Global Automotive Stainless Steel Tube Market Size By Product (Welded Tube, Seamless Tube), By Application (Passenger Cars, Commercial Vehicles), By Geographic Scope and Forecast
Report ID: 28869|No. of Pages: 202
Global Automotive Stainless Steel Tube Market Size By Product (Welded Tube, Seamless Tube), By Application (Passenger Cars, Commercial Vehicles), By Geographic Scope and Forecast
Automotive Stainless Steel Tube Market Size And Forecast
Automotive Stainless Steel Tube Market size was valued at USD 4.18 Billion in 2023 and is projected to reach USD 5.43 Billion by 2031, growing at a CAGR of 3.65% from 2024 to 2031.
- Automotive stainless steel tubes are critical components found in a variety of vehicle applications including exhaust systems, fuel lines, and structural supports. These tubes made of high-grade stainless steel alloys are extremely resistant to corrosion, high temperatures, and mechanical stress.
- Automotive stainless steel tubes are high-strength, corrosion-resistant tubes used in a variety of vehicle components to improve durability, safety, and performance. These tubes made of stainless steel alloys, are rust, oxidation, and extreme temperature resistant making them perfect for usage in automotive applications.
- They are expected to play an important part in the future of automotive engineering driven by advances in vehicle design and the rising need for durability and efficiency. As the automobile industry switches to electric and hybrid vehicles, stainless steel tubes play an increasingly important role in controlling heat and pressure needs.
>>> Download Sample Report @- https://www.verifiedmarketresearch.com/download-sample/?rid=28869
Global Automotive Stainless Steel Tube Market Dynamics
The key market dynamics that are shaping the global Automotive Stainless Steel Tube Market include:
Key Market Drivers:
- Increased Demand for Lightweight Materials: As automakers strive to improve fuel efficiency and lower emissions, there is a growing desire for lightweight materials. The trend toward vehicle light weighting is driving increased demand for stainless steel tubes in automotive applications, particularly exhaust systems, fuel lines, and structural components.
- Stringent Emission and Safety Regulations: Governments around the world are enacting stronger regulations to reduce car emissions and improve safety standards. Stainless steel’s corrosion resistance and ability to endure high temperatures make it ideal for satisfying these strict specifications.
- Manufacturing Technological Advancements: Advances in stainless steel tube manufacturing technology such as improved welding processes and increased tube forming precision are driving market expansion. These innovations not only enhance the quality and performance of stainless steel tubes but also lower production costs.
Key Challenges:
- High Costs: Stainless steel tubes are more expensive than carbon steel tubes due to higher raw material costs and more sophisticated manufacturing methods. The high cost of stainless steel can make it a less appealing option for enterprises aiming to reduce production costs. The cost comprises not just the material itself but also the energy and technology required to manufacture it.
- Corrosion Resistance Limitations: While stainless steel is known for its corrosion resistance, it can be degraded under certain conditions. Automotive applications which frequently include exposure to road salts and other pollutants can test the endurance of stainless steel tubes necessitating additional preventive measures or treatments to assure longevity.
- Fabrication and Processing Difficulties: Stainless steel is more difficult to produce than other metals due to its hardness and toughness. This increases the complexity and cost of processes like as welding, machining, and bending. Stainless steel requires specialized equipment and procedures which can increase production time and costs.
Key Trends:
- Growing Demand for Lightweight Materials: The automobile sector is increasingly focused on lowering vehicle weight to improve fuel efficiency and comply with strict pollution requirements. This tendency is especially noticeable in high-performance and luxury vehicles where the balance of weight and strength is critical to both performance and safety.
- Advancements in Manufacturing Technology: The Automotive Stainless Steel Tube Market is being driven by technological innovations. These innovations improve the structural integrity and visual appeal of the tubes while also lowering production costs. This tendency is leading to the increased use of stainless steel tubes in a variety of automotive applications including exhaust systems and structural components.
- Corrosion Resistance: As vehicles are subjected to adverse environmental conditions such as road salt, moisture, and pollution, corrosion resistance has become an important consideration in material selection. Stainless steel tubes are favored because they are highly corrosion resistant, extending the life of automobile components.
What's inside a VMR
industry report?
Our reports include actionable data and forward-looking analysis that help you craft pitches, create business plans, build presentations and write proposals.
