Automotive Aluminum Market worth 111.80 Billion USD by 2026

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MarketsandMarkets Presents
Automotive Aluminum Market Projected to Reach
111.80 Billion USD by 2026
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utomotive-aluminum-market-122258570.html
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The report "Automotive Aluminum Market by Product
Form (Cast Aluminum, Rolled Aluminum, Extruded
Aluminum), Application (Powertrain, Chassis
Suspension, Car Body), Vehicle Type (Passenger
Car, LCV, HCV), Region - Global Forecast to
2026", The automotive aluminum market is
projected to grow from USD 47.91 Billion in 2016
to USD 111.80 Billion by 2026, at a CAGR of 8.8
from 2016 to 2026. Browse 81 market data tables
and 76 figures spread through 164 pages and
in-depth TOC on Automotive Aluminum Market -
Global Forecast to 2026 Request FREE PDF
Brochure https//www.marketsandmarkets.com/pdfdo
wnload.asp?id122258570 Increased demand for
automotive aluminum from automobile manufacturers
to reduce weight of vehicles is propelling the
growth of the automotive aluminum
market. Research Methodology This study aims
to estimate the size of the automotive aluminum
market for 2016 and project its demand till 2026.
It also provides a detailed qualitative and
quantitative analysis of the automotive aluminum
market. Various secondary sources that include
directories, industry journals, various
associations, and databases have been used to
identify and collect information useful for this
extensive commercial study of the automotive
aluminum market. Primary sources, such as experts
from related industries and suppliers have been
interviewed to obtain and verify critical
information as well as to assess future prospects
of the automotive aluminum market.
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utomotive-aluminum-market-122258570.html
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Scope of the Report This research report
categorizes the automotive aluminum market on the
basis of product form, application, vehicle type,
and region. It forecasts revenues as well as
analyzes trends in each of the submarkets. On
the basis of Application Powertrain Chassis
Suspension Car Body On the basis of Product
Form Cast Aluminum Rolled Aluminum Extruded
Aluminum On the basis of Vehicle
Type Passenger Car LCV HCV On the basis of
Region Asia-Pacific Europe North America
Middle East Africa Latin America
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utomotive-aluminum-market-122258570.html
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Industry Insights The automotive aluminum
market is projected to grow from USD 47.91
Billion in 2016 to USD 111.80 Billion by 2026, at
a CAGR of 8.8 from 2016 to 2026. Increased
demand for lightweight and efficient materials
from the automotive industry is fueling the
demand for automotive aluminum as it not only
reduces weight of automobile components, but also
of the complete body of automobiles by up to
50. The powertrain application segment led the
automotive aluminum market in 2016, in terms of
value. The growth of the powertrain application
segment of the automotive aluminum market can be
attributed to increased use of aluminum in
automotive manufacturing in the North American
and Asia-Pacific regions. Request FREE Sample
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mple.asp?id122258570 Among product forms, the
cast aluminum segment accounted for the largest
share of the automotive aluminum market in 2016.
The growth of this segment of the automotive
aluminum market can be attributed to increasing
demand for lightweight components made of cast
aluminum for engines and powertrains that improve
both, fuel efficiency as well as overall dynamics
of vehicles. The car body application segment
accounted for the third-largest share of the
automotive aluminum market in 2016. This segment
is projected to grow at the highest CAGR from
2016 to 2026. The growth of this segment can
mainly be attributed to increasing use of rolled
aluminum by automobile manufacturers for
manufacturing car bodies to reduce weight of
cars, thereby resulting in improved fuel
efficiency as well as driving dynamics of
vehicles.
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utomotive-aluminum-market-122258570.html
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Industry Leaders   The factor inhibiting the
growth of the automotive aluminum market is
higher manufacturing cost of aluminum as compared
to steel. Key market players operating in the
automotive aluminum market, such as Alcoa
Inc./Arconic Inc. (U.S.), Novelis Inc. (U.S.),
UACJ Corporation (Japan), Norsk Hydro ASA
(Norway), AMG Advanced Metallurgical Group
(Netherlands), Constellium N.V. (Netherlands),
CHALCO (China), and Rio Tinto (U.K.), among
others have adopted various strategies to
increase their market shares and strengthen their
position in the market. New product launches,
expansions, acquisitions, and agreements are some
of the key strategies adopted by market players
to achieve growth in the automotive aluminum
market. For more Info Visit Blog
https//chemicalsresearchmarket.wordpress.com/blog
/ Geographical Scenario   The North American
region accounted for the largest share of the
automotive aluminum market in 2016. The growth of
the North America automotive aluminum market can
be attributed to implementation of Corporate
Average Fuel Economy (CAFE) standards in the
region, which mandate automobile companies to
strive for fuel efficiency of 27.5 miles per
gallon (mpg) for cars and 23.5 miles per gallon
(mpg) for trucks by 2016 and 37.8 miles per
gallon for cars (mpg) and 28.8 miles per gallon
(mpg) for trucks within the next few years. Thus,
automobile companies in the North American region
prefer aluminum over steel as it helps to achieve
improved aerodynamics and reduces weight of
vehicles, thereby resulting in fuel savings.
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