Research Reports
Automotive Aluminum Market Revenue, Growth, Restraints, Trends, Company Profiles, Analysis & Forecast Till 2027
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Posted on August 6, 2021
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The Global Automotive Aluminum Market is forecast to reach USD 142.15 Billion by 2027. The growing prevalence of focusing on the reduction of the vehicle weight is the principal reason behind the prodigious growth of this market. Aluminum is a lightweight metal and weighs nearly 40% lesser than steel, having a high tensile & compressive strength, making it ideal for the use in the automotive body & other structural & operational components. Aluminum’s mentionable light weight directly improves the fuel efficiency and provide nearly 16% less fuel consumption compared to the steel-made vehicles, and a body frame made of aluminum is proven to absorb a higher energy crash impact compared to a mild steel made body frame. Owing to the lighter weight of aluminum, the automakers have been able to increase the thickness of body panels and structural components without adding any extra weight to the vehicle.
Many consumers emphasize the lower operational & running expenses of a vehicle and opt for buying a vehicle with more fuel efficiency in return for some extra ownership cost. Automakers are thereby looking for the alternative procedures and extensively investing in the R&D to support the idea of higher fuel efficiency models and come up with newer technology to outperform other competitors in the industry by acquiring a more extensive consumer base. Considering these supporting advantages of aluminum, North American automakers have forecasted a doubled usage of aluminum content in average vehicles produced in the auto industry by 2025.
To get a FREE sample copy of the report @ https://www.reportsanddata.com/sample-enquiry-form/2980
Key participants include Hindalco Industries Ltd., Novelis Inc., Constellium SE, Norsk Hydro ASA, Alcoa Corporation, United Company RUSAL, Autoneum Holding AG, Aluminum Corporation of China Limited, UACJ Corporation, and Federal-Mogul Holding Corporation, among others.
The COVID-19 Impact:
The COVID-19 global pandemic has created a tremendous slowdown in global economic growth. Like many other industries that have been majorly hit by this epidemic condition, the global automotive industry has been highly affected and observing a massive slowdown in their sales. Many global leading high selling automakers and luxury automakers have reported their record reduction in sales amid the coronavirus outbreak. The automotive aluminum market, which mostly relies on the luxury or premium vehicle range, is also projected to observe a significant slowdown in their sales. However, during the Q4 of this fiscal year, the automakers are expected to get a slight improvement in their revenue as many industries would resume their production units, and many potential customers who delayed their vehicle purchase during the pandemic situation would opt for buying their cars. Also, a mentionable rise in the potential buyers of cars will be observed as many people would avoid availing public transport and would prefer traveling through their personal vehicle as a means of an increased safety parameter.
For the purpose of this study, Reports and Data have segmented the Automotive Aluminum market on the basis of applications, product form, vehicle type, vehicle propulsion type, vehicle size, and region:
Applications Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)
- Body Structure & Closure
- Power Train
- Heat Transfer & Electrification
- Brake & Steering
- Others
Product Form Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)
- Cast Aluminum
- Sheet Aluminum
- Forged Aluminum
- Extruded Aluminum
Vehicle Type Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)
- Passenger
- Commercial
Vehicle Propulsion Type Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)
- ICV
- EV
- HEV
Vehicle Size Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)
- Compact
- Large
- Sub-Compact
- Medium
- Basic
Regional Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)
- North America
- The U.S.
- Canada
- Europe
- Germany
- France
- The U.K.
- Spain
- Italy
- Rest of the Europe
- Asia Pacific
- China
- India
- Japan
- Rest of Asia-Pacific
- Middle East and Africa
- Latin America
- Brazil
Buy now your Exclusive copy of Report @ https://www.reportsanddata.com/checkout-form/2980
Further key findings from the report suggest
- In April 2020, Hindalco Industries, an Aditya Birla Group company, an Indian conglomerate, completed the hugely delayed acquisition procedure of Aleris Corporation, a globally leading supplier of rolled aluminum products. Earlier Novelis Inc., a world leader in aluminum rolling & recycling, announced their acquisition of Aleris. Through this acquisition of Aleris, Hindalco Industries would become the largest producer of aluminum.
