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Automotive Metal Market 2020 by industry growth & regional trend to 2025

02-12-2020 11:33 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: global market insights

Automotive Metal Market

Automotive Metal Market

Based on applications, automotive metal market is classified as body structure, power train and suspension. Body dominates the overall market and is expected to witness considerable growth during the study period. The growth is attributed to ease of maintenance & repair of stamped body parts and high recyclability compared to other alternatives. Growth in suspension is credited to increasing use of alloys for manufacturing suspension of armored vehicles.

Powertrain includes various parts including drive shaft, clutch hubs, universal joints and transmission shafts & gears. The demand is increasing due to superior mechanical strength, porosity and resistance to heat of the material required for pressure valves, fittings & flanges and valve bodies.

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Asia Pacific dominates overall automotive metal market owing to largest automobile production industry leading to high raw material demand. Countries contributing to the regional growth are China & India with highest demand and high growth rate. High passenger vehicle demand will increase raw material consumption during the forecast period.

North America is expected to witness significant growth during the forecast timeframe owing to presence of several vehicle manufacturers in the region. Relaxation in regulations regarding standards for reducing greenhouse emissions and vehicle fuel efficiency goals by Trump government will support the industry growth. Moreover, government reviewing other standards related to vehicle emission and border adjustment tax is also expected to affect the industry growth in the region.

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

o Tata steels
o Hyundai steel
o Essar steel
o Thyssenkrupp AG
o Novalis
o Posco
o Voestalpine Group
o Nippon steel & Sumitomo Metal corporation
o United steel corporation
o ArcellorMittal
o UACJ Corporation
o Kobe Steel
o AMG Advanced Metallurgical Group
o Constellium NV
o Massey Ferguson Ltd.
o Norsk Hydro

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Automotive Metal Market Size will experience steady growth owing to increasing vehicle demand across the globe.

Surge in passenger vehicle demand backed by increasing disposable income in developing economies primarily drive the demand for raw material used in automotive industry. Increasing vehicle demand has led increasing vehicle production which drives the demand for automotive metal market. Significant use of metals in auto components such as chassis, engine, roof, panels, wheels, brake, radiator will increase automotive metal market share during forecast period.

Stringent government regulations for reducing vehicle emission has led to OEMs demanding light weight materials for their vehicle production. Demand of light weight steel, aluminum & magnesium and technological advancements focused towards increasing material strength will support the industry growth.

Browse Complete Report Summary @ https://www.gminsights.com/industry-analysis/automotive-metal-market

However, highly priced products and stringent government regulation on low carbon emission, reduce body weight, with fuel efficiency will hinder industry growth. Also, use high grade carbon & plastic material can replace metals in vehicle. Currently plastic accounts for 15 % vehicle body weight. Increasing use of carbon fiber and plastic in vehicle part will restrict the industry growth during forecast period.

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Contact Person: Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone:1-302-846-7766
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Email: sales@gminsights.com
Web: https://www.gminsights.com

About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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