The global advanced high-strength steel market size was valued at $13,147 million in 2016 and is anticipated to reach $29,151 million by 2023 at a CAGR of 12.2% during the forecast period.
Advanced high-strength steel (AHSS) is the new generation of steel grade, which possesses ultra high-strength, and is widely applicable in the automobile and construction industries. In automotive industry, the adoption of AHSS allows automakers and engineers to ensure complete safety, efficiency, manufacturability, durability, and quality of the vehicle at a significantly low cost. This drives the global advanced high-strength steel market.
The new grades of AHSS enable car manufacturers to reduce vehicle weight by 30–40% as compared to the conventional steels. In addition, the adoption of this steel saves more than four tons of greenhouse gases emissions, thereby ensuring complete safety to the environment, thereby supplementing the growth of the advanced high-strength steel market.
The report segments the global advanced high-strength steel market based on grade, end user, and region. Depending on grade, the market is divided into dual phase, transformation-induced plasticity, complex phase, and others. By end user, it is classified into automotive, construction, and others. The automotive industry generated the maximum revenue in 2016, and is expected to remain dominant throughout the analysis period. The market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America is expected to dominate the global advanced high-strength steel market until 2023.
The prominent players operating in the global advanced high-strength steel market have strategically focused on product launch as their key strategy to gain significant share in the market. The key players profiled in the report include Tata Steel Limited, ArcelorMittal S.A., NanoSteel, AK Steel Corporation, Nucor Corporation, MTL Advanced Ltd., United States Steel Corporation, Baoshan Iron and Steel Co. Ltd., Kobe Steel Ltd., and SSAB AB.
KEY BENEFITS FOR STAKEHOLDERS
This report provides an extensive analysis of the current trends and emerging estimations in the market.
In-depth analysis of the global advanced high-strength steel industry is conducted through market estimations of key segments from 2017 to 2023.
Comprehensive analysis of factors that drive and restrain the growth of the market is provided in the report.
Extensive analysis of the industry is conducted by following key product positioning and monitoring the top competitors within the market framework.
The key players are profiled along with their strategies to determine the competitive outlook of the advanced high-strength steel market.
ADVANCED HIGH-STRENGTH STEEL MARKET SEGMENTS
By Grade
Dual Phase (DP)
Transformation-induced Plasticity (TRIP)
Complex Phase (CP)
Others
By End User
Automotive
Construction
Others
By Region
North America
U.S.
Canada
Mexico
Europe
Germany
France
UK
Italy
Spain
Rest of Europe
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
LAMEA
Brazil
Argentina
UAE
Saudi Arabia
Africa
Rest of LAMEA
Advanced high-strength steel (AHSS) is the new generation of steel grade, which possesses ultra high-strength, and is widely applicable in the automobile and construction industries. In automotive industry, the adoption of AHSS allows automakers and engineers to ensure complete safety, efficiency, manufacturability, durability, and quality of the vehicle at a significantly low cost. This drives the global advanced high-strength steel market.
The new grades of AHSS enable car manufacturers to reduce vehicle weight by 30–40% as compared to the conventional steels. In addition, the adoption of this steel saves more than four tons of greenhouse gases emissions, thereby ensuring complete safety to the environment, thereby supplementing the growth of the advanced high-strength steel market.
The report segments the global advanced high-strength steel market based on grade, end user, and region. Depending on grade, the market is divided into dual phase, transformation-induced plasticity, complex phase, and others. By end user, it is classified into automotive, construction, and others. The automotive industry generated the maximum revenue in 2016, and is expected to remain dominant throughout the analysis period. The market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America is expected to dominate the global advanced high-strength steel market until 2023.
The prominent players operating in the global advanced high-strength steel market have strategically focused on product launch as their key strategy to gain significant share in the market. The key players profiled in the report include Tata Steel Limited, ArcelorMittal S.A., NanoSteel, AK Steel Corporation, Nucor Corporation, MTL Advanced Ltd., United States Steel Corporation, Baoshan Iron and Steel Co. Ltd., Kobe Steel Ltd., and SSAB AB.
