Global Automotive Aluminium Alloy Market
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Global Automotive Aluminium Alloy Market was valued US$ 31.83 Bn in 2019 and is expected to reach US$ XX Bn by 2026, at a CAGR of XX % during a forecast period.
The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.
The driving factor of aluminum alloy reduces the load on the vehicle and hence, less power is required by the engine to drive the vehicle, which increases fuel efficiency and reduces pollution. The share of aluminum alloys in automobiles is estimated to increase since automobile manufacturers are developing lightweight vehicles with aluminum alloys. Reduction in the vehicle’s weight enables OEMs to reduce emissions, improve fuel efficiency and driving dynamics for the end users. The changing regulatory requirements and rising demand for fuel-efficient vehicles is estimated to drive the growth of aluminum alloys in automobiles. The major restraints factors include high cost and engineering barriers. These factors could negatively affect the demand for adoption of lightweight alloys.
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