Lucintel Forecasts Composites In The Global Mass Transportation And Off Road Equipment Market To Reach $1.6 Billion By 2028

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According to the recent study the composites in the global mass transportation and off road equipment market is projected to reach an estimated $1.6 billion by 2028 from $1.1 billion in 2022, at a CAGR of 7% from 2022 to 2028. 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, and off road equipment by application), intermediate material (SMC/BMC, SFT, GMT, LFT & D-LFT, and CFT), process (compression molding, injection molding, LFI, and RRIM), and region (North America, Europe, Asia Pacific, and the Rest of the World).
Download sample report by clicking on below link https://www.lucintel.com/composites-in-mass-transportation-and-off-road.aspx ...
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“Within the composites in the global mass transportation and off road equipment market, the heavy trucks segment is expected to remain the largest application”
Based on application the heavy trucks segment is expected to witness the highest growth over the forecast period due to increasing production of heavy commercial vehicles in North America.
“Europe will dominate the composites in the global mass transportation and off road equipment market in near future”
Europe is expected to remain the largest region and witness the highest growth over the forecast period due to higher production of composites part for mass transportation than other region, and government regulations, such as CAFE Standards in the US and carbon emission targets in Europe, are the key drivers for putting pressure on OEMs to incorporate lightweight materials to curb the overall weight. APAC is expected to witness highest growth over the forecast period.
Download Brochure of this report by clicking on https://www.lucintel.com/composites-in-mass-transportation-and-off-road.aspx
Major players of composites in the global mass transportation and off road equipment market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. BASF SE, Polynt-Reichhold, Dow Chemical Company, DSM, IDI Composites International, Teijin Limited, Core Molding Technologies, Quadrant Plastic Composites, Hanwah L&C Corporation, and Lanxess are among the major composites 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 click on this link https://www.lucintel.com/composites-in-mass-transportation-and-off-road.aspx or helpdesk@lucintel.com
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Lucintel
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