The transportation industry, one of the leading contributors of polluting agents to the environment due to the mounting numbers of vehicles across the globe, has been under the radar of environmentalists for a long while. To change the situation, the strict regulations imposed on vehicle-makers to bring to the market vehicles with higher rate of fuel efficiency are force-feeding the vehicle of development in the automotive industry. On the way to being more fuel efficient, engine downsizing and lighter vehicle parts are some of the most notable changes to have been observed in vehicles of late.

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Steel sheet components are the most widely used material in the automotive sector. 60% of the total weight of a vehicles is made of steel components. Steel allows good corrosion resistance while maintaining weldability and formability. There are numerous grades of steel available in the market to best suit the specific requirements as per application.

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Stringent emission norms and automobile standards has been emphasizing automakers to develop lightweight vehicles. Therefore, downsizing of engine in order to ensure fuel efficient and environment-friendly attribute in vehicles has been propelling the demand for high strength steel, which are more durable and lighter than standard steel. The usage of steel as an automotive sheet metal component is expected to remain strong over the report’s forecast period as well.

Asia Pacific contributed the dominant share of around 33% to the revenue of the global automotive sheet metal components market in 2016. China is the leading automotive sheet metal components market in Asia Pacific. The country has huge resource and technological capabilities in the automotive sector. Moreover, increasing demand for passenger vehicles in China and India is propelling the growth of automotive sheet metal components market in the Asia Pacific region.