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Automotive Structural Sheet Metal Market 2019
Automotive Structural Sheet Metal Market Share, Size, Trends, And Business Opportunity
Analysis Report 2019 include historic data, with forecast data to 2023. Automotive Structural
Sheet Metal Market report is helpful for future strategy development, and to know about
Market Drivers, Restraints, Opportunities, And Global market size, share, Growth, Trends, key
players forecast to 2023
Global Automotive Structural Sheet Metal Market Information Report by Application (Chassis
and Exterior), Vehicle Type (Passenger Vehicle and Commercial Vehicle), and by Regions -
Global Forecast To 2023
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The global automotive structural sheet metal market is expected to grow considerably and
capture a moderate CAGR over the forecast period of 2011-2027, reveals a research report
published by Market Research Future (MRFR). The automotive structural sheet metal market
has observed considerable growth in the past few years primarily owing to rising car ownership
and growing automotive industry on a global scale. Rising production of cars and heavy
automobiles is expected to propel the market growth as it would result in a higher demand for
structural sheet metals. Developing countries have witnessed a steep rise in automobile
ownership which has fostered the growth of the market. Economic growth and rising
disposable income has boosted the sales of automobiles which, in turn, has driven the market
for automotive structural sheet metal. The trend of weight reduction or using light weight
metal components for their low density and high specific strength has also augmented the
growth of the market. Furthermore, technological developments in the manufacturing process
of structural sheet metals such as hybrid electromagnetically assisted sheet metal stamping
machines, coining techniques, also reflected positively on the market. With advancement in
the manufacturing of structural sheet metal technologies, the production of such components
has become feasible at low cost and is the preferred choice of automotive manufacturers.
Stringent regulatory policies pertaining to emission standards and environmental concerns has
also resulted in demand for light weight structural sheets and has driven the market growth.
However, volatility in the price of steel and aluminum is a major restraint to the market growth.
Threat from substitutes such as use of plastic and fiber composite components in automotive
usage is expected to hinder the growth of the market.
Segmentation
The global automotive structural sheet metal market has been segmented based on vehicle
type, application, and regions. By vehicle type, the market has been segmented into passenger
vehicle and commercial vehicle. By application, the market has been segmented into Chassis
and Exterior.