Automotive Aluminum Market Worth $62 Billion By 2026

According to  Acumen Research, “The global Automotive Aluminum Market is projected to reach USD 62 billion by 2026, growing with a CAGR between 8.4% from 2020 to 2026”. The market report provides an analysis of the global Automotive Aluminum Market for the period 2016-2026, wherein 2020 to 2026 is the forecast period and 2019 is considered as the base year.

Growth is triggered by higher emission standards and environmental concerns. Casting, laminated products, extruded products and stampings are the main aluminum forms used in the automotive industry. The automotive industry uses aluminum combined with copper, manganese or silicone to produce high resistance parts. The advantages, such as small weight, high strength and reduced emissions, should encourage vehicle makers to choose aluminium as their choice material.

The worldwide manufacturing of cars including passenger cars and business vehicles, according to OICA, stood at 89,8 million units in 2014, reaching 97,3 million in 2017. The demand for cars has risen and the use of aluminum is expected to fuel the next few years. Automakers are now using lightweight, fuel-efficient cars such as aluminum.

Input expenses such as electricity, wages and manufacturing, to name only a few, have become the main restraint for the sector. Changes in the regulatory landscape and increasing environmental concerns have also led producers in the industry to opt for fresh techniques that can deliver energy saving measures and boost production.

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Key Highlights

The passenger car segment is expected to generate more than 38 billion US$ by 2026 in terms of income.

Increased demand for passenger vehicles is due to the fact that Light business vehicles in China and India in particular are expected to grow by around 11% at the greatest CAGR over the predicted era.

In the section of volume, the largest CAGR of around 9 percent from 2019 to 2026 is expected to contribute to development in the manufacturing capacity of leading automakers. The main drivers in the segment are the shift towards lightweight materials to enhance vehicle efficiency.

The biggest volume share in Asia Pacific was around 40% in 2018. Growth is driven by expansion along with automotive investment.

North America is expected, as a result of rigid carbon norms in the area, to record the largest CAGR of more than 10 per cent from 2019 to 2026.

The automotive industry is dedicated to manufacturing cars that deliver superior performance, fuel efficiency, high safety and convenience for passengers. Aluminum has become one of the main decisions of auto manufacturers, which want cars to stand high on all these metrics, due to characteristics such as low weight and high performance, corrosion resistance and flexibility. Aluminum is also environmentally friendly to the car, as the majority of the aluminum in a car can be recycled.

A broad outline of current market growth dynamics and projections for the future growth trajectory of the market and its sections is provided by the study on the worldwide automotive aluminum markets. The report also provides a thorough overview of the variables that will significantly affect the general business growth of the report over the forecast period.

Key Players & Strategies

The market suppliers focus on organic development strategies in order to reach a competitive advantage. Constellium introduced, for example, its fresh automotive structure in Zilina, Slovakia, in November 2018. The new plant is a strategy of expansion into the market in Eastern Europe. It manufactures parts for the body structure and aluminum crash management systems.

Key Player in this industry included are UACJ Corporation; AMG Advanced Metallurgical Group; Martinrea Honsel Germany GmbH; Constellium N. V.; Bodine Aluminum, Inc.; Farinia Group; Endurance Technologies Limited; Dynacast; Aluminium Bahrain (Alba); GAleris, Federal-Mogul Holding Corporation; Dana Holding Corporation; Kaiser Aluminum; ranges Innovative Aluminum Engineering; Norsk Hydro ASA; Ryobi Ltd; NEMAK Innovative Lightweighting; Gibbs Die Casting Corporation; and CITIC Dicastal Co., Ltd.

Market Segmentation as below:

Market, By End Use

  • Heavy Commercial Vehicles
  • Light Commercial Vehicles
  • Passenger Cars

Market, By Application

  • Suspension
  • Powertrain
  • Body Structure
  • Others

Market By Geography

(Regional Output, Demand & Forecast by Countries)

  • North America (USA and Canada)
  • Europe (UK, Germany, France, Spain and Rest of Europe)
  • Asia Pacific (China, Japan, India, Australia, South Korea and Rest of Asia-Pacific)
  • Latin America (Mexico, Brazil and Rest of Latin America)
  • Middle East and Africa (GCC, South Africa and Rest of MEA).

FYI, You will get the latest updated report as per the COVID-19 impact on this industry. Our updated reports will now feature detailed analysis that will help you make critical decisions.

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Overview of the Impact of COVID-19 on this market:

The development of COVID-19 has carried the world to a stop. We comprehend that this health emergency has brought an unprecedented effect on businesses across ventures. However, this also will pass. Rising help from governments and a few organizations can help in the battle against this profoundly infectious sickness. There are a few industries that are battling and some are flourishing. In general, pretty much every segment is foreseen to be affected by the pandemic.

We are taking persistent efforts to enable your business to continue and develop during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across ventures to assist you to prepare for the future.

The report is readily available and can be dispatched immediately after payment confirmation.

The Final Report will cover the impact analysis of COVID-19, Download Full Study Report (Single User License US$ 4500)https://www.acumenresearchandconsulting.com/buy-now/0/1526

About Acumen Research and Consulting:

Acumen Research and Consulting (ARC) is a global provider of market intelligence and consulting services to information technology, investment, telecommunication, manufacturing, and consumer technology markets. ARC helps investment communities, IT professionals, and business executives to make fact-based decisions on technology purchases and develop firm growth strategies to sustain market competition. With the team size of 100+ Analysts and collective industry experience of more than 200 years, Acumen Research and Consulting assures to deliver a combination of industry knowledge along with global and country level expertise.

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