Opportunities for nickel in the global automotive market is expected to reach $13.4 billion by 2023
Added: (Thu Dec 06 2018)
Pressbox (Press Release) -
According to a new market report published by Lucintel, the future of nickel in the global automotive market looks promising with opportunities for passenger cars and commercial and electric vehicles. Nickel in the global automotive market is expected to reach an estimated $13.4 billion by 2023 with a CAGR of 24.5% from 2018 to 2023. The major growth drivers for this market are increasing penetration of nickel in engines, and the growth of electric vehicle production.
In this market, nickel is used in various automotive applications, such as exhaust systems, turbocharger wheels, crankshafts, engine EGR valves, and batteries. On the basis of its comprehensive research, Lucintel forecasts that nickel for batteries is expected to become the largest application and witness the highest growth over the forecast period due to the increasing demand for nickel cathode batteries for electric vehicles.
Within this market, electric vehicles is expected to emerge as the largest segment and witness the highest growth over the forecast period due to increased electric vehicle production utilizing nickel content in nickel cobalt aluminum oxide (NCA) and nickel manganese cobalt oxide (NMC) batteries.
Asia Pacific is expected to remain the largest region and witness highest growth over the forecast period due to the growing electric vehicle production and increasing utilization of nickel in high-performance vehicle.
Emerging trends, which have a direct impact on the dynamics of the industry, include development of nickel alloy foam and increased nickel content in electric vehicle batteries. Vale, Nornickel, BHP Billiton, Jinchuan Group, Eramet and Sheritt are the major nickel suppliers in the global automotive market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities for nickel in the global automotive market by application, vehicle type, material type and region. Lucintel has compiled a comprehensive research report entitled Growth Opportunities for Nickel in the Global Automotive Market 2018-2023: Trends, Forecast, and Opportunity Analysis. The Lucintel report serves as a catalyst for growth strategy, as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for nickel in the global automotive market by application, vehicle type, material type and region as follows:
By Application ($ Million and kiloton from 2012 to 2023):
Exhaust System
Engine
Batteries
Others
By Material Form ($ Million and kiloton from 2012 to 2023):
Steel Alloy
Nickel Alloy
Nickel Cathode
Cast Iron Alloy
By Vehicle Type ($ Million and kiloton from 2012 to 2023):
Passenger Cars
Light Commercial Vehicles
Heavy Commercial Vehicles
Electric Vehicles
By Region ($ Million and kiloton from 2012 to 2023):
North America
o US
o Canada
o Mexico
Europe
o Germany
o Russia
o France
o United Kingdom
o Italy
o Turkey
Asia Pacific
o China
o Japan
o India
o South Korea
o Indonesia
The Rest of the World
o Brazil
This 225-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or email us at helpdesk@lucintel.com. Lucintel offerings include Mass Transportation, Transportation Market Report, Opportunity Screening and Analysis, Capital Investment Feasibility and SWOT Analysis.
About Lucintel
Lucintel, the premier global management consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, growth consulting, M&A, and due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.
This report answers the following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for nickel in the global automotive market by application (exhaust systems, engines, and batteries), by vehicle type (passenger cars, light commercial vehicles, heavy commercial vehicles, and electric vehicles), by alloy type (steel alloy, nickel alloy, nickel cathode, and cast iron alloy) and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?