- The vehicle body structure & closure sub-segment is observing the fastest market growth as many automakers incorporated aluminum for making their vehicle frame & body so that they can offer better fuel efficiency and other cutting-edge technology that substantially increase the operational efficiency of the vehicle. Besides, aluminum’s high and efficient recycling and smaller lifecycle CO2 footprints are the reason many vehicle manufacturers are slowly being inclined to use aluminum for their vehicles.
- Aluminum alloys tailored by suitable variations in its chemical composition & processing many requirements, such as the non-heat treatable Aluminum-Magnesium alloys incorporated in the vehicle chassis, optimized for great resistance against the intercrystalline corrosion & concurrent high strength. Even the heat treatable Aluminum-Magnesium-Silicon alloys used for extrusions, and the body sheet modified for an improved hardening response during the vehicle paint bake cycle.
Key insights presented in the report:
- Market revenue shares by major business players, by type, application, and market scope of global Automotive Aluminum market
- Sales revenue by key players and new entrants
- Competitive analysis of key players, including company overview, product or services specification, vendors, and buyers.
- Recent mergers, acquisitions, product launches, recent investments, and joint ventures
- Regional analysis to provide insight into recent trends and opportunities.
Request for customization of the report @ https://www.reportsanddata.com/request-customization-form/2980
Thank you for reading our report. To know more about the customization feature, please get in touch with us and our team will ensure the report is customized to meet your requirements
Explore Reports and Data’s Prime Analysis of the global Interior and Exterior Materials Industry:
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- Bicycle Lighting Equipment Market Size, Share & Analysis, By Type, By Application and By Region, Global Forecast To 2027
- Ship Plate Market Size, Share & Trends, By Product and By Application Forecasts To 2028
About Reports and Data
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.
Contact Us:
John W
Head of Business Development
Reports and Data | Web: www.reportsanddata.com
Direct Line: +1-212-710-1370
E-mail: sales@reportsanddata.com
Read Our Innovative Blogs @ https://www.reportsanddata.com/blogs
Read Full Press Release: https://www.reportsanddata.com/press-release/global-automotive-aluminum-market
The post Automotive Aluminum Market Revenue, Growth, Restraints, Trends, Company Profiles, Analysis & Forecast Till 2027 first appeared on News Degree | Hub for Latest and Trending News from Around the Globe.
The Global Automotive Aluminum Market is forecast to reach USD 142.15 Billion by 2027. The growing prevalence of focusing on the reduction of the vehicle weight is the principal reason behind the prodigious growth of this market. Aluminum is a lightweight metal and weighs nearly 40% lesser than steel, having a high tensile & compressive strength, making it ideal for the use in the automotive body & other structural & operational components. Aluminum’s mentionable light weight directly improves the fuel efficiency and provide nearly 16% less fuel consumption compared to the steel-made vehicles, and a body frame made of aluminum is proven to absorb a higher energy crash impact compared to a mild steel made body frame. Owing to the lighter weight of aluminum, the automakers have been able to increase the thickness of body panels and structural components without adding any extra weight to the vehicle.
Many consumers emphasize the lower operational & running expenses of a vehicle and opt for buying a vehicle with more fuel efficiency in return for some extra ownership cost. Automakers are thereby looking for the alternative procedures and extensively investing in the R&D to support the idea of higher fuel efficiency models and come up with newer technology to outperform other competitors in the industry by acquiring a more extensive consumer base. Considering these supporting advantages of aluminum, North American automakers have forecasted a doubled usage of aluminum content in average vehicles produced in the auto industry by 2025.
To get a FREE sample copy of the report @ https://www.reportsanddata.com/sample-enquiry-form/2980
Key participants include Hindalco Industries Ltd., Novelis Inc., Constellium SE, Norsk Hydro ASA, Alcoa Corporation, United Company RUSAL, Autoneum Holding AG, Aluminum Corporation of China Limited, UACJ Corporation, and Federal-Mogul Holding Corporation, among others.
The COVID-19 Impact:
The COVID-19 global pandemic has created a tremendous slowdown in global economic growth. Like many other industries that have been majorly hit by this epidemic condition, the global automotive industry has been highly affected and observing a massive slowdown in their sales. Many global leading high selling automakers and luxury automakers have reported their record reduction in sales amid the coronavirus outbreak. The automotive aluminum market, which mostly relies on the luxury or premium vehicle range, is also projected to observe a significant slowdown in their sales. However, during the Q4 of this fiscal year, the automakers are expected to get a slight improvement in their revenue as many industries would resume their production units, and many potential customers who delayed their vehicle purchase during the pandemic situation would opt for buying their cars. Also, a mentionable rise in the potential buyers of cars will be observed as many people would avoid availing public transport and would prefer traveling through their personal vehicle as a means of an increased safety parameter.
