Composites and Advanced Materials

According to a new market report published by Lucintel, the future of the composites in the global mass transportation and off road equipment market looks promising with opportunities in the heavy trucks, bus and coaches, and off road equipment market. Composites in the global mass transportation and off road equipment market is expected to reach an estimated $1.3 billion by 2027 with a CAGR of 7.3% from 2021 to 2027. 

The major driver for growth in this market is 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.

In this market, SMC/BMC (Sheet Molding Compound/ Bulk Molding Compound), SFT (Short Fiber Thermoplastic), GMT (Glass Mat Thermoplastic), LFT (Long Fiber Thermoplastic)& D-LFT, and CFT (Continuous Fiber Thermoplastic) are the major intermediate material type of composites in the global mass transportation and off road equipment market. Lucintel forecasts that SMC/BMC will remain the largest segment due to its increasing use in various applications of automotive like; powertrain application, interior, exterior, under body shield, and others. LFT & D-LFT is expected to witness the highest growth over the forecast period due to its better cleansing and moisturizing properties.

Within the composites in the global mass transportation and off road equipment market, heavy trucks will remain the largest vehicle type segment and it is also expected to witness the highest growth over the forecast period due to increasing production of heavy commercial vehicles in North America.

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.

Emerging trends, which have a direct impact on the dynamics of the industry, includes increasing complexity and styling requirements are driving composites usage and development of low-density SMC. Core Molding Technologies, IDI Composites International, Polynt-Riechhold, Teijin (Continental Structural Plastics), and BASF companies are among the major suppliers of composites in the global mass transportation and off road equipment market.

Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the composites in the global mass transportation and off road equipment market by vehicle type, application, intermediate materials, process, and region. Lucintel has prepared a comprehensive research report entitled “Growth Opportunities in the Composites in the Global Mass Transportation and Off Road Equipment Market 2022-2027: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy as it provides a comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the composites in the global mass transportation and off road equipment market by vehicle type, application, intermediate materials, process, and region as follows:











































This 205-page 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 write us at helpdesk@lucintel.com.

About Lucintel

Lucintel, the premier global Management Consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, Growth Consulting, M&A, and Due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.

This report answers following 11 key questions:

Q.1 What are some of the most promising potential, high growth opportunities for the 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)?

Q.2 Which segments will grow at a faster pace and why?

Q.3 Which regions will grow at a faster pace and why?

Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges of the market?

Q.5 What are the business risks and threats to the market?

Q.6 What are the emerging trends in this market and the reasons behind them?

Q.7 What are the changing demands of customers in the market?

Q.8 What are the new developments in the market? Which companies are leading these developments?

Q.9 Who are the major players in this market? What strategic initiatives are being implemented by key players for business growth?

Q.10 What are some of the competitive products and processes in this area and how big of a threat do they pose for loss of market share via material or product substitution?

Q.11 What M & A activities have taken place in the last 5 years in this market?