The global Automotive Metal Market was valued at $92.34Billion in 2018 and is forecast to grow at a modestxx.3 % CAGR between 2018 and 2025, culminating in 2026 global sales of $135.8Billion.
Automotive industries have identified the use of light weighting as a response to increasing pressure to reduce emissions & improve fuel economy. Automotive Metal is formed by an industrial process into thin, flat pieces which can be bent & cut into a variety of shapes. The most common sheet metal is used in automotive to make bodies is steel. It is reasonably cheap & easy to press into shape to make body parts. Aluminum is also used automotive metal because it is lighter but harder to bend into tight shapes without cracking, it is also harder to weld in mass production. About 60 % of a car weights made from steel. Globally 100 million metric tons of metal consumed annually by the auto market in which 87 million tons of steel are majorly used for the purpose high strength, low cost, easy to produce. Technological advancement in automotive industries has led to increasing use of magnesium & aluminum alloys. Steel sheet metal are expected to account for about 28 % of materials are used in the production of passenger vehicles by 2026
“Optimal Price Point (OPP) for Automotive Metal Products”
Estimated Average product/ service cost – $ xx globally. However, with improving access and availability of options, OPP and range of acceptable Prices (RAP) are going to change. We at Ameri Research continuously track these prices with our proprietary pricing model.
Due to the wide array of products available in the market, pricing, positioning, and sales channel optimization play a vital role in the success of a product. On an average, in the China Automotive Metal materials are available at USD xxx- USD xxxx. However, the high-end products are available at much higher prices. The prices in emerging countries and developed countries vary significantly due to the difference in purchasing power and availability of latest products.
Automotive Metal Market by “Product Categories”
We have segmented the Automotive Metal Market based on product categories as Steel, Aluminum, Magnesium, Other automotive metals.
We have observed the significant growth of automotive metal market by steel products which dominates the market with the highest share in terms of revenue. Selection of steel is primarily depended on the strength required & formability. Steel with excellent formability for sheet metal works like roofs & side panel. AISI 1020 grade is a low hardenability & low tensile carbon steel with Brinell hardness of 119 – 235 & tensile strength of 410-790 Mpa which demand the market of automotive metal during the forecast cast period.
Aluminum & magnesium is likely to witness fastest CAGR of 9.7 % in terms of revenue from 2018 to 2026 due to its intrinsic feature & properties. Aluminum& magnesium product which dominate the automotive market because it is lighter but harder to bend into tight shapes without cracking, it is also harder to weld in mass production. Aluminum usage in automotive industry has grown within past years for body structures, closures & exterior attachments such as door, bonnet, crossbeams. Magnesium is an attractive material for automotive use because of its light weight & has the highest strength to weight ratio of all structural metal which boost the market grow during the forecast period.
Automotive Metal Market by “Application”
We have segmented the Automotive Metal market based on Application are Body Structure, Power train, Suspension, Other applications.
We have observed the significant growth of automotive metal market by the application of body structure which boost the demand of this segment growth of 6.8 % in terms of revenue from 2017 to 2025. Body structure the most important criteria that a material should meet are economic effectiveness, lightweight, recyclability, & lifecycle consideration which boost the demands of automotive metal market during the forecast period.
Automotive Metal Market by “End-Use”
We have segmented the Automotive Metal market based on end-use as Passenger Cars, Light commercial vehicles, Heavy commercial vehicles.
We have observed the significant growth of automotive metal market by the end-use of a passenger car which dominates the market over the forecast period & expected to grow over 4.6 % in terms of volume.
China and India accounted for the maximum revenue share of over xx% in 2017 due to increased demand of Automotive Metal materials followed by EU- Top 5 countries contribute $X.6 Billion in 2017 and expected to reach $x.5 Billion by 2023.
Rapid growth of industries in field of automotive machinery metal fabrications and availability of Automotive Metal materials option, create an impact in developing countries for demand of passenger & commercial vehicles
“Competitive Landscape”and“Merger & Acquisition Insights”
The key market participants include China Steel Corporation, Hyundai Steel Co., Ltd, Allegheny Technologies, Nippon Steel & Sumitomo Metal Corporation, Alcoa, Kaiser Aluminum, ThyssenKrupp AG, United States Steel Corporation are few major players in Automotive Metal markets. The Automotive Metal market is fragmented with large number of global & local players. Merger &Acquisitions, collaborations & new products launch are some of the major strategies adopted by key market players. Apart from this innovations & new product development are major focus area for dominant companies.
Automotive Metal Market by product Categories(Revenue, Million, 2018 – 2026)
- Other automotive metals
Automotive Metal Market by Application (Revenue, Million, 2018 – 2026)
- Body Structure
- Power train
- Other applications
Automotive Metal Market by End-Use (Revenue, Million, 2018 – 2026)
- Passenger Cars
- Light commercial vehicles
- Heavy commercial vehicles
Automotive Metal Market Regional Outlook (Revenue, USD Million, 2018- 2026)
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
- South Africa
- Saudi Arabia
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