Automotive structural sheet metal market has witnessed a significant surge, mainly due to the current hype regarding the mobility services, autonomous, driving, digitization and electric powertrains, dominating the automotive industry. The global market for global Automotive Structural Sheet Metal market is expected to witness significant growth between 2016 and 2023.
Market Highlights:
Over the past decade, it has been experienced that the prices of crude oil per barrel is increasing very rapidly and also the availability the crude oil is decreasing day by day. Due to these factors, the mind-set of large pool of population is shifting their preference towards electric vehicles. In the last 3 to 4 years, the demand for electric vehicles in the United States is rapidly increasing, and has seen around 70% of year-over-year growth in sales. Along with the United States, Norway has also put a step ahead and has shifted more focus towards electric vehicles. As per market statistics, every third of a new car, is an electric car. Also, the country has the highest proportion of 6.4%, worldwide, followed by Sweden i.e. 3.4%. Such a shift to electric vehicles due to rapidly rising fuel prices, is expected to, positively impact the automotive structural sheet metal market.
Global Automotive Structural Sheet Metal Market:
With manufacturers focusing on development of lightweight components for automobiles, the demand for fuel efficient vehicles, is rapidly rising across the globe. Stringent government policies in the form of emission taxes and penalties and overall growing awareness regarding the environment, are expected to aid the growth of automotive structural sheet metal. With manufacturers investing in development of lightweight structural sheet metal to be integrated in vehicles to reduce emissions, the market is poised for rapid growth during the forecast period.
The key players of global automotive structural sheet metal market are Associated Materials LLC(U.S.), ABC Sheet Metal(U.S.), A&E Manufacturing Company(U.S.), ATAS International Inc(U.S.), BlueScope Steel Limited(Australia), Bud Industries Inc(U.S.), General Sheet Metal Works Inc(U.S.), NCI Building Systems(U.S.), Inc., Nucor Corporation(U.S.), United States Steel Corporation(U.S.), Alcoa Inc(U.S.), Wise Alloys LLC(U.S.), Noble Industries(U.S.), Autoline Industries Ltd(India) and Prototek(India). In 2016, these companies accounted for a share of XX% of the global market.
Market Research Analysis:
Weight reduction in vehicles is a major trend in the market that is expected to boost the demand, with manufacturers opting for lightweight materials to ensure reduction in emission rates. With major manufacturers and suppliers in the automotive industry competing at a global level, the intensity of competition within the automotive industry, has increased. Such intense competition is pushing various manufacturers and suppliers, across the supply chain to develop high quality structural sheet metal for acquiring greater market share.
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https://www.articletrunk.com/press-release-automotive-adaptive-front-light-market/
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