Press release
Magnesium Automotive Parts Market Landscape to 2034: Key Forces Shaping the Next Decade of Growth
Magnesium Automotive Parts
_x000D_
How Large Will the Magnesium Automotive Parts Market Size By 2025?_x000D_
In recent times, there has been a robust growth in the size of the magnesium automotive parts market. The market value, which was $2.49 billion in 2024, is projected to increase to $2.73 billion in 2025, marking a compounded annual growth rate (CAGR) of 9.7%. The historic period witnessed growth due to several factors including, widespread adoption of electric vehicles, increased focus on fuel efficiency, growth of car production in emerging markets, a spike in consumer preference for high-performance vehicles, and enhanced regulatory pressure for emission reduction._x000D_
_x000D_
How Big Is the Magnesium Automotive Parts Market Size Expected to Grow by 2029?_x000D_
In the coming years, the market for automotive parts made of magnesium is predicted to witness significant expansion. By 2029, the market is projected to increase to $3.90 billion, with a compound annual growth rate (CAGR) of 9.3%. This growth during the forecast period can be traced back to the escalating application of magnesium in structural vehicle components, growing appetite for luxury and sports cars, increasing emphasis on eco-friendly materials, a burgeoning aftermarket demand for lighter parts, and a rising trend of advanced manufacturing techniques adoption. Key market trends for the forecast period encompass technological progression in magnesium casting and machining, advancements in magnesium-based alloys, studies and evolution in recyclable magnesium materials, development of less heavy automotive structures, and investment in intelligent manufacturing and automation._x000D_
_x000D_
View the full report here: _x000D_
https://www.thebusinessresearchcompany.com/report/magnesium-automotive-parts-global-market-report_x000D_
_x000D_
Which Key Market Drivers Powering Magnesium Automotive Parts Market Expansion and Growth?_x000D_
The growth of the magnesium automotive parts market is anticipated to be fueled by the increasing demand for electric vehicles (EVs). EVs, vehicles powered by electric motors and rechargeable batteries, serve as an eco-friendly substitute to conventional internal combustion engines. Enhanced governmental environmental measures and diminishing battery prices are driving the demand for EVs, as global policymakers establish targets for emission reduction and advancements in technology make EVs more economical and accessible for users. Magnesium automotive parts aid electric vehicles by lowering the total vehicle weight, thereby boosting energy efficiency and expanding driving distance. These parts also promote performance, aid in battery lifespan, and contribute to more sustainable and cost-efficient EV manufacturing. For example, the U.S. Department of Energy, a federal agency in the United States, reported in February 2024 that a monthly comparison of EV sales over the past three years reveals that sales each month increased significantly compared to the same month the previous year. The highest monthly sales touched roughly 50,000 vehicles in 2021, about 80,000 in 2022, and surpassed 100,000 in 2023. Hence, the escalating demand for electric vehicles is stimulating the growth of the magnesium automotive parts market._x000D_
_x000D_
Get your free sample here:_x000D_
https://www.thebusinessresearchcompany.com/sample.aspx?id=28703&type=smp_x000D_
_x000D_
Which Fast-Growing Trends Are Poised to Disrupt the Magnesium Automotive Parts Market?_x000D_
High-profile entities active in the magnesium auto parts market are harnessing advanced methods like semi-solid processing to boost durability, minimize weight, and amplify sustainability. The semi-solid process is a production technique that molds metal alloys in a half-solid, half-liquid state, which aids in improving fluidity, casting quality, mechanical durability, and energy efficiency. For example, in December 2024, SAIC Motor Corp. Ltd., a Chinese automotive production firm, unveiled its second-gen magnesium alloy case for electric drive assemblies, becoming the first to mass-manufacture such a case using semi-solid processing worldwide. This breakthrough significantly lightens weight, improves strength, ductility, and corrosion resistance, and paves the way for large-scale use in new energy vehicles, enhancing the company's commitment to lightweight, sustainable, and energy-efficient transportation solutions. The use of semi-solid processing also extinguishes the requirement for protective gases and minimizes aggregate energy expenditure during manufacturing, complying with international green production standards. Importantly, this development doesn't just expedite the light-weighting of electric vehicles, it established new benchmarks for the magnesium alloy sector and reaffirmed China's notable position in magnesium material innovation, solidifying its leadership in the worldwide automotive supply chain._x000D_
