According to a new market report published by
Lucintel, the future of molybdenum in the global automotive market looks
promising with opportunities in the passenger car and light commercial vehicle markets.
The molybdenum in the global automotive market is expected to grow with a CAGR
of 5.9% from 2019 to 2024. The major drivers for this market are increasing penetration
of high strength steel per vehicle and growing demand for lithium ion batteries
in electric vehicles.
In this market, molybdenum is primarily used
in steel for the manufacturing of engine blocks, exhaust systems, crankshaft,
piston rings, steering components, and axel shafts. Molybdenum enhances
strength, hardenability, weldability, toughness, and corrosion resistance of steel.
On the basis of its comprehensive research, Lucintel forecasts that engine blocks
will remain the largest segment for molybdenum material, as molybdenum
improves high internal operation pressure and peak firing pressure in engines.
Asia Pacific will remain the largest region; it
is also expected to witness the highest growth over the forecast period due to
high vehicle production and increasing demand for advanced high strength steel
(AHSS) for various engine applications.
An emerging trend, which has a direct impact
on the dynamics of the industry, includes increasing applications for molybdenum
steel alloys in engines, such as driving pinion, cardan joints, and turbocharger
housings. Centerra Gold, Codelco Mining, China Molybdenum Company, Grupo Mexico, Freeport-McMoRan,
Anglo American, and Jinduicheng Molybdenum Group Co. are the major molybdenum suppliers in the
global automotive market.
Lucintel, a leading
global strategic consulting and market research firm, has analyzed growth
opportunities for molybdenum in the global automotive market by application, vehicle
type, and region. Lucintel has compiled a comprehensive research report titled “Growth Opportunities
for Molybdenum in the Global Automotive Market 2019-2024: Trends, Forecast, and
Opportunity Analysis”. The Lucintel report serves as a catalyst for
growth strategies, as it provides comprehensive data and analysis on trends,
key drivers, and directions. The study includes trends and forecast for molybdenum
in the global automotive market by application, vehicle type, and region as
follows:
By Application [Volume (Million lbs) and $M
Shipment analysis from 2013 to 2024]:
- Engine Block
- Exhaust System
- Crankshaft
- Piston Rings
- Others
By Vehicle Type [Volume (Million lbs) and $M
Shipment analysis from 2013 to 2024]:
- Passenger Cars
o
Small Cars
o
Compact Cars
o
Mid-Sized Cars
o
Luxury Cars
o
SUVs & Crossovers
- Light Commercial Vehicles
By Region [Volume (Million lbs) and $M Shipment analysis
from 2013 to 2024]:
- North
America
- US
- Canada
- Mexico
- Europe
- Germany
- Russia
- France
- United
Kingdom
- Italy
- Asia
Pacific
- China
- Japan
- India
- South
Korea
- Indonesia
- The Rest of the World
- Brazil
- Turkey
This
150-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 molybdenum
in the global automotive market by application (engine blocks, exhaust systems,
crankshaft, and piston rings), vehicle type (passenger cars and light
commercial vehicles), 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 did occur in the last five
years, and what has its impact been on the industry?
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