Press release
Automotive Aluminum Extruded Parts Market is estimated to be worth US$ 93 Bn by 2031
Automotive Aluminum Extruded Parts Market 2022
The global automotive aluminium extruded parts market is currently valued at over US$ 53 Bn. Sales of automotive aluminium extruded parts are projected to increase at 5.8% CAGR and be valued at over US$ 93 Bn by 2031. Increase in demand for fuel-efficient vehicles and advancements in manufacturing technologies are driving the demand growth of aluminium extruded parts. Growing demand for electric vehicles and need for efficient material for automobile production are key trends in this space.
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Due to implementation of stricter emission standards around the world, there has been an increase in demand for lightweight vehicles. As a result, demand for aluminium extruded parts in automotive applications is expected to rise. The market for automotive aluminium extruded components is expected to grow as demand for electric vehicles rises around the globe. Since aluminium is used in electric vehicles, the range of these vehicles is increased.
Companies
• Novelist Inc.
• Benteler International
• Bonnell Aluminium Extrusion Company
• CAPALEX
• Constellium SE
• Kaiser Aluminium Corp.
• Kobe Steel Ltd.
• Norsk Hydro ASA
• Omnimax International
• ProfilGruppen Extrusions AB
• SMS shimmer
• UACJ Automotive Whitehall Industries, Inc.
• Walter Klein GmbH & Co. KG
• Gestamp Automoción, SA
• China Zhongwang Holdings Limited
• Indo Alusys Industries Limited
Complete Report Details@https://www.persistencemarketresearch.com/market-research/automotive-aluminum-extruded-parts-market.asp
Key Takeaways from Market Study
• Based on product, the market was dominated by the sub-structure segment. As demand for lightweight vehicles grows, leading vehicle manufacturers are turning to aluminium for sub-structures.
• 7000 series aluminium material is anticipated to remain one of the fastest-growing segment. Due to higher strength among all aluminium alloys, the 7000 series is mainly used in the automotive and aerospace industry.
• Passenger vehicles dominate the market owing to rising consumer demand for compact and mid-sized cars.
• Over the forecast period, East Asia and Europe are expected to be extremely profitable markets. The presence of a significant automobile sector in China, Japan, Germany, and Spain is the primary reason for this.
• "Growing trend of lightweight material adoption in automobiles to benefit automotive aluminium extruded part sales" says a Persistence Market Research analyst.
Conclusion
Demand for automotive aluminium extruded parts has shown significant growth over the years. With increasing production of passenger cars, light commercial vehicles, and heavy commercial vehicles, various manufacturers are aiming to provide custom-built extruded parts as per OEM requirements.
Also, manufacturers updating their product portfolios to increase their market presence. East Asia and Europe hold significant market share. Demand for automotive body panels and sub-structures are expected to remain high over the coming ten years.
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Key geographies evaluated in this report are:
North America - U.S, Canada
Europe - France, Germany, Italy, Spain, and the UK, Eastern Europe, CIS
APAC - China, India, Japan, Australia, Others
Latin America - Argentina, Brazil, Others
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Automotive Seats Market is set to surpass and to be valued at US$ 74.19 Bn by 2025 in terms of sales.
Automotive Seat Belt Market - https://www.persistencemarketresearch.com/market-research/automotive-seat-belt-market.asp
Global automotive seatbelt market is expected to reach a valuation of US$ 7.5 Bn in 2021 and is estimated to expand at approximately 6.5% CAGR from 2021-2031.
Europe Automotive Aluminum Extruded Parts Market - https://www.persistencemarketresearch.com/market-research/europe-automotive-aluminum-extruded-parts-market.asp
sales of automotive aluminum extruded parts in the region are expected to reach US$ 16.7 Bn by 2032, increasing at a healthy CAGR of 5.9%.
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