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 decline in 2020 due to global economic recession led by COVID-19. However, market will witness recovery in the year 2021 and it is expected to reach an estimated $27.2 billion by 2025 with a CAGR of 32% to 33% from 2020 to 2025. The major growth drivers for this market are increasing penetration of nickel in engines, and the growth of electric vehicle production.
Browse 141 market data tables and 170 figures spread through 225 pages and in-depth TOC on “Nickel in the Global Automotive Market"
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In this market, different types of nickel in automotive such as exhaust systems, engines, and batteries are used as application. 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 for nickel in the global automotive market by industry, include development of nickel alloy foam and increased nickel content in electric vehicle batteries. Vale, Nornickel, BHP Billiton, Jinchuan Group, Eramet and Sheritt and others are among the major nickel in automotive manufacturers.
Lucintel, a leading global strategic consulting and market research firm, has analyzed the nickel in the global automotive market by application, vehicle type, material type, and region and has come up with a comprehensive research report entitled “Growth Opportunities for Nickel in the Global Automotive Market 2020-2025: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy as it provides a comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the nickel in the global automotive market by application, vehicle type, material type, and region as follows:
By Application ($ Million and kiloton from 2014 to 2025):
Exhaust System
Engine
Batteries
Others
By Material Form ($ Million and kiloton from 2014 to 2025):
Steel Alloy
Nickel Alloy
Nickel Cathode
Cast Iron Alloy
By Vehicle Type ($ Million and kiloton from 2014 to 2025):
Passenger Cars
Light Commercial Vehicles
Heavy Commercial Vehicles
Electric Vehicles
By Region [$M shipment analysis for 2014 – 2025]:
North America
United States
Canada
Mexico
Europe
Germany
France
Russia
United Kingdom
Italy
Turkey
Asia Pacific
China
India
Japan
South Korea
Indonesia
The Rest of the World
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 click on this link https://www.lucintel.com/nickel-in-the-global-automotive-market.aspx or helpdesk@lucintel.com.
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.