Automotive Active Body Panels Market 10-year Forecast and Trends Analysis Research Report
Automotive active body panels are used to mitigate shock during an event of a collision, or store energy in an electric vehicle. The automotive active body panels absorb the energy of impact and are designed to protect the pedestrian during a collision. The active body panel, such as an active bonnet, is widely being used by automakers including Volkswagen, Mazda, and Daimler AG.
Rising concerns about pedestrian safety during frontal collision is a major factor driving the automotive active body panels market. Automakers are trying to incorporate several safety features in a vehicle in order to improve the vehicle’s safety rating and thus boost vehicle sales. Vehicle safety regulators such as National Highway Traffic Safety Administration (NHTSA) and European Enhanced Vehicle-safety Committee (EEVC) are encouraging automakers to adopt active body panels, which in turn is driving the automotive active body panels market. Rise in vehicle sales in developing regions, such as Asia Pacific and Latin America, is estimated to boost the automotive active body panels market. Rise in trend of electric mobility is expected to drive the demand for automotive active body panels. Battery weight is a key challenge for the electric vehicle manufacturers. Active body panels with energy storing capability can reduce battery weight and hence, integration of active body panels in electric vehicles is expected to rise in the near future.
The global automotive active body panels market can be segmented based on technology, vehicle type, region, and sales channel.
Based on technology, the global automotive body panels market can be classified into energy absorbing and conventional active body panels. The conventional active body panel segment held a dominant share of the market, as active bonnets are being used by several automakers. The energy absorbing active body panels segment is expected to expand at a high growth rate during the forecast period, owing to the rising need to offset the battery weight in electric vehicles.
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In terms of vehicle type, the global automotive active body panels market can be classified into passenger vehicle, light commercial vehicle, and heavy commercial vehicle. The passenger vehicles segment is expected to dominate the market due to higher rate of active bonnets being incorporated in passenger vehicles as pedestrians have higher risk of being thrown over the bonnet due to its height. Electric vehicles sold majorly belong to the passenger vehicle segment and hence, the passenger vehicle segment is expected to hold a major share of the market during the forecast period.
Based on sales channel, the global automotive active body panels market can be bifurcated into OEM and aftermarket. The OEM segment is anticipated to hold a major market share, as the active body panels are automaker fitted. Market share held by the aftermarket segment is expected to rise during the period due to accidental replacement of the body panels.
In terms of region, the global automotive active body panels market can be classified into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Europe and North America are expected to dominate the global automotive active body panels market due to high demand for safety in the region. The market in Asia Pacific is expected to expand at a notable growth rate due to a rise in vehicle production and awareness about vehicle safety in the region.
Key players operating in the global automotive active body panels market are Daimler AG, General Motors, Honda Motor Company, Ford Motor Company, Volvo Cars Nissan Motor Company Ltd, and Porsche AG.
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