Automotive Structural Sheet Metal Market 2018
Automotive Structural Sheet Metal Market Share, Size, Trends, And Business Opportunity Analysis Report 2018 include historic data, with forecast data to 2023. Automotive Structural Sheet Metal Market report is helpful for future strategy development, and to know about Market Drivers, Restraints, Opportunities, And Global market size, share, Growth, Trends, key players forecast to 2023
Global Automotive Structural Sheet Metal Market Information Report by Application (Chassis and Exterior), Vehicle Type (Passenger Vehicle and Commercial Vehicle), and by Regions – Global Forecast To 2023
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The global automotive structural sheet metal market is highly competitive characterized by the presence of local and international players. The key players compete based on service, customized products and expertise. The major players functioning in the market include LLC(U.S.), A&E Manufacturing Company(U.S.), BlueScope Steel Limited(Australia) General Sheet Metal Works Inc(U.S.), Inc., Nucor Corporation(U.S.), Alcoa Inc(U.S.), Noble Industries(U.S.), Prototek(India), ABC Sheet Metal(U.S.), ATAS International Inc(U.S.), Bud Industries Inc(U.S.), NCI Building Systems(U.S.), United States Steel Corporation(U.S.), Wise Alloys LLC(U.S.), and Autoline Industries Ltd(India) among others.
The global automotive structural sheet metal market is expected to grow considerably and capture a moderate CAGR over the forecast period of 2011-2027, reveals a research report published by Market Research Future (MRFR). The automotive structural sheet metal market has observed considerable growth in the past few years primarily owing to rising car ownership and growing automotive industry on a global scale. Rising production of cars and heavy automobiles is expected to propel the market growth as it would result in a higher demand for structural sheet metals. Developing countries have witnessed a steep rise in automobile ownership which has fostered the growth of the market. Economic growth and rising disposable income has boosted the sales of automobiles which, in turn, has driven the market for automotive structural sheet metal. The trend of weight reduction or using light weight metal components for their low density and high specific strength has also augmented the growth of the market. Furthermore, technological developments in the manufacturing process of structural sheet metals such as hybrid electromagnetically assisted sheet metal stamping machines, coining techniques, also reflected positively on the market. With advancement in the manufacturing of structural sheet metal technologies, the production of such components has become feasible at low cost and is the preferred choice of automotive manufacturers. Stringent regulatory policies pertaining to emission standards and environmental concerns has also resulted in demand for light weight structural sheets and has driven the market growth. However, volatility in the price of steel and aluminum is a major restraint to the market growth. Threat from substitutes such as use of plastic and fiber composite components in automotive usage is expected to hinder the growth of the market.
The global automotive structural sheet metal market has been segmented based on vehicle type, application, and regions. By vehicle type, the market has been segmented into passenger vehicle and commercial vehicle. By application, the market has been segmented into Chassis and Exterior.
The key markets of the global automotive structural sheet metal market include North America, Europe, Asia-Pacific and the Middle East & Africa. North America and Europe market for automotive structural sheet metal is strong due to the presence of well-established automotive industry in the region coupled with the concentration of major key players in the regions. Additionally, high investment in research and development activities in the region facilitates growth. Asia pacific market is growing due to rising vehicle ownership and growth of the automotive industry in the region. Moreover, the global shift of manufacturers to Asia Pacific to capitalize on the availability of cheap labor, government subsidies and tax rebates has supported the growth of the automotive industry in the region. China remains the key contributor in the region.
In June 2018, a new center for metal processing was opened at Brunel University, London. Named the Advanced Metal Processing Center (AMPC), the center will aid manufacturers to work with Brunel on large-scale research and development activity and enable innovations of novel automotive structures for car parts. The center was funded by UK government of USD 20 Million.
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