Automotive
Plain Carbon ERW Tubes Market Trends Overview:
The global Automotive Plain Carbon ERW Tubes
Market Trends is projected to register a 4.2% CAGR from 2023 to 2032 (forecast
period). The report outlines the market opportunities and market implications
that arose as a result of the COVID-19 pandemic.
The automotive industry is rising at an accelerated pace. As this sector
rises, the demand for better components is also growing, increasing the demand
for and installation of automotive pain carbon ERW tubes. These tubes are used
for steering, body frames, and shock absorbers. ERW tubes are made of carbon
after combining with sulfur, manganese, and other materials. These tubes have
excellent weldability and are ideal for cold deformed shapes. The expansion of
the aftermarket segment and the increase in demand for lightweight yet powerful
has provided this market with lucrative growth opportunities.
Plain Carbon ERW Tubes Market Dynamics
Rapidly developing regions will create maximum opportunities for market
players. Companies are making their supply chains stronger, which will allow
market players to achieve their targets at a very fast pace. Companies are
investing in research and development initiatives to unfold new aspects, put
additional pressures on the industry, and allow the market to speed up.
Apart from its uses and features, the global Automotive Plain Carbon ERW
Tubes Market Trends faces challenges from the unstable cost of raw materials,
which has hindered the global market's growth.
Plain Carbon ERW Tubes Market Key Players
- JFE Steel Corporation
(Japan)
- AK Steel Corporation (US)
- Innoventive Industries
Limited (India)
- Hyundai Steel (South Korea)
- Nippon Steel Corporation
(Japan)
- Tata Precision Tubes (India)
- Jindal Pipes Ltd (India)
- ArcelorMittal (Luxembourg)
- Tubular Steel Inc. (US)
- and Rexal Tubes (India)
Plain Carbon ERW Tubes Market Segmentation
The global market for automotive plain carbon ERW tubes has been
segmented into application and vehicle type.
By application, the market has been segregated into frames, suspension,
exhaust, and others. In 2018, the frame segment had the largest market share.
The tubes in the vehicle frame assemblies must be too rigid and solid to reach
the payload capacity and withstand shocks, twists, tension, and vibrations when
driving on uneven roads. Automotive component manufacturers are mainly
developing vehicle chassis by using carbon-containing ERW tubes to meet the
demand for fuel and payload performance. In addition, frames are manufactured
with the support of plain carbon ERW tubes. It is commonly used to manufacture
seat frames, body frames, rear body frames, bumper frames, and headrest frames.
By vehicle type, the market has been segregated as a passenger car and
commercial vehicle. Passenger cars broadly use automotive plain carbon ERW
tubes around steering links, steering column, shock absorber, propeller shaft,
tie rod, and axel tube. The growth in demand for passenger cars due to an
increase in population and an increase in buying power is projected to increase
the share of the passenger car segment. The demand for passenger safety from
individual users and government standards is anticipated to propel the growth
of this segment over the projected period.
Plain Carbon ERW Tubes Market Regional Analysis
Regionally, the global Automotive Plain Carbon ERW Tubes Market Trends
has been segmented into Europe, North America, Asia Pacific, and the rest of
the world.
North America is expected to see an excellent rise in the Automotive
Plain Carbon ERW Tubes Market Trends. The growing demand for ERW tubes in
various automotive applications and the increase in vehicle production are the
main factors driving the market's growth in this area. This area is
distinguished by the involvement of leading plain carbon ERW tubes
manufacturers and tier-1 vehicle component suppliers, who also sell their
products to aftermarket buyers, like chassis and frame remanufacturing,
rebuilding, and recycling firms. The presence of prominent plain carbon ERW tubes
manufacturers like North American Steel & Pipe, AK Tube Corporation, and
Innoventive Industries Limited is expected to further increase demand for plain
carbon ERW tubes in the area during the forecast period.
In 2018, Europe had the second-largest market share in the global Automotive
Plain Carbon ERW Tubes Market Trends. Growing investment in R&D by regional
market players, a spike in vehicle sales, and many automotive component
suppliers in the region. In 2017, the European Automotive Manufacturers'
Association (ACEA) estimated that automobiles and related components exported
by the region amounted to USD 142,725.1 million. Prominent automotive plain
carbon ERW tubes manufacturers are expanding their presence across a growing
distribution channel and the stock market in this area, which further increases
the demand for plain carbon ERW tubes, components, and parts from premium
German OEMs, like Audi, Mercedes, and BMW, is pushing global market players to
improve and grow their operating network in Europe.
Asia Pacific is one of the key markets for automotive plain carbon ERW
tubes. Due to developing countries such as China, India, and Japan, the region
is the largest market. The expansion of the automotive component manufacturing
industry in the Asia Pacific is driven by the burgeoning automotive
manufacturing industry, mainly in India, China, and Malaysia. As a result,
global automotive component manufacturers have developed their production and
distribution facilities in the Asia Pacific.
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