Global Automotive Aluminum Market, By Product Form (Cast Aluminum, Rolled Aluminum, Extruded Aluminum), Vehicle Type (Passenger Cars, Light Commercial Vehicles (LCV), Heavy Commercial Vehicles (HCV)), Application (Powertrain, Chassis and Suspension, Car Body), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2029
Market Analysis and Insights of Automotive Aluminum Market
The automotive aluminum market is expected to gain market growth in the forecast period of 2022 to 2029. Data Bridge Market Research analyses the market to grow at a CAGR of 8.90% in the above-mentioned forecast period.
Automotive aluminum is basically derived from bauxite and is a type of aluminium sulphate, which contains a variety of elements including vanadium oxides, silicon, aluminium hydroxide, titanium, chromium, sulphur, sulfuric calcium, gallium, iron, and magnesium carbonates. Aluminum is significantly lighter than steel, has high tensile strength, and is simple to mould.
The increasing growth of automotive industry will lead to raise rules and regulations for fuel efficiency and emission and improvement in driving dynamics are the root cause fueling up the market growth rate in the forecast period of 2022 to 2029. The factors expected to cushion the growth of the automotive aluminum market in the forecast period are the increasing demand for electric vehicles and adoption of new system that will provide comfort and safety which will further carve the way for the growth of market. Moreover, its extensive usage due do its properties such as the owing to properties like thermal and electrical conductivity, corrosion resistance, recyclability, and high strength are further expected to cushion the overall markets growth. On the other hand, the higher manufacturing cost of aluminum over steel are expected to impede the growth of the automotive aluminum market in the forecast period of 2022 to 2029. The rising production cost of vehicles is also projected to hamper market’s overall growth.
The growing government concerns regarding the emission of toxic gases as well as vehicle safety concerns are estimated to generate numerous opportunities for the market. On the flip side, the easy availability of product substitutes is projected to pose as a major challenge to the growth of the automotive aluminum market in the forecast period of 2022 to 2029.
This automotive aluminum market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on automotive aluminum market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Automotive Aluminum Market Scope and Market Size
The automotive aluminum market is segmented on the basis of product form, vehicle type and application. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target market.
- On the basis of product form, the automotive aluminum market is segmented into cast aluminum, rolled aluminum and extruded aluminum. Cast aluminum is further segmented into die casting, permanent mold casting and sand casting. Rolled aluminum is further segmented into aluminum plate, aluminum sheet and aluminum foil.
- Based on vehicle type, the automotive aluminum market is segmented into passenger cars, light commercial vehicles (LCV) and heavy commercial vehicles (HCV).
- Based on the application, the automotive aluminum market is segmented into powertrain, chassis and suspension and car body. Powertrain is further segmented into pistons, engine blocks, fuel systems, heat shields and heat exchangers. Chassis and suspension is further segmented into suspension parts, wheels, steering system and break systems. Car body is further segmented body structure, roof and trim, car interiors and hang-on parts.
Automotive Aluminum Market Country Level Analysis
The automotive aluminum market is analyzed and market size, volume information is provided by product form, vehicle type and application as referenced above.
The countries covered in the automotive aluminum market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the automotive aluminum market owing to the implementation of corporate average fuel economy standards which gives direction to the automobile companies to maintain fuel efficiency within the region. Asia-Pacific on the other hand, will continue to however show lucrative growth within the forecast period owing to the rising investment which further creates demand for automobile in India and China in the forecast period of 2022 to 2029.
The country section of the automotive aluminum market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Automotive Aluminum Market Share Analysis
The automotive aluminum market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to automotive aluminum market.
Some of the major players operating in the automotive aluminum market report are Aditya Birla Management Corporation Pvt. Ltd., Alcoa Corporation, Constellium, AMG Aluminium, UACJ Corporation., Norsk Hydro ASA, Rio Tinto, Novelis Aluminum.™, Aluminium Corp, ElringKlinger, Progress-Werk Oberkirch AG, Dynacast, Farinia Group, Aluminium Bahrain (Alba)., Gränges, GIBBS, Endurance Technologies Limited., RYOBI Aluminium Casting (UK) Ltd, CITIC Dicastal Co., Ltd, and Vedanta Resources Limited among others.
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