Focus on light weighting in automobiles is well underway, and will continue in the future. With the objective to reduce fuel emissions and to meet greenhouse gas requirements, automobile manufacturers need to significantly reduce the weight of vehicles. The recent efforts to build lightweight cars from aluminum and carbon-fiber composites, acts as a major restraint for the growth of Advanced High Strength Steels (AHSS) market. Automotive AHSS Market is expected to reach at market size of ~USD 23.45 billion by the end of forecast period with CAGR of ~9.8% during the forecast period.
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Key Players of Automotive AHSS Market:
- AK Steel Holding Corporation (U.S.)
- ArcelorMittal S.A. (Luxembourg)
- China Baowu Steel Group Corp., Ltd. (China)
- Kobe Steel Ltd.( Japan)
- POSCO (South Korea)
- SSAB AB (Sweden)
- Tata Steel Limited (India)
- ThyssenKrupp AG (Germany)
- United Steel Corporation (India)
Market Research Future Analysis:
Market Research Future analysis shows that the global market of Automotive AHSS market is estimated to grow at USD 23.45 billion by the end of year 2023. Asia Pacific is leading the market of automotive AHSS. With the increasing vehicle production in countries such as India and China, and the focus of manufacturers on increasing production capacity, the demand for automotive AHSS is anticipated to grow, significantly. Growing purchasing power, low penetration of automobiles, and infrastructure development in emerging nations, has resulted in an increase in demand for personal transportation and commercial vehicles. Additionally, increasing need for fuel-efficient vehicles along with light-weight automotive parts, and the increase in the production of vehicles are among the other growth drivers of the automotive industry, which would contribute in the automotive AHSS market growth.
Europe holds the largest market share in automotive AHSS market, followed by Asia Pacific due to factors such as strict emission norms laid down by the government, improvement in the economic conditions, and increasing investment by the industry players in the region. The global automotive AHSS is expected to grow at CAGR of 9.8% during the forecast period.
1 Executive Summary
2 Research Methodology
2.1 Scope Of The Study
2.1.2 Research Objective
2.2 Research Process
2.2.1 Primary Research
2.2.2 Secondary Research
2.3 Market Size Estimation
2.4 Forecast Model
3 Market Dynamics
3.1 Market Drivers
3.2 Market Inhibitors
3.3 Supply/Value Chain Analysis
3.4 Porter’s Five Forces Analysis
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