Alloys for Automotive Market Research Report – Global Forecast to 2030

Alloys for Automotive Market Information Report by Type (Iron, Titanium, Steel), by Application (Chassis, Powertrain), by Vehicles (Passenger Vehicle and Commercial Vehicles) and by Region - Global Forecast to 2030

ID: MRFR/AM/1378-HCR | December 2022 | Region: Global | 100 Pages         

Alloys for Automotive Market

Strict government regulations for environmental safety are also driving the alloys for automotive market. Global market is expected to register a CAGR of about 7.6%.

Segmentation

By Type Iron Titanium Steel
By Application Chassis Powertrain
By Vehicles Passenger Vehicle Commercial Vehicles

Key Players

  • ArcelorMittal SA (Luxembourg)
  • Aditya Birla Group (India)
  • Alcoa Inc. (U.S.)
  • UACJ Corporation (Japan)
  • ThyssenKrupp AG (Germany)
  • Kobe Steel
  • Ltd. (Japan)
  • Norsk Hydro ASA (Norway)
  • AMG Advanced Metallurgical Group NV (Netherlands)
  • Constellium (Netherlands)
  • AGCO Corporation (U.S)

Drivers

  • Reduce overall weight
  • Resistance to corrosion over pure metals.
  • fuel efficient vehicles
  • Reduced weight
  • Improved performance
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Strict government regulations for environmental safety are also driving the alloys for automotive market is expected to register USD 1,77,470 million a CAGR of about 7.6% during the forecast period.


Alloys for Automotive Market Scenario


The automotive alloy wheel market is in a growth phase due to increasing demand for lightweight wheels that have the same strength as steel wheels alongside having high thermal stability & flexibility. Alloy wheels for the automotive sector are made from either an alloy of magnesium or aluminum or a mixture of both. Automotive alloy wheels are lightweight wheels that improve the steering and speed of a car.


Aluminum or magnesium alloy attracts heat in good proportions. The automotive alloy wheels decrease heat dissipation from brakes and reduce the risk of brake failure under extreme driving conditions. Automotive alloy wheels have complex geometry and satisfy various design criteria, such as weight, style, performance, and manufacturability.


Factors such as strength to weight ratio and better fuel consumption are emphasized during alloy wheel manufacturing. The quality of alloy wheels is tested and checked using advanced technology devices to accomplish customers’ demands and standards of the automobile industry. The increasing demand for lightweight and corrosion-resistant alloy wheels is increasing due to changing weather conditions, which is a crucial factor boosting the growth of the automotive alloy wheel market. Automotive alloy wheels support tubeless tires and offer a better grip on brakes.


Alloys for Automotive Market Key Players


The leading players in the Alloys for Automotive market are ArcelorMittal SA (Luxembourg), Aditya Birla Group (India), Alcoa Inc. (U.S.), UACJ Corporation (Japan), ThyssenKrupp AG (Germany), Kobe Steel, Ltd. (Japan), Norsk Hydro ASA (Norway), AMG Advanced Metallurgical Group NV (Netherlands), and Constellium (Netherlands), and AGCO Corporation (U.S) and others.


Recent Developments


In the current scenario, the preference for alloy wheels over factory-fitted wheels has led to an increase in customization activity, which, in turn, will fuel sales in the aftermarket segment during the forecast period. It is expected to become a driver for the automotive alloy wheel market.


Intended Audience



  • Vehicles manufacturers

  • Alloys manufacturers

  • Technology investors

  • Scientists and Researchers

  • Government as well as Independent Regulatory Authorities


Alloys for Automotive Market Segmentation


 Alloys for Automotive Market Segmentation


An alloy is a mixture of two or more chemical elements, one of which is a metal and is used in a wide variety of applications. In some cases, to reduce the cost of the material while in other cases, to provide strength, reduce overall weight and resistance to corrosion over pure metals. Automotive applications of alloys are growing due to increasing demand for more fuel efficient vehicles to reduce fuel consumption and air pollution. The growing demand for fuel efficient vehicles with reduced weight and improved performance is the major driving factor of alloys for automotive market. Strict government regulations for environmental safety are also driving the alloys for automotive market. Global market is expected to register a CAGR of about 7.6%.


