Automotive Aluminum Alloy (OE) Market Forecasts to 2028 – Global Analysis By Product (Cast Aluminium, Rolled Aluminium), Channel (Aftermarket, OEM), Application (Wheels, Driveline, Body Parts) and By Geography
According to Stratistics MRC, the Global Automotive Aluminum Alloy (OE) Market is accounted for $4,038.53 million in 2020 and is expected to reach $10,435.91 million by 2028 growing at a CAGR of 12.6% during the forecast period. Developments and advancements in the transportation sector, growing demand for electric vehicles across the globe and high utilization of aluminum in vehicle manufacturing application are driving the market growth. However, high cost associated with the technology and engineering barriers are hampering the growth of the market.
Aluminum is being utilized in the body and different parts of vehicles by manufacturers for light weighting their vehicles leading to better fuel efficiency. Automotive aluminum alloys are used in manufacturing of powertrain, chassis, and exterior and interior parts of commercial and passenger vehicles to reduce their weight and increase fuel efficiency.
Based on the application, the heat exchanger segment is going to have lucrative growth during the forecast period as heat exchangers are widely employed in vehicles for various applications such as engine cooling, fuel cooling, condenser and evaporators for air conditioning system. Aluminum alloy has high thermal conductivity, corrosion resistance property and good formability owing to which aluminum is used in heat exchangers. By geography, Asia Pacific is going to have high growth during the forecast period due to the presence of a prominent automotive industry in the developing nations, high vehicle production and increasing production and sales of electric vehicles, especially in China.
Some of the key players profiled in the Automotive Aluminum Alloy (OE) Market include ArcelorMittal SA, UACJ Corporation, ThyssenKrupp AG, Novelis Inc., AMG Advanced Metallurgical Group NV, Massey Ferguson Ltd, Kobe Steel, Ltd., Constellium NV, Alcoa Inc. and Norsk Hydro ASA.
Estimated Market Size in 2020:
USD 4,038.53 million
Compound Annual Growth Rate (CAGR) from 2020 to 2028:
Predicted 2028 Value:
USD 10,435.91 million
Tables, Graphs& Figures
Type, Vehicle Type, Product, Sales Channel, Application, Heat Sensitivity Type and Region
Core Drivers and Opportunities:
Restraining Factors & Market Threats:
• 10 mg
• 20 mg
• 30 mg
Vehicle Types Covered:
• Passenger Vehicles
• Commercial Vehicle
• Electric Vehicle
• Cast Aluminium
• Rolled Aluminium
• Extruded Aluminium
Sales Channels Covered:
• Original Equipment Manufacturer (OEM)
• Heat Exchanger
• Engine Component
• Body Parts
Heat Sensitivity Types Covered:
• Heat-Treatable (Al-Mg-Si)
• Non Heat-Treatable (Al-Mg-Mn)
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2019, 2020, 2021, 2025 and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Key Questions Answered In The Report
The Global Automotive Aluminum Alloy (OE) Market is majorly driven by increasing demand for electric vehicles across the globe, advancements in the transportation sector and high utilization of aluminum in vehicle manufacturing application.
The heat exchanger segment is growing at a highest CAGR as heat exchangers are highly employed in vehicles for various applications. Aluminum alloy has high thermal conductivity, corrosion resistance property and good formability due to which aluminum is used in heat exchangers.
Europe dominated with a significant market share due to the high usage of aluminum used in vehicles, rise in the number of lightweight vehicles and the implementation of stringent emission norms in the region.
Asia Pacific region is growing at a highest CAGR owing to the presence of a prominent automotive industry in the developing nations, high vehicle production and increasing production and sales of electric vehicles, especially in China.
Key players in Automotive Aluminum Alloy (OE) Market include Arcelor Mittal SA, UACJ Corporation, ThyssenKrupp AG, Novelis Inc., AMG Advanced Metallurgical Group NV, Massey Ferguson Ltd, Kobe Steel, Ltd., Constellium NV, Alcoa Inc. and Norsk Hydro ASA.
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