Lucintel Forecasts Composites In The Global Mass Transportation And Off Road Equipment Market To Reach $2 Billion By 2030

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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 $2 billion by 2030 from $1 billion in 2023 at a CAGR of 2% from 2023 to 2030. 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, etc.), intermediate material (SMC/BMC, SFT, GMT, LFT & D-LFT, and CFT), process (compression molding, injection molding LFI, and RRIM), and region (North America, Europe, APAC and the Rest of the World)
Lucintel forecasts that heavy trucks will remain the largest vehicle type segment over the forecast period. Buses and Coaches is expected to witness ...
... the highest growth due to increasing production of heavy commercial vehicles in North America.
Download sample by clicking on composites in the global mass transportation and off road equipment market.
SMC/BMC will remain the largest segment in the intermediate materials and LFT & D-LFT expected to witness the highest growth over forecast period.
APAC is expected to remain the largest region in the forecast period due to higher production of composites part for mass transportation than other region, and government regulations, are the key drivers for putting pressure on OEMs to incorporate lightweight materials to curb the overall weight. ROW is expected to witness highest growth over the forecast period.
BASF SE, Polynt Group, Dow Chemical Company, IDI Composites International, Teijin Limited, Core Molding Technologies, Quadrant Plastic Composites, Hanwah L&C Corporation, Lanxess are the major suppliers 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 write us at helpdesk@lucintel.com.
About Lucintel
At Lucintel, we offer solutions for you growth through game changer ideas and robust market & unmet needs analysis. We are based in Dallas, TX and have been a trusted advisor for 1,000+ clients for over 20 years. We are quoted in several publications like the Wall Street Journal, ZACKS, and the Financial Times.
Contact:
Roy Almaguer
Lucintel
Dallas, Texas, USA
Email: roy.almaguer@lucintel.com
Tel. +1 972.636.5056
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