Automotive Advanced High Strength Steel Market Analysis and Forecast by Size, Share, Growth, Trends 2031

Coverage: Automotive Advanced High Strength Steel Market covers analysis By Vehicle Type (Passenger Vehicle and Commercial Vehicle), Product Type (Dual Phase, TRIP, Complex-Phase, and Others), Application (Structural Assembly & Closures, Bumpers, Suspension, and Others), and Geography

  • Report Code : TIPRE00039141
  • Category : Automotive and Transportation
  • Status : Upcoming
  • No. of Pages : 150
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The automotive advanced high strength steel market is expected to register a CAGR of 7.5% during 2023–2031. The product innovation in automotive advanced high strength steel is likely to remain a key trend in the market.

Automotive Advanced High Strength Steel Market Analysis

  • AHSS steels are a special family of steel alloys with superior mechanics properties, such as high strength, excellent formability, and good crashworthiness, and occupy a special position in automotive applications.
  • Increasing demand of fuel efficiency and environment preservation have made cars become greener and lighter in the world and provide huge market potential for the development of automotive steel. More and more automotive companies use Advanced High Strength Steel (AHSS). AHSS allows automakers to meet the demand of lighter, safer, and more fuel-efficient vehicles which in turn is expected to drive the market growth in the coming years.

Automotive Advanced High Strength Steel Market Overview

  • In addition, AHSS is used in the automotive sector due to its excellent mechanical properties, providing the vehicle with high strength, good formability and superior crashworthiness. Manufacturing lightweight and fuel-efficient cars that still provide optimum passenger safety relies on commendable materials. With vehicles today being characterized by fast and agile dynamic performance, AHSS is increasingly used to boost the crash worthiness of vehicles within the targeted fuel economy constraints.
  • Indeed, lowering the weight of the cars is the lowest-hanging fruit to improve their energy consumption. Fundamentally, this can be achieved only with a relatively low cost and a high return on investment (ROI). Today, AHSS is the definite material and concept bringing with it new breakthroughs in reducing vehicle weight and CO2 emissions with high ROI.

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Automotive Advanced High Strength Steel Market: Strategic Insights

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Automotive Advanced High Strength Steel Market Drivers and Opportunities

Increasing Demand to Reduce the Weight of Vehicle to Improve Fuel Efficiency and Reduced Carbon Emissions to Favor the Market

  • The drive to decrease the total weight of vehicles comes from the need to improve efficiency and simultaneously reduce carbon emissions. AHSS plays a vital role in this. AHSS is used in a number of automotive parts in vehicles today. Overall, up to 60 per cent of the vehicle body is now made of AHSS, helping to develop lighter and optimized vehicle designs that allow automakers to bring increased value in terms of safety to the driver and improved efficiency.
  • The use of AHSS allows automakers to reduce part and total vehicle weight by 25-39 per cent and 8-10 per cent respectively when compared with conventional steel. Overall, this can result in weight savings of 100-150 kg in typical five-passenger family cars. This enables significant fuel savings and reduced carbon emissions from the vehicle, which is one of the key priorities to be met if the industry is to deliver improved environmental performance.

Electric Vehicle Industry Growth

  • The growth in electric vehicle (EV) industry owing to the advance technology, progressive government initiatives, utilization of self-driving electric vehicle technology and increase in the trend of smart mobility service. There has been increase in government regulations and the trend towards electric vehicle adoption. For example, the government of India stated goal to electrify all of its' Light Commercial Vehicles'.
  • China is another country which is focusing on considerable number in vehicle production due to government interventions and their goal of environment friendly policy. Indonesia too has plans to produce 2 million Passenger Car (PC) per year by 2031. All these factors are favouring the growth of electric vehicle industry, especially in developing countries.

Advancement in technology in battery compartments, adapting self-driving features, government intervention and increase in smart mobility service will contribute to driving the use of electric car by 2031.

Automotive Advanced High Strength Steel Market Report Segmentation Analysis

Key segments that contributed to the derivation of the automotive advanced high strength steel market analysis are vehicle type, product type, and application.

  • Based on vehicle type, the automotive advanced high strength steel market is divided into passenger vehicle and commercial vehicle.
  • On the basis of product type, the market is divided into dual phase, trip, complex-phase, and others.
  • Based on application, the automotive advanced high strength steel market is divided into structural assembly & closures, bumpers, suspension, and others.

Automotive Advanced High Strength Steel Market Share Analysis by Geography

  • Automotive advanced high strength steel market Report comprises a detailed analysis of five major geographic regions, which includes current and historical market size and forecasts for 2021 to 2031, covering North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and South & Central America.
  • Each region is further sub-segmented into respective countries. This report provides analysis and forecasts of 18+ countries, covering automotive advanced high strength steel market dynamics such as drivers, trends, and opportunities that are impacting the markets at the regional level.
  • Also, the report covers PEST analysis, which involves the study of major factors that influence the automotive advanced high strength steel market in these regions.

