Automotive Sheet Metal Components Market — Rising Production of Vehicles Demands Growth
The global market for automotive sheet metal components has a largely fragmented competitive landscape featuring a large number of small and large players and the leading four players collectively accounting for a nearly 40% of the overall market in 2016, observes Transparency Market Research (TMR) in a recent report. Although the market features low entry barriers for new companies, setting up of manufacturing units for automotive sheet metal components require huge capital and resource, thus limiting the scope of growth of new vendors. In terms of material, steel contributed nearly 60% to the overall revenue accumulated by the global automotive sheet metal components in 2016 and is expected to remain the most preferred metal over the forecast period as well. In terms of geography, the global automotive sheet metal components market is presently led by the Asia Pacific market. China, one of the largest manufacturer of sheet metal components globally and one of the lead...