Automotive Plain Carbon ERW Tubes Market Research Report Information by Application (Frames, Suspension, Exhaust and others), Vehicle Type (Passenger Car and Commercial Vehicle) and Region - Forecast till 2032

Automotive Plain Carbon ERW Tubes Market Overview

The Automotive Plain Carbon ERW Tubes Market is projected to grow from USD 5.4 Billion in 2021 to USD 8.1 Billion by 2032, exhibiting a compound annual growth rate (CAGR) 4.2% during the forecast period (2023 - 2032).

The Global Automotive Plain Carbon ERW Tubes Market is expected to witness rapid growth during the forecast period. Asia-Pacific is witnessing one of the key markets for automotive plain carbon ERW tubes. The region is the largest market due to the presence of developing countries, such as China, India, and Japan. The growth of the automotive component manufacturing industry in Asia-Pacific is driven by the booming automobile manufacturing industry, primarily in countries, such as India, China, and Malaysia. The global automotive component manufacturers have, thus, established their production plants and distribution facilities in Asia-Pacific.

In 2018, Europe held the second-largest market share in the global automotive plain carbon ERW tubes market. the growing investment in research and development by regional market players, an increase in the sales of vehicles, and a large number of automotive component suppliers in this region. The European Automobile Manufacturers’ Association (ACEA), in 2017, stated that automobiles and related components exported by the region accounted for USD 142,725.1 Million. Major automotive plain carbon ERW tubes manufacturers are expanding their presence through increasing distribution channel and stockiest in this region, which further grows the demand for plain carbon ERW tubes, parts, and components from premium German OEMs, such as Audi, Mercedes, and BMW, is pushing global market players to enhance and develop their operational network in Europe.

Segmentation

The Global Automotive Plain Carbon ERW Tubes Market is segmented based on Application and Vehicle Type. By application, the Global Automotive Plain Carbon ERW Tubes Market is segmented into Frames, Suspension, Exhaust, and others. The frame segment held the largest market share in 2018. The tubes in automotive frame assemblies must be extremely rigid and strong to meet the payload capacity and withstand shocks, twists, stress, and vibrations, during vehicles driving on uneven road. Automotive component manufacturers are primarily developing vehicle chassis by using carbon-containing ERW tubes to meet the demand for fuel and payload efficiencies. Additionally, the frames are manufactured with the support of plain carbon ERW tubes. It is widely adopted for manufacturing seat frames, body frames, bumper frames, rear body frames, and headrest frames.

By Vehicle Type, the global automotive plain carbon ERW tubes market is segmented as a passenger car and commercial vehicle. Passenger cars widely use automotive plain carbon ERW tubes across steering linkages, steering column, shock absorber, propeller shaft, tie rod, and axel tube. A rise in demand for passenger vehicles due to the increased population and rising purchasing power are expected to increase the share of the passenger car segment. The need for passenger safety from individual users and the government norms are expected to drive the growth of this segment during the forecast period.

Key Competitors

The Key Players of the Global Automotive Plain Carbon ERW Tubes Market are JFE Steel Corporation (Japan), AK Steel Corporation (US), Innoventive Industries Limited (India), Hyundai Steel (South Korea), Nippon Steel Corporation (Japan), Tata Precision Tubes (India), Jindal Pipes Ltd (India), ArcelorMittal (Luxembourg), Tubular Steel Inc. (US), and Rexal Tubes (India).

Regional Analysis

By region, the Global Automotive Plain Carbon ERW Tubes Market is segmented into Europe, North America, Asia-Pacific, and the rest of the world.

Global Automotive Plain Carbon ERW Tubes Market, by Region, 2018  

Source: MRFR Analysis

North America is expected to witness an excellent growth in the automotive plain carbon ERW tubes market. The key factors that drive the growth of the market in this region are the rising demand for ERW tubes in different automotive applications and an increase in the production of vehicles. This region is characterized by the presence of leading plain carbon ERW tubes manufacturers and tier-1 motor vehicle component suppliers, who also sell their products to aftermarket buyers, such as chassis and frames remanufacturing, rebuilding, and recycling firms. The presence of major plain carbon ERW tubes manufacturers such as AK Tube Corporation, North American Steel & Pipe, and Innoventive Industries Limited is expected to further grow the demand for plain carbon ERW tubes in this region during the forecast period.

The US is expected to witness tremendous growth in the upcoming years, owing to established manufacturing facilities, an increase in new and used car sales, rising per capita disposable income, cost-effective automotive components, ample availability of low-cost labor and raw materials, and increase in exports from the country. Furthermore, significant strategic steps such as collaborations and joint ventures undertaken by the local and international automotive parts and component manufacturers are expected to upsurge the growth of the market. Thus, China will continue to be the most significant market contributor in the region during the forecast period.

Synopsis

The Global Automotive Plain Carbon ERW Tubes Market has been segmented on the Basis Of Application, Vehicle Type, and Region. By application, the global automotive plain carbon ERW tubes market is segmented into frames, suspension, exhaust and others. The frames segment is expected to dominate the market. The need to meet the demand for cost-effective and efficient materials and efficient weldability is expected to enhance the demand for plain carbon ERW tubes for frames.

Market Segmentation

• By Application – Frames, Suspension, Exhaust, and Others

• By Vehicle Type – Passenger Car and Commercial Vehicle