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In-depth Analysis of Automotive Plain Carbon ERW Tubes Market Industry Landscape
The automotive industry's expansion greatly relies on the availability of components and a robust aftermarket service infrastructure, ensuring a seamless vehicle operation throughout its lifespan. Notably, Germany and China stand as pivotal nations supplying automotive components in the aftermarket.
In 2017, Germany, as per the data from Germany’s Federal Statistical Office (Destatis), recorded the highest export figure of cars and car components worth USD 207.92 billion, marking the peak for any industrial sector in the country. Meanwhile, China's automotive component production and sales are propelled by cost-effective parts and components, escalating sales of new and used cars, an uptick in disposable income, competitive retail sales, an increase in automotive service centers, and the abundant availability of cost-efficient labor and raw materials. These factors collectively stimulate growth in the automotive aftermarket. This surge in the aftermarket for automotive components leads to ample component availability and an upswing in aftermarket services, consequently bolstering vehicle sales and driving the demand for components, spare parts, and service essentials vital for vehicle maintenance. This, in turn, is expected to significantly bolster the demand and sales of automotive plain carbon ERW tubes, widely utilized in aftermarket applications, during the forecast period.
The automotive aftermarket's growth is forecasted to exhibit an upward trajectory worldwide in the foreseeable future. Consequently, the impact of this rapid growth in the automotive aftermarket on the global automotive plain carbon ERW tubes market is expected to transition from a moderate effect to a high influence during the forecast period.
Covered Aspects:| Report Attribute/Metric | Details |
|---|---|
| Segment Outlook | Application and Vehicle Type |
Automotive Plain Carbon ERW Tubes Market Highlights:
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