The automotive industry is growing rapidly, particularly in Asia.
An industry gear shift
The automotive industry is growing rapidly, particularly in Asia. With growing environmental concerns, the challenge for the automotive industry is to produce energy-efficient cars with lower emissions. Sandvik is partnering with the automakers to enable sustainable growth.
WardsAuto, which has published reports about the automotive industry since 1924, predicts that car sales will increase globally from 88 million cars in 2013 to 107 million in 2020. That’s more than three cars sold every second. Shorter product life cycles, consumers’ desire for a more personal design, increased connectivity and environmental focus are factors that are changing conditions for the industry. They also affect production.
“The production of cars is increasing in emerging markets such as China and India, while the development in traditional automotive countries, for example Europe, Japan and the US, is substantially slower,” says Mattias Nilsson, Program Manager Automotive at Sandvik Coromant. “That’s one of the principal trends we see.”