Growth Opportunities for Composites in the Global Mass Transportation and Off Road Equipment Market

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Lucintel forecasts that SMC & BMC material is expected to be the largest intermediate materials by value and volume over the forecast period. #CompositesMarket, #CompositesMassTransportationMarket, #CompositesRoadEquipmentMarket, #MassTransportationMarket, #OffRoadEquipmentMarket, #TransportationMarket, #RoadEquipmentMarket

Growth Opportunities for Composites in the Global
Mass Transportation and Off Road Equipment
Market Report 2018-2023: Trends, Forecast and
Competitive Analysis
1

Industry Profiles Snapshot
Major Parameter Description
Market Segments by
Application
Floor, ceiling, seat structures, toilet module, wall panel, door, front end cab,
and others
Market Segments by Fiber Glass fiber, carbon fiber & others
Market Segments by Resin Epoxy, polyester, phenolic, vinyl ester, others
Market Segments by
Manufacturing Process
RTM/VARTM, open mold, pultrusion, SCRIMP, injection molding, others
Market Segments by Region North America, Europe, Asia Pacific and Rest of the World.
Top Companies Name
Core Molding Technologies, IDI Composites, Polynt Riechhold Group,
Teijin, and BASF
Trend Growth Rate and CAGR 4.6%
Key Industry Forecast
The global market of composite materials in mass transportation and off
road equipment is expected to reach an estimated $1.0 billion by 2023 and
it is forecast to grow at a CAGR of 4.6% from 2018 to 2023
Key Industry Driver
Driver: 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.
2

Industry Overview
Market Size
• The global market of composite materials
in mass transportation and off road
equipment is expected to reach an
estimated $1.0 billion by 2023 and it is
forecast to grow at a CAGR of 4.6% from
2018 to 2023.
• Emerging trend, which has a direct impact on
the dynamics of composites in mass
transportation and off road equipment industry,
include development of low density SMC
material.
Market Size (2023) $1.0 billion
CAGR (2018-23) 4.6%
3
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