BCC Research has released a new market research report titled, Lightweight Materials Used in Transportation Equipment.
TRENDS IN GLOBAL MARKET FOR LIGHTWEIGHT MATERIALS USED IN TRANSPORTATION EQUIPMENT, 2009-2015 (MILLION TONS/$ BILLIONS)
According to the technical report, the world-wide market value for these materials is anticipated to grow at a compound annual growth rate (CAGR) of 5.6% from $95.5 billion in the year 2010 to around $125.3 billion in the year 2015.
The report also projects consumption of lightweight materials to increase at 7.7% CAGR from 46.7 mt in 2010 to 67.7 mt in the year 2015.
The BCC Research report aims to provide an assessment of the market for lightweight materials. It assesses the opportunities for businesses that are expected to emerge during the period from 2010 to 2015.
A major portion, around 75%, of the fuel consumption of a motor vehicle is dependent on the weight of the vehicle. A reduction in weight will directly improve the performance and increase the fuel efficiency of the vehicle and other transportation equipment. Downsizing and weight reduction are also critical for the success of hybrid vehicles.
As an alternative to downsizing of vehicles usage of lightweight materials such as aluminum alloys and lightweight composite materials also help reduce fuel consumption in motor vehicles and associated transportation equipment.
The report is targeted at providers of lightweight materials, entrepreneurs, venture capitalists, investors and marketing executives.