Automotive Aluminum Extrusion Market Size Analysis, Competitive Landscape, Revenue Status, Forecast 2022-2031
Posted On June 6, 2022
[view original post
Shibuya-ku, Tokyo, Japan, Japan, Jun 06, 2022, 12:30 /Comserve / — Automotive Aluminum Extrusion Market With Top Countries Data, Industry Analysis , Size, Share, Revenue, Prominent Players, Developing Technologies, Tendencies and Forecast
The Automotive Aluminum Extrusion Market was valued at USD 29 billion in 2020, and it is expected to reach USD 58 billion by 2026, registering a CAGR of around 11% during the forecast period
The COVID-19 pandemic has created various disruptions in the Automotive Aluminum Extrusion Market due to factory shutdowns and trade restrictions owing to lockdowns imposed by various governments across the world to contain the spread of the virus. In addition, the decline in metal production due to a drop in demand and lack of workforce under widespread lockdown has cast a major influence on the market.
However, the market is expected to regain its momentum during the forecast period as manufacturers in the automotive aluminum extrusion market have resumed full operations in countries with a limited number of COVID-19 cases. Moreover, manufacturers are also adopting contingency plans to address future uncertainty in businesses to maintain continuity with customers who are a part of essential sectors in the automotive industry.
Click Here to Download Sample Report >>
New Aluminum Alloys with Thermal Deformation Suit Lightweight Applications and the increase in demand for electric vehicles that required high aluminum extruded products can favor the market. Growing R&D in extrusion equipment is contributing toward the growth of the automotive aluminum extrusion market.
For instance, manufacturers should take cues from the Constellium University Technology Center at Brunel University London to develop one-of-its-kind extrusion equipment, which deploys rapid prototyping of automotive components. The Asia-Pacific region is anticipated to hold the largest market share due to major manufacturing sectors in countries such as China, India, Vietnam, Japan, and South Korea.
Key Market Trends
Electric Vehicles To Propel the Growth of the Market
Aluminum is gaining popularity as the fastest-growing automotive material. Electric vehicles (EVs) are driving the automotive aluminum extrusion market. The growing use of aluminum in chassis applications, vehicle closure parts, and body-in-white parts are bolstering the market growth. As such, automakers are adapting to new mobility standards and are likely to have a positive impact on the growth of aluminum in the Electric Vehicles sector.
Many manufacturers and aluminum extrusion parts supplying companies are coming up with innovations and products in this field. For instance,
Constellium NV has developed a novel cold-plate technology for efficient cooling of battery modules in EVs. The novel bent extrusion corner design is developed with no space wastage, no chips from drilling, and only a small degree of deformation.
Tesla-designed Model S uses a four-inch-deep aluminum box running throughout the length of the car for the battery pack support, which, when joined with the aluminum body structure, becomes three times stronger.
In general, EVs make use of aluminum and aluminum extrusions to improve fuel economy (in PHEVs), provide better range (in BEVs), safety, and overall driving aesthetics. Extrusions can commonly be found in space frames, doors, hoods, hang-on parts, trunk lids, bumpers, crash boxes, bodies in white, and car bodies, among other components.
The high thermal conductivity of an aluminum extrusion part deems it as an excellent option for removing heat from the vehicle. Alloy strength and extrusion profile also play a critical role when considering EV crash management.
The Asia-Pacific Region to Play a Significant Role in the Market
Asia-Pacific and Europe are projected to be highly lucrative markets, followed by North America during the forecast period. This is primarily due to the presence of a prominent automotive industry in China, Germany, Japan, and India. The rise in demand for electric vehicles across Asia-Pacific is likely to boost the automotive aluminum extrusion market in the region.
The surge in demand for electric vehicles due to the enactment of stringent emission norms across Asia-Pacific is likely to propel the aluminum extrusion market across the region. In addition, the growing demand for different commodities required as battery enclosures and structural components in electric vehicles can fuel the rise of the regional market.
Europe has the presence of major OEMs and tier-1 suppliers who have advanced research and development facilities, which in turn is anticipated to boost the automotive aluminum extrusion market across Europe. The enforcement of strict regulations on vehicular and greenhouse gas emissions can contribute to the rise of the market.
North America is also anticipated to play a significant role in the development of the Automotive Aluminum Extrusion Market, with the United States holding the majority market share in the region. The growth in the region can be attributed to the implementation of Corporate Average Fuel Economy (CAFE) standards in the region.
Request For The Sample Report Here:
The Automotive Aluminum Extrusion Market is a moderately consolidated one. The market is characterized by the presence of considerably large players who have tie-ups with major automotive manufacturers. The companies are entering into strategic partnerships, acquisitions, and product developments to expand their brand portfolio. For instance,
In March 2019, Norsk Hydro ASA purchased the two extrusion plants at Arconic in Brazil, aimed to strengthen the market position of the former and to establish a strong platform for growth.
In June 2019, Alucast, which is one of the UK’s largest independent aluminum foundries, secured more than Euro 3 million of new contracts from carmakers looking to explore ways of reducing weight on future models.
Some of the important players in the market include Novelis Inc., Constellium NV, Norsk Hydro ASA, Kaiser Aluminum, and Kobelco Aluminum Products & Extrusions Inc.
1.1 Study Assumptions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Industry Attractiveness – Porter’s Five Forces Analysis
4.3.1 Bargaining Power of Suppliers
4.3.2 Bargaining Power of Consumers
4.3.3 Threat of New Entrants
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1.1 Body Structure
5.1.4 Other Types
5.2.2 Pickup Trucks
5.2.3 Class 8 Trucks
5.2.4 Electric Vehicles
5.3.1 North America
184.108.40.206 United States
220.127.116.11 Rest of North America
18.104.22.168 United Kingdom
22.214.171.124 Rest of Europe
126.96.36.199 South Korea
188.8.131.52 Rest of Asia-Pacific
5.3.4 Rest of the World
184.108.40.206 South America
220.127.116.11 Middle-East and Africa
6 COMPETITIVE LANDSCAPE
6.1 Vendor Market Share
6.2 Company Profiles *
6.2.1 Constellium SE
6.2.2 Norsk Hydro ASA
6.2.3 Novelis Inc.
6.2.4 Kobelco Aluminum Products & Extrusions Inc.
6.2.5 Bonnell Aluminum Extrusion Company
6.2.6 Kaiser Aluminum Corp.
6.2.7 Innoval Technology
6.2.8 SMS Schimmer
6.2.9 Omnimax International
6.2.10 Walter Klein GmbH & Co. KG
6.2.11 BENTELER International
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
Request For Full Report >> Automotive Aluminum Extrusion Market
The dynamic nature of business environment in the current global economy is raising the need amongst business professionals to update themselves with current situations in the market. To cater such needs, Shibuya Data Count provides market research reports to various business professionals across different industry verticals, such as healthcare & pharmaceutical, IT & telecom, chemicals and advanced materials, consumer goods & food, energy & power, manufacturing & construction, industrial automation & equipment and agriculture & allied activities amongst others.