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 Insights

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.

Market Snapshot - (2024-2031)

Global Market Size

USD 72.62 Billion

Largest Segment

Aluminum

Fastest Growth

Steel

Growth Rate

5.3% CAGR

Global Automotive Structural Sheet Metal Market ($ Bn)
Country Share for North America Region (%)

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Automotive Structural Sheet Metal Market Segmental Analysis

Based on types, the market is segmented into chassis and exterior sheet metal. Based on material type, the market is segmented into aluminium and steel. Based on application, the market is segmented into passenger and commercial vehicles. Based on region, the market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.

Analysis by Type

External sheet metal is the dominant segment in the market and the outer part of the vehicle covers the other components. The main function of this category is to provide safety for drivers, passengers and equipment in the vehicle while also improving its aesthetics. Vehicle exterior metal frames can be divided into two categories: exterior body parts and exterior trim. Car features include the roof, floor cabinets, door frames, seat frames, and other small details not visible from the outside.

The chassis acts as the backbone of the vehicle, providing support and stability and the fastest growing segment. Steel components, such as framerails, cross-members and floor panels, form the structural basis of the chassis. These components are designed to withstand a range of loads including impact, rotational forces and vibration, which will improve vehicle stability, handling and occupant safety.

Analysis by Material Type

The aluminum segment is dominating in the market valued for its light weight, which makes it an ideal material for automobiles. Automakers looking to improve fuel economy and reduce emissions are increasingly turning to aluminum rather than heavier steel. The low aluminum footprint allows for significant weight savings without compromising structural integrity, contributing to fuel efficiency and environmental sustainability. The aluminum alloy exhibits excellent tensile strength, making it suitable for accident handling and occupant safety.

The steel segment is the fastest growing in the market and known for its exceptional strength and durability, making it a desirable material for automotive applications. High strength steel grades including Advanced High Strength Steels (AHSS) and Ultra High Strength Steels (UHSS) provide superior mechanical properties, impact resistance and crash performance, thereby providing occupant protection in the event of a collision. Steel costs less than aluminum, making it desirable for mass-production vehicles and cost-effective auto parts. The wide range of metals available and manufacturing processes allows for cost optimization while meeting business requirements, contributing to overall affordability and market competitiveness.

Global Automotive Structural Sheet Metal Market By Material Type (%), 2022 (%)

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Automotive Structural Sheet Metal Market Regional Insights

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.

The expansion rate of the APAC region in the market has been high as car ownership expands, car sales general striking growth is a rapid change with global manufacturers taking advantage of greater accessibility of government sponsorships in the region, tax cuts and fewer businesses following growth a preferred sheet metal market. China could remain a high performing market in the area due to widespread interest in aluminum as it supplies transmission, undercarriage, exterior and interior components.

Global Automotive Structural Sheet Metal Market By Geography, (2024-2031)
  • Largest
  • Fastest

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Automotive Structural Sheet Metal Market Dynamics

Drivers

Growing Demand for Lightweight Materials

  • 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.

Increasing the Use of Advanced Manufacturing Technologies

  • Advanced manufacturing technologies such as water treatment, thermal printing and precision blanks allow for stronger and lighter automotive parts. This technology offers benefits such as improved structural integrity, improved accident prevention, and lower costs. Automakers are increasingly adopting this technology to meet regulatory requirements, improve vehicle performance and improve overall production efficiency.

Restraints

High Initial Investment Costs

  • The production of structural steel requires significant capital investment and advanced manufacturing technology. The high initial costs associated with tools, equipment, and training can be a barrier to entry for smaller manufacturers. Cost considerations may restrict the adoption of advanced manufacturing technologies, especially in companies with limited budgets.

Supply Waste and Material Costs

  • The automotive industry can disrupt supply chains, which can affect structural steel raw materials and costs. Changes in commodity prices, especially steel and aluminum, can affect production and profitability. Uncertainties in the global supply chain, including trade disputes and geopolitics, can pose challenges for automakers in sourcing raw materials and raw materials.

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Automotive Structural Sheet Metal Market Competitive Landscape

The global 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.

Top Player’s Company Profiles

  • 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)

Recent Developments

  • 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.

Automotive Structural Sheet Metal Key Market Trends

  • 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.

Automotive Structural Sheet Metal Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.

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. The high initial costs associated with tools, equipment, and training can be a barrier to entry for smaller manufacturers. Growing demand for electric vehicles (EVs) and autonomous vehicles is driving the adoption of lightweight buildings to improve energy efficiency and extend driving range.

Report Metric Details
Market size value in 2022 USD 72.62 Billion
Market size value in 2031 USD 115.59 Billion
Growth Rate 5.3%
Base year 2023
Forecast period (2024-2031)
Forecast Unit (Value) USD Billion
Segments covered
  • Types
    • Chassis and Exterior Sheet Metal
  • Material Type
    • Aluminium and Steel
  • Application
    • Passenger and Commercial Vehicles
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • 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)
Customization scope

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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Automotive Structural Sheet Metal Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Automotive Structural Sheet Metal Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Automotive Structural Sheet Metal Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Automotive Structural Sheet Metal Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Automotive Structural Sheet Metal Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Automotive Structural Sheet Metal Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQs

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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