Europe Automotive Lightweight Car Market

Europe Automotive Lightweight Car Market Size (2024 to 2029)

The automotive lightweight car market size in Europe is estimated to reach USD 140.1 million by 2029 from USD 91.48 million in 2024, growing at a CAGR of 8.9% from 2024 to 2029.

An automotive lightweight car is designed to be as lightweight as possible by using lightweight materials such as carbon fiber, aluminum, and magnesium in the making, which are significantly lighter than traditional materials such as steel. Using lightweight materials in automotive design aims to improve the vehicle's fuel efficiency, handling, and overall performance. Additionally, using lightweight materials can also help reduce the overall weight of the vehicle, which can be beneficial in various ways. For instance, a lighter vehicle can accelerate faster, improving safety on the road. Additionally, a lighter vehicle will carry more payload and be more fuel efficient, saving money on fuel costs.

The presence of leading car manufacturing players in the European region is one of the major factors driving the European automotive lightweight car market. For instance, there are many sports car manufacturers in Europe; some of the most notable manufacturers are Ferrari (Italy), Lamborghini (Italy), Porsche (Germany), Aston Martin (United Kingdom), Bentley (United Kingdom), Maserati (Italy), McLaren (United Kingdom), Alfa Romeo (Italy), Bugatti (France), Koenigsegg (Sweden), Lotus (United Kingdom) and Pagani (Italy). These companies are known for producing high-performance sports cars for their speed, agility, and sleek design. Many of these manufacturers are considered among the best in the world, and their cars are highly sought after by collectors and enthusiasts alike.

In addition, factors such as growing focus from OEM manufacturers on making lightweight cars and rising production activities from the automotive industry are expected to support the market growth in Europe. The automotive industry in Europe is a significant contributor to the region's economy, with millions of vehicles being produced each year. Europe is home to many leading automotive companies, including BMW, Mercedes-Benz, Audi, Volkswagen, and Volvo. These companies are known for producing a wide range of vehicles, including luxury cars, sports cars, and commercial vehicles. The European automotive industry is characterized by a strong focus on innovation, with many companies investing heavily in research and development to produce the latest technologies and features. Additionally, Europe is also home to many automotive parts and components suppliers, which help to support the production of vehicles in the region. Overall, the automotive industry in Europe plays a vital role in the region's economy, providing employment for millions of people and generating billions of euros in revenue each year.

High costs associated with lightweight materials such as carbon fiber and magnesium are expected to hamper the growth rate of the automotive lightweight car market in the European region. The costs of lightweight materials such as carbon fiber, aluminum, and magnesium can vary depending on several factors, including the material's type and quality, the quantity purchased, and market conditions. In general, however, these materials are more expensive than traditional materials like steel. For instance, carbon fiber is typically more expensive than steel, with the cost per pound ranging from $10 to $15 for high-quality carbon fiber, compared to just $1 to $2 per pound for steel. Likewise, aluminum and magnesium are typically more expensive than steel, with the cost per pound ranging from $1 to $3 for aluminum and $3 to $5 for magnesium. In addition, the cost of processing these materials into usable forms, such as sheets or tubes, can also add to the overall cost.

REPORT COVERAGE

Based on the material type, the metals segment is likely to register the highest CAGR during the forecast period in the European market owing to the increasing demand for the use of metals in various industries.

Based on the manufacturing process, the extrusion segment had the major share of the European market in 2023. However, the stamping segment is predicted to have the dominant CAGR during the forecast period.

Based on the application, the structural segment is expected to hold the leading share of the European market during the forecast period whereas the powertrain segment is esteemed to have significant growth opportunities in the forecast period.

REGIONAL ANALYSIS

In the coming days, the German automotive lightweight car market is anticipated to showcase domination in the European market. Germany is widely known for its robust automotive industry, the largest in Europe and the fourth largest in the world. The German automotive industry is known for producing high-quality vehicles for their performance, efficiency, and innovation. Germany's most well-known automotive companies include BMW, Mercedes-Benz, Audi, Volkswagen, and Porsche. These companies are known for producing a wide range of vehicles, including luxury cars, sports cars, and commercial vehicles. The German automotive industry significantly contributes to the country's economy, providing employment for thousands of people and generating billions of euros in revenue each year. Growing R&D activities from the market participants in Germany are anticipated to help this country register domination in the European region.

KEY PLAYERS IN THE EUROPE AUTOMOTIVE LIGHTWEIGHT CAR MARKET

Companies playing a key role in the Europe automotive light Toyota Motor Corporation, Volkswagen AG, Ford Motor Company, Hyundai Motor Corporation, Nissan Motor Co. Ltd., General Motors Company, Honda Motor Co. Ltd., Kia Motors Corporation, Ferrari SpA, Automobili Lamborghini S.p.A. and Porsche AG.

RECENT HAPPENINGS IN THE EUROPEAN MARKET

• In August 2022, Automobili Lamborghini introduced the Urus Performance. The Urus Performante is a high-performance sports car produced by Automobili Lamborghini. It is a variant of the Lamborghini Urus SUV known for its speed, agility, and sleek design. The Performance version of the Urus features a V8 twin-turbo powerplant and a lightweight sports exhaust, which help to increase its power and reduce its weight, resulting in a best-in-class weight-to-power ratio of 3.2. As a result, the Urus Performante is considered one of the most powerful and capable SUVs on the market.

DETAILED SEGMENTATION OF THE EUROPE AUTOMOTIVE LIGHTWEIGHT CAR MARKET INCLUDED IN THIS REPORT.

This research report on the Europe automotive lightweight car market has been segmented and sub-segmented based on material type, manufacturing process, application and country.

By Material Type

• Metals
• Composites
• Plastics

By Manufacturing Process

• Extrusion
• Stamping
• Forging
• Casting
• Others

By Application

• Structural
• Powertrain
• Interior
• Exterior

By Country

• UK
• Russia
• Germany
• Italy
• France
• Spain
• Sweden 
• Denmark
• Poland
• Switzerland
• Netherlands
• Rest of Europe