The global automotive
stainless steel tube market is projected to reach USD 4.72 million by 2024,
according to a new report by Grand View Research, Inc. Growing automotive
industry is projected to be the biggest driver of this market over the forecast
period.
The market is segmented on the basis of product
into welded and seamless. Advantages such as high strength, resistance to
shocks due to collisions and high energy absorption capacity have increased the
popularity of stainless steel tube in automotive applications.
Welded stainless steel tube was widely used in
the automotive industry in 2015. These are readily available in the market and
are less expensive than the seamless tube, making them popular among automobile
manufacturers. Asia Pacific is projected to be the fastest-growing region over
the forecast period.
In the automotive sector, where steel tubes are
exposed to extreme temperatures and pressures, seamless products play an
important role courtesy their high corrosion and heat resistant properties.
These find applications in important automobile components such as fuel supply
systems and gearboxes.
View summary of this report @ http://www.grandviewresearch.com/industry-analysis/automotive-stainless-steel-tube-market
Further key findings from the report suggest
·
Welded stainless steel tube is projected to
witness an increase in demand due to their low price and high reliability and
are expected to grow at a CAGR of 3.6% from 2016 to 2024
·
The market was dominated by Asia Pacific in 2015
and is projected to witness the highest CAGR of 4.4% from 2016 to 2024 owing to
presence of major automobile manufacturers such as Honda, Hyundai, Tata Motors,
and Toyota Motors in the region
·
Europe accounted for a revenue share of over 20%
in 2015 and is expected to witness considerable growth on account of growing
vehicle demand in Germany, Italy, and UK
Read our blog on automotive stainless steel tube market: http://www.grandviewresearch.com/blog/automotive-stainless-steel-tubes-market-size-share
Grand View Research has segmented
the automotive stainless steel tube market on the basis of product and region:
Product Outlook (Volume, Tons;
Revenue, USD Thousand, 2013 - 2024)
- Welded Automotive Stainless Steel Tube
- Seamless Automotive Stainless Steel Tube
Regional Outlook (Volume, Tons;
Revenue, USD Thousand, 2013 - 2024)
- North America
- U.S.
- Europe
- Germany
- UK
- Asia Pacific
- China
- Japan
- Central & South America
- Brazil
- MEA
About Grand View
Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, the
company offers market intelligence studies ensuring relevant and fact-based
research across a range of industries including technology, chemicals,
materials, healthcare and energy.
For More Information Visit - http://www.grandviewresearch.com
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