These are some of the benefits that are likely to increase the demand for automotive alloy wheels, which will accelerate the growth of the automotive alloy wheel market in the upcoming years. The nominal reduction in fuel consumption and precise steering handling are other essential factors that will drive the growth of the automotive alloy wheel market.


Alloys for Automotive Market Regional Analysis


Asia Pacific is dominating the global market and followed by North America and Europe. Asia Pacific is expected to be leading the market by the end of the forecasted period due to increasing annual vehicle production and demand of vehicles in this region. Developing countries such as China, Japan and India are the key markets for alloys in the Asia Pacific region.


Global Alloys for Automotive Market, By Region, 2016 (USD billion)


Global Alloys for Automotive Market, By Region, 2016 (USD billion)


The report covers brief analysis of country level market information –



  • North America

    • U.S.

    • Canada

    • Mexico

    • South America

    • Brazil

    • Argentina

    • Rest Of South America



  • Europe

    • Germany

    • U.K.

    • France

    • Italy

    • Rest Of Europe



  • Asia–Pacific

    • China

    • India

    • Japan

    • Rest of Asia Pacific



  • Middle East & Africa

    • Saudi Arabia

    • UAE

    • Qatar

    • South Africa

    • Rest Of Middle East & Africa




Geographic Analysis




  • Geographical analysis across 21 countries




Company Information



  • Profiling of key market players

  • SWOT analysis, and strategy  information of top five profile players in the report

  • Competitive landscape including emerging trends adopted by major companies


Alloys for Automotive Market Study Objectives



  • To provide detailed analysis of the market structure along with forecast for the next 5 years of the various segments and sub-segments of the Global Alloys for Automotive Market.

  • To provide insights about factors affecting the market growth.

  • To Analyze the Global Alloys for Automotive Market based on various factors such as supply chain analysis, and Porter’s five force analysis.

  • To provide historical and forecast revenue of the market segments and sub-segments with respect to regions and their respective key countries.

  • To provide country level analysis of the market with respect to the current market size and future prospective.

  • To provide country level analysis of the market for segments by Type, by Application, by Vehicles and sub segments.

  • To provide strategic profiling of key players in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market.

  • To track and analyze competitive developments such as joint ventures, strategic alliances, mergers and acquisitions, new product developments, and research and developments in the global alloys for automotive industry.



Report Scope:

Report Attribute/Metric Details
  Market Size   2030 : USD 1,77,470 Million
  CAGR   7.6% CAGR (2022-2030)
  Base Year   2021
  Forecast Period   2022-2030
  Historical Data   2019 & 2020
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   by Type, by Application, by Vehicles
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   ArcelorMittal SA (Luxembourg), Aditya Birla Group (India), Alcoa Inc. (U.S.), UACJ Corporation (Japan), ThyssenKrupp AG (Germany), Kobe Steel, Ltd. (Japan), Norsk Hydro ASA (Norway), AMG Advanced Metallurgical Group NV (Netherlands), and Constellium (Netherlands), and AGCO Corporation (U.S)
  Key Market Opportunities

  • Reduce overall weight
  • Resistance to corrosion over pure metals.
  •   Key Market Drivers

  • fuel efficient vehicles
  • Reduced weight
  • Improved performance


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    Frequently Asked Questions (FAQ) :

    Alloys for Automotive Market is Expected to Reach USD 1,77,470 Million By 2030.

    Alloys for the Automotive Market Growing at a CAGR of 76% During the Forecast Period of 2022 – 2030.

    List of Key Players Such as ArcelorMittal SA, Aditya Birla Group, Alcoa Inc., UACJ Corporation, ThyssenKrupp AG, Kobe Steel, Ltd., Norsk Hydro ASA, AMG Advanced Metallurgical Group NV, and Constellium, and AGCO Corporation.


    • Fuel-efficient vehicles

    • Reduced weight

    • Improved performance


    Those factors will drive the Alloys for Automotive Market.

    The Asia Pacific Region Will Dominate the Alloys for Automotive Market.