Insights on the Automotive Metal Market to 2021 – Business Analysis, Market Key Restraints, Key Drivers, Growth Analysis And Segmental insights By 2027 | ArcelorMittal SA, Voestalpine Steel Division, Magna International Inc.

Automotive Metal Market
The global automotive metal market was valued at USD 105 billion in 2020 and registering a CAGR of 4% during the forecast period, 2021–2027.
Automotive metals are metals used in the manufacturing of automotive bodies or vehicle parts, such as steel, aluminum, and others. Chassis, body, and drivetrain components include bumpers, engine oil systems, doors, body panels, exhaust systems, suspensions & steering systems, fuel supply systems, wheels, transmission systems, and tire parts are some of automotive parts where metals are used in the manufacturing. Automotive metal components are made through processes such as cutting, bending, and drawing. Additionally, various types of press and dies are also used in the manufacturing of automotive components.

Regulatory policies and support for fuel-efficient and lightweight vehicles are anticipated to positively influence the use of aluminum, magnesium, high strength steel, and advanced high strength steel in the automotive industry. Aluminum is largely used in the manufacturing of different vehicle parts, due to its light weight and high strength. Globally, increasing demand for vehicles, owing to population growth, improving standard of living, and increasing disposable income, is expected to accelerate vehicle production. Additionally, technological advancements and their rapid adoption in the automotive industry are expected to further fuel the growth of the automotive metal market during the forecast period, 2020–2027.

Growing cost of automotive metal and increasing use of high-performance plastics such as polyamide, polypropylene, polyurethane (PUR), poly-vinyl-chloride (PVC), acrylonitrile butadiene styrene, POM (polyoxymethylene) and others can be considered as the key restraints hampering market growth.

The use of aluminum in the automotive industry, owing to benefits such as environment-friendly, and safe nature, has been increasing over the years. Furthermore, the high strength and lightweight of aluminum make it an ideal choice for the automotive industry.
Body structure is expected to gain traction in the global automotive market, owing to the large amount of steel required in the making of vehicles’ body structure as compared to other parts of vehicles. According to the World Steel Association, 34% of steel is used in the production of body structure for vehicles. Furthermore, advanced high-strength steels (AHSS) are increasingly being used in the manufacture of lightweight and optimized vehicles to enhance performance, safety and fuel efficiency.
Commercial vehicles are expected to witness tremendous growth in the global market, owing to the growing logistics & transportation business, easy availability of finance for vehicles from private and government institution.

North America is expected to witness considerable growth in the automotive metal market during the assessment period (2019–2027) with countries across the region taking initiatives to increase the production of fuel-efficient vehicles in order to reduce carbon dioxide emission. Additionally, the region is home to a majority of automotive manufacturers such as Ford Motor Company, Fiat, Toyota, Volkswagen Group and others.

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The Major Prominent Players Covered in this Report:
ArcelorMittal SA, Voestalpine Steel Division, Magna International Inc., Alcoa Corporation, Hyundai Mobis, Schaeffler AG, Benteler International, Gestamp, Dana Limited, and GKN plc. & More.

NOTE: Our analysts monitoring the situation across the globe explains that the market will generate remunerative prospects for producers post the COVID-19 crisis. The report aims to provide an additional illustration of the latest scenario, economic slowdown, and COVID-19 impact on the overall industry.

By Product Type
Aluminum
Steel
Magnesium
Others

By Application
Body Structure
Power Train
Suspension
Others

By End Use
Passenger Vehicles
Commercial Vehicles

Geographically, this report is segmented into several key regions, with sales, revenue, market share and growth rate of Steerable Medical Devices in these regions, from 2021 to 2027, covering:
North America (United States, Canada and Mexico)
Europe (Germany, UK, France, Italy, Russia and Turkey etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)

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Key Automotive Metal Market Trends:
- The report identifies, determines, and forecasts the Global Automotive Metal Market segments based on their type, sub-type, technology used, applications, end-users, and regions.
- Industry to Industry Holds Largest Share in the Automotive Metal Market
- It examines the micro-markets based on their growth trends, development patterns, future prospects, and contribution to the overall market.
- Demand from Regional / geographical is Expected to Drive the Growth
- Rising Adoption of Market Segments in this Growth
- North American, Europe is Expected to Witness Higher Growth Rate over the Forecast Period
- It studies the competitive developments such as partnerships and collaborations, mergers and acquisitions (M&A), research and development (R&D) activities, product developments, and expansions in the Global Automotive Metal Market.

Key Questions Answered in The Report:
What will the Automotive Metal market growth rate?
What are the key factors driving the global Automotive Metal market?
Who are the key manufacturers in the Automotive Metal market space?
What are the market opportunities, market risk, and market overview of the Automotive Metal market?
What are sales, revenue, and price analysis of top manufacturers of the Automotive Metal market?
Who are the distributors, traders, and dealers of the Automotive Metal market?
What are the market opportunities and threats faced by the vendors in the global Steerable Medical Devices Industry?
What are sales, revenue, and price analysis by types and applications of the Automotive Metal Industry?
What are sales, revenue, and price analysis by regions of Automotive Metal industry?
What are the driving factors contributing to market growth during the short, medium, and long term?

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