According to a new market report published by
Lucintel, the future of aluminum in the global automotive industry looks promising
with opportunities in the passenger cars and commercial vehicles market. Aluminum
in the global 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.
In this market, cast, rolled, and extruded
aluminum are used for manufacturing of various automotive parts. On the basis of
our 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.
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.
Emerging trends, which have a direct impact on
the dynamics of the 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 global automotive industry.
Lucintel, a leading global strategic
consulting and market research firm, has analyzed growth opportunities for
aluminum in the global automotive industry by vehicle types, product forms,
application types, and regions, and compiled a comprehensive research report
entitled “Growth
Opportunities for Aluminum in the Global Automotive Industry 2019-2024: 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 aluminum in the global automotive industry by vehicle
type, product form, application type, and region, as follows:
By Vehicle type ($ Million and kilo tons from
2013 to 2024):
- Small Cars
- Compact Cars
- Mid-Size Cars
- Large Cars
- SUVs & Crossovers
- Pickup Trucks
By Product Forms ($ Million from 2013 to 2024):
- Cast Aluminum
- Rolled Aluminum
- Extruded Aluminum
- Others
By Application type ($ Million from 2013 to
2024):
- Engines
- Transmissions and Drivelines
- Heat Transfer Systems
- Wheels and Brakes
- Structural Components
By Region ($ Million and kilo tons from 2013
to 2024):
- North America
o
US
o
Canada
o
Mexico
- Europe
o
United Kingdom
o
Italy
o
France
o
Germany
o
Spain
- Asia Pacific
o
China
o
India
o
Japan
o
Indonesia
o
South Korea
- The Rest of the World
o
Brazil
o
Argentina
This
236-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. Lucintel 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 aluminum in the automotive industry by vehicle
type (Small Cars, Compact Cars, Mid-Size Cars, Large Cars, SUVs and Crossovers,
MPVs, and Pickups), product form (Cast Aluminum, Rolled Aluminum, Extruded
Aluminum), application type (Engine, Transmission and Driveline, Heat Transfer,
Wheels and Brakes, Structural Component), 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 drivers, 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 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 / product substitution?
Q.11
What M&A activity has occurred in
the last 5 years and what has its impact been on the industry?
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