According to Stratistics MRC, the Global Automotive Alloy market is estimated at $126.13 billion in 2016 and is expected to reach $233.44 billion by 2023 growing at a CAGR of 9.1% from 2015 to 2022. Rapid urbanization, rising fuel prices, strict environmental rules and increasing demand for light weight vehicles are some of the key factors favoring the market growth. However, huge cost of the automotive alloy is hampering the market. The increasing demand for electric vehicles (EV) is creating huge opportunities for the automotive alloy market.
By Alloy type the steel segment is anticipated to hold the largest market share owing to large usage of steel alloys in the production of vehicle especially in the developing countries such as China and India. The usage of steel helps the automobile manufacturers to achieve desired standards of strength and safety for their vehicles at relatively low costs. Steel is the most strongest and affordable material available today for its application in automobiles and it can be engineered in a lot of different ways to meet the needs of crash safety and the performance of the vehicle.
Geographically, Asia Pacific is the leading market owing to rise in vehicle production, soaring demand for light weight vehicles, rapid urbanization and development in the economic growth of the countries. China, India, Indonesia, Thailand and South Korea are the countries which contribute to the growth of the market in the region. In addition, due to the presence of large population in China and India the increase in automobile sales is very high.
Some of the key players in the automotive alloy market are Thyssenkrupp AG, Sumitomo Metal Corporation, AMG Advanced Metallurgical Group, UACJ Corporation, Arcelormittal SA, Nippon Steel & Sumitomo Metal Corp., Constellium N.V., Alcoa Inc., Norsk Hydro ASA, Novelis, Inc. and Kobe Steel, Ltd.
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• Other Applications
Alloy Types Covered:
• Other Alloy Types
Vehicle Types Covered:
• Heavy Commercial Vehicles (HCV)
• Passenger Cars
• Light Commercial Vehicles (LCV)
- North America
- Rest of Europe
- Asia Pacific
- New Zealand
- South Korea
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country level segments
- Market share analysis of the top industry players
- Strategic recommendations for the new entrants
- Market forecasts for a minimum of 7 years of all the mentioned segments, sub segments and the regional markets
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
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