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.
Access Research Report of Automotive Stainless Steel Tube Market@ 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
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
·
Europe
·
Asia
Pacific
·
Central
& South America
·
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, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
