According to the recent study the composites in the global mass transportation and off road equipment market is projected to reach an estimated $2 billion by 2030 from $1 billion in 2023 at a CAGR of 2% from 2023 to 2030. Growth in this market is primarily driven by 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.
Browse 107 figures/charts
and 68 tables in this 205-page report to understand trends, opportunities and
forecast in composites in the global mass transportation and off road equipment
market by vehicle type (heavy trucks, bus and coach, and off road equipment),
application (heavy trucks by application, bus and coach by application, etc.),
intermediate material (SMC/BMC, SFT, GMT, LFT & D-LFT, and CFT), process
(compression molding, injection molding LFI, and RRIM), and region (North
America, Europe, APAC and the Rest of the World).
Lucintel forecasts that
heavy trucks will remain the largest vehicle type segment over the forecast
period. Buses and Coaches is expected to witness the highest growth due to
increasing production of heavy commercial vehicles in North America.
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composites
in the global mass transportation and off road equipment market.
SMC/BMC will remain the
largest segment in the intermediate materials and LFT & D-LFT expected to
witness the highest growth over forecast period.
APAC is expected to
remain the largest region in the forecast period due to higher production of
composites part for mass transportation than other region, and government
regulations, are the key drivers for putting pressure on OEMs to incorporate
lightweight materials to curb the overall weight. ROW is expected to witness
highest growth over the forecast period.
BASF SE, Polynt Group, Dow
Chemical Company, IDI Composites International, Teijin Limited, Core Molding
Technologies, Quadrant Plastic Composites, Hanwah L&C Corporation, Lanxess are the major suppliers in the global
mass transportation and off road equipment providers.
This unique research report
will enable you to make confident business decisions in this globally
competitive marketplace. For a detailed table of contents, contact Lucintel at
+1-972-636-5056 or write us at helpdesk@lucintel.com.
About Lucintel
At Lucintel, we offer solutions for
you growth through game changer ideas and robust market &
unmet needs analysis. We are based in
Dallas, TX and have been a trusted advisor for 1,000+ clients for over 20
years. We are quoted in several publications like the Wall Street Journal, ZACKS,
and the Financial Times.
Contact:
Roy Almaguer
Lucintel
Dallas, Texas, USA
Email: roy.almaguer@lucintel.com
Tel. +1 972.636.5056
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