Competitive Landscape
AGCO Corporation (U.S), Kobe Steel, Ltd. (Japan), AMG Advanced Metallurgical Group NV (Netherlands), ArcelorMittal SA (Luxembourg), Alcoa Inc. (U.S.), Norsk Hydro ASA (Norway), ThyssenKrupp AG (Germany), UACJ Corporation (Japan), Constellium (Netherlands), and Aditya Birla Group (India) are the key players in the Alloys for automotive market size.
Market Segmentation
The global Alloys for automotive market size has been segmented based type, application, and vehicle.
By type, the Alloys for automotive market size has been segmented into iron, steel, copper, titanium, and others. The steel segment is the largest segment. Steel is the most used material for the production of vehicles, especially in developing countries.
By application, the Alloys for automotive market size has been segmented chassis, powertrain, interior, and exterior.
By vehicle, the Alloys for automotive market size has been segmented into passenger vehicle and commercial vehicle. The passenger vehicle segment is anticipated to capture the larger share of the market due to the growing need for transportation across the globe.
Regional Analysis
Region-wise, the Alloys for automotive market size has been segmented into North America, the Middle East & Africa (MEA), Europe, and Asia Pacific (APAC).
North America follows APAC closely. The region too is exhibiting substantial growth since the last few years and is poised to capture the second largest share of the market over the forecast period. Rising production of electric vehicles along with high sales of luxury cars, are driving the market in North America.
Europe too is a significant revenue pocket for the Alloys for automotive market size. Significant investments in the automotive industry by key players in the region, along with fuel efficiency regulations, are boosting the growth of the Europe market.
Industry Updates
June 2019 - a new single-step advanced alloy manufacturing process could be a major breakthrough for the automotive industry. A team at the US Department of Energy’s Pacific Northwest National Laboratory has discovered the process which produces nanostructured rods and tubes from high-performance aluminum alloy powder. The process eliminates various steps that are generally a part of the usual process whilst achieving a sharp increase in product quality.