>>> Ask For Discount @ – https://www.verifiedmarketresearch.com/ask-for-discount/?rid=28869
Global Automotive Stainless Steel Tube Market Regional Analysis
Here is a more detailed regional analysis of the global Automotive Stainless Steel Tube Market:
Asia Pacific:
- The Asia Pacific region dominates the Automotive Stainless Steel Tube Market with China and Japan at the forefront of production and consumption. This supremacy is partly due to the region’s strong automobile manufacturing sector and the growing demand for high-performance, corrosion-resistant materials in vehicle manufacture.
Growing vehicle production is a significant driver of the Asia Pacific vehicle stainless steel tube market. - According to the International Organization of Motor Vehicle Manufacturers (OICA), China will build 26.08 million vehicles in 2021, accounting for 32.5% of global output. Japan and South Korea followed, with 7.85 million and 3.46 million units, respectively. This large production volume directly translates into a high demand for automobile components such as stainless steel tubes.
- Furthermore, the Indian government’s Automotive Mission Plan 2016-26 aims to establish India as a worldwide automotive manufacturing hub with the industry projected to reach $300 billion by 2026. This upward trend in the region’s automotive sector continues to feed the demand for high-quality automotive components such as stainless steel tubes.
North America:
- North America’s automotive stainless steel tube industry is expanding rapidly with the United States leading the way. This increased rise is primarily driven by rising demand for fuel-efficient automobiles and stricter pollution restrictions. The demand for increased fuel efficiency and lower emissions is a major driver of the North American Automotive Stainless Steel Tube Market.
- According to the United States Environmental Protection Agency (EPA), new 2021 model-year automobiles had an average fuel economy of 25.7 miles per gallon, up 0.5 mpg from 2020. The National Highway Traffic Safety Administration (NHTSA) and the EPA have established Corporate Average Fuel Economy (CAFE) regulations that require automakers to attain a fleet-wide average of 49 mpg by 2026.
- According to the National Highway Traffic Safety Administration (NHTSA), motor vehicle traffic crashes killed 36,096 people in 2019. This has resulted in more severe safety standards encouraging automakers to adopt high-strength materials such as stainless steel in essential components. Furthermore, the expanding automotive aftermarket is driving up demand for stainless steel tubes. According to the Auto Care Association, the US automobile aftermarket is expected to reach USD 448.9 Billion by 2023.
Global Automotive Stainless Steel Tube Market: Segmentation Analysis
The Global Automotive Stainless Steel Tube Market is segmented on the basis of Product, Application, and Geography.
Automotive Stainless Steel Tube Market, By Product
- Welded Tube
- Seamless Tube
Based on the Product, the Global Automotive Stainless Steel Tube Market is bifurcated into Welded Tube and Seamless Tube. In the global Automotive Stainless Steel Tube Market, seamless tubes are dominant due to their superior strength, durability, and reliability compared to welded tubes. Seamless tubes offer enhanced resistance to high pressure and temperature fluctuations making them ideal for critical automotive applications such as fuel lines, exhaust systems, and hydraulic systems. Their ability to withstand extreme conditions without risk of weld failure makes them preferable for high-performance and safety-critical components
Automotive Stainless Steel Tube Market, By Application
- Passenger Cars
- Commercial Vehicles
Based on the Application, the Global Automotive Stainless Steel Tube Market is bifurcated into Passenger Cars and Commercial Vehicles. In the global Automotive Stainless Steel Tube Market, passenger cars are the dominant segment. This dominance is primarily due to the high production volume of passenger vehicles compared to commercial vehicles. Passenger cars require stainless steel tubes for various components including exhaust systems, fuel lines, and structural elements owing to their durability, corrosion resistance, and aesthetic appeal.
Key Players
The “Global Automotive Stainless Steel Tube Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are Nippon Steel Corporation, Posco, JFE Steel Corporation, Thyssenkrupp AG, AK Steel Corporation, ArcelorMittal, Salzgitter AG, Centravis, Sandvik AB, Outokumpu, The Fischer Group, Tubacex S.A., CSM Tube spa, Maxim Tubes Company Pvt. Ltd.
Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.
Global Automotive Stainless Steel Tube Market Key Developments
- In May 2022, Jindal Stainless became an Alstom supplier working on the development of technologically advanced trainsets for the Regional Rapid Transit System. Alstom will receive approximately 2 kilotons of 301LN stainless steel grade with a 2J finish from Jindal Stainless for the development of 210 trainsets under this project.
- In July 2022, Outokumpu agreed to sell the majority of its Long Products business to Marcegaglia Steel, a multinational industrial organization specializing in steel processing.
