The major player operating in the market of global automotive AHSS are 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) and United Steel Corporation (India).
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Automotive AHSS steels are considered major materials for future applications in the production sector. Advanced High Strength Steels or AHSS have quickly been adopted by automotive industry, and these steels are known for their increased strength, lightweight composition and improved performance under impact and energy transfer when exposed to a collision. Increasing vehicle production, lower cost of AHSS materials than other lightweight materials, and growing government regulations regarding CO2 emissions are some of the factors driving the growth of the market. Moreover, growing vehicle demand and engineering advancement for improving the life of vehicles, are some of the factors that drive the demand for the market. The automotive AHSS market is witnessing an upward trend, as auto manufacturers are focusing more on improving safety and fuel economy, while reducing the costs of manufacturing.
There has been increase in the safety regulations and fuel economy regulation and need for improved material have also increased. Steel industry focuses on these needs through development of new and advanced high strength steel grades, whose unique metallurgical property and manufacturability help meet stringent requirements. Steel offers the highest strength level than other metals, and also gives advantageous product application. AHSS is used in a number of applications, shows improved vehicle performance in fuel efficiency, affordability and durability. Depending upon position and application AHSS serves different functions. Many companies focusing on high-quality products and on the changing lifestyle of consumers, enhance the growth of the AHSS market for automotive. Low cost and growing consumer awareness about cost effective nature and more energy efficient vehicles, are driving automotive AHSS market. Moreover, strong global presence and innovations, drive the market in Asia Pacific. Growing urbanization, and developing infrastructure also add to the market growth.
The choice of a material for an automotive application depends on the function, environment, and requirements of the part being produced. Based on product type of automotive AHSS includes dual phase steel, martensitic steel, boron steel and others. Dual-phase steels (DP steels) consist of ferrite, and a dispersed hard martensitic second phase in the form of islands. Usually they are low-carbon low-alloy materials. They combine high strength and good formability at low production costs, and they are widely used in automotive applications
Segments Analysis:
Global automotive AHSS market has broadly been segmented on the basis of product type, vehicle type, application and geography.
By product type, Dual-phase steel is the most widely used product of AHSS by the automotive industry.
On the basis of vehicle type, Passenger cars are expected to witness highest revenue in the forecast period.
On the basis of application, it has been segmented as body & closures, suspensions, bumper and others.
Regional Overview:
In Asia Pacific, China majorly contributes in the steel industry, but in recent times the steel market in China, has declined. The growth of the component manufacturers has taken a different route than other regions. The Japanese producers have maintained strong relationships with their suppliers. The rising competition and increase in the trade, globally, have led to the improved distribution system, across various developing nations. Also, the automotive industry in China continues to grow due to increased production of passenger and commercial vehicles.
FDI is one of the major factors for the growth of automotive industry in China. Automakers in China are developing new and trade friendly policies that enable them to produce a larger number of vehicles. This increase in the number of vehicles, will result in the growth of the automotive AHSS market during the forecast period. The other factors that are responsible for the growth of the market are availability of low-cost manual and innovation in engineering, focus on fuel efficiency and sustainability, and the rising vehicle production levels. The region being a globally competitive automotive manufacturing hub, also pushes the market of Automotive AHSS.
List Of Figures:
Figure 1 Research Methodology
Figure 2 Global Automotive AHSS Market: By System Type (%)
Figure 3 Global Automotive AHSS Market: By Vehicle Type (%)
Figure 4 Global Automotive AHSS Market: By Region
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List Of Tables:
Table 1 Automotive AHSS Global Market, By System Type
Table 2 Automotive AHSS Global Market, By Vehicle Type
Table 3 Automotive AHSS Global Market, By Regions
Table 4 Automotive AHSS North America Market, By System Type
Continued…
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