The global automotive structural sheet metal market is expected to grow considerably and capture a moderate CAGR over the forecast period of 2011-2027, reveals a research report published by Market Research Future (MRFR). The automotive structural sheet metal market has observed considerable growth in the past few years primarily owing to rising car ownership and growing automotive industry on a global scale. Rising production of cars and heavy automobiles is expected to propel the market growth as it would result in a higher demand for structural sheet metals. Developing countries have witnessed a steep rise in automobile ownership which has fostered the growth of the market. Economic growth and rising disposable income has boosted the sales of automobiles which, in turn, has driven the market for automotive structural sheet metal. The trend of weight reduction or using light weight metal components for their low density and high specific strength has also augmented the growth of the market. Furthermore, technological developments in the manufacturing process of structural sheet metals such as hybrid electromagnetically assisted sheet metal stamping machines, coining techniques, also reflected positively on the market.
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Segmentation
The global automotive structural sheet metal market has been segmented based on vehicle type, application, and regions. By vehicle type, the market has been segmented into passenger vehicle and commercial vehicle. By application, the market has been segmented into Chassis and Exterior.
Regional Analysis
The key markets of the global automotive structural sheet metal market include North America, Europe, Asia-Pacific and the Middle East & Africa. North America and Europe market for automotive structural sheet metal is strong due to the presence of well-established automotive industry in the region coupled with the concentration of major key players in the regions. Additionally, high investment in research and development activities in the region facilitates growth. Asia pacific market is growing due to rising vehicle ownership and growth of the automotive industry in the region. Moreover, the global shift of manufacturers to Asia Pacific to capitalize on the availability of cheap labor, government subsidies and tax rebates has supported the growth of the automotive industry in the region. China remains the key contributor in the region.
Competitive Landscape
The global automotive structural sheet metal market is highly competitive characterized by the presence of local and international players. The key players compete based on service, customized products and expertise. The major players functioning in the market include LLC(U.S.), A&E Manufacturing Company(U.S.), BlueScope Steel Limited(Australia) General Sheet Metal Works Inc(U.S.), Inc., Nucor Corporation(U.S.), Alcoa Inc(U.S.), Noble Industries(U.S.), Prototek(India), ABC Sheet Metal(U.S.), ATAS International Inc(U.S.), Bud Industries Inc(U.S.), NCI Building Systems(U.S.), United States Steel Corporation(U.S.), Wise Alloys LLC(U.S.), and Autoline Industries Ltd(India) among others.
Industry Updates
In June 2018, a new center for metal processing was opened at Brunel University, London. Named the Advanced Metal Processing Center (AMPC), the center will aid manufacturers to work with Brunel on large-scale research and development activity and enable innovations of novel automotive structures for car parts. The center was funded by UK government of USD 20 Million.
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