Report Scope
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2021-2031 |
| Base Year | 2023 |
| Forecast Period | 2024-2031 |
| Historical Period | 2020-2022 |
| Unit | Value in USD Billion |
| KEY COMPANIES PROFILED | Nippon Steel Corporation, Posco, JFE Steel Corporation, Thyssenkrupp AG, AK Steel Corporation, ArcelorMittal, Salzgitter AG, Centravis, Sandvik AB. |
| SEGMENTS COVERED |
|
| CUSTOMIZATION SCOPE | Free report customization (equivalent to up to 4 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Research Methodology of Verified Market Research:
To know more about the Research Methodology and other aspects of the research study, kindly get in touch with our sales team at Verified Market Research.
Reasons to Purchase this Report:
• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
• Provision of market value (USD Billion) data for each segment and sub-segment
• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions and acquisitions in the past five years of companies profiled
• Extensive company profiles comprising of company overview, company insights, product benchmarking and SWOT analysis for the major market players
• The current as well as the future market outlook of the industry with respect to recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
• Includes an in-depth analysis of the market of various perspectives through Porter’s five forces analysis
• Provides insight into the market through Value Chain
• Market dynamics scenario, along with growth opportunities of the market in the years to come
• 6-month post-sales analyst support
Customization of the Report
• In case of any Queries or Customization Requirements please connect with our sales team, who will ensure that your requirements are met.
Frequently Asked Questions
1 INTRODUCTION OF THE GLOBAL AUTOMOTIVE STAINLESS STEEL TUBE MARKET
1.1 Overview of the Market
1.2 Scope of Report
1.3 Assumptions
2 EXECUTIVE SUMMARY
3 RESEARCH METHODOLOGY OF VERIFIED MARKET RESEARCH
3.1 Data Mining
3.2 Validation
3.3 Primary Interviews
3.4 List of Data Sources
4 GLOBAL AUTOMOTIVE STAINLESS STEEL TUBE MARKET OUTLOOK
4.1 Overview
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.3 Porters Five Force Model
5 GLOBAL AUTOMOTIVE STAINLESS STEEL TUBE MARKET, BY PRODUCT
5.1 Welded Tube
5.2 Seamless Tube
6 GLOBAL AUTOMOTIVE STAINLESS STEEL TUBE MARKET, BY APPLICATION
6.1 Passenger Cars
6.2 Commercial Vehicles
7 GLOBAL AUTOMOTIVE STAINLESS STEEL TUBE MARKET, BY GEOGRAPHY
7.1 Overview
7.2 North America
7.2.1 U.S.
7.2.2 Canada
7.2.3 Mexico
7.3 Europe
7.3.1 Germany
7.3.2 U.K.
7.3.3 France
7.3.4 Rest of Europe
7.4 Asia Pacific
7.4.1 China
7.4.2 Japan
7.4.3 India
7.4.4 Rest of Asia Pacific
7.5 Rest of the World
7.5.1 Middle East and Africa
7.5.2 South America
8 GLOBAL AUTOMOTIVE STAINLESS STEEL TUBE MARKET COMPETITIVE LANDSCAPE
8.1 Overview
8.2 Company Market Ranking
8.3 Key Development Strategies
9 COMPANY PROFILES
9.1 Sandvik Group
9.1.1 Overview
9.1.2 Financial Performance
9.1.3 Product Outlook
9.1.4 Key Developments
9.2 Nippon Steel & Sumitomo Metal Corporation
9.2.1 Overview
9.2.2 Financial Performance
9.2.3 Product Outlook
9.2.4 Key Developments
9.3 ThyssenKrupp
9.3.1 Overview
9.3.2 Financial Performance
9.3.3 Product Outlook
9.3.4 Key Developments
9.4 ArcelorMittal
9.4.1 Overview
9.4.2 Financial Performance
9.4.3 Product Outlook
9.4.4 Key Developments
9.5 Tubacex
9.5.1 Overview
9.5.2 Financial Performance
9.5.3 Product Outlook
9.5.4 Key Developments
9.6 Handytube Corporation
9.6.1 Overview
9.6.2 Financial Performance
9.6.3 Product Outlook
9.6.4 Key Developments
9.7 Plymouth Tube Company
9.7.1 Overview
9.7.2 Financial Performance
9.7.3 Product Outlook
9.7.4 Key Developments
9.8 Fischer Group
9.8.1 Overview
9.8.2 Financial Performance
9.8.3 Product Outlook
9.8.4 Key Developments
9.9 JFE Steel Corporation
9.9.1 Overview
9.9.2 Financial Performance
9.9.3 Product Outlook
9.9.4 Key Developments
9.10 Bri-Steel Manufacturing
9.10.1 Overview
9.10.2 Financial Performance
9.10.3 Product Outlook
9.10.4 Key Developments
10 APPENDIX
10.1 Related Research
Report Research Methodology
Verified Market Research uses the latest researching tools to offer accurate data insights. Our experts deliver the best research reports that have revenue generating recommendations. Analysts carry out extensive research using both top-down and bottom up methods. This helps in exploring the market from different dimensions.
