Page 17 - ITAtube Journal 2 2022

Market information
sales figures are rising - with global deliver- ies expected to reach 85.5 million units by the end of the year.
As the macroeconomic outlook for the automotive industry deteriorates, a modest return to growth in new car sales of private and commercial vehicles is expected over the next two years. ABI Research forecasts global vehicle sales growth of 5.1% in 2023 and 3.6% in 2024. Furthermore, car manu- facturers can expect sales to exceed the 90 million units level again in 2025 (Figure 20).
In terms of regional growth in vehicle sales, the following chart summarises this find- ings. The forecasts for 2023 are much more favourable for car manufacturers. Sales
in North America will increase by 6%, in Western Europe by 6.2% and in the Asia-Pa- cific region by 4.3%.
According to IHS, the recovery process in the volume markets of Europe and North America anyhow will take longer. Future growth will primarily take place in Asia, particularly in China. However, China could increasingly become a sales problem for the western automotive industry due to the American decoupling tendencies and the strengthening local car industry in China.
However, the tendency to further reduce the weight of vehicles supports the trend towards the use of tubular products.
The transition to electromobility can also support the use of tubular components, as the additional weight of the batteries must be compensated for as far as possible. The automotive industry offers many attractive applications for tubular products.
The greatest potential for the use of tubular products is seen in the vehicle frame, fol- lowed by the chassis and powertrain. Tube manufacturers will endeavour to enter new vehicle series with larger quantities in order to further expand their presence in the light vehicle industry.
Overall, the automotive industry faces the challenge of the transition to electromobil- ity and the question of how it can continue to serve markets in which electromobility
ITAtube Journal December 2023
Figure 20: Global vehicle sales volume 2021-2026 (million units) Source: ABI Research (MD-MOBI-108)
Figure 21: The Global construction equipment Market in USD (2020-2030) Source: Statista.com/GlobeNewswire/Precedence Research
cannot be introduced due to restrictions in the availability of electrical energy. Car manufacturers must therefore pursue all drive technologies to avoid losing major market potential. Environmentally friendly combustion technologies will continue to have their place. Political institutions, such as those in Europe, on the other hand,
are setting deadlines to ban combustion technologies including green fuels. In this area of conflict, the automotive industry, including its suppliers of tube products, must find suitable business approaches.
The mechanical engineering market segment, which accounts for around 9% of world pipe production, has developed well in line with global GDP in recent years (Figure 21). During the financial- and corona crisis, the market was charac- terised by higher volatility with sharper declines and quick recoveries. In 2022,
the current further recovery was slowed
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