The new report by Expert Market Research titled, ‘Global Automotive Metals Market Size, Report and Forecast 2023-2028’, gives an in-depth analysis of the global automotive metals market, assessing the market based on its segments like product, application, end-use, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
Get a Free Sample Report with Table of Contents: https://www.expertmarketresearch.com/reports/automotive-metals-market/requestsample
The key highlights of the report include:
Market Overview (2018-2028)
• Forecast CAGR (2023-2028): 6.2%
The increasing demand for vehicles across the globe is surging automobile production, and this is creating more demand for metals that are to be used in passenger cars, light commercial vehicles, and heavy commercial vehicles. Among all the vehicles, heavy commercial vehicles not only accounts for a major share in the overall market but the segment is likely to witness promising growth due to the heightened demand for such vehicles in the global marketplace. Furthermore, countries like India and China will be the major growth engines for the global automotive metals market.
Industry Definition and Major Segments
Automotive metals include metals, such as steel, copper, magnesium, and aluminium. These metals are added with other elements to make alloys to make them suitable to be used in automobiles and meet the required criteria of vehicles. Elements like nickel, chrome, and cobalt are added to metals.
Read Full Report with Table of Contents: https://www.expertmarketresearch.com/reports/automotive-metals-market
Firstly, the global automotive metals market has been segmented as
• Aluminium
• Steel
• Magnesium
• Others
The applications of metals in the automotive industry include:
• Body Structure
• Power Train
• Suspension
• Others
Based on the end use of these metals, the global automotive metals market is segmented as:
• Passenger Cars
• Light Commercial Vehicles
• Heavy Commercial Vehicles
The regional market includes North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
Market Trends
The increasing inclination towards EVs due to favourable government policies and regulations will support the market for metals in the automotive industry. Furthermore, the increasing demand for lighter vehicles that offer low fuel consumption is increasing the use of aluminium in the automotive industry. However, steel is still the dominant material used in the industry. Market players like ArcelorMittal are investing in the development of better high-strength steel compounds to maintain their position in the automotive metals market.
Key Market Players
The major players in the market are ArcelorMittal, POSCO INTERNATIONAL Corporation, voestalpine Metal Forming GmbH, Tata Steel Limited, and United States Steel Corporation. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
About Us:
Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company’s expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.
EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over a 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.
Media Contact
Company Name: EMR Inc.
Contact Person:- Irene Garcia, Business Consultant
Email: sales@expertmarketresearch.com
Toll Free Number: US +1-415-325-5166 | UK +44-702-402-5790
Address: 30 North Gould Street, Sheridan, WY 82801, USA
City: Sheridan
State: Wyoming
Country: United States
Website: https://www.expertmarketresearch.com
Explore more on Procurement Intelligence services of EMR Inc.
*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.
