Automotive Aluminium Alloy Market 2018-2028: Regional Analysis and Forecast | Techsci Research

TechSci Research's report titled "Global Automotive Aluminium Alloy Market By Product Form, By Vehicle Type, By Application, By Region, Competition, Forecast & Opportunities, 2018 – 2028" predicts growth in the global automotive aluminium alloy market during the forecast period due to the increased use of aluminium in vehicles. As a material, aluminium is preferred by manufacturers as it reduces the weight of the vehicle, which is necessary to meet expected fuel economy and emission standards. Stringent regulations related to emissions have compelled automakers to adopt lightweighting, which has contributed to the growth of the global automotive aluminium alloy market.

Cast aluminium is expected to continue to register the highest growth rate during the forecast period due to its use in making powertrain and engines. The passenger car segment is the leading segment in the global automotive aluminium alloy market and is anticipated to grow at a faster rate in the coming years. Lightweight wheels have become a focus of manufacturers as they provide better acceleration, stability, and increased comfort.

Major players operating in the global automotive aluminium alloy market include Austem Company Ltd, Aleris Corporation, Arconic Inc., Bharat Forge Limited, Constellium N.V., Flex-N-Gate Corporation, Gordon Auto Body Parts Co., Ltd., Kirchhoff Automotive GmbH, Magna International Inc., and Norsk Hydro ASA. These companies have adopted organic and inorganic strategies, such as product launch, investments, expansions, agreements, and contracts to ensure growth in the market. In 2018, Bharat Forge Ltd. announced a strategic partnership with Tevvar Motors, a company offering electric powertrain solutions for commercial vehicles and buses, to ensure fast growth in the electric vehicle market.

Mr. Karan Chechi, Research Director with TechSci Research, stated, "Growing stringent regulations related to fuel efficiency and emissions coupled with rising consumer demand for fuel-efficient vehicles are key factors for the growth of the global market for automotive aluminum alloy. Asia-Pacific is anticipated to dominate the market in coming years, on account of increasing production and sales of vehicles in economies, such as China and India, in addition to rising disposable income in the region."

“Global Automotive Aluminium Alloy Market By Product Form, By Vehicle Type, By Application, By Region, Competition, Forecast & Opportunities, 2018 – 2028” has evaluated the future growth potential of global automotive aluminium alloy market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in global automotive aluminium alloy market.

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