Automotive Aluminum Market Report: Trends, Forecast and Competitive Analysis
NEW YORK, Nov. 10, 2020 /PRNewswire/ -- Trends, opportunities and forecast in automotive aluminum market to 2025 by vehicle type (small cars, compact cars, mid-size cars, large cars, suvs and crossovers, mpvs, and pickups), product form (cast aluminum, rolled aluminum, extruded aluminum), application type (engine, transmission and driveline, heat transfer, wheels and brakes, structural component), and region (North America, Europe, Asia Pacific, and the Rest of the World)
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The future of aluminum in the automotive industry looks promising with opportunities in the passenger cars and commercial vehicles market. The aluminum in the automotive industry is expected to decline in 2020 due to global economic recession led by COVID-19. However, market will witness recovery in the year 2021 and it is expected to reach an estimated $43.2 billion by 2025 with a CAGR of 5% to 7% from 2020 to 2025. The major drivers for this market are increasing vehicle production, government regulations on the fuel economy and emission controls, increasing stringent safety regulations, and increasing gasoline prices.
Emerging trends, which have a direct impact on the dynamics of the automotive aluminum industry, include increasing use of aluminum in chassis and structural applications and development of advance manufacturing technologies to enhance the material strength. Alcoa, Novelis, Norsk Hydro, Constellium, and Aleris are the major aluminum suppliers in the automotive industry.
In this market, cast aluminum is the largest product form, whereas engine is the largest in application. Growth in various segments of theautomotive aluminum market are given below:
Aluminum in the Automotive Market by Segments
The study includes the automotive aluminum market size and forecast for the automotive aluminum market through 2025, segmented by vehicle type, product form, application, and the region as follows:
Automotive Aluminum Market by Vehicle Type [$M shipment analysis from 2014 to 2025]:
• Small Cars
• Compact Cars
• Mid - Size Cars
• Large Cars
• SUVs & Crossovers
• Multi- Purpose Vehicle
• Pickup Trucks
Automotive Aluminum Market by Product Form [$M shipment analysis from 2014 to 2025]:
• Cast Aluminum
• Rolled Aluminum
• Extruded Aluminum
• Others
Automotive Aluminum Market by Application [$M shipment analysis from 2014 to 2025]:
• Engines
• Transmission & Powertrains
• Heat Transfer
• Wheel & Brakes
• Structural Components
• Others
Automotive Aluminum Market by Region [$M shipment analysis for 2014 to 2025]:
• North America
• United States
• Canada
• Mexico
• Europe
• United Kingdom
• Germany
• Asia Pacific
• Japan
• China
• The Rest of the World
Some of the automotive aluminum companies profiled in this report include alcoa inc., novelis inc., norsk hydro asa , constellium n.v., kaiser aluminum corp., aleris international, inc., aluminum corporation of china limited, vimetco n.v.
The analyst forecasts that the cast aluminum will remain the largest market. Casting is a simple, inexpensive, and versatile way of forming aluminum into a wide array of products, which is expected to spur growth for this segment over the forecast period.
Within the automotive aluminum industry, passenger car will remain the largest market by value and volume and it also expected to witness the highest growth over the forecast period due to increasing production of small, compact, and luxury car and increasing penetration of aluminum material per vehicle to reduce the carbon emission and to increase fuel efficiency.
Asia Pacific will remain the largest region due to high vehicle production, improving economic conditions, and increasing investments by the industry players within the APAC region. Europe is expected to witness the highest growth over the forecast period because of stringent government regulations toward carbon emissions and increasing demand for aluminum in SUVs & crossovers, small cars, and compact cars.
Some of the features of this report:
• Market size estimates: automotive aluminum market size estimation in terms of value ($M) shipment.
• Trend and forecast analysis: Market trend (2014-2019) and forecast (2020-2025) by end use and use industry.
• Segmentation analysis: automotive aluminum market size by usage type, product type, and application in terms of value shipment.
• Regional analysis: automotive aluminum market breakdown by key regions such as North America, Europe, and Asia & Rest of World.
• Growth opportunities: Analysis on growth opportunities in different applications and regions of automotive aluminum in the automotive aluminum market.
• Strategic analysis: This includes M&A, new product development, and competitive landscape of automotive aluminum in the automotive aluminum market.
• Analysis of competitive intensity of the industry based on Porter's Five Forces model.
This report answers the following 11 key questions:
Q.1 What are some of the most promising, high-growth opportunities for the automotive aluminum by vehicle type (small cars, compact cars, mid-size cars, large cars, suvs and crossovers, multi-purpose vehicles, pickup trucks), by product form (cast aluminum, rolled aluminum, extruded aluminum, others), by applications (engines, transmissions and powertrains, heat transfer, wheels and brakes, structural components, and others), and by region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2 which segments will grow at a faster pace and why?
Q.3 which regions will grow at a faster pace and why?
Q.4 what are the key factors affecting automotive aluminum market dynamics? What are the drivers and challenges of the automotive aluminum market?
Q.5 what are the business risks and threats to the automotive aluminum market?
Q.6 what are the emerging trends in this automotive aluminum market and the reasons behind them?
Q.7 what are some changing demands of customers in the automotive aluminum market?
Q.8 what are the new developments in the automotive aluminum market? Which companies are leading these developments?
Q.9 who are the major players in this automotive aluminum market? What strategic initiatives are being implemented by key players for business growth?
Q.10 what are some of the competitive products and processes in this automotive aluminum area and how big of a threat do they pose for loss of automotive aluminum market share via product substitution?
Q.11 What M&A activity has occurred in the last 5 years in this automotive aluminum market?
Report Scope
Key Features Description
Base Year for Estimation 2019
Trend Period
(Actual Estimates) 2014-2019
Forecast Period 2020-2025
Pages 235
Market Representation / Units Revenue in US $ Billion
Report Coverage Market Trends & Forecasts, Competitor Analysis, New Product Development, Company Expansion, Merger Acquisitions & Joint Venture, and Company Profiling
Market Segments By vehicle type (small cars, compact cars, mid-size cars, large cars, suvs and crossovers, multi-purpose vehicles, pickup trucks), By Product Form (cast aluminum, rolled aluminum, extruded aluminum, others), By application (engines, transmissions and powertrains, heat transfer, wheels and brakes, structural components, and others)
Regional Scope North America (The United States, Canada, and Mexico), Europe (the UK and Germany), Asia Pacific (Japan and China), and RoW
Customization 10% Customization Without any Additional Cost
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