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Automotive Stainless Steel Tube Market Size, Share, Analysis, Growth, Trends and Outlook, Forecast 2023-2030
Automotive Stainless Steel Tube Market-DataM Intelligence 4Market Research
The global automotive stainless steel tube market is growing at a High CAGR during the forecast period (2023-2030).
The automobile sector uses stainless steel tubes extensively for a variety of purposes. Among the many important benefits of stainless steel are its cheap cost, great tensile strength, and resistance to corrosion. Exhaust systems, fuel lines, hydraulic lines, brake lines, and roll cages are just a few of the uses for automotive stainless-steel tubes in car manufacture.
The superior heat and corrosion resistance of austenitic stainless steel makes it a popular choice for automotive applications. For the production of automobile components, the most popular grades of stainless steel are AISI 304, AISI 316, and AISI 409.
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Market Drivers: Rising global demand for automobiles
Emerging-market economic expansion has resulted in better social circumstances and growing earnings. It has raised the demand for passenger automobiles. In response to increased demand, automakers are making a variety of measures. Companies are introducing new automobiles at low costs and forming alliances with banks and financial organizations to provide appealing financing options for vehicle customers.
Automobile manufacturers are increasing output to meet surging demand. As automobile manufacturing expands, so does the need for stainless steel tubes to build numerous components and subsystems. Rising worldwide vehicle demand is a major driver of the automotive stainless steel tube market.
Market Segmentation:
OEM and aftermarket markets divide the worldwide automotive stainless steel tube market. OEM dominates this category because it uses the most automotive stainless steel tubes during car manufacture.
OEMs make automobile systems from stainless steel due of its corrosion resistance and mechanical robustness. Exhaust systems commonly employ corrosion-resistant stainless steel tubing. Due to their corrosion resistance and fuel pressure resistance, stainless steel tubes may transfer gasoline in vehicles. In the vehicle's hydraulic system, stainless steel tubes deliver fluids under pressure.
Market Companies:
Nippon Steel Corporation, POSCO, JFE Steel Corporation, Thyssenkrupp AG, ArcelorMittal, Sandvik AB, Outokumpu, The Fischer Group, Salzgitter AG and Centravis.
By Type
• Welded
• Seamless
• Others
By Application
• Exhaust System
• Motor and Fuel System
• Structural Composition
• Others
By End-User
• OEM
• Aftermarket
By Region
• North America
• Latin America
• Europe
• Asia Pacific
• Middle East and Africa
Geographical Share:
North America is a developed and industrialized area with a large car market. Global automakers are pioneering the adoption of innovative vehicle technology. The worldwide market is seeing the introduction of battery electric cars, fuel cell vehicles, and hybrid automobiles. The worldwide automotive stainless steel tube market will expand steadily in the next years.
Industry Developments:
In November 2022, ArcelorMittal Nippon Steel, the joint venture of ArcelorMittal and Nippon Steel corporation in India, announced the commencement of expansion works worth ₹60,000 crores at its steelmaking plant in Hazira, Gujarat, India
Related Reports:
Automotive Battery Thermal Management System Market- https://www.datamintelligence.com/research-report/automotive-battery-thermal-management-system-market
Automotive DC-DC Converters Market- https://www.datamintelligence.com/research-report/automotive-dc-dc-converters-market
Vehicle Subscription Market - https://www.datamintelligence.com/research-report/vehicle-subscription-market
Electric Vehicle Connectors Market- https://www.datamintelligence.com/research-report/electric-vehicle-connectors-market
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Company Name: DataM Intelligence
Email: info@datamintelligence.com
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Website: https://www.datamintelligence.com
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DataM Intelligence 4Market Research is a Market Research and Consulting firm that provides end-to-end business solutions to organizations from Research to Consulting. We, at DataM Intelligence, leverage our top trademark trends, insights and developments to emancipate swift and astute solutions to clients like you. We encompass a multitude of syndicate reports and customized reports with a robust methodology.
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