Press release
Automotive Aluminum Extruded Parts Market will be valued at over 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.
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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.
Competitive Landscape
The global automotive aluminium extruded parts market is highly competitive at regional as well as global levels, and highly consolidated in nature.
Some of the key players included in the report are
• 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
Top companies operating in the market are occupying hefty shares in terms of revenue. With compliance to governmental standard and regulations, these companies have a global and regional presence. Prime manufacturers are also updating their technologies to improve their market share.
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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.
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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Key Questions Answered in This Report.
• What will the Market growth rate in Future?
• What are the key factors driving the global Market?
• Who are the key manufacturers in Market space?
• What are the opportunities and threats faced by the vendors in the global industry?
• What are sales, revenue, and price analysis by regions of industry?
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