_x000D_
What Are the Emerging Segments in the Magnesium Automotive Parts Market?_x000D_
The Magnesium Automotive Parts market covered in this report is segmented as_x000D_
_x000D_
1) By Type: Die-Cast Magnesium Parts, Extruded Magnesium Components, Sheet Magnesium Parts, Magnesium Alloys_x000D_
2) By Manufacturing Process: Sand Casting, Investment Casting, Cold Chamber Die Casting, Hot Chamber Die Casting_x000D_
3) By Vehicle Type: Passenger Vehicles, Commercial Vehicles, Electric Vehicles, Sport Utility Vehicle (SUVs) And Crossovers_x000D_
4) By Application: Structural Components, Engine Components, Transmission Parts, Interior And Exterior Trim_x000D_
5) By End-User Industry: Original Equipment Manufacturers (OEMs), Aftermarket Suppliers, Product Manufacturers, Automotive Parts Distributors_x000D_
_x000D_
Subsegments:_x000D_
1) By Die-Cast Magnesium Parts: Gearbox Housings, Steering Components, Electronic Housings, Cooling System Components_x000D_
2) By Extruded Magnesium Components: Chassis Components, Suspension Components, Frame Components, Reinforcement Components_x000D_
3) By Sheet Magnesium Parts: Body Panels, Floor Panels, Door Panels, Roof Panels_x000D_
4) By Magnesium Alloys: High Strength Magnesium Alloys, Corrosion Resistant Magnesium Alloys, Lightweight Magnesium Alloys, Heat Treated Magnesium Alloys_x000D_
_x000D_
Tailor your insights and customize the full report here:_x000D_
https://www.thebusinessresearchcompany.com/customise?id=28703&type=smp_x000D_
_x000D_
Who Are the Global Leaders in the Magnesium Automotive Parts Market?_x000D_
Major companies operating in the magnesium automotive parts market are ThyssenKrupp AG, Yamaha Motor Co. Ltd., Bühler AG, Georg Fischer AG, Zhejiang Wanfeng Auto Wheel Co. Ltd., Handtmann Metallgusswerk GmbH, Xometry Inc., Sandhar Technologies Limited, Spartan Light Metal Products Inc., Luxfer Holdings PLC, Pace Industries Inc., Chicago White Metal Casting Inc., Twin City Die Casting Company, Morimura Bros Inc., Mag Specialties Inc., Kobe Steel Ltd., Hindustan Magnesium Products Private Limited, Zibo Deyuan Metal Materials Co. Ltd., TEDA Laukötter Technologie GmbH, Mifa AG _x000D_
_x000D_
Which are the Top Profitable Regional Markets for the Magnesium Automotive Parts Industry?_x000D_
Asia-Pacific was the largest region in the magnesium automotive parts in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in magnesium automotive parts report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa._x000D_
_x000D_
Purchase the full report today:_x000D_
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=28703_x000D_
_x000D_
This Report Supports:_x000D_
1.Business Leaders & Investors - To identify growth opportunities, assess risks, and guide strategic decisions._x000D_
2.Manufacturers & Suppliers - To understand market trends, customer demand, and competitive positioning._x000D_
3.Policy Makers & Regulators - To track industry developments and align regulatory frameworks._x000D_
4.Consultants & Analysts - To support market entry, expansion strategies, and client advisory work._x000D_
_x000D_
Learn More About The Business Research Company_x000D_
With over 17500+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Armed with 1,500,000 datasets, the optimistic contribution of in-depth secondary research, and unique insights from industry leaders, you can get the information you need to stay ahead. _x000D_
Our flagship product, the Global Market Model (GMM), is a premier market intelligence platform delivering comprehensive and updated forecasts to support informed decision-making._x000D_
_x000D_
Reach out to us:_x000D_
The Business Research Company: https://www.thebusinessresearchcompany.com/_x000D_
Americas +1 310-496-7795_x000D_
Europe +44 7882 955267_x000D_
Asia & Others +44 7882 955267 & +91 8897263534_x000D_
Email us at info@tbrc.info_x000D_
_x000D_
Follow Us On:_x000D_
LinkedIn: https://in.linkedin.com/company/the-business-research-company _x000D_
Twitter: https://twitter.com/tbrc_info _x000D_
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Connect with us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ.
