What is the Current Scenario of Automotive Engine Metals Market?

Asia Pacific is expected to have the biggest market share on the global market for automotive engine metals. With the rapid expansion of developing nations in the region such as China, India, and Japan in the automotive industry, the OEM's have focused on developing technologically advanced powered engines to achieve high torque and performance. It is followed by Europe and North America thanks to the presence of long-established original equipment manufacturers that provide a strong basis for the robust development and growth of the region's automotive engine metal market.

The Global Automotive Engine Metals Market is projected to reach USD XX billion by 2028, growing at a CAGR of XX during the forecast period.

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What is Automotive Engines?

To understand the use of metals in automotive engines QMI has studied automotive engines in its report. Automotive Engine is one of the vehicle's most essential components. It enables the vehicle to function efficiently and run smoothly without any trouble. Vehicle emission, efficiency and overall performance of every vehicle depend on the condition of an automotive engine. Therefore, it is important for engine manufacturers to use a material that is suitable for high speed and high-temperature applications. Also, there are various rotating and reciprocating parts in the engine, which makes it important for the material to be wear-resistant to improve the efficiency of the engine.

In this report, we look at the metal materials used in major parts of an automotive engine such as the crankshaft, cylinder head, piston, and so on. The most commonly used metals are steel, iron, and aluminum among the various materials used to make the different parts of an engine. Usually, these materials are alloyed to give the part specific properties that it needs. Nickel, Chromium, and Silicon are the most common alloying materials.

Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:

For Aluminum-
1. China Hongqiao Group Ltd.
2. Aluminum Corp. of China
3. Shangdong Xinfa
4. UC Rusal
5. Rio Tinto

For Cast Iron-
1. Waupaca Foundry
2. Neenah Foundry
3. Chassix
4. Cadillac Casting Inc.
5. Rochester Metal Products
6. Weichai

For Steel-
1. Arcelor Mittal
2. Nippon Steel & Sumitomo Metal Corporation
3. Hebei Iron & Steel Group
4. Tata Steel Group

Segmentation by QMI-

The report segments the market based on type. The passenger vehicle segment is expected to hold the most prominent share in the market for automotive engine metals, based on the type of vehicle. This is due to the growing worldwide automotive sector supported by the growing disposable revenue in several regions. According to the International Organization of Motor Vehicle Manufacturers, the number of passenger cars sold increased from 49,650,336 in 2009 to 70,849,466 in 2017 and is expected to continue to grow and act as one of the main factors for the growth of the automotive engine metals market.

However, the use of composites in several parts of the engine to reduce the vehicle's overall weight, which in turn reduces the fuel consumption efficiency, is one of the major factors restricting the market for automotive engine metals.
Important aspects which have an impact on the growth of automotive engine metals market:

Rapid growth in the automobile industry worldwide.
Ability to be allowed to achieve specific properties.
Use of composites in several parts of the engine to reduce the overall weight of the vehicle.

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Interesting events in the Automotive Engine Metals Market:

In July 2015, China Hongqiao Group Co., Ltd., China's leading manufacturer of aluminum products, announced the first African project vessel for the Group. The successful launch of bauxite in Guinea not only marks a major breakthrough in the global resource allocation strategy of the Group but also effectively implements the strategic approach to the national "Maritime Silk Road."

Tata Steel Group (India) signed a conclusive agreement with ThyssenKrupp in June 2018, combining steel companies in Europe to create a 50:50 pan-European joint venture focusing on customer centricity, technology, and sustainability.

In March 2019, the Hitachi Metals company Waupaca Foundry Inc. (US) entered into separate fabrication alliances with Dotson Iron Castings (US) and Kohler Industrial Castings (US). Under the agreements, customers of Waupaca Foundry applying for horizontal molding will access the capabilities of Kohler and Dotson with a streamlined supply chain run by Waupaca Foundry.

What Does This Report Provide?

In the forecast period, this study offers a detailed view of the world demand for automotive engine metals from both quality and quantity perspectives. The study also includes competitive metrics with potential market effects over the forecast period and an in-depth review of the leading companies operating on the market for automotive engine metals.

Market Segmentation:

By Component:

Crankshaft
Carbon Steel Alloys
Chromium
Molybdenum
Nickel
Silicon
Aluminum
Cobalt
Others

Cylinder head
Cast Iron
Aluminum Alloy
Copper-Silicon-Manganese
Silicon-Manganese-Magnesium

Flywheel
Nodular Iron
Steel
Aluminum

Cylinder Block
Cast Iron
Aluminum Alloy

Piston
Steel
Aluminum

Engine Valves
Carbon Steel Alloys
Stainless Steels
Nickel-Chromium-Iron Alloys
Titanium

Connecting Rod
Steel
Aluminum Alloys
Titanium

Intake Manifold
Aluminum
Cast Iron

Exhaust Manifold
Cast Iron
Stainless Steel

Spark Plug
Nickel Alloys
Gold
Silver
Platinum
Others

By Vehicle Type:

Passenger
Commercial
Electric
Defense
Construction
Farm Tractors
Others

By Region:

North America
By Country (US, Canada, Mexico)
By Component
By Vehicle Type

Western Europe
By Country (Germany, UK, France, Spain, Rest of Western Europe)
By Component
By Vehicle Type

Eastern Europe
By Country (Russia, Turkey, Rest of Eastern Europe)
By Component
By Vehicle Type

Asia Pacific
By Country (China, Japan, India, Rest of Asia Pacific)
By Component
By Vehicle Type

Middle East
By Country (UAE, Qatar, Iran, Saudi Arabia, Rest of Middle East)
By Component
By Vehicle Type

Rest of the World
By Region (South America, Africa)
By Component
By Vehicle Type

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This release was published on openPR.