According to a new market report published by Lucintel, the future of aluminum in the automotive industry looks promising with opportunities in the passenger cars and commercial vehicles market. Aluminum in the automotive industry is expected to reach an estimated $45 billion by 2024 with a CAGR of 6.6% from 2019 to 2024. 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.
Browse 124 market data tables and 151 figures spread through 235 pages and in-depth TOC on “Automotive Aluminum Market”
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In this market, different types of automotive aluminum such as cast aluminum, rolled aluminum, extruded aluminum are used as product form. On the basis of comprehensive research, Lucintel forecasts that the cast aluminum will remain the largest market. Casting is a simple, inexpensive, and versatile way of forming aluminum into a wide array of products, which is expected to spur growth for this segment over the forecast period.
Within the global automotive aluminum industry, passenger car will remain the largest market by value and volume and it also expected to witness the highest growth over the forecast period due to increasing production of small, compact, and luxury car and increasing penetration of aluminum material per vehicle to reduce the carbon emission and to increase fuel efficiency.
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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..
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Emerging trends, which have a direct impact on the dynamics of the automotive aluminum industry, include increasing use of aluminum in chassis and structural applications and development of advance manufacturing technologies to enhance the material strength. Alcoa, Novelis, Norsk Hydro, Constellium, and Aleris are the major aluminum suppliers in the automotive industry.
Lucintel, a leading global strategic consulting and market research firm, has analyzed the automotive aluminum market by vehicle type, product form, application, and region and has come up with a comprehensive research report entitled “Growth Opportunities in the Automotive Aluminum Market 2019-2024: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy as it provides a comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the automotive aluminum market by vehicle type, product form, application, and region as follows:
By Vehicle Type [$M shipment analysis from 2013 to 2024]:
- Small Cars
- Compact Cars
- Mid – Size Cars
- Large Cars
- SUVs & Crossovers
- Multi- Purpose Vehicle
- Pickup Trucks
By Product Form [$M shipment analysis from 2013 to 2024]:
- Cast Aluminum
- Rolled Aluminum
- Extruded Aluminum
By Application [$M shipment analysis from 2013 to 2024]:
- Transmission & Powertrains
- Heat Transfer
- Wheel & Brakes
- Structural Components
By Region [$M shipment analysis for 2013 to 2024]:
- North America
– United States
– United Kingdom
- Asia Pacific
- The Rest of the World
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This 235-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/automotive-aluminum-market.aspx or email@example.com.
Lucintel, the premier global management consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, growth consulting, M&A, and due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.
This report answers following 11 key questions:
Q.1 What are some of the most promising, high-growth opportunities for the automotive aluminum by vehicle type small cars, compact cars, mid-size cars, large cars, suvs and crossovers, multi-purpose vehicles, pickup trucks, by product form (cast aluminum, rolled aluminum, extruded aluminum, others), by applications (engines, transmissions and powertrains, heat transfer, wheels and brakes, structural components, and others), and by 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 regions will grow at a faster pace and why?
Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges of the market?
Q.5 What are the business risks and threats to the market?
Q.6 What are the emerging trends in this market and reasons behind them?
Q.7 What are some changing demands of customers in the market?
Q.8 What are the new developments in the market? Which companies are leading these developments?
Q.9 Who are the major players in this market? What strategic initiatives are being implemented by key players for business growth?
Q.10 What are some of the competitive products and processes in this area and how big of a threat do they pose for loss of market share via product substitution?
Q.11 What M&A activity has occurred in the last 5 years?
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