Automotive body panels are body parts of the vehicle that are made of conventional material such as steel, iron, magnesium, aluminum, and other materials. Automotive body panels are a primary and integral part of the vehicle, as they cover the vehicle. Automotive body panels are mounted on the chassis and engine of the vehicle and act as cover in order to protect the passengers against the elements. An automotive body panel includes the roof, bumper, hood, and doors.
Key players operating in the global automotive body panels market include:
GORDON AUTO BODY PARTS CO., LTD., AUSTEM COMPANY LTD., Gestamp, Magna International Inc., KUANTE AUTO PARTS MANUFACTURE CO., LTD., and FLEX-N-GATE Corporation.
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Rise in demand for automotive body panels due to their extensive usage in vehicles, is expected to be a key factor driving the automotive body panels market during the forecast period. Increase in the production of automotive body panels with advance technology by reducing the weight and providing the light weight body panels, which reduces the weight of the vehicle and makes vehicle more efficient are also projected to boost the automotive body panels market during the forecast period. Automotive body panels offer several benefits such as reliability, ease of maintenance, and availability in any region. Lightweight body panels are changing the automotive body panels dynamic in the market, as they provide desired strength for the components with reduced weight. This is likely to provide lucrative opportunities to the automotive body panels market. Lightweight body panels are more expensive on account of the availability of raw material and strength. This is expected to hamper the growth of upgraded automotive body panel market during the forecast period.
The automotive body panels market can be segmented based on components, vehicle type, end-user, and region. Based on components, the automotive body panels market can be segregated into bumper, hood, door panels, roof, and others. The door panels segment accounts for a major share of the market, as compared to the others. The door panels segment is followed by the bumper segment, which is expected to expand at a significant growth rate during the forecast period.
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