A recent report published by Infinium Global Research on automotive metal market provides in-depth analysis of segments and sub-segments in the global as well as regional automotive metal market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional automotive metal market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global automotive metal market. According to the report, the global automotive metal market is projected to grow at a CAGR of 5.9% over the forecast period of 2019-2025.
Automotive metal includes steel, aluminum, and other metals. Steel is used in most automotive parts of the vehicle due to its strength and most affordable material. Nowadays aluminium and other metals are also used in various vehicle part due to high recyclability and light in weight. Magnesium alloy is also used in the interior part of the vehicle. Aluminium is a light that helps to reduce fuel consumption and reduce CO2 emission.
Enhancement in the automotive industry by adopting new technologies along with innovations in the new design as per consumer preference is the factor driving the growth of the global automotive metal market. Increasing demand for lightweight cars for fuel efficiency propels the growth of the automotive metal market. On the other hand, the availability of substitute product such as plastics and carbon fiber in the market may restrict the growth of the global automotive metal market. Moreover, the adoption of advanced technologies such as connected or autonomous vehicles creates an opportunity for the growth of the global automotive metal market. High demand for the electric vehicle will increase the requirement for the material in the coming years.
Geographically, Asia Pacific region dominates by the largest market share in the automotive metal market due to the adoption of advanced technologies by the manufacturer that creates new designs and manufacturing processes as per consumer demand. Asia Pacific region expected to boost the growth of the automotive metal market due to the adoption of electric vehicles. In Asia-Pacific, China holds the highest share followed by Japan and India. An increasing number of vehicle sales in China fuels the growth of the automotive metal market. Furthermore, North America held the second largest market share owing to growth in the automotive sector. Presence of major manufacturer in the North America region is the factor that boosts the growth of the automotive metal market. In North America, the U.S accounted for the highest share followed by Canada and Mexico.
The report on global automotive metal market covers segments such as product, application, and end-use. On the basis of product, the sub-markets include aluminum, magnesium, steel, and other products. On the basis of application, the sub-markets include power train, suspension, body structure, and other applications. On the basis of end-use, the sub-markets include passenger cars, and commercial cars.
The report provides profiles of the companies in the market such as POSCO, Tata Steel Limited, ArcelorMittal S.A., Voestalpine AG, thyssenkrupp AG, Essar Group, Novelis Inc., United States Steel Corporation, Nippon Steel Group, Hyundai Steel Co., Ltd, and Other Companies.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of automotive metal market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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