Opportunities for titanium in the global automotive market is expected to grow with a CAGR of 3.3% by 2023

According to a new market report published by Lucintel, the future of titanium in the global automotive market looks promising with opportunities in the luxury cars and sport cars segments. The titanium in the global automotive market is expected to grow at a CAGR of 3.3% from 2018 to 2023. The major growth drivers for this market are increasing demand for titanium in sports and luxury cars, rapid technological advancement, and growth in the high-performance vehicle production.

Exhaust system, connecting rods, turbocharger and valve, suspension spring, brake calipers, valve springs, and retainers are the major application segments in which titanium material is used. On the basis of its comprehensive research, Lucintel forecasts that the exhaust systems and connecting rods segment will show above average growth during the forecast period.

Within this market, sports car will remain the largest segment and is also expected to witness the highest growth over the forecast period due to increasing high performance vehicle production.

Europe is expected to remain the largest region due to increasing use of titanium content per vehicle coupled with the high production of luxury and formula-1 race cars.

North America is expected to witness significant growth over the forecast period because of growing sports and luxury cars production and increasing utilization of titanium in high-performance vehicle designs.

Emerging trends, which have a direct impact on the dynamics of the industry, include growing utilization of titanium in electric vehicle and increasing application of titanium in suspension spring and brake calipers. Tronox, Toho titanium, VSMPO AVISMA, Hermith, and Continental Steel & Tube are the major titanium suppliers in the global automotive market.

Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities for titanium in the global automotive market by application, vehicle type and region. Lucintel has compiled a comprehensive research report entitled “Growth Opportunities for Titanium in the Global Automotive Market 2018-2023: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy, as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for titanium in the global automotive market by application, vehicle type and region as follows:

By Application ($ Million and million pound from 2012 to 2023):

•         Exhaust System                  
•         Connecting Rod                 
•          Turbocharger                                   
•          Valve
•          Others                                    

By Vehicle Type ($ Million and million pound from 2012 to 2023):

•          Luxury Cars
•          Sports Cars  
•          Others                   

By Region ($ Million and million pounds from 2012 to 2023):

•          North America
•          Europe
•          Asia Pacific
•          The Rest of the World

This 135-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 email us at helpdesk@lucintel.com. Lucintel offerings include Mass Transportation, Transportation Market Report, Opportunity Screening and Analysis, Capital Investment Feasibility and SWOT Analysis.

About Lucintel

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 the following 11 key questions:

Q.1.     What are some of the most promising, high-growth opportunities for titanium in the global automotive market by application (Exhaust System, Connecting Rod, Turbocharger, Valve), by vehicle type (luxury cars and sports cars), 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 key 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? Which companies are leading these developments?

Q.9.     Who are the major players in this market? What strategic initiatives are key players pursuing 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 material or product substitution?

Q.11.   What M&A activity has occurred in the last 5 years and what has its impact been on the industry?