Automotive Aluminum Market worth 111.80 Billion USD by 2026

1. MarketsandMarkets Presents Automotive Aluminum Market Projected to Reach 111.80 Billion USD by 2026 https://www.marketsandmarkets.com/Market-Reports/automotive-aluminum-market-122258570.html

2. The report "Automotive Aluminum Market by Product Form (Cast Aluminum, Rolled Aluminum, & Extruded Aluminum), Application (Powertrain, Chassis & Suspension, & Car Body), Vehicle Type (Passenger Car, LCV, & HCV), Region - Global Forecast to 2026", The automotive aluminum market is projected to grow from USD 47.91 Billion in 2016 to USD 111.80 Billion by 2026, at a CAGR of 8.8% from 2016 to 2026. Browse 81 market data tables and 76 figures spread through 164 pages and in-depth TOC on “Automotive Aluminum Market - Global Forecast to 2026“ Request FREE PDF Brochure : https://www.marketsandmarkets.com/pdfdownload.asp?id=122258570 Increased demand for automotive aluminum from automobile manufacturers to reduce weight of vehicles is propelling the growth of the automotive aluminum market. Research Methodology: This study aims to estimate the size of the automotive aluminum market for 2016 and project its demand till 2026. It also provides a detailed qualitative and quantitative analysis of the automotive aluminum market. Various secondary sources that include directories, industry journals, various associations, and databases have been used to identify and collect information useful for this extensive commercial study of the automotive aluminum market. Primary sources, such as experts from related industries and suppliers have been interviewed to obtain and verify critical information as well as to assess future prospects of the automotive aluminum market. https://www.marketsandmarkets.com/Market-Reports/automotive-aluminum-market-122258570.html

3. Scope of the Report: This research report categorizes the automotive aluminum market on the basis of product form, application, vehicle type, and region. It forecasts revenues as well as analyzes trends in each of the submarkets. On the basis of Application: Powertrain Chassis & Suspension Car Body On the basis of Product Form: Cast Aluminum Rolled Aluminum Extruded Aluminum On the basis of Vehicle Type: Passenger Car LCV HCV On the basis of Region: Asia-Pacific Europe North America Middle East & Africa Latin America https://www.marketsandmarkets.com/Market-Reports/automotive-aluminum-market-122258570.html

4. Industry Insights: The automotive aluminum market is projected to grow from USD 47.91 Billion in 2016 to USD 111.80 Billion by 2026, at a CAGR of 8.8% from 2016 to 2026. Increased demand for lightweight and efficient materials from the automotive industry is fueling the demand for automotive aluminum as it not only reduces weight of automobile components, but also of the complete body of automobiles by up to 50%. The powertrain application segment led the automotive aluminum market in 2016, in terms of value. The growth of the powertrain application segment of the automotive aluminum market can be attributed to increased use of aluminum in automotive manufacturing in the North American and Asia-Pacific regions. Request FREE Sample Pages: https://www.marketsandmarkets.com/requestsample.asp?id=122258570 Among product forms, the cast aluminum segment accounted for the largest share of the automotive aluminum market in 2016. The growth of this segment of the automotive aluminum market can be attributed to increasing demand for lightweight components made of cast aluminum for engines and powertrains that improve both, fuel efficiency as well as overall dynamics of vehicles. The car body application segment accounted for the third-largest share of the automotive aluminum market in 2016. This segment is projected to grow at the highest CAGR from 2016 to 2026. The growth of this segment can mainly be attributed to increasing use of rolled aluminum by automobile manufacturers for manufacturing car bodies to reduce weight of cars, thereby resulting in improved fuel efficiency as well as driving dynamics of vehicles. https://www.marketsandmarkets.com/Market-Reports/automotive-aluminum-market-122258570.html

5. Industry Leaders: The factor inhibiting the growth of the automotive aluminum market is higher manufacturing cost of aluminum as compared to steel. Key market players operating in the automotive aluminum market, such as Alcoa Inc./Arconic Inc. (U.S.), Novelis Inc. (U.S.), UACJ Corporation (Japan), Norsk Hydro ASA (Norway), AMG Advanced Metallurgical Group (Netherlands), Constellium N.V. (Netherlands), CHALCO (China), and Rio Tinto (U.K.), among others have adopted various strategies to increase their market shares and strengthen their position in the market. New product launches, expansions, acquisitions, and agreements are some of the key strategies adopted by market players to achieve growth in the automotive aluminum market. For more Info Visit Blog:–https://chemicalsresearchmarket.wordpress.com/blog/ Geographical Scenario: The North American region accounted for the largest share of the automotive aluminum market in 2016. The growth of the North America automotive aluminum market can be attributed to implementation of Corporate Average Fuel Economy (CAFE) standards in the region, which mandate automobile companies to strive for fuel efficiency of 27.5 miles per gallon (mpg) for cars and 23.5 miles per gallon (mpg) for trucks by 2016 and 37.8 miles per gallon for cars (mpg) and 28.8 miles per gallon (mpg) for trucks within the next few years. Thus, automobile companies in the North American region prefer aluminum over steel as it helps to achieve improved aerodynamics and reduces weight of vehicles, thereby resulting in fuel savings. https://www.marketsandmarkets.com/Market-Reports/automotive-aluminum-market-122258570.html

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