Automotive Advanced High Strength Steel Market Regional Insights

The regional trends and factors influencing the Automotive Advanced High Strength Steel Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Automotive Advanced High Strength Steel Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

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Automotive Advanced High Strength Steel Market Report Scope

Report Attribute Details
Market size in 2023 US$ XX million
Market Size by 2031 US$ XX million
Global CAGR (2023 - 2031) 7.5%
Historical Data 2021-2022
Forecast period 2024-2031
Segments Covered By Vehicle Type
  • Passenger Vehicle
  • Commercial Vehicle
By Product Type
  • Dual Phase
  • TRIP
  • Complex-Phase
By Application
  • Structural Assembly & Closures
  • Bumpers
  • Suspension
Regions and Countries Covered North America
  • US
  • Canada
  • Mexico
Europe
  • UK
  • Germany
  • France
  • Russia
  • Italy
  • Rest of Europe
Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
South and Central America
  • Brazil
  • Argentina
  • Rest of South and Central America
Middle East and Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of Middle East and Africa
Market leaders and key company profiles
  • Cleveland-Cliffs Inc.
  • ThyssenKrupp AG
  • POSCO
  • Tata Steel Ltd
  • SSAB AB
  • United States Steel Corporation
  • Kobe Steel Ltd
  • ArcelorMittal

  • Automotive Advanced High Strength Steel Market Players Density: Understanding Its Impact on Business Dynamics

    The Automotive Advanced High Strength Steel Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

    Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

    Major Companies operating in the Automotive Advanced High Strength Steel Market are:

    1. Cleveland-Cliffs Inc.
    2. ThyssenKrupp AG
    3. POSCO
    4. Tata Steel Ltd
    5. SSAB AB
    6. United States Steel Corporation

    Disclaimer: The companies listed above are not ranked in any particular order.


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    Automotive Advanced High Strength Steel Market News and Recent Developments

    The automotive advanced high strength steel market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the automotive advanced high strength steel market are listed below:

    • United States Steel Corporation (NYSE: X) today announced the acquisition of the flat rolled sheet patents and trademarks of The NanoSteel Company, Inc. as part of U. S. Steel’s ongoing commitment to offer customers the world’s best selection of advanced high-strength steels, which now includes the most formable high-strength steel available anywhere. (Source: U.S. Steel Corporation, Company Website, March 2021)
    • The third-generation Nissan Rogue, introduced for the 2021 model year, incorporates a much greater percentage of advanced high-strength steel (AHSS) than its predecessor, including super high formable 980 and super high formable 1180 materials (Source: Nissan Rogue, Company Website, June 2022)

    Automotive Advanced High Strength Steel Market Report Coverage and Deliverables

    The “Automotive advanced high strength steel market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:

    • Automotive advanced high strength steel market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
    • Automotive advanced high strength steel market trends as well as market dynamics such as drivers, restraints, and key opportunities
    • Detailed PEST/Porter’s Five Forces and SWOT analysis
    • Automotive advanced high strength steel market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
    • Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the automotive advanced high strength steel market
    • Detailed company profiles
    • Historical Analysis (2 Years), Base Year, Forecast (7 Years) with CAGR
    • PEST and SWOT Analysis
    • Market Size Value / Volume - Global, Regional, Country
    • Industry and Competitive Landscape
    • Excel Dataset
    Report Coverage

    Report Coverage

    Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

    Segment Covered

    Segment Covered

    This text is related
    to segments covered.

    Regional Scope

    Regional Scope

    North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

    Country Scope

    Country Scope

    This text is related
    to country scope.

    Frequently Asked Questions


    Which are the leading players operating in the automotive advanced high strength steel market?

    The leading players operating in the automotive advanced high strength steel market include Cleveland-Cliffs Inc., ThyssenKrupp AG, POSCO, Tata Steel Ltd, SSAB AB, United States Steel Corporation, Kobe Steel Ltd, and ArcelorMittal.

    What are the deliverable formats of the automotive advanced high strength steel market report?

    The report can be delivered in PDF/PPT format; we can also share excel dataset based on the request.

    What are the future trends of the automotive advanced high strength steel market?

    The product innovation in automotive advanced high strength steel is the key future trend in the global automotive advanced high strength steel market in the coming years.

    What is the expected CAGR of the automotive advanced high strength steel market?

    The global automotive advanced high strength steel market is expected to grow at a CAGR of 7.5% during the forecast period 2023 - 2031.

    What are the driving factors impacting the global automotive advanced high strength steel market?

    Increasing demand to reduce the weight of vehicle to improve fuel efficiency and reduced carbon emissions is the major factor driving the automotive advanced high strength steel market.

    What are the options available for the customization of this report?

    Some of the customization options available based on the request are an additional 3–5 company profiles and country-specific analysis of 3–5 countries of your choice. Customizations are to be requested/discussed before making final order confirmation, as our team would review the same and check the feasibility.

    Trends and growth analysis reports related to Automotive and Transportation : READ MORE..   

    • Cleveland-Cliffs Inc.
    • ThyssenKrupp AG
    • POSCO
    • Tata Steel Ltd
    • SSAB AB
    • United States Steel Corporation
    • Kobe Steel Ltd
    • ArcelorMittal

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