How big is the Lightweight Cars Market?

The Lightweight Cars Market size is expected to reach USD 73.72 billion in 2024 and grow at a CAGR of 5.32% to reach USD 97.95 billion by 2029. Read More

What is the current Lightweight Cars Market size?

In 2024, the Lightweight Cars Market size is expected to reach USD 73.72 billion. Read More

Who are the key players in Lightweight Cars Market?

Toyota Motor Corporation, General Motors, Bayerische Motoren Werke AG (BMW), Hyundai Motor Co. and Nissan Motor Co. Ltd are the major companies operating in the Lightweight Cars Market. Read More

Which is the fastest growing region in Lightweight Cars Market?

Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029). Read More

Which region has the biggest share in Lightweight Cars Market?

In 2024, the Asia-Pacific accounts for the largest market share in Lightweight Cars Market. Read More

What years does this Lightweight Cars Market cover, and what was the market size in 2023?

In 2023, the Lightweight Cars Market size was estimated at USD 69.80 billion. The report covers the Lightweight Cars Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Lightweight Cars Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

Lightweight Cars Market - Share, Size & Growth

Lightweight Cars Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Report Covers Automotive Lightweight Material Market and It is Segmented by Car Type (Passenger Cars and Sports Cars), Material Type (Glass Fiber, Carbon Fiber, High-Strength Steel, and Other Material Types), and Geography (North America, Europe, Asia-Pacific, South America, and Middle-East and Africa). The Market Size and Forecast are Provided in Terms of Value (USD) for all the Segments.

Lightweight Cars Industry Overview

Lightweight Cars Market is consolidated, some of the major players in the lightweight car market are Toyota Motor Corporation, Nissan Motor Co. Ltd, Kia Motors Corporation, Hyundai Motor Co., and Ford Motor Company.

Auto manufacturers majorly dominate the market for lightweight cars. They also have a long-standing partnership with major composite manufacturing companies. With the need for sustainability and lower emissions to protect the environment, many OEMs are releasing electric vehicles on their models. The industry is looking to invest in and develop electric vehicles with the best combination of performance and a long travel range. For instance,

In December 2023, Toyota Europe has announced plans to roll out a new electric vehicle a Sport Crossover developed in collaboration with BYD. This launch, expected within the next few years is part of Toyota's broader strategy to expand its electric and low-emission vehicle portfolio in Europe by 2026.

This initiative aligns with the company's commitment to sustainable transportation and marks a significant step in its efforts to introduce a diverse range of environmentally friendly vehicles to the European market. The collaboration with BYD underscores Toyota's approach to leveraging partnerships in advancing its light electric vehicle technology and offerings.