Rising number of personal vehicles due to traveling long distances from homes, offices, educational institutions, and shopping centers is expected to drive Automotive Metals market

Market Research Future (MRFR) has published a cooked research report on the "Global Automotive Metals Market" that contains information from 2018 to 2032. The Automotive Metals market is estimated to register a CAGR of 5.20% during the forecast period of 2023 to 2032.

MRFR recognizes the following companies as the key players in the global Automotive Metals market— Allegheny Technologies Incorporated, ArcelorMittal SA, JSW Steel Ltd, Nippon Steel Corporation, Novelis Inc.(Hindalco Industries Limited), Nucor Corporation, POCSO, Tata Steel Ltd, Thyssenkrupp AG, United States Steel Corporation and Voestalpine AG

Market Highlights

The global Automotive Metals market is accounted to register a CAGR of 5.20% during the forecast period. It is estimated to reach USD 148.02 billion by 2032.

The rising demand for personal vehicles, increasing disposable income, and government initiatives to improve the capacity for automobile manufacture are driving the market. The high cost of automobiles is anticipated to restrain the market growth. Additionally, producing electric and hybrid vehicles to comply with government rules and regulations regarding the environment is anticipated to promote the growth of the global Automotive Metals market.

Segment Analysis

The global Automotive Metals market has been segmented based on products, applications, and end users.

On the basis of product, the market is segmented into aluminum, steel, and magnesium. The steel segment was attributed to holding the largest market share in 2022 due to steel's reasonable prices and superior attributes.

Browse In-depth Details [Table of Content, List of Figures, List of Tables] of Automotive Metals Market Growth Report

Based on application, the global Automotive Metals market has been segmented into body structure, power train, suspension, and others. The body structure segment was expected to hold the largest market share in 2022 due to its low ownership cost and high grade of recycled nature.

Based on end users, the Automotive Metals Market has been segmented into passenger cars, light commercial vehicles, and heavy commercial vehicles. The passenger cars segment was expected to hold the largest market share in 2022 due to rising demand for passenger automobiles.

Regional Analysis

The global Automotive Metals market, based on region, has been divided into North America, Europe, Asia-Pacific, and the Rest of the World. North America consists of the US and Canada. The European Automotive Metals market comprises Germany, France, the UK, Italy, Spain, and the Rest of Europe. The Automotive Metals market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the Rest of Asia-Pacific. The Rest of the World Automotive Metals market comprises of Middle East, Africa, and Latin America.

The largest market share for Automotive Metals was maintained by the North American regional sector. This increase is attributed to rising fuel efficiency and the adoption of electric vehicles in the area. Additional market growth factors include increased investor investments, government support, and the technology's viability. Implementing stringent rules, the growing trend of using environment-friendly automobiles, and the considerable presence of significant technology providers and major production companies all impact the US market.

Moreover, the European market has been persistently growing over the forecast period. The demand for Automotive Metals is driven by rising demand for personal vehicles and increasing disposable income.

Additionally, due to government policies, consumer preferences, environmental regulations, and competition, Asia Pacific is anticipated to experience the quickest growth over the forecast period. The Asia Pacific market will benefit from a growing emphasis on environmentally friendly vehicles.

Furthermore, the Rest of the World's Automotive Metals market is divided into the Middle East, Africa, and Latin America. This growth is attributed to the region's rising use of electric vehicle research and development. Government support, a rise in investor interest, and the viability of the technology in the sector contribute to market expansion.

Key Findings of the Study

• The global Automotive Metals market is expected to reach USD 148.02 billion by 2032, at a CAGR of 5.20% during the forecast period.


• The Asia-Pacific region accounted for the fastest-growing global market due to the increasing emphasis on government policies, consumer preference, and riding disposable income.


• Based on application, the body structure segment was attributed to holding the largest market in 2022, with an approximate market share of X–X%.


• Allegheny Technologies Incorporated, ArcelorMittal S.A., JSW Steel Ltd, Nippon Steel Corporation, Novelis Inc. (Hindalco Industries Limited), Nucor Corporation, POCSO, Tata Steel Ltd., Thyssenkrupp AG, United States Steel Corporation, and Voestalpine AG.