Automotive Pillar Market Is Expected To Grow At A CAGR Of 7.0% During The Forecast Period 2019 to 2027

The latest market report published by Credence Research, Inc. “Automotive Pillar Market By Pillars Type (Pillar A, Pillar B, Pillar C, Pillar D), By Vehicle Type (Passenger Cars, Commercial Vehicles), By Material Type (Aluminum, Steel, Plastic Composites), By Sales Channel (OEM, Aftermarket)- Growth, Future Prospects, and Competitive Analysis, 2019 – 2027” the Automotive Pillar market was valued at US$ 4.49 Bn in 2018 and expected to grow at a CAGR of 7.0% during the forecast period from 2019 to 2027.

Market Insights

“Increasing penetration of automated vehicles globally will upgrade the market growth during the forecast period”

Amidst in technological transformation will change the way of living and the transportation sector. Developing nations like China, India, and Japan are increasing their focus towards advanced manufacturing competences, owing to huge financial investments, research and development for new automation technologies, and rising up-gradation in the automotive segment. In addition, growing consumer needs for electric, hybrid, and driverless cars are likely to transform the manufacturing industry to the next technology frontier. Moreover, a shift in the rate of technology advancement and convergence, global supply chain dynamics, and changing customer behavior will increase the use of passenger vehicle, thereby driving the demand for automotive pillar on a global scale.

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“Rising stringent government regulations towards passenger safety will ramble the automotive pillar market”

Emerging economies like India, China, Japan, and Malaysia habitually looked upon as a favorable destination for low-cost manufacturing of automobiles. In addition, the benefits from the automotive industry and regulatory pressure expected to have a positive effect on the automotive supply chain and vehicle portfolios. Major regulatory interventions, which include adoption for BS-VI engine, change in tax structure; government mandate towards safety standards with regulatory norms, and corporate average fuel efficiency norms projected to expand the market for automotive pillar on a global scale. Moreover, the integration of technological research and usage of Information Technology (IT) in automobile manufacturing processes and products will expand the market of the automotive industry. The aforementioned factors are likely to boost up the demand for automotive pillar across the globe.

Industrial Developments

• In January 2020, BENTELER International announced its collaboration with Sony an entertainment giant in CES 2020 in Las Vegas. The collaboration focused towards up-gradation of advanced technologies for reliability, comfort, and safety of the mobility system.
• In July 2019, Hyundai Motor Company has recently announced its all-new model, which includes a C-pillar area with partially visible wraparound tail lamp at Frankfurt Motor Show 2019.

Key Market Movements:

• Globally, the automotive pillar market is rising at a CAGR of 7.05% for the estimated period from 2019 to 2027.
• The Asia Pacific will lead the global market for automotive pillar, owing to stringent government regulations pertaining to the safety of passenger cars, altering the needs of consumers, and rising demand for electric and hybrid vehicles. Furthermore, increasing inclination of customers towards pollution-free vehicles and the presence of major car manufacturers and in the region will spur the market demand in the region.
• North America and Europe holds the majority of the top automobile manufacturers and likely to supplement the revenue growth, owing to the launch of semi-autonomous car models, laws pertaining to passenger and driver safety, integration advanced products in automobiles, and rising number of SME business among players in the automotive industry.
• An increasing number of government initiatives, upgradation in technological development, and increasing technological investments in automotive sector development in the emerging nations will drive the overall demand.

List of Companies Covered:

• Kirchhoff Automotive Holding Gmbh & Co Kg
• Aisin Seiki Co Ltd
• Benteler International AG
• Unipres Corp
• Toyotomi Kiko Co Ltd
• Martinrea International Inc
• Magna International Inc.
• Gestamp Automocion SA
• GEDIA Automotive Group
• Shiloh Industries, Inc.

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