Automotive Aluminium Market Outlook
According to the report by Expert Market Research (EMR), the global automotive aluminium market size grew substantially in 2023. Aided by the automotive industry’s paradigm shift towards lightweight and sustainable vehicles, the market is projected to further grow at a CAGR of 10.3% between 2024 and 2032.
Automotive aluminium, recognised for its lightweight, strength, and corrosion resistance, is progressively becoming the material of choice in car manufacturing. Used in various automotive components such as chassis, engines, wheels, and body structures, aluminium substantially decreases the overall vehicle weight, leading to enhanced fuel efficiency and reduced greenhouse gas emissions. Given the rising global concerns about environmental sustainability and stringent government regulations on vehicular emissions, aluminium’s role in the automotive sector has gained unprecedented importance.
Get a Free Sample Report with Table of Contents@ https://www.expertmarketresearch.com/reports/automotive-aluminum-market/requestsample
The burgeoning demand for fuel-efficient vehicles is a primary driver propelling the automotive aluminium market growth. Consumers, increasingly educated about environmental conservation, are leaning towards vehicles that offer better mileage and lower emissions. With aluminium reducing a vehicle’s weight by up to 50% compared to traditional steel, its integration results in fuel savings of up to 8%. This not only aligns with the consumers’ eco-friendly preferences but also results in considerable cost savings.
Furthermore, the automotive industry’s fervent innovation in electric vehicles (EVs) underpins the escalating automotive aluminium market demand. EVs, inherently requiring lightweight structures to counterbalance their heavy batteries and ensure optimal range, benefit significantly from aluminium-intensive designs. As the world marches towards electric mobility, aluminium’s significance in vehicle design and manufacturing will undoubtedly magnify.
However, aluminium’s applications are not just confined to vehicle bodies. Its remarkable thermal conductivity makes it ideal for producing heat exchangers, radiators, and air conditioning units in vehicles. Additionally, its resistance to corrosion ensures longevity and durability, factors paramount in automotive applications.
Read Full Report with Table of Contents@ https://www.expertmarketresearch.com/reports/automotive-aluminum-market
Additionally, the advanced recycling methods are making waves, aiming to reuse automotive aluminium, thereby mitigating environmental concerns and further establishing aluminium as a sustainable choice. With the development of advanced alloys and composite materials, the strength and versatility of automotive aluminium continue to improve, making it more competitive against traditional automotive materials. This factor is expected to increase the automotive aluminium market size in the forecast period.
Automotive Aluminium Market Segmentation
The market can be divided based on form, vehicle, application, and region.
Market Breakup by Form
- Cast Aluminium
- Rolled Aluminium
- Extruded Aluminium
Market Breakup by Vehicle
- Passenger Cars
- Light Commercial Vehicle (LCV)
- Heavy Commercial Vehicle (HCV)
Market Breakup by Application
- Power Train
- Chassis and Suspension
- Car Body
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global automotive aluminium market. Some of the major players explored in the report by Expert Market Research are as follows:
- Alcoa Corporation
- Aluminum Corporation of China Limited
- Consolidated Metco, Inc.
- Farinia Group
- Dynacast
- Aluminium Bahrain B.S.C.
- Kaiser Aluminum Corporation
- Gibbs Die Casting, Inc.
- Nemak Group
- CITIC Limited
- Bonnell Aluminum
- Ryobi Group
- Endurance Technologies Limited
- Martinrea Honsel Germany GmbH
- Bodine Aluminum
Read More Reports:
Colombia Apparel Market: https://www.expertmarketresearch.com/reports/colombia-apparel-market
Colombia Automotive Lubricants Market: https://www.expertmarketresearch.com/reports/colombia-automotive-lubricants-market
Colombia Automotive Tyre Market: https://www.expertmarketresearch.com/reports/colombia-automotive-tyre-market
About Us
Acquire unparalleled access to critical industry insights with our comprehensive market research reports, meticulously prepared by a team of seasoned experts. These reports are designed to equip decision-makers with an in-depth understanding of prevailing market trends, competitive landscapes, and growth opportunities.
Our high-quality, data-driven analysis provide the essential framework for organisations seeking to make informed and strategic decisions in an increasingly complex and rapidly evolving business environment. By investing in our market research reports, you can ensure your organisation remains agile, proactive, and poised for success in today’s competitive market.
Don’t miss the opportunity to elevate your business intelligence and strengthen your strategic planning. Secure your organisation’s future success by acquiring one of our Expert Market Research reports today.
Media Contact:
Company Name: Claight Corporation
Contact Person: Steven Luke, Corporate Sales Specialist – U.S.A.
Email: sales@expertmarketresearch.com
Toll Free Number: +1-415-325-5166 | +44-702-402-5790
Address: 30 North Gould Street, Sheridan, WY 82801, USA
Website: www.expertmarketresearch.com
Aus Site: https://www.expertmarketresearch.com.au/
