A new Report by Delvens, titled "Automotive Advanced High-Strength Steel (AHSS) Market” offers a comprehensive analysis of the industry, which comprises insights on the Global analysis. The report also includes competitor and regional analysis, and contemporary advancements in the market, Automotive Advanced High-Strength Steel (AHSS) Market size is 20.52 billion USD in 2022 and is projected to reach a CAGR of 9.9% from 2023-2030.
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Factors such as the increase in vehicle production and the rise in demand for lightweight automotive components drive market growth. Further, factors such as continuous growth in the automotive industry and an increase in the need to curb CO2 emissions are expected to create numerous opportunities for the growth and expansion of the market.
On the other hand, factors such as the availability of substitutes in the market are supposed to hamper its growth.
Recent Developments
In January 2022, SSAB planned a new Nordic production system to bring forward the green transition. The investment will result in a broader offering of SSAB’s premium products, advanced high-strength steel (AHSS), and quenched and tempered steel (Q&T).
In September 2021, ArcelorMittal introduced a third generation of advanced high-strength steels (AHSS), specifically developed for OEMs. The company utilizes cold stamping and forming technologies for the development of third-generation AHSS.
The prominent players in Automotive Advanced High-Strength Steel (AHSS) Market are
· AK Steel Corporation
· ThyssenKrupp AG
· ArcelorMittal
· Baoshan Iron & Steel Company Limited
· Kobe Steel, Ltd
· Nucor Corporation
· SSAB AB
· Tata Steel Limited
· United States Steel Corporation
· POSCO and More
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Asia Pacific to Dominate the Market
Asia-Pacific region has been contributing significantly towards the market share due to an extravagant demand for automobiles in countries of this region.
Factors such as the availability of low-cost labour and innovation in engineering, focus on fuel efficiency and sustainability, and the rising vehicle production levels have been responsible for the growth of the market. This region has been known as the manufacturing hub because of the large-scale production of automobiles.
Automotive Advanced High-Strength Steel (AHSS) Market is segmented into various segments such as product, Application, vehicle type, and region:
On the basis of product
· Transformation-induced plasticity (TRIP) steel
· Dual-phase steel
· Complex phase (CP)
· Others
On the basis of the application
· Structural Assembly & Closures
· Bumpers
· Suspension
· Others
On the basis of vehicle type
· Passenger Vehicles
· Commercial Vehicles
On the basis of region
· Asia Pacific
· North America
· Europe
· South America
· Middle East & Africa
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Frequently Asked Questions
· What are the years considered to study Automotive Advanced High-Strength Steel (AHSS) Market?
· What is the compound annual growth rate (CAGR) of the Automotive Advanced High-Strength Steel (AHSS) Market?
· Which region holds the largest market share in Automotive Advanced High-Strength Steel (AHSS) Market?
· Who are the major players in Automotive Advanced High-Strength Steel (AHSS) Market?
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