PUBLISHER: Inkwood Research | PRODUCT CODE: 1152321
PUBLISHER: Inkwood Research | PRODUCT CODE: 1152321
The Germany lightweight materials for EV market is set to rise with a CAGR of 16.24% over the forecasting years. The base year regarded for the market studied is 2021 and the forecast period is from 2022 to 2028. The market growth of the country is augmented by the steps taken to make the transportation sector acquiescent with Germany's goals for climate preservation and the increase in investments by the government.
In addition to being one of the most notable markets, Germany is also considered to be at the forefront of the avenue of electric vehicle manufacturing across Europe. In its German Development and Resilience Plan (DARP), the country's government underlined Climate-friendly mobility, constituting measures to make the German transportation industry compliant with its climate preservation goals. Furthermore, numerous investments are also being undertaken by the government, in this regard.
On the other hand, the presence of major original equipment manufacturers (OEMs), including Mercedes-Benz, Volkswagen AG, BMW, and others, is further expected to fuel the need for lightweight materials in Germany. Hence, the substantial push for industry development by the government is expected to play a vital role in aiding the growth of the lightweight materials for EV market growth in Germany over the forecast period.
Key companies in the market are: Constellium SE, LyondellBasell Industries NV, BASF SE, Covestro AG, etc.