By 2027, Automotive Chromium Finishing Market To Record CAGR 2.5% Via Steel Segment

06-06-2022

By Ronak Bora

Global Automotive Chromium Finishing Market from steel segment is expected to record 2.5% CAGR through the next few years. This can be owed to the increasing preference for this metal in comparison to others. It has been estimated that an average passenger car that weighs up to 1.4 tons makes use of over 75% of the steel products.

The Automotive chromium finishing market from decorative chrome processes segment is anticipated to hold a major revenue share through 2027. This is in line with the growing requirement to enhance the appearance and shiny polishes on the vehicle parts. Also, the rising adoption of electric cars will add positive impetus to the demand for decorative chrome finishing in automobiles.

Get sample copy of this research report @ https://www.decresearch.com/request-sample/detail/4923

Shifting inclination towards chrome finishing usage in passenger as well as commercial vehicles coupled with the accelerating demand for luxury vehicles has fueled the demand for chromium finishing across the globe. Considering the increasing product demand, automotive chromium finishing market is projected to grow exponentially over the ensuing years.

Demand for automotive chromium finishing tools in passenger cars will gain substantial traction by 2027. This can be attributed to the higher preference for pre-owned vehicles and the surge in the household incomes of consumers. On the other hand, the market value from two-wheelers will reach over 5% of the global share in the same year due to their increasing use and the hike in premium motorcycles sales.

On the other hand, the market value from two-wheelers will reach over 5% of the global share in the same year due to their increasing use and the hike in premium motorcycles sales.

Application of chromium finishing components across the automotive OEM sector will be responsible for considerable a growth rate in the coming years considering the longer lifespan of the automotive parts. Citing this with an example, the piston rings of a sports car operate at close to 300,000 miles and are further subject to change across various vehicle categories. This increases the replacement frequency of the OEM parts apart from cutting down the need for chrome finishing on the existing parts in short intervals.

Constant demand and sales of sports & premium cars across various parts of the world will anchor the automotive chromium finishing market forecast. There is an extensive adoption of chrome finishing in passenger cars and commercial vehicles. The incessant efforts to curb carbon emissions have increased the preference for electric vehicles that are incorporated with lightweight materials.

Automotive chromium finishing market in North America is expected to record an appreciable CAGR of around 2.5% through 2027. Expanding automotive industry in the U.S. coupled with increasing consumer preference for overall luxury cars as well as electric vehicles is fostering the growth of automotive chromium finishing industry in North America. According to reliable sources, luxury cars outperformed the mainstream cars in the US market despite the COVID-19 crisis. Dominated by Mercedes-Benz, Tesla and Toyota models, the luxury segment recorded a significant growth of 44.3% growth over the span of first nine months of 2020 as against the 40% during the same period in the previous years. This is anticipated to impel the demand for automotive chromium in the region.

Get This Report Customized To Your Requirements @ https://www.decresearch.com/roc/4923

Some Point from Table of Contents:

Chapter 6 Automotive Chromium Finishing Market, By End-user

6.1 Global automotive chromium finishing market by end-user insights

6.2 Automotive OEM

6.2.1 Market estimates and forecast, 2017 - 2027

6.2.2 Market estimates and forecast, by region, 2017 - 2027

6.3 Automotive aftermarket

6.3.1 Market estimates and forecast, 2017 - 2027

6.3.2 Market estimates and forecast, by region, 2017 - 2027

Chapter 7 Automotive Chromium Finishing Market, By Vehicle

7.1 Global automotive chromium finishing market vehicle insights

7.2 Passenger car

7.2.1 Market estimates and forecast, 2017 - 2027

7.2.2 Market estimates and forecast, by region, 2017 - 2027

7.3 LCV

7.3.1 Market estimates and forecast, 2017 - 2027

7.3.2 Market estimates and forecast, by region, 2017 - 2027

7.4 HCV

7.4.1 Market estimates and forecast, 2017 - 2027

7.4.2 Market estimates and forecast, by region, 2017 - 2027

7.5 Two-wheelers

7.5.1 Market estimates and forecast, 2017 - 2027

7.5.2 Market estimates and forecast, by region, 2017 - 2027

Browse complete Table of Contents (ToC) of this research report @

https://www.decresearch.com/toc/detail/automotive-chromium-finishing-market

About Author

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Technology Magazine and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport....