Automotive Structural Sheet Metal Key Updates
June 2020
Eagle has added new features in
its Eagle Lightweight GT to enhance the driving experience. The new model now
boasts of panels that are made of advanced lightweight aluminum, which
considerably brings down the car weight.
Automotive Structural Sheet Metal
Market Scope
The automotive
structural sheet metal market 2023 to gain considerable impetus at a high
rate between 2023 and 2030, which is the evaluation period. We will provide COVID-19
impact analysis with the report, offering all the key developments that can
affect the market post the coronavirus disease outbreak.
Notable Boosters and Main
Challenges
The substantial growth of the automotive structural sheet metal
market in recent years has been the result of the surge in car ownership and
the expanding automotive industry worldwide. The large-scale production of different
vehicle models can also be a plus point for the global market. Structural sheet
metals are observing widespread demand in the developing nations in light of
the growing car ownership and the sharp economic surge. The increasing per
capita income and the consequent boom in the automobile sales can also provide
lucrative opportunities to the automotive structural sheet metal market in
emerging regions.
The weight reduction in vehicles is an emerging trend, with the
rising use of light weight metal components also gaining speed among automakers
since these have excellent specific strength and low density. Technological innovations
in manufacturing of structural sheet metals like coining techniques and hybrid
electromagnetically assisted sheet metal stamping machines can also amp up the
industry growth in the coming years.
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On the downside, the market growth can be negatively impacted by
the fluctuations in the price of aluminum and steel, which are some of the
commonly used structural sheet metals. The use of substitutes like fiber and plastic
composite components in vehicles can also be another growth demoting factor in
the global market. With that said, the automotive structural sheet metal market
will be quick to recover, due to the increasing hype surrounding autonomous,
mobility services, digitization, electric powertrains and driving within the automotive
industry across the globe.
Market Segmentation
Vehicle type and application are the key segments depending on
which the automotive structural sheet metal industry has been considered in the
MRFR study.
The vehicle types taken in account are commercial vehicles and
passenger vehicles.
The application-wise market sections can be exterior and chassis.
Regional Analysis
The automotive structural sheet metal market has been regionally
segregated into Europe, MEA/the Middle East & Africa, APAC/Asia Pacific and
North America.
Europe, along with North America, has taken the lead in the global
market for automotive structural sheet metal. Both the regions are known for
their well-developed automotive sectors with heavy concentration of world
renowned automakers like Ford, BMW and Fiat. Also, the large scale spending
that goes into research and development activities for development of more
advanced vehicles also induces major profits for the regional markets. The
accelerated sale of electric and hybrid vehicles along with the surge in engine
downsizing trend to control emission level also promotes market expansion in
Europe as well as North America.
The APAC market’s expansion rate has been incredible, as a result
of the increasing vehicle ownership and the overall striking growth of the automotive
industry. The rapid shift of international manufacturers to the region to
leverage the high availability of government subsidies, tax rebates and cheap
labor also back the growth of the automotive structural sheet metal market.
China can remain as the top performing market in the region, thanks to the
rampant demand of aluminum while producing transmission, chassis, and various exterior
and interior components.
In MEA, the automotive industry is still not quite developed,
which means that the automotive structural sheet metal industry in the region
can expect moderate growth in the ensuing years. However, these regions can
present several attractive opportunities over the next few years, as many automotive
structural sheet metal manufacturers are increasingly investing to benefit from
the mounting demand for cars and other vehicles.
Top Market Participants
Top market participants are A&E Manufacturing Company(U.S.),
ATAS International Inc(U.S.), Associated Materials LLC(U.S.), BlueScope Steel
Limited(Australia), ABC Sheet Metal(U.S.), Noble Industries(U.S.), United
States Steel Corporation(U.S.), Alcoa Inc(U.S.), Autoline Industries Ltd
(India), Bud Industries Inc. (U.S.), Wise Alloys LLC(U.S.), Prototek(India), Nucor
Corporation(U.S.), General Sheet Metal Works Inc(U.S.), NCI Building Systems
Inc. (U.S.), and more.
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