For the purpose of this study, Reports and Data have segmented the Automotive Aluminum market on the basis of applications, product form, vehicle type, vehicle propulsion type, vehicle size, and region:
Applications Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)
- Body Structure & Closure
- Power Train
- Heat Transfer & Electrification
- Brake & Steering
- Others
Product Form Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)
- Cast Aluminum
- Sheet Aluminum
- Forged Aluminum
- Extruded Aluminum
Vehicle Type Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)
- Passenger
- Commercial
Vehicle Propulsion Type Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)
- ICV
- EV
- HEV
Vehicle Size Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)
- Compact
- Large
- Sub-Compact
- Medium
- Basic
Regional Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)
- North America
- The U.S.
- Canada
- Europe
- Germany
- France
- The U.K.
- Spain
- Italy
- Rest of the Europe
- Asia Pacific
- China
- India
- Japan
- Rest of Asia-Pacific
- Middle East and Africa
- Latin America
- Brazil
Buy now your Exclusive copy of Report @ https://www.reportsanddata.com/checkout-form/2980
Further key findings from the report suggest
- In April 2020, Hindalco Industries, an Aditya Birla Group company, an Indian conglomerate, completed the hugely delayed acquisition procedure of Aleris Corporation, a globally leading supplier of rolled aluminum products. Earlier Novelis Inc., a world leader in aluminum rolling & recycling, announced their acquisition of Aleris. Through this acquisition of Aleris, Hindalco Industries would become the largest producer of aluminum.
- The vehicle body structure & closure sub-segment is observing the fastest market growth as many automakers incorporated aluminum for making their vehicle frame & body so that they can offer better fuel efficiency and other cutting-edge technology that substantially increase the operational efficiency of the vehicle. Besides, aluminum’s high and efficient recycling and smaller lifecycle CO2 footprints are the reason many vehicle manufacturers are slowly being inclined to use aluminum for their vehicles.
- Aluminum alloys tailored by suitable variations in its chemical composition & processing many requirements, such as the non-heat treatable Aluminum-Magnesium alloys incorporated in the vehicle chassis, optimized for great resistance against the intercrystalline corrosion & concurrent high strength. Even the heat treatable Aluminum-Magnesium-Silicon alloys used for extrusions, and the body sheet modified for an improved hardening response during the vehicle paint bake cycle.
Key insights presented in the report:
- Market revenue shares by major business players, by type, application, and market scope of global Automotive Aluminum market
- Sales revenue by key players and new entrants
- Competitive analysis of key players, including company overview, product or services specification, vendors, and buyers.
- Recent mergers, acquisitions, product launches, recent investments, and joint ventures
- Regional analysis to provide insight into recent trends and opportunities.
Request for customization of the report @ https://www.reportsanddata.com/request-customization-form/2980
Thank you for reading our report. To know more about the customization feature, please get in touch with us and our team will ensure the report is customized to meet your requirements
Explore Reports and Data’s Prime Analysis of the global Interior and Exterior Materials Industry:
- Automotive Acoustic Materials Market Size, Share, By Application, By Type and By Region Forecast To 2028
- Automotive Fabric Market Size, Share & Analysis, By Type, By Application, And By Region Forecast To 2027
- Bicycle Lighting Equipment Market Size, Share & Analysis, By Type, By Application and By Region, Global Forecast To 2027
- Ship Plate Market Size, Share & Trends, By Product and By Application Forecasts To 2028
About Reports and Data
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.
Contact Us:
John W
Head of Business Development
Reports and Data | Web: www.reportsanddata.com
Direct Line: +1-212-710-1370
E-mail: sales@reportsanddata.com
Read Our Innovative Blogs @ https://www.reportsanddata.com/blogs
Read Full Press Release: https://www.reportsanddata.com/press-release/global-automotive-aluminum-market
The post Automotive Aluminum Market Revenue, Growth, Restraints, Trends, Company Profiles, Analysis & Forecast Till 2027 first appeared on News Degree | Hub for Latest and Trending News from Around the Globe.