NEW YORK, Nov. 18, 2022 /PRNewswire/ — Trends, opportunities and forecast in aluminum in automotive market to 2027 by vehicle type (Small Cars, Compact Cars, Mid-Size Cars, Large Cars, SUVs and Crossovers, MPVs, and Pickups), product form (Cast Aluminum, Rolled Aluminum, Extruded Aluminum), application type (Engine, Transmission and Driveline, Heat Transfer, Wheels and Brakes, Structural Component), and region (North America, Europe, Asia Pacific, and the Rest of the World)
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Aluminum in the Global Automotive Market Trends and Forecast
The future of aluminum in the global automotive market looks promising with opportunities in the passenger cars and commercial vehicles market. Aluminum in the global automotive market is expected to grow at a CAGR of 8.0% from 2021 to 2027. The major drivers for this market are increasing vehicle production, government regulations on the fuel economy and emission controls, increasing stringent safety regulations, and increasing gasoline prices.
Emerging Trends of Aluminum in the Global Automotive Market
Emerging trends, which have a direct impact on the dynamics of the industry, include increasing use of aluminum in chassis and structural applications and development of advance manufacturing technologies to enhance the material strength.
Aluminum in the Global Automotive Industry by Segments
The analyst forecasts that cast aluminum in the global automotive industry will remain the largest segment, and it is also expected to witness the highest growth over the forecast period. The study includes trends and forecast for aluminum in the global automotive market by vehicle type, product form, application type, and region, as follows:
Aluminum in the Global Automotive Industry by Vehicle type [Value ($ Million) and Volume (kilo tons) from 2016 to 2027]:
• Small Cars
• Compact Cars
• Mid-Size Cars
• Large Cars
• SUVs & Crossovers
• Pickup Trucks
Aluminum in the Global Automotive Industry by Product Forms (Value $ Million from 2016 to 2027):
• Cast Aluminum
• Rolled Aluminum
• Extruded Aluminum
• Others
Aluminum in the Global Automotive Industry by Application type (Value $ Million from 2016 to 2027):
• Engines
• Transmissions and Drivelines
• Heat Transfer Systems
• Wheels and Brakes
• Structural Components
Aluminum in the Global Automotive Industry by Region [Value ($ Million) and Volume (kilo tons) from 2016 to 2027]:
• North America
• US
• Canada
• Mexico
• Europe
• United Kingdom
• Italy
• France
• Germany
• Spain
• Asia Pacific
• China
• India
• Japan
• Indonesia
• South Korea
• The Rest of the World
• Brazil
• Argentina
List of Aluminum Companies in the Global Automotive Industry
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies aluminum in the global automotive companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of aluminum in the global automotive companies profiled in this report includes.
• Alcoa
• Novelis
• Norsk Hydro
• Constellium
• Aleri
Aluminum in the Global Automotive Industry Insights
• The analyst forecasts that casting aluminum in the global automotive will remain the largest segment, and it is also expected to witness the highest growth over the forecast period as it is a simple, inexpensive, and versatile way of forming aluminum into a wide array of products, which is expected to spur growth over the forecast period.
• Asia Pacific will remain the largest region due to high vehicle production, improving economic conditions, and increasing investments by the industry players within the APAC region. Europe is expected to witness the highest growth over the forecast period because of stringent government regulations toward carbon emissions and increasing demand for aluminum in SUVs & crossovers, small cars, and compact cars.
Features of Aluminum in the Global Automotive Market
• Market Size Estimates: Aluminum in the global automotive market size estimation in terms of value ($M) and volume (kilotons) shipment.
• Trend and Forecast Analysis: Market trends (2016-2021) and forecast (2022-2027) by various segments.
• Segmentation Analysis: Aluminum in the global automotive market size by various segments, such as by vehicle type in terms of value and volume.
• Regional Analysis: Aluminum in the global automotive market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
• Growth Opportunities: Analysis of growth opportunities in different segments by vehicle type, product form, application type and regions for aluminum in the global automotive market.
• Strategic Analysis: This includes M&A, new product development, and competitive landscape of aluminum in the global automotive market.
• Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the aluminum in the global automotive market size?
Answer: Aluminum in the global automotive market is expected to reach an estimated $47.4 billion by 2027.
Q2. What is the growth forecast for aluminum in the global automotive market?
Answer: Aluminum in the global automotive market is expected to grow at a CAGR of 8.0% from 2021 to 2027.
Q3. What are the major drivers influencing the growth of aluminum in the global automotive market?
Answer: The major drivers for this market are increasing vehicle production, government regulations on the fuel economy and emission controls, increasing stringent safety regulations, and increasing gasoline prices.
Q4. What are the major vehicle type or end use industries for aluminum in the global automotive?
Answer: Passenger car is the major segment by vehicle type for aluminum in the global automotive.
Q5. What are the emerging trends of aluminum in the global automotive market?
Answer: Emerging trends, which have a direct impact on the dynamics of the industry, include increasing use of aluminum in chassis and structural applications and development of advance manufacturing technologies to enhance the material strength.
Q6. Who are the key aluminum companies in the global automotive market?
Answer: Some of the key aluminum companies in the global automotive market are as follows:
• Alcoa
• Novelis
• Norsk Hydro
• Constellium
• Aleri
Q7. Which product segment of aluminum in the global automotive will be the largest in future?
Answer: The analyst forecasts that casting aluminum in the global automotive will remain the largest segment, and it is also expected to witness the highest growth over the forecast period as it is a simple, inexpensive, and versatile way of forming aluminum into a wide array of products, which is expected to spur growth over the forecast period.
Q8: In aluminum in the global automotive market, which region is expected to be the largest in next 5 years?
Answer: Asia Pacific will remain the largest region due to high vehicle production, improving economic conditions, and increasing investments by the industry players within the APAC region. Europe is expected to witness the highest growth over the forecast period because of stringent government regulations toward carbon emissions and increasing demand for aluminum in SUVs & crossovers, small cars, and compact cars.
Q9. Do we receive customization in this report?
Answer: Yes, The analyst provides 10% Customization Without any Additional Cost.
This report answers following 11 key questions
Q.1 What are some of the most promising growth opportunities for aluminum in the global automotive market by vehicle type (Small Cars, Compact Cars, Mid-Size Cars, Large Cars, SUVs and Crossovers, MPVs, and Pickups), product form (Cast Aluminum, Rolled Aluminum, Extruded Aluminum), application type (Engine, Transmission and Driveline, Heat Transfer, Wheels and Brakes, Structural Component), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2 Which segments will grow at a faster pace and why?
Q.3 Which region will grow at a faster pace and why?
Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges, and business risks in this market?
Q.5 What are the business risks and competitive threats in this market?
Q.6 What are the emerging trends in this market and the reasons behind them?
Q.7 What are some of the changing demands of customers in the market?
Q.8 What are the new developments in the market and which companies are leading these developments?
Q.9 Who are the major players in this market? What strategic initiatives are being taken by key players for business growth?
Q.10 What are some of the competing products in this market and how big of a threat do they pose for loss of market share by product substitution?
Q.11 What M&A activity has occurred in the last five years?
For any questions related to aluminum in automotive market or related to aluminum in automotive market share, aluminum in automotive market analysis, aluminum in automotive market size, write Lucintel analyst at email: [email protected]. We will be glad to get back to you soon.
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