Global Automotive Magnesium Alloy Market is expected to grow at a significant CAGR in the upcoming years as the scope and its applications are increasing across the globe. Automotive Magnesium Alloy is light metal alloys which are widely utilized in automobiles original equipment manufacturing (OEM). The most striking features associated with magnesium alloys include rigidity, higher strength, ductility, higher specific strength, high thermal stability, and it is light in weight.
The factors that propel the growth of the Automotive Magnesium Alloy Market include increasing demand, rapid urbanization & industrialization, and product development & technological innovations. Automotive Magnesium Alloy Industry is classified on the basis of product type, applications, distribution channel and geography. This market is segmented by product type as wrought magnesium alloy, cast magnesium alloy and others.
Automotive Magnesium Alloy Market is classified on applications as passenger vehicles and commercial vehicles. Automotive Magnesium Alloy Industry is segmented by distribution channel as online stores, specialty stores and others. Automotive Magnesium Alloy Market is classified on the basis of geography as North America, Latin America, Western Europe, Eastern Europe, Asia Pacific, Japan and Middle East and Africa.
The North American region consists of the U.S., and Canada. Latin America region consists of Mexico and Brazil. The Western European region consists of Germany, Italy, France, England and Spain. The Eastern European region consists of Poland and Russia. Asia Pacific region consists of China, India, ASEAN, and Australia & New Zealand. The Middle East and African region consists of GCC, South Africa and North Africa.
In case of geographical region, Asia Pacific is expected to account a significant share of the Automotive Magnesium Alloy. The key factors that attribute to the growth of this region include growth in vehicle production, rise in disposable income and ever increasing population. Some of the key players that fuel the growth of the Automotive Magnesium Alloy Industry include Autoliv, DongGuanEontec, DY Group, Faw Foundry, GF, Qingoo Technology, Nanjing Yunhai Special Metals, Shanghai Meridian Magnesium, STOLFIG, TAKATA, and others. The key players are focusing on inorganic growth to sustain themselves amidst fierce competition. As such, mergers, acquisitions, and joint ventures are the need of the hour.
Geographically, this report is segmented into several key Regions, with production, consumption, revenue (million USD), market share and growth rate of Automotive Magnesium Alloy in these regions, from 2013 to 2025 (forecast), covering
• North America
• Southeast Asia
Global Automotive Magnesium Alloy market competition by top manufacturers, with production, price, revenue (value) and market share for each manufacturer; the top players including
• Nanjing Yunhai Special Metals
• DongGuan Eontec
• Faw Foundry
• DY Group
• Shanghai Meridian Magnesium
• Qingoo Technology
On the basis of product, this report displays the production, revenue, price, market share and growth rate of each type, primarily split into
• Wrought Magnesium Alloy
• Cast Magnesium Alloy
On the basis of the end users/applications, this report focuses on the status and outlook for major applications/end users, consumption (sales), market share and growth rate for each application, including
• Passenger Vehicles
• Commercial Vehicles
Research Support Specialist, USA