08/06/2023 Auto Parts & Accessories
The market is rising due in large part to advances in fuel economy research and development, stringent pollution regulations, and expanding government regulations for lighter vehicles. In addition, the market is changing due to rapid urbanization, increased vehicle manufacturing, increased demand for automobiles, fuel economy regulations, and improvements in driving dynamics. Automotive alloys are used to build the powertrain, chassis, and external and interior components of commercial and passenger vehicles in order to reduce weight and increase fuel efficiency. The automotive alloy market has been segmented by type, sales channel, vehicle type, and geography. Various types of automotive alloys, including steel, magnesium, aluminum, and others, are available on the market.
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