinforced Reaction Injection Molding
Key Topics Covered:
1. Executive Summary
2. Market Background and Classifications
3. Market Trends and Forecast Analysis from 2012 to 2023
4. Market Trends and Forecast Analysis by Region
5. Competitor Analysis
6. Growth Opportunities and Strategic Analysis
7. Company Profiles of Leading Players
- BASF SE
- DOW Chemical Company
- IDI Composites International
- Teijin Limited-Continental Structural Plastics
- Core Molding Technologies
- Quadrant Plastic Composites
- Hanwha L&C Corporation
For more information about this report visit https://www.researchandmarkets.com/research/cjksgj/3_8_billion?w=4