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Automotive Structural Sheet Metal Market Research Report |COVID-19 Impact, Outlook and Future Scope Analysis Forecast till 2023

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Shweta Raj
Automotive Structural Sheet Metal Market Research Report |COVID-19 Impact, Outlook and Future Scope Analysis Forecast till 2023

Automotive structural sheet metal market has witnessed a significant surge, mainly due to the current hype regarding the mobility services, autonomous, driving, digitization and electric powertrains, dominating the automotive industry.  The global market for global Automotive Structural Sheet Metal market is expected to witness significant growth between 2016 and 2023.

Market Highlights:

Over the past decade, it has been experienced that the prices of crude oil per barrel is increasing very rapidly and also the availability the crude oil is decreasing day by day. Due to these factors, the mind-set of large pool of population is shifting their preference towards electric vehicles. In the last 3 to 4 years, the demand for electric vehicles in the United States is rapidly increasing, and has seen around 70% of year-over-year growth in sales. Along with the United States, Norway has also put a step ahead and has shifted more focus towards electric vehicles. As per market statistics, every third of a new car, is an electric car. Also, the country has the highest proportion of 6.4%, worldwide, followed by Sweden i.e. 3.4%. Such a shift to electric vehicles due to rapidly rising fuel prices, is expected to, positively impact the automotive structural sheet metal market.  

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Global Automotive Structural Sheet Metal Market:

With manufacturers focusing on development of lightweight components for automobiles, the demand for fuel efficient vehicles, is rapidly rising across the globe. Stringent government policies in the form of emission taxes and penalties and overall growing awareness regarding the environment, are expected to aid the growth of automotive structural sheet metal. With manufacturers investing in development of lightweight structural sheet metal to be integrated in vehicles to reduce emissions, the market is poised for rapid growth during the forecast period.   

The key players of global automotive structural sheet metal market are Associated Materials LLC(U.S.), ABC Sheet Metal(U.S.), A&E Manufacturing Company(U.S.), ATAS International Inc(U.S.), BlueScope Steel Limited(Australia), Bud Industries Inc(U.S.), General Sheet Metal Works Inc(U.S.), NCI Building Systems(U.S.), Inc., Nucor Corporation(U.S.), United States Steel Corporation(U.S.), Alcoa Inc(U.S.), Wise Alloys LLC(U.S.), Noble Industries(U.S.), Autoline Industries Ltd(India) and Prototek(India). In 2016, these companies accounted for a share of XX% of the global market.

Market Research Analysis:

Weight reduction in vehicles is a major trend in the market that is expected to boost the demand, with manufacturers opting for lightweight materials to ensure reduction in emission rates. With major manufacturers and suppliers in the automotive industry competing at a global level, the intensity of competition within the automotive industry, has increased.  Such intense competition is pushing various manufacturers and suppliers, across the supply chain to develop high quality structural sheet metal for acquiring greater market share.  

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About Market Research Future

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.

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