Automotive Active Body Panel Market Research Report – Forecast to 2023
Market Research Future published a half- cooked research report on Global Automotive Active Body Panel Market.
Market Highlights
The automotive active body panel or reconfigurable body panel is placed either at the front or rear end of the automobiles. According to the Population Reference Bureau, the major cause of deaths by injury is road traffic accidents and an estimated 1.2 million people killed in road crash, every year. The prediction from the researchers of the association is that by 2020 if the scenario continues, road accidents will become the third leading contribution to injuries. Moreover, the degree of damage from accidents and the growing purchasing power of the consumers will increase the demand for replacing damaged parts. Growing vehicle sales in the developing countries and increased road accidents are the major driving factor for the global automotive active body panel market. It is expected that the rise in demand for automotive active body panels, will bring in improvements in material quality and new technologies by the manufacturers in the global market during the forecast period. However, there are limited players in the automotive active body panel in the market, which would bring down the production volume of components, which would hamper the overall growth for the global automotive active body panel market.
Market Research Analysis
In terms of region, the global market for the automotive active body panel is segmented into North America, Europe, Asia-Pacific, and the Rest of the World. Asia-Pacific is estimated to hold the highest revenue market share in the base year and is expected to dominate during the forecast period followed by Europe. The automotive active body panels market in Asia-Pacific is growing as there has been a continuous increase in the demand for automotive active body panels in China, India, Japan, South Korea, and Thailand owing to an increase in the purchasing power as well as an increase in the average disposable income. In Asia-Pacific, there has been a continuous growth in aftermarket, which enhances the revenue market share for the automotive active body panels. In Europe, there have been high sales of luxury passenger cars along with the presence of top manufacturers such as Volkswagen Group, which further boost the sales for the automotive active body panel. In North America, awareness regarding changing vehicle components will drive the growth of the automotive active body panel.
Scope of the Report
This study provides an overview of the global automotive active body panel market, tracking three market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume, and share for North America, Europe, Asia-Pacific, and the Rest of the World. The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global automotive active body panel market by type, application, end market, vehicle type, and regions.
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Key Players
The prominent players in the global automotive active body panel market include General Motors (US), Daimler AG (Germany), Ford Motor Company (US), and Honda Motor Company, Ltd. (Japan). Nissan Motor Company Ltd, (Japan), Volvo Cars (Sweden), and Porsche AG (Germany) are among others.
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