New York, United States , July 26, 2024 (GLOBE NEWSWIRE) -- The Global Automotive Active Body Panel Market Size is to Grow from USD 1.28 Billion in 2023 to USD 1.96 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 4.35% during the projected period.
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The active body panel of a car that is configured to adjust in reaction to different situations, including an accident or collision, is referred to as a "reconfigurable body panel". An innovative concept recently developed for the automotive industry is the active body panel. To accelerate the design and development process, its materials would go through further development. Active air dams, active spoilers, and active grille shutters are types of active body panels that dynamically alter their shape and placement based on the driving conditions to reduce aerodynamic drag and improve vehicle performance. The desire for improved energy efficiency and reduced pollution is a key driver of the automotive active body panel market. In reaction to stringent environmental regulations and an increasing focus on sustainability, automakers are implementing active body panels to enhance vehicle aerodynamics. These panels constantly change their configuration to enhance fuel economy and reduce drag, which reduces carbon emissions. Better vehicle dynamics and performance are driving the usage of active body panels in automobiles. However, a significant restriction to the automotive active body panel market is the high initial cost. The design and integration of active body panel systems require substantial investments in research and development as well as specific manufacturing methods.
Browse key industry insights spread across 202 pages with 110 Market data tables and figures & charts from the report on the “Global Automotive Active Body Panel Market Size, Share, and COVID-19 Impact Analysis By Type (Traditional Body Panels and Energy-Storing Body Panels), By Application (Front and Rear), By End User (Original Equipment Manufacturer (OEM) and Aftermarket), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The traditional body panels segment is anticipated to hold the greatest share of the global automotive active body panel market during the projected timeframe.
On the basis of type, the global automotive active body panel market is divided into traditional body panels and energy-storing body panels. Among these, the traditional body panels segment is anticipated to hold the greatest share of the global automotive active body panel market during the projected timeframe. Traditional body panels continue to play a crucial role in the automotive market, representing a stable and long-lasting market segment. Throughout the ages, these panels which are often made of steel, aluminum, and composite materials have been a crucial component of automotive production.
The front segment is predicted to hold the greatest share of the global automotive active body panel market during the estimated period.
On the basis of application, the global automotive active body panel market is divided into front and rear. Among these, the front segment is predicted to hold the greatest share of the global automotive active body panel market during the estimated period. In front of this market, growth will be consistent. The automotive industry's increasing adoption of active front grilles, active hood systems, and soon-to-be optimized barriers is driving the market's growth.
The original equipment manufacturers (OEM) segment is anticipated to hold the largest share of the global automotive active body panel market during the projected timeframe.
On the basis of end users, the global automotive active body panel market is divided into original equipment manufacturers (OEM) and aftermarket. Among these, the original equipment manufacturers (OEM) segment is anticipated to hold the largest share of the global automotive active body panel market during the projected timeframe. The Original Equipment Manufacturer (OEM) segment, which handles the manufacturing-stage manufacture and integration of components into new cars, is the backbone of the automotive industry. When it comes to body panels, OEMs play a critical role in deciding on the design, selection of materials, and overall construction of cars.
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North America is expected to hold the largest share of the global automotive active body panel market over the forecast period.
North America is expected to hold the largest share of the global automotive active body panel market over the forecast period. North America has become the most important market for automotive active body panels due to the presence of major manufacturers, a high rate of adoption of cutting-edge vehicle technology, and stringent fuel efficiency regulations. As a result, manufacturers are already spending money on active body panel technology in an attempt to reduce aerodynamic drag and improve fuel efficiency.
Asia Pacific is predicted to grow at the fastest pace in the global automotive active body panel market during the projected timeframe. The quick development of the automotive sector increased disposable income, and government initiatives that promote the adoption of cutting-edge automotive technologies are the main drivers of this growth.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the global automotive active body panel market include BMW AG, Audi AG, Hyundai Mobis, Mercedes-Benz, Porsche AG, Honda Motor Co. Ltd, Nissan Motor Corporation, Adient PLC, Continental AG, Ford Motor Company, General Motors, Volkswagen AG, Toyota Motor Corporation, Hyundai Motor Com, and Others.
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Recent Developments
- In May 2024, BMW Motorrad announced the S1000 XR's arrival in the Indian market. This is just a few days after the M 1000 XR launched. The new S 1000 XR is available for purchase through CBU in India and is priced at Rs 22.5 lakh.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global automotive active body panel market based on the below-mentioned segments:
Global Automotive Active Body Panel Market, By Type
- Traditional Body Panels
- Energy-Storing Body Panels
Global Automotive Active Body Panel Market, By Application
- Front
- Rear
Global Automotive Active Body Panel Market, By End User
- Original equipment manufacturers (OEMs)
- Aftermarket
Global Automotive Active Body Panel Market, By Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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