Automotive Metal Market Report & Analysis | 2018-2024
Date: 2018-12-26   Author: Rahul Varpe  Category: #market

Automotive Metal Market Report & Analysis | 2018-2024

Asia Pacific dominates overall automotive metal market owing to largest automobile production industry leading to high raw material demand. Countries contributing to the regional growth are China & India with highest demand and high growth rate. High passenger vehicle demand will increase raw material consumption during the forecast period.

North America is expected to witness significant growth during the forecast timeframe owing to presence of several vehicle manufacturers in the region. Relaxation in regulations regarding standards for reducing greenhouse emissions and vehicle fuel efficiency goals by Trump government will support the industry growth. Moreover, government reviewing other standards related to vehicle emission and border adjustment tax is also expected to affect the industry growth in the region.

Request for table of contents of this report @ https://www.gminsights.com/request-toc/upcoming/2320

Automotive Metal Market Size will experience steady growth owing to increasing vehicle demand across the globe. Surge in passenger vehicle demand backed by increasing disposable income in developing economies primarily drive the demand for raw material used in automotive industry. Increasing vehicle demand has led increasing vehicle production which drives the demand for automotive metal market. Significant use of metals in auto components such as chassis, engine, roof, panels, wheels, brake, radiator will increase automotive metal market share during forecast period.

Stringent government regulations for reducing vehicle emission has led to OEMs demanding light weight materials for their vehicle production. Demand of light weight steel, aluminum & magnesium and technological advancements focused towards increasing material strength will support the industry growth.

Make an inquiry for purchasing this report @ https://www.gminsights.com/inquiry-before-buying/2320

On the basis of product, automotive metal market is categorized in to steel, aluminum, magnesium. High usage of steel in automotive manufacturing owing to superior strength will drive the demand for steel during forecast period. According to World Steel Association, overall body weight of passenger car contains of 55-65 % steel weight and average light truck or SUV contains 3000 pounds of metal. Increasing usage of magnesium alloys in vehicle interior parts will support the revenue generation from this segment.

Aluminum will exhibit significant growth rate owing to its lightweight and high recyclability. manufacturers focusing on overall vehicle weight reduction are increasing using aluminum over other metals will drive the demand.

Based on applications, automotive metal market is classified as body structure, power train and suspension. Body dominates the overall market and is expected to witness considerable growth during the study period. The growth is attributed to ease of maintenance & repair of stamped body parts and high recyclability compared to other alternatives. Growth in suspension is credited to increasing use of alloys for manufacturing suspension of armored vehicles.

Browse Complete Report Summary @ https://www.gminsights.com/industry-analysis/automotive-metal-market

Major manufacturing companies are Tata steels, Hyundai steel, Essar steel, Thyssenkrupp AG, Novalis, Posco, Voestalpine Group, Nippon steel & Sumitomo Metal corporation, United steel corporation, ArcellorMittal, UACJ Corporation, Kobe Steel, AMG Advanced Metallurgical Group, Constellium NV,Massey Ferguson Ltd. and Norsk Hydro among others. The companies focus on new product development to increase strength to weight ratio of metal. For instance, in November 2016, ArcellorMittal launched new generation of advanced high strength steels for automotive applications.
About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

Contact Us:

Contact Person: Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone:1-302-846-7766
Toll Free: 1-888-689-0688
Email: [email protected]  
Web: https://www.gminsights.com



About Author


Rahul Varpe

Rahul Varpe

Rahul Varpe currently writes for AlgosOnline. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products online. ...

Read More

More from Rahul


Post Recommendents

Off-the-shelf Automated Workcells Market Size, Historical Growth, Analysis, Opportunities and Forecast To 2024
Author: Partha Ray

The ' Off-the-shelf Automated Workcells market' study now available at MarketStudyReport.com, is a detailed sketch of the business sphere in terms of current and future trends driving the profit matrix. The report also indicates a pointwis...


Trends of Lab Single-mode Microplate Readers Market Reviewed for 2019 with Industry Outlook to 2024
Author: Partha Ray

The ' Lab Single-mode Microplate Readers market' research report is latest addition by Market Study Report, LLC, that elucidates relevant market and competitive insights as well as regional and consumer information. In a nutshell, the rese...


Worldwide Multi-mode Microplate Readers Market Forecast 2019-2024 Growth Drivers, Regional Outlook
Author: Partha Ray

Market Study Report, LLC, has added an exhaustive research study of the ' Multi-mode Microplate Readers market', detailing every single market driver and intricately analyzing the business vertical. This ' Multi-mode Microplate Readers...