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

Global 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 global market is growing due to increase in production and sales of commercial vehicles with increasing population in developing countries like China and India. This has led to the introduction of chassis or exterior panels made from SSM which is anticipated to increase its market growth over the forecast period. Increased penetration of safety materials, including anti-collision technology, is driving manufacturers to advanced materials such as aluminum alloys that can help reduce weight and increase strength has been used. These factors have increased the demand of consumers for small but durable vehicles thus increasing the overall industry expansion rate during the forecast period.

Current hype about mobility services, autonomous, driving, digitization & electric powertrains, dominating the car industry are the major drivers for growth of automotive structural sheet metal market in recent few due to increasing car ownership and acquisition of auto industry growth across the world The automotive structural sheet steel market has grown significantly over the years with vehicles having rapid growth in emerging economies leading to market growth.

The trend of weight reduction due to their low density and high specific strength has also boosted the market growth. Also, technological advancements in structural sheet metal manufacturing process, such as hybrid electromagnetically assisted sheet metal printing machines, coining techniques, were also well reflected in the market Papers were required.