Global Automotive Sheet Metal Components Market: Rising Demand for Lightweight Vehicles to Drive Market, says TMR.
ALBANY, New York, Jun 09, 2017 (PR Newswire Europe via COMTEX) — ALBANY, New York, June 9, 2017 /PRNewswire/ — The global market for automotive sheet metal components [http://www.transparencymarketresearch.com/automotive-sheet-metal-components-market.html ] has a largely fragmented competitive landscape featuring a large number of small and large players and the leading four players collectively accounting for a nearly 40% of the overall market in 2016, observes Transparency Market Research (TMR) in a recent report.
Product innovation and development are key strategies adopted by most leading market players.
Companies are focusing more on research and development activities to create innovative products to capture and maintain larger market share globally.
China, one of the largest manufacturer of sheet metal components globally and one of the leading consumers of passenger vehicles, is expected to continue to drive the Asia Pacific market over the next few years, helping the regional market retain its top spot in the global market over the forecast period.
Get PDF Sample for this Research Report @http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=21887 Rising Production of Vehicles Globally to Drive Market In the past few years, there has been a vast rise in the production of vehicles across the globe owing to the rising demand and usage of passenger vehicles.
With the rise in the number of hybrid and electric vehicles in the automobile market, the application and market for sheet metal components in such vehicles is also expected to flourish in the near future.
Fluctuating Prices of Steel and Aluminum to Hinder Growth Prospects As steel and aluminum are the two most used materials used for the manufacturing of automotive sheet metal components so their availability and fluctuation in prices make a huge impact on the overall market of automotive sheet metal components.
China is the presently the leading producer of aluminum and steel globally.
This review of the global automotive sheet metal components market is based on a recent market research report published by Transparency Market Research, titled "Automotive Sheet Metal Components Market (Material – Steel and Aluminum; Application – Interior, Drivetrain, Engine, Exterior, and Chassis) – Global Industry Analysis, Market Size, Share, Growth, Trends, and Forecast, 2017-2025."