Market Synopsis:
Alloys are mixtures of two or more materials. Alloys in automotive industry have found multiple core applications. This analysis of the global Alloys for Automotive Market Size has been offered by Market Research Future (MRFR). According to the findings in this report, the market is expected to strike 7% CAGR over the forecast period. Alloys for automobile helps in providing resistance to corrosion, thus, elongating the lifespan of the vehicle. This factor is supposed to drive the expansion of the Alloys for Automotive Market Size in the foreseeable future.
Alloys for automotive structural applications play a key role in the development of the market. The rising demand for safer and crash-proof cars is anticipated to influence the growth curve of the Alloys for Automotive Market Size in the years to come. In addition, the number of road accidents has been on a rise since years. The governments are issuing mandates for cars to pas collision tests before making it to the markets. This, in turn, is anticipated to catapult the Alloys for Automotive Market Size on upward trajectory.
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The increasing inclination towards lightweight auto components is presumed to boost demand for alloys for cars in the forthcoming years. In addition, increasing sales of automobiles is also poised to expand the Alloys for Automotive Market Size over the forecast period.
Market Segmentation:
The division of the Alloys for Automotive Market Size, based on type, covers iron, steel, titanium, copper, and others.
On the basis of backing application, the alloys automotive market has been segmented into comprises chassis, interior, exterior, and powertrain.
On the basis of vehicle type, the Alloys for Automotive Market Size has been divided into passenger vehicle and commercial vehicles.
Regional Analysis:
The geographical evaluation of the global Alloys for Automotive Market Size has been covered in the report for the following regional segments – Asia Pacific (APAC), Europe, South America, the Middle East Africa (MEA), and North America. The segments are then assessed on the level of key countries present. Asia Pacific s presumed to lead the proliferation of the market. The alloys for automotive industry in the region are expected to boom due to the rising demand for automobiles. Increasing per capita income of the region is prognosticated to play a key role in the expansion of the demand for automobiles, thus, supporting market growth.
North America is a major segment and is likely to secure the second position in the market place. The consolidation of major automobile manufacturers in the region is expected to support its growth curve in the foreseeable future. It is also poised to benefit from its strong economic development over the next couple of years.
Competitive Dashboard:
ArcelorMittal SA (Luxembourg), Alcoa Inc. (U.S.), Aditya Birla Group (India), UACJ Corporation (Japan), Kobe Steel, Ltd. (Japan), ThyssenKrupp AG (Germany), Norsk Hydro ASA (Norway), Constellium (Netherlands), AMG Advanced Metallurgical Group NV (Netherlands), and AGCO Corporation (U.S) are some of the most crucial players of the global Alloys for Automotive Market Size. These players are assessed to shed light on the share analysis of the global market. Some of the key strategies to be executed by these players in the coming years for growth are – collaborations, strategic alliances, mergers acquisitions, partnerships, etc.
Industry News:
In December 2019, Cleveland-Cliffs Inc., a specialist in iron ore, has announced that it has signed an agreement for the acquisition of AJ Steel Holding Corporation, a steelmaking company.
In December 2019, the BMW Group, a global leader in luxury cars, has announced its investment of 400 million euros in its Dingolfing vehicle production plant. The investment is to be utilized for the production of BMW iNEXT.
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Key Questions Addressed by the Report
What was the historic market size?
Which segmentation (Product/ Capacity) is driving market?
What will be the growth rate?
How are the key players in this market?
What are the strategies adopted by key players?
TABLE OF CONTENTS
1 EXECUTIVE SUMMARY
2 SCOPE OF THE REPORT
2.1 MARKET DEFINITION
2.2 SCOPE OF THE STUDY
2.2.1 DEFINITION
2.2.2 RESEARCH OBJECTIVE
2.2.3 ASSUMPTIONS
2.2.4 LIMITATIONS
2.3 RESEARCH PROCESS
2.3.1 PRIMARY RESEARCH
2.3.2 SECONDARY RESEARCH
2.4 MARKET SIZE ESTIMATION
2.5 FORECAST MODEL
3 MARKET LANDSCAPE
3.1.1 THREAT OF NEW ENTRANTS
3.1.2 BARGAINING POWER OF BUYERS
3.1.3 THREAT OF SUBSTITUTES
3.1.4 SEGMENT RIVALRY
3.1.5 BARGAINING POWER OF BUYERS
3.2 VALUE CHAIN/SUPPLY CHAIN ANALYSIS
4 MARKET DYNAMICS
4.1 INTRODUCTION
4.2 MARKET DRIVERS
4.3 MARKET RESTRAINTS
4.4 MARKET OPPORTUNITIES
4.5 MARKET TRENDS
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