Automotive Plain Carbon ERW Tubes Market

The plain carbon electric resistance welding (ERW) tubes are primarily use in the steering linkages, steering column, shock absorber, propeller shaft, tie rod, body frames, rear body frames, and axel tube application. The growth of the global automotive plain carbon ERW tubes market is driven by the rapid growth of the automotive aftermarket and increasing use of plain carbon ERW tubes in various automotive parts. However, the market growth can be hindered due to the increasing raw material prices.

The global automotive plain carbon ERW tubes market is expected to grow at about 7.36% CAGR during the forecast period and reach USD 5,130.9 million by 2025. In 2018, the market was led by Asia-Pacific, with a 41.34% share, followed by Europe and North America with shares of 27.14% and 19.16%, respectively.

The automotive plain carbon ERW tubes market has been segmented based on application, vehicle type, and region. On the basis of application, the frames segment dominated the market with a share of 42.72%, accounting for a value of USD 1,343.6 million in 2018; it is projected to grow at the highest CAGR of 5.77% during the forecast period. On the basis of vehicle type, the passenger car segment dominated the market with a share of 66.49%, accounting for a value of USD 2,091.2 million in 2018; it is projected to grow at the CAGR of 6.69% during the forecast period.