Contact Us
Europe: +44 207 1930 708,
Asia: +91 88972 63534,
Americas: +1 315 623 0293 or
Email: mailto:info@tbrc.info
Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Magnesium Automotive Parts Market Landscape to 2034: Key Forces Shaping the Next Decade of Growth here
News-ID: 4235366 • Views: …
More Releases from The Business Research Company
2025-2034 Air-Dropped Micro-Unmanned Aerial Vehicle (UAV) Dispenser Market Evolu …
Use code ONLINE20 to get 20% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Is the Expected CAGR for the Air-Dropped Micro-Unmanned Aerial Vehicle (UAV) Dispenser Market Through 2025?
The market size for air-dropped micro unmanned aerial vehicle (UAV) dispensers has experienced a significant increase in recent years. The market is projected to grow from $0.76 billion in 2024 to $0.86…
The Rise In Smart City Initiatives Driving The Growth Of The Market Due To Rapid …
Use code ONLINE20 to get 20% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Will the Drone Identification System Industry Market Size Be by 2025?
The market size for drone identification systems has seen a rapid expansion in the past years. Projected growth from $1.24 billion in 2024 to $1.48 billion in 2025, or a compound annual growth rate (CAGR) of…
Soaring Demand Set to Propel 3-Dimensional NAND-XPoint Hybrid Display Market to …
Use code ONLINE20 to get 20% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Is the Expected CAGR for the 3-Dimensional NAND-XPoint Hybrid Display Market Through 2025?
The market size for 3-dimensional NAND-XPoint hybrid displays has seen rapid expansion in recent times. Expected to rise from $3.66 billion in 2024 to $4.25 billion in 2025, this represents a compound annual growth…
2025-2034 Disposable Battery Market Outlook: Key Drivers, Emerging Challenges, a …
Use code ONLINE20 to get 20% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Will the Disposable Battery Industry Market Size Be by 2025?
The market size for disposable batteries has seen significant growth in the past few years. The value is expected to rise from $18.28 billion in 2024 to $19.43 billion in 2025, demonstrating a compound annual growth rate…
More Releases for Mag
Anti-MAG Peripheral Neuropathy Treatment Market - Industry Trends and Forecast
The global anti-MAG peripheral neuropathy treatment market is projected to witness significant growth during the forecast period. Increase in the demand from developing economies will uplift the market growth, also rise in the prevalence of the disease, increase in the R&D activities in the market and rise in the consumption of junk food which causes weak immunity in the population acts as some of the major factors among others driving…
MAG Welding Robots Market Analysis and Future Prospects for 2030
The world of the mag welding robots market is a complex and ever-evolving landscape, shaped by consumer demands and technological advancements. In this report, we delve into the depths of this market to provide a profound and comprehensive analysis, catering to a diverse audience that includes manufacturers, suppliers, distributors, and investors. Our primary goal is to empower industry stakeholders with invaluable insights to make informed decisions in a rapidly changing…
Child Safety Lock Market | Dreambaby, KidCo, Lindam, Mag Security
The global child safety lock market report is a comprehensive report that provides a detailed analysis of the current status and future trends of the child safety lock market worldwide. This report provides valuable information to industry stakeholders by offering an in-depth perspective on market dynamics, competitive landscape, growth opportunities, and key challenges faced by industry participants.
From the perspective of market dynamics, this report explores the factors driving the growth…
Tabletop Centrifuge Market | Centruion, Digisystemlab, EKF Diagnostics, Elektro- …
The global tabletop centrifuge market report is a comprehensive report that provides a detailed analysis of the current status and future trends of the tabletop centrifuge market worldwide. This report provides valuable information to industry stakeholders by offering an in-depth perspective on market dynamics, competitive landscape, growth opportunities, and key challenges faced by industry participants.
From the perspective of market dynamics, this report explores the factors driving the growth of the…
US Transcranial Magnetic Stimulator (TMS) Market Competition by Company, Country …
The Transcranial Magnetic Stimulator (TMS) market was valued at US$ 309.53 million in 2020 and is projected to reach US$ 631.29 million by 2028; it is expected to grow at a CAGR of 9.4% from 2021 to 2028.
The major factors such as the growing prevalence of neurological disorders, increasing geriatric population and neurological disorders associated with age, and presence of well-established healthcare facilities drive the growth of the transcranial magnetic…
MAG IAS GmbH – new ownership structure and credit facility
- Mo Meidar transfers shares of parent company MAG Europe GmbH to trust entities
- Transfer opens up possibility for new investor to step in and strengthen the operational business
- Credit facilities adapted to support current growth, management and financial partners working on long-term financing agreements
Göppingen, November 24, 2011 – The shares of MAG Europe GmbH, parent company of MAG IAS GmbH, have been transferred to German trust entities. The new…