This additionally supports the market researchers in segmenting different segments of the market for analysing them individually.
We appoint data triangulation strategies to explore different areas of the market. This way, we ensure that all our clients get reliable insights associated with the market. Different elements of research methodology appointed by our experts include:
Exploratory data mining
Market is filled with data. All the data is collected in raw format that undergoes a strict filtering system to ensure that only the required data is left behind. The leftover data is properly validated and its authenticity (of source) is checked before using it further. We also collect and mix the data from our previous market research reports.
All the previous reports are stored in our large in-house data repository. Also, the experts gather reliable information from the paid databases.
For understanding the entire market landscape, we need to get details about the past and ongoing trends also. To achieve this, we collect data from different members of the market (distributors and suppliers) along with government websites.
Last piece of the ‘market research’ puzzle is done by going through the data collected from questionnaires, journals and surveys. VMR analysts also give emphasis to different industry dynamics such as market drivers, restraints and monetary trends. As a result, the final set of collected data is a combination of different forms of raw statistics. All of this data is carved into usable information by putting it through authentication procedures and by using best in-class cross-validation techniques.
Data Collection Matrix
| Perspective | Primary Research | Secondary Research |
|---|---|---|
| Supplier side |
|
|
| Demand side |
|
|
Econometrics and data visualization model
Our analysts offer market evaluations and forecasts using the industry-first simulation models. They utilize the BI-enabled dashboard to deliver real-time market statistics. With the help of embedded analytics, the clients can get details associated with brand analysis. They can also use the online reporting software to understand the different key performance indicators.
All the research models are customized to the prerequisites shared by the global clients.
The collected data includes market dynamics, technology landscape, application development and pricing trends. All of this is fed to the research model which then churns out the relevant data for market study.
Our market research experts offer both short-term (econometric models) and long-term analysis (technology market model) of the market in the same report. This way, the clients can achieve all their goals along with jumping on the emerging opportunities. Technological advancements, new product launches and money flow of the market is compared in different cases to showcase their impacts over the forecasted period.
Analysts use correlation, regression and time series analysis to deliver reliable business insights. Our experienced team of professionals diffuse the technology landscape, regulatory frameworks, economic outlook and business principles to share the details of external factors on the market under investigation.
Different demographics are analyzed individually to give appropriate details about the market. After this, all the region-wise data is joined together to serve the clients with glo-cal perspective. We ensure that all the data is accurate and all the actionable recommendations can be achieved in record time. We work with our clients in every step of the work, from exploring the market to implementing business plans. We largely focus on the following parameters for forecasting about the market under lens:
- Market drivers and restraints, along with their current and expected impact
- Raw material scenario and supply v/s price trends
- Regulatory scenario and expected developments
- Current capacity and expected capacity additions up to 2027
We assign different weights to the above parameters. This way, we are empowered to quantify their impact on the market’s momentum. Further, it helps us in delivering the evidence related to market growth rates.
Primary validation
The last step of the report making revolves around forecasting of the market. Exhaustive interviews of the industry experts and decision makers of the esteemed organizations are taken to validate the findings of our experts.
The assumptions that are made to obtain the statistics and data elements are cross-checked by interviewing managers over F2F discussions as well as over phone calls.
Different members of the market’s value chain such as suppliers, distributors, vendors and end consumers are also approached to deliver an unbiased market picture. All the interviews are conducted across the globe. There is no language barrier due to our experienced and multi-lingual team of professionals. Interviews have the capability to offer critical insights about the market. Current business scenarios and future market expectations escalate the quality of our five-star rated market research reports. Our highly trained team use the primary research with Key Industry Participants (KIPs) for validating the market forecasts:
- Established market players
- Raw data suppliers
- Network participants such as distributors
- End consumers
The aims of doing primary research are:
- Verifying the collected data in terms of accuracy and reliability.
- To understand the ongoing market trends and to foresee the future market growth patterns.
Industry Analysis Matrix
| Qualitative analysis | Quantitative analysis |
|---|---|
|
|
