According to the recent study the automotive aluminum market is projected to reach an estimated $43.2 billion by 2025 from $30.3 billion in 2019, at a CAGR of 6.1% from 2020 to 2025. Growth in this market is primarily driven by increasing vehicle production, government regulations on the fuel economy and emission controls, increasing stringent safety regulations, and increasing gasoline prices.
Browse 151 figures / charts and 124 tables in this 235-page report to understand trends, opportunities and forecast in automotive aluminums market by vehicle type (small cars, compact cars, mid-size cars, large cars, suvs and crossovers, multi-purpose vehicles, pickup trucks), by product form (cast aluminum, rolled aluminum, extruded aluminum, others), by applications (engines, transmissions and powertrains, heat transfer, wheels and brakes, structural components, and others), and by region (North America, Europe, Asia Pacific, and the Rest of the World).
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“Cast aluminum market is expected to remain the largest segment during the forecast period.”
Based on product form, the automotive aluminum market is segmented into cast aluminum, rolled aluminum, extruded aluminum, others. Lucintel forecasts that the cast aluminum market is expected to remain the largest segment as 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 automotive aluminum market, the passenger car segment is expected to remain the largest vehicle type.”
Based on vehicle type, the passenger car segment is 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 dominate the automotive aluminum market in near future.”
Asia Pacific is expected to be 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.
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Major players of automotive aluminums market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. Alcoa Inc., Novelis Inc., Norsk Hydro ASA, Constellium N.V., Kaiser Aluminum Corp., Aleris International, Inc., Aluminum Corporation of China Limited, Vimetco N.V are among the major Automotive aluminums providers.
This unique 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 click on this link https://www.lucintel.com/automotive-aluminum-market.aspx or [email protected]
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