The latest report on Automotive Metal Market by Infinium Global Research gives complete coverage of the Automotive Metal Market by product (aluminum, magnesium, steel, and other products), application (power train, suspension, body structure, and other applications), end-use (passenger cars, and commercial cars) in terms of key trends, market size, forecast and CAGR growth over the period of 2019 to 2025. In addition, the study covers deep dive into key product and application trends in the regional markets of Automotive Metal such as North America, Europe, Asia-Pacific and Latin America over the short run and long run.
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Steel is Used in Most Automotive Parts of The Vehicle Due to Its Strength and Most Affordable Material
Automotive metal includes steel, aluminum, and other metals. Steel is used in most automotive parts of the vehicle due to its strength and most affordable material. Nowadays aluminum and other metals are also used in various vehicle parts due to high recyclability and light in weight. Magnesium alloy is also used in the interior part of the vehicle. Aluminum is a light that helps to reduce fuel consumption and reduce CO2 emission.
Enhancement in the automotive industry by adopting new technologies along with innovations in the new design as per consumer preference is the factor driving the growth of the global automotive metal market. Increasing demand for lightweight cars for fuel efficiency propels the growth of the automotive metal market.
On the other hand, the availability of substitute products such as plastics and carbon fiber in the market may restrict the growth of the global automotive metal market. Moreover, the adoption of advanced technologies such as connected or autonomous vehicles creates an opportunity for the growth of the global automotive metal market. High demand for electric vehicle will increase the requirement for the material in the coming years.
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An Increasing Number of Vehicle Sales in China Fuels the Growth of the Automotive Metal Industry
Geographically, Asia Pacific region dominates by the largest market share in the automotive metal market due to the adoption of advanced technologies by the manufacturer that creates new designs and manufacturing processes as per consumer demand. Asia Pacific region expected to boost the growth of the automotive metal market due to the adoption of electric vehicles.
In Asia-Pacific, China holds the highest share followed by Japan and India. An increasing number of vehicle sales in China fuels the growth of the automotive metal market. Furthermore, North America held the second-largest market share owing to growth in the automotive sector. The presence of major manufacturers in the North America region is the factor that boosts the growth of the automotive metal market. In North America, the U.S accounted for the highest share followed by Canada and Mexico.
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Reasons to Buy this Report:
- Comprehensive analysis of global as well as regional markets of the Automotive Metal.
- Complete coverage of all the product types and application segments to analyze the trends, developments, and forecast of market size up to 2025.
- Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.
- Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.