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According to a new market report published by Lucintel, the future of nickel in the global automotive market looks promising with opportunities for passenger cars and commercial and electric vehicles. Nickel in the global automotive market is expected to reach an estimated $13.4 billion by 2023 with a CAGR of 24.5% from 2018 to 2023. The major growth drivers for this market are increasing penetration of nickel in engines, and the growth of electric vehicle production.
In this market, nickel is used in various automotive applications Wholesale Jerseys From China , such as exhaust systems, turbocharger wheels, crankshafts, engine EGR valves, and batteries. On the basis of its comprehensive research, Lucintel forecasts that nickel for batteries is expected to become the largest application and witness the highest growth over the forecast period due to the increasing demand for nickel cathode batteries for electric vehicles.
Within this market Wholesale Jerseys China , electric vehicles is expected to emerge as the largest segment and witness the highest growth over the forecast period due to increased electric vehicle production utilizing nickel content in nickel cobalt aluminum oxide (NCA) and nickel manganese cobalt oxide (NMC) batteries.
Asia Pacific is expected to remain the largest region and witness highest growth over the forecast period due to the growing electric vehicle production and increasing utilization of nickel in high-performance vehicle.
Emerging trends, which have a direct impact on the dynamics of the industry, include development of nickel alloy foam and increased nickel content in electric vehicle batteries. Vale, Nornickel, BHP Billiton, Jinchuan Group Wholesale Jerseys , Eramet and Sheritt are the major nickel suppliers in the global automotive market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities for nickel in the global automotive market by application, vehicle type, material type and region. Lucintel has compiled a comprehensive research report entitled 鈥淕rowth Opportunities for Nickel in the Global Automotive Market 2018-2023: Trends, Forecast Cheap Custom Soccer Jerseys , and Opportunity Analysis.鈥?The Lucintel report serves as a catalyst for growth strategy, as it provides comprehensive data and analysis on trends, key dr. Cheap Kids Nike Shoes Cheap Air Jordan Shoes Cheap Nike Shoes Cheap Air Max Flyknit Cheap Nike Air Max 95 Cheap Air Max 90 Essential Cheap Air Max Kids Air Jordan 1 For Sale Air Max 1 Clearance Cheap NFL Jerseys