New York, June 29, 2022 (GLOBE NEWSWIRE) — The Automotive Europe aluminum extruded parts market is expected to be valued at $16.7 billion by 2032, according to the latest research from Persistence Market Research, a research and advisory firm. The report estimates the market to grow at a healthy CAGR of 5.9% over the period 2022-2032.

As aluminum can provide weight savings of up to 50% compared to traditional mild steel structures, it increases a vehicle’s energy efficiency. Aluminum vehicles have a 20% lower CO2 footprint than steel vehicles. As a result, it is expected that the demand for aluminum extrusions in automotive applications will increase significantly over the next few years.

The high thermal conductivity of an aluminum extrusion makes it an excellent choice for removing heat from a vehicle. Alloy strength and extruded profile are also key variables to consider when trying to control EV collisions. As the demand for electric vehicles increases globally, the market for automotive aluminum extruded components is likely to grow further as the range of electric vehicles improves with the use of aluminum in their manufacturing.

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Key insights from market research

• In the market for automotive aluminum extrusions in Europe, the 7000 series aluminum material is expected to remain one of the fastest growing segments as it has the highest strength of all aluminum alloys.
• The passenger vehicle segment has dominated the European market due to growing consumer demand for compact vehicles.
• By country, Germany is expected to account for the largest share in Europe with over 25% market share by 2032.

“The use of the electric car is increasing at a rapid pace in both developed and emerging countries. Norway and Iceland, along with other emerging economies, are already leading electric vehicle (EV) sales in Europe and have begun to modify their public transport infrastructure to accommodate EVs. The use of aluminum in electric vehicles can extend their range by almost the same amount as reducing their weight, which is expected to boost the European car market aluminum extruded parts,” says a PersiStence Market Research Analyst.

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Market landscape

The European market for extruded aluminum automotive parts is extremely competitive and highly concentrated. Some of the major players included in the report are Norsk Hydro ASA, Novelis Incorporated, Gestamp Automocion SA, Benteler International, Kobe Steel Ltd., Costellium, Rusal, and Arconic Corporation.

In terms of revenue, the leading companies in the market hold a large share. These companies have a global and regional presence by adhering to government standards and laws. To increase their market share, major manufacturers are also improving their technology.

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Conclusion

The demand for automotive aluminum extrusions has increased significantly over the past few years. All vehicle categories, including passenger cars, light-duty vehicles, and heavy-duty vehicles, are seeing an increase in electric vehicle production.

OEMs are offered custom extruded parts from a number of manufacturers. To strengthen their position in the market, manufacturers are also expanding their product portfolios. A significant percentage of the market is represented by Germany and Spain. Demand for automotive body panels and substructures is expected to remain strong over the next ten years.

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Find more valuable information

Persistence Market Research, a research and advisory firm, has published a new market research report on the European Automotive Aluminum Extruded Parts Market which contains 2017-2021 industry analysis and opportunity assessment for 2022-2032.

The market has been analyzed with the impact of COVID-19, macroeconomic factors, market trends and market background. According to the scope of Persistence Market Research, the market has been analyzed based on product type, material type, vehicle type, extrusion press and country. The report gives qualitative and quantitative information about the various players in the region. It also follows the market from both the supply side and the demand side.

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