Global Automotive Aluminum Alloy (OE) Market, By Application (Engine Component, Wheels, Driveline, Heat Exchanger, Body, Others), Electric Vehicle (Battery Electric Vehicle, Hybrid Electric Vehicle, Plugin Hybrid Electric Vehicles), Vehicle Type (Passenger Vehicles, Light Commercial Vehicle, Heavy Commercial Vehicle, Electric Vehicle), Sales Channel (OEM Market, After OEM Market), 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 2028
Market Analysis and Insights : Global Automotive Aluminum Alloy (OE) Market
The automotive aluminum alloy (OE) market is expected to witness market growth at a rate of 3.80% in the forecast period of 2021 to 2028 and is expected to reach USD 8,851.13 billion by 2028. Data Bridge Market Research report on automotive aluminum alloy (OE) market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecast period while providing their impacts on the market’s growth. The increasing incorporation of lightweight parts in automotive to decrease fuel consumption is escalating the growth of automotive aluminum alloy (OE) market.
Aluminum is being utilized in the body and different parts of vehicles by manufacturers for light weighting their vehicles leading to better fuel efficiency. Aluminum casting, extrusion, forging and sheets are used to manufacture car including chassis, suspensions, closures and wheels among others and are extensively utilized in modern cars. The employment of aluminum assists in saving of up to 50% of weight when compared to other materials that are used in vehicles. Light weighting helps in improving road handling by reducing the weight of the vehicle, downsizing of breaks and increasing vehicle stability. Manufacturers are emphasizing on reducing mass of the vehicle to achieve benefits.
The developments and advancements in the transportation sector, high utilization of aluminum in vehicle manufacturing application and technological advancements in aluminum manufacturing technologies and processing equipment are the major factors driving the automotive aluminum alloy (OE) market. The high adoption of aluminum alloy because of its ability reducing the load on the vehicle, the limited power is required by the engine to drive the vehicle and the increasing need for fuel efficiency across the globe accelerate the automotive aluminum alloy (OE) market growth. The increasing production of lightweight vehicles with aluminum alloys by automobile manufacturers, the reduction in vehicle’s weight enables OEMs to reduce emissions, improve fuel efficiency and driving dynamics for the end users and growing pollution globally influence the automotive aluminum alloy (OE) market. Additionally, changing regulatory requirements, rapid urbanization, rise in the disposable income of people and rising demand for fuel-efficient vehicles positively affect the automotive aluminum alloy (OE) market. Furthermore, technological advancement in the application extends profitable opportunities to the automotive aluminum alloy (OE) market players in the forecast period of 2021 to 2028.
On the other hand, high cost associated with the technology and engineering barriers are the factors expected to obstruct the automotive aluminum alloy (OE) market growth. The negative impact of COVID-19 on the manufacturing industries among others is projected to challenge the automotive aluminum alloy (OE) market in the forecast period of 2021 to 2028.
This automotive aluminum alloy (OE) 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 alloy (OE) market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Automotive Aluminum Alloy (OE) Market Scope and Market Size
The automotive aluminum alloy (OE) market is segmented on the basis of application, electric vehicle, vehicle type and sales channel. 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 markets.
- On the basis of application, the automotive aluminum alloy (OE) market is segmented into engine component, wheels, driveline, heat exchanger, body and others.
- On the basis of electric vehicle, the automotive aluminum alloy (OE) market is segmented into battery electric vehicle, hybrid electric vehicle and plugin hybrid electric vehicle.
- On the basis of vehicle type, the automotive aluminum alloy (OE) market is segmented into passenger vehicles, light commercial vehicle, heavy commercial vehicle and electric vehicle.
- On the basis of sales channel, the automotive aluminum alloy (OE) market is segmented into OEM market and after OEM market.
Global Automotive Aluminum Alloy (OE) Market Country Level Analysis
The automotive aluminum alloy (OE) market is analyzed and market size, volume information is provided by country, application, electric vehicle, vehicle type and sales channel as referenced above.
The countries covered in the globally automotive aluminum alloy (OE) market report are the 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.
Asia-Pacific dominates the automotive aluminum alloy (OE) market because of the presence of a prominent automotive industry in the developing nations, high vehicle production and increasing production and sales of electric vehicles, especially in China. Europe is expected to witness significant growth during the forecast period of 2021 to 2028 because of the high usage of aluminum is used in vehicles, increase in the number of lightweight vehicles and the implementation of stringent emission norms in the region.
The country section of the 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 Alloy (OE) Market Share Analysis
The automotive aluminum alloy (OE) 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 alloy (OE) market.
The major players covered in the automotive aluminum alloy (OE) market report are Norsk Hydro ASA, thyssenkrupp AG, KOBE STEEL, LTD., AMG Advanced Metallurgical Group N.V., Constellium, NIPPON STEEL CORPORATION, AGCO Corporation, ArcelorMittal, Alcoa Corporation, Novelis Deutschland GmbH, UACJ Corporation, Arconic, AUSTEM COMPANY LTD., Bharat Forge, FLEX-N-GATE CORPORATION, GORDON, KIRCHHOFF Automotive GmbH, Magna International Inc. among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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