ICT RESEARCH REPORTS Automotive-Sheet-Metal-Components-Market | Page 2

•Asia Pacific is the largest region for the automotive metal sheet components market.
China is a leading market for aluminum and steel sheet components followed by Japan and
India. According to World Steel Association, China is accounted as a number one in steel
production. In 2016, China produces approximately 808 million tons of steel, which is
nearly a half of total steel production of the world. Also, in August 2017, high demand for
trucks and passenger cars in China led to the rise in it sales to around 5.3%. Automotive
Steel metal sheets are more widely used as compare to aluminum sheets owing to its
strength and durability. Therefore demand for steel sheets will remain dominant in the
forecast period. However, increase in demand of light weight and hybrid vehicles will rise
the demand for aluminum metal sheet components in the forecast period.
•According to World Steel Association, in 2015, European Union was estimated as the
second largest region for steel production, with a projected 166 million metric tons of
global steel production. Countries of European Union such as Germany, Italy, France, and
Belgium are the top importer and exporter of steel products. Germany is projected to have
exported around 24.7 million metric tons of steel and imported around 25 million metric
tons. Also, in UK, support from government for the automotive research and development
and the funding of around US$ 1.63 billion in R&D in car industry for the manufacturing of
lightweight material, low-carbon propulsion, and autonomous vehicles has augmented the
growth of automotive sheet metal components market in this region.
•North America’s automotive industry is the largest automotive manufacturing sector in
the world. U.S., Canada, and Mexico are the top manufacturers of automotive parts.
According to International Trade Administration, Canada is the top exporter of automotive
parts followed by Mexico. Exports of automotive parts of U.S to European Union shows
steady growths since 2012 to 2015, which increases approximately from US$ 5 billion to
US$ 7.2 billion. The demand for automobiles and rise in technology in automobile
manufacturing increases the demand for automotive sheet metal components in the
market over the forecast period,
Browse More About the Market Study @
https://www.coherentmarketinsights.com/ongoing-insight/automotive-sheet-metal-components-market-822
In March 2017, Motherson Sumi Systems Limited (MSSL) successfully acquired 93% shares of
Finland’s PKC Group Plc. PKC group is global commercial vehicle industry and MSSL is the leading
manufacturer of many automotive parts which provides significant presence in the Europe and
American commercial vehicle segment.
Key players in the Global Automotive Sheet Metal Components Market
Some of the key players operating in automotive sheet metal component market include Larsen
Manufacturing, LLC, General Stamping and Metal Works, Aleris International, Inc., Mayville
Engineering Company, Inc., Paul Craemer GmbH, O'Neal Manufacturing Services, Omax Autos
Ltd., Novelis, Inc., and Frank Dudley Ltd.