Global Automotive
Sheet Metal Components Market: Snapshot
The transportation
industry, one of the leading contributors of polluting agents to the
environment due to the mounting numbers of vehicles across the globe,
has been under the radar of environmentalists for a long while. To
change the situation, the strict regulations imposed on
vehicle-makers to bring to the market vehicles with higher rate of
fuel efficiency are force-feeding the vehicle of development in the
automotive industry. On the way to being more fuel efficient, engine
downsizing and lighter vehicle parts are some of the most notable
changes to have been observed in vehicles of late.
In order to make
vehicles and their engines lighter, automobile manufacturers are
demanding suppliers to provide lightweight sheet metal components to
support the performance of lighter vehicle engines. Aluminum and
steel sheet metals are being designed in much more refined and
thinner forms as compared to old times in order to make them
applicable for lighter automobile applications. These factors are
expected to be the key factors to drive the global market for
automotive sheet metal components market over the next few years.
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http://www.transparencymarketresearch.com/automotive-sheet-metal-components-market.html
Transparency Market
Research estimates that the global automotive sheet metal components
market, which was valued at US$104.30 bn in 2016, will exhibit a CAGR
of 3.7% from 2017 to 2025 to account for US$142.41 bn in 2025.
High-strength
Steel to Continue to Witness Strong Demand
Steel sheet
components are the most widely used material in the automotive
sector. 60% of the total weight of a vehicles is made of steel
components. Steel allows good corrosion resistance while maintaining
weldability and formability. There are numerous grades of steel
available in the market to best suit the specific requirements as per
application.
Stringent emission
norms and automobile standards has been emphasizing automakers to
develop lightweight vehicles. Therefore, downsizing of engine in
order to ensure fuel efficient and environment-friendly attribute in
vehicles has been propelling the demand for high strength steel,
which are more durable and lighter than standard steel. The usage of
steel as an automotive sheet metal component is expected to remain
strong over the report’s forecast period as well.
Asia Pacific to
Continue to Lead with Healthy Future Growth Prospects
Asia Pacific
contributed the dominant share of around 33% to the revenue of the
global automotive sheet metal components market in 2016. China is the
leading automotive sheet metal components market in Asia Pacific. The
country has huge resource and technological capabilities in the
automotive sector. Moreover, increasing demand for passenger vehicles
in China and India is propelling the growth of automotive sheet metal
components market in the Asia Pacific region.
Europe contributed
more than 25% to the global automotive sheet metal components market
in the said year, with Germany being the dominant market. The rising
applications of sheet metal components in new segment of vehicles
such as electric and hybrid cars are expected to bolster the growth
of the market in Europe at a healthy rate over the forecast period.
The automotive sheet metal components market in North America is
projected to expand significantly during the forecast period. In
terms of revenue, North America generated around 20% of the total
revenues in the global automotive sheet metal components market in
2016, with the market in the U.S. holding the dominant share.
Some of the leading
companies operating in the global automotive sheet metal components
market profiled in the report are Novelis Inc., Aleris International
Inc., Mayville Engineering Company, Inc., O’Neal Manufacturing
Services, General Stamping and Metal Works, Larsen Manufacturing,
LLC, Amada Co. Ltd., Paul Craemer GmbH, Frank Dudley Ltd., and Omax
Autos Ltd.
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