An overview of the worldwide automotive industry from an ESG perspective is provided in the new study “ESG in the Automobile Industry” from ResearchAndMarkets.com.
The analysis of the automobile industry supply chain with respect to ESG is included in the report as well as a detailed analysis of regulation for the automobile industry. The report further explains the major drivers, retains, and trends impacting ESG implementation across the sector.
The Report Includes:
- An overview of the recent trends and advancements with respect to ESG factors in the automotive industry
- Technology assessment of the market growth opportunities and challenges pertaining to the ESG implementation in automotive manufacturing companies and other key industry participants
- Review of ESG-related case studies and an industry overview of the automotives
- Discussion of the industry value chain analysis providing a systematic study of key intermediaries involved, current trends in the ESG industry, regulatory frameworks, market demands, and growth forecasts in developed as well as developing economies
- Identification of the key players offering ESG services
- A look at the steps taken towards the ESG sustainability and recommendations for the future of the automobile industry
Last year, almost all of the largest companies in the electric utility and automotive industries were lagging behind in hitting their carbon budgets. The study by CDP, World Benchmarking Alliance and ADEME detailed that nearly all the companies still rely on fossil fuels and that 7% of vehicles sold are low carbon while just 3 of 50 electric utilities are hitting International Energy Agency guidelines on carbon emissions.
According to a separate study, the global car industry will grow as automakers strive to reduce CO2 emissions during the next three to five years.
The stringent regulations for original equipment manufacturers’ (OEMs) to meet sustainability targets will drive the automotive plastics sector. The analysis found that OEM’s need for lightweight materials expedites the automotive plastics industry. The market will likely reach $45.07 billion by 2028 from $31.29 billion in 2021, an uptick at a compound annual growth rate (CAGR) of 5.3%.
To reap the benefits of expanding the global automotive plastics industry, companies can:
- Materialize gains by collaborating with OEMs to develop and scale plastic-based components, especially battery housings.
- Partner with component manufacturers to develop recycled grades that ensure performance on par with components made from virgin resin.
- Ensure zero-to-minimal signal interference and seamless signal transmission and receipt.
- Create growth opportunities by developing hybrid or thermoplastic composites to create lighter components without significantly increasing costs.