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The report offers actionable and valuable market insights of Automotive Advanced High Strength Steel. The latest report by Fact.MR provides details on the present scenario of the market across various regions along with the historic data and forecast of the market. The report also includes information on the sales and demand of Automotive Advanced High Strength Steel Market across various industries and regions.
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The global advanced high strength steel (AHSS) market has gained high momentum over the historical years. This is attributed to the increasing demand for high strength and efficient materials from automakers. Globally, the overall consumption of advanced high strength steel market was pegged at a near 14 Mn Tonnes in 2019 and accounted for ~1% share in global steel sector.
The market study done by Fact.MR gives exclusive information about how the market will grow. The study identifies crucial trends that are determining the growth of Automotive Advanced High Strength Steel market. This newly published report sheds light on vital dynamics, such as the drivers, restraints, and opportunities for key market players as well as emerging players associated with the production and supply. The latest report by Fact.MR provides detailed Market Analysis of Automotive Advanced High Strength Steel
This newly published and insightful report sheds light on Market Insights of Automotive Advanced High Strength Steel, key dynamics, their impact on the overall value chain from suppliers to end-users and Growth of Automotive Advanced High Strength Steel Market. The study offers a comprehensive analysis on diverse features including production capacities, demand, product developments, revenue generation and sales in advanced high strength steel (AHSS) market across the globe.
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Advanced High Strength Steel (AHSS) Market Segmentation
Fact.MR has studied the advanced high strength steel (AHSS) market with detailed segmentation on the basis of type, vehicle type, tensile strength, application, and key regions.
Type
- Dual-phase (DP)
- Martensitic (MS)
- Transformation-induced plasticity (TRIP)
- Twinning-induced plasticity(TWIP)
- Others
Vehicle Type
- Passenger
- Commercial
Tensile Strength
- Up to 600 MPa
- 600-900 MPa
- 900-1200 MPa
- 1200-1500 MPa
- Above 1500 MPa
Application
- Structural details
- Car Seats
- Bumpers
- Chasis, wheels & power train
- Side impact beams
- Others
Region
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- Middle East & Africa
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Control on Volatility and High Cost of Raw Materials: A Key to Success within AHSS Market
Global advanced high strength steel market is moderately consolidated in nature, with leading players in the market having monopoly. Prominent companies operating in the global advanced high strength steel (AHSS) market, include ThyssenKrupp AG, Nucor Corp, ArcelorMittal SA., AK Steel Holding Corp, Baoshan Iron & Steel Co., Ltd and SSAB AB. Buoyancy of the leading players can be attributed to their global presence and R&D activities.
Supplier-specific input cost is expected to increase in coming years, which is expected to become a prominent challenge for manufacturers to control the volatility and high prices of raw materials. Furthermore, key stakeholders have entered into strategic collaborations with leading auto makers to achieve higher sales and long-term customer retention. Furthermore, manufacturers have also targeted capacity expansion organically or through acquisitions in order to meet scattering global demand.
Key Takeaways of Advanced High Strength Steel Market
- Global advanced high strength steel market is expected to create a value opportunity of around US$ 27.6 Bn during the forecast period, adding 2.6X more value as compared to 2019
- Despite losing significant market share by 2029, Dual phase (DP) Advanced High Strength Steel is expected to account for almost 2/3rd of the total incremental $ opportunity created in the market over the forecast period
- Transformation-induced plasticity (TRIP) is emerging as the most innovative technique in the AHSS market growing at the fastest CAGR throughout the forecast period, as it can be engineered or tailored to provide excellent formability for manufacturing complex AHSS parts
- AHSS for structural design applications in automotive is expected to gain 384 BPS by 2029, as substitution of AHSS with conventional steel reduces the mass of vehicle, thus significantly decreasing CO2 emissions from vehicles
- East Asia and South Asia & Oceania will remain a highly attractive market for AHSS, rapid increase in automotive production from these regions will account for bulk of AHSS demand
“As shift towards greener technologies has gained impetus over the last few decades, federal governments have influenced automakers to refocus on consumption of AHSS. On every kg of AHSS used in a vehicle, 8 kg of greenhouse gases can be saved in total, which has been propelling AHSS demand worldwide”, says a Fact.MR analyst
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More Valuable Insights on Automotive Advanced High Strength Steel Market
Fact.MR, in its new report, offers an unbiased Market Analysis of Automotive Advanced High Strength Steel, Sales and Demand of Automotive Advanced High Strength Steel, analyzing forecast statistics through 2019 and beyond. The study reveals growth projections on the basis of various criteria.
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