Global Automotive Structural Sheet Metal Market

Automotive Structural Sheet Metal Market Size, Share, Growth Analysis, By Types(Chassis and Exterior Sheet Metal), By Material Type(Aluminium and Steel), By Application(Passenger and Commercial Vehicles), By Region - Industry Forecast 2024-2031

Report ID: SQMIG25A2249 | Region: Global | Published Date: April, 2024
Pages: 224 | Tables: 84 | Figures: 71

Automotive Structural Sheet Metal Market News

  • In October 2023, POSCO completed the construction of an automotive steel plate plant in China. The plant is a joint venture between POSCO and HBIS, with an annual capacity of 450,000 tones.
  • In April 2023, Valin ArcelorMittal Automotive Steel in China announced the start of construction of its second project. The project includes the installation of this new continuous galvanization line with an annual capacity of 450,000 tons. These additions increase the company’s total capacity to 2 million tons per year.
  • In April 2023, EPA announced stricter environmental regulations for light and medium vehicles. The rules apply to vehicles manufactured between 2027 and 2032, which contain greenhouse gases and other pollutants such as ozone, oxides of nitrogen, particulate matter and carbon monoxide.
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Automotive Structural Sheet Metal Market size was valued at USD 72.62 Billion in 2022 and is poised to grow from USD 76.47 Billion in 2023 to USD 115.59 Billion by 2031, growing at a CAGR of 5.3% in the forecast period (2024-2031).

The automotive structural steel metal market is characterized by prominent players such as ArcelorMittal, ThyssenKrupp AG, POSCO, SSAB AB and Nippon Steel Corporation. These companies invest heavily in research and development to develop new products and products, improve product performance and gain competitive advantage. Strategic partnerships, mergers and acquisitions are strategies used by leading players to expand their markets and strengthen their product lines. 'Associated Materials LLC(US)', 'ABC Sheet Metal (US)', 'AandE Manufacturing Company (US)', 'ATAS International Inc (US)', 'BlueScope Steel Limited (Australia)', 'Bud Industries Inc (US)', 'General Sheet Metal Works Inc (US)', 'NCI Building Systems (US)', 'Nucor Corporation (US)', 'United States Steel Corporation (US)', 'Alcoa Inc (US)', 'Wise Alloys LLC (US)', 'Noble Industries (US)', 'Autoline Industries Ltd (India)', 'Prototek (India)'

Lightweight materials have become a priority in the automotive industry to improve fuel efficiency and reduce carbon emissions. Structural sheet metal provides a balance of strength and weight, making it attractive to automakers. The demand for lightweight products is driven by strict fuel economy standards and consumer demand for environmentally friendly vehicles.

Rising Demand for Vehicles: Growing demand for electric vehicles (EVs) and autonomous vehicles is driving the adoption of lightweight buildings to improve energy efficiency and extend driving range. Increased emphasis on vehicle safety and crashworthiness is driving demand for advanced steel furniture with increased strength and impact resistance. Continued advances in materials science and engineering manufacturing are expected to drive further efficiencies and cost-effectiveness in the structural steel fabrication solutions.

North America is the dominating region in the market. A keen interest in innovation empowers manufacturers to push new strategies and innovations to take advantage of market processes. The North America region witnesses an increasing demand for commercial vehicles. It is increasing over time with increasing population being one of the factors driving its higher demand with several categories of vehicle manufacturers witnessing growth in industry.

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Global Automotive Structural Sheet Metal Market

Report ID: SQMIG25A2249

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