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The automotive industry utilizes aluminum to manufacture structure body of cars, engines, parts, and more. As aluminum is lightweight, stronger, and less corroded than steel or other base metal. These features make manufacturing of automobile parts with aluminum more profitable and demand fewer labor costs. On the other hand, aluminum is a little expensive than other base metal.
Due to an upsurge in vehicle production from the last few years owing to the rising disposable income of individuals is boosting the entire automotive industry. A boom in car manufacturing also increases the use of aluminum for manufacturing automotive parts. This factor is responsible for driving the growth of the aluminum automotive parts market. Nevertheless, the manufacturing of electric cars is also rising which is expected to gain high momentum in the future and so will provide healthy opportunities to the players operating in the aluminum automotive parts market.
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Top Dominating Key Players:
1. Alcoa Inc.
2. Aleris Corporation
3. AMG Advanced Metallurgical Group
4. Constellium SE
5. ElringKlinger AG
6. Kaiser Aluminum
7. Novelis, Inc. (Aditya Birla Group)
8. Norsk Hydro ASA
9. RIO Tinto
10. UACJ Corporation
The global aluminum automotive parts market is segmented on the basis of product type, application, and vehicle type. Based on product type, the aluminum automotive parts market is segmented into extruded aluminum, cast aluminum, and rolled aluminum. On the basis of vehicle type, it is segmented into passenger cars, light commercial vehicles, and heavy commercial vehicles. Based on application, the aluminum automotive parts market is segmented into powertrain, chassis and suspension, body structure, and others.
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global aluminum automotive parts market based on various segments. It also provides market size and forecast estimates from the year 2018 to 2027 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. The aluminum automotive parts market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
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The report analyzes factors affecting the aluminum automotive parts market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South & Central America after evaluating political, economic, social and technological factors affecting the aluminum automotive parts in these regions.