Automotive Aluminum Market Size, Revenue, Shares, And Global Industry DemandPosted by Neha Bora on October 3rd, 2019 San Francisco, 3 October 2019: The Report Automotive Aluminum Market Size, Share & Trends Analysis Report By End Use (Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles), By Application, And Segment Forecasts, 2019 – 2025 The global automotive aluminum market size is expected to reach USD 60.58 billion by 2025, according to a new report by Grand View Research, Inc. It is projected to register a CAGR of 8.7% during the forecast period. Rising emission standards and concerns regarding environment protection are triggering the growth. In August 2018, as per the new agreement between U.S, Mexico, and Canada, around 75% parts of cars or trucks must be manufactured in these three countries to qualify for zero tariffs. North American Free Trade Agreement (NAFTA) announced that the cars and trucks need to achieve the 54.5 mpg fuel efficiency by 2025. These government initiatives are focused on facilitating the auto manufacturers to reduce the weight of the car body by 25%. The major aluminum forms used in the automotive industry are castings, rolled products, extruded products, and stampings. Aluminum coupled with copper, manganese, or silicon is used in the automotive industry to manufacture components with high strength. The benefits such as light weight, high strength, and lower emission are expected to encourage car manufacturers to choose aluminum as a material of choice. According to OICA, the global automotive production including passenger cars and commercial vehicles was 89.8 million units in 2014 and it reached 97.3 million units in 2017. This shows an increasing demand for vehicles, which in turn is anticipated to fuel the utilization of aluminum in the forthcoming years. Automakers are now using lightweight materials such as aluminum to improve the fuel efficiency of vehicles. The primary restraint for the industry is rise in the input costs such as energy, wage, and production, to name a few. In addition, changes in the regulatory landscape and growing concern regarding environment have pushed the manufacturers of the sector to opt for new technologies which can provide measures to save energy and enhance production output. Access Research Report of Automotive Aluminum Market @ www.grandviewresearch.com/industry-analysis/automotive-aluminum-market Further key findings from the report suggest:
Browse more reports of this category by Grand View Research at: www.grandviewresearch.com/industry/automotive-and-aerospace-interior-materials Grand View Research has segmented the global automotive aluminum market on the basis of end use, application, and region: Automotive Aluminum End Use Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
Automotive Aluminum Application Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
Automotive Aluminum Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
Access Press Release of Automotive Aluminum Market @ www.grandviewresearch.com/press-release/global-automotive-aluminum-market About Grand View Research Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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