KEY BENEFITS FOR STAKEHOLDERS
This report provides an extensive analysis of the current trends and emerging estimations in the market.
In-depth analysis of the global advanced high-strength steel industry is conducted through market estimations of key segments from 2017 to 2023.
Comprehensive analysis of factors that drive and restrain the growth of the market is provided in the report.
Extensive analysis of the industry is conducted by following key product positioning and monitoring the top competitors within the market framework.
The key players are profiled along with their strategies to determine the competitive outlook of the advanced high-strength steel market.
ADVANCED HIGH-STRENGTH STEEL MARKET SEGMENTS
By Grade
Dual Phase (DP)
Transformation-induced Plasticity (TRIP)
Complex Phase (CP)
Others
By End User
Automotive
Construction
Others
By Region
North America
U.S.
Canada
Mexico
Europe
Germany
France
UK
Italy
Spain
Rest of Europe
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
LAMEA
Brazil
Argentina
UAE
Saudi Arabia
Africa
Rest of LAMEA
Frequently Asked Questions about the Global Advanced High-Strength Steel Market
What is the estimated value of the Global Advanced High-Strength Steel Market?
What is the growth rate of the Global Advanced High-Strength Steel Market?
What is the forecasted size of the Global Advanced High-Strength Steel Market?
Note: Product cover images may vary from those shown
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: ADVANCED HIGH-STRENGTH STEEL MARKET, BY GRADE
CHAPTER 5: ADVANCED HIGH-STRENGTH STEEL MARKET, BY END USER
CHAPTER 6: ADVANCED HIGH-STRENGTH STEEL MARKET, BY REGION
CHAPTER 7: COMPANY PROFILES
Note: Product cover images may vary from those shown
According to a new report published Advanced High- Strength Steel Market by Grade and End User: Global Opportunity Analysis and Industry Forecast, 2017-2023" the global advanced high-strength steel market size was valued at $13,147 million in 2016, and is expected to reach $29,151 million by 2023, registering a CAGR of 12.2% from 2017 to 2023. North America dominated the global market in 2016, accounting for one-third share of the total revenue.
Advanced high-strength steels, also known as AHSS, are the complex materials produced from heating and cooling processes. The demand of new steel is witnessed increasingly across the world owing to its ductility and formability. In addition, replacing cast iron and conventional steel components with AHSS directly reduces chassis by up to 50%, and thus minimizes fuel consumption of the vehicle. Thus, the adoption of lightweight steel facilitates the incorporation of additional advanced emission control system, safety devices, and integrated electronic systems without hampering the overall vehicle weight. This further supplements the growth of the global advanced high-strength steel market.
The deployment of AHSS in the automobile industry experiences significant growth. The continuous adoption of the new technologies and grades is expected to shape the automotive sector by providing lighter vehicles and meeting fuel efficiency standards. In addition, it facilitates enhanced performance of the vehicle and superior strength that is achieved with lighter and thinner materials. Implementation of stringent government regulations to reduce the emission of CO2 drives the growth of the advanced high-strength steel market in the automobile industry. Carmakers replace conventional steels with new grades of AHSS and offer lighter body designs with an aim to reduce GHG emissions and improve fuel economy. The body in white (BIW) structure saves around 25% of mass and 9% of total vehicle weight.
The demand for lightweight components, growth in automotive industry, and the need to reduce CO2 emission levels are anticipated to drive the growth of the advanced high-strength steel market during the forecast period. In addition, the growth in shipbuilding industry and increase in urbanization and industrialization, particularly in the developing economies is projected to create lucrative opportunities for AHSS manufacturers to provide their efficient designs to the shipbuilding manufacturers.
Increase in passenger traffic accounted for delivery of around 1,400 airplanes in 2015; this number increased to around 2,400 airplanes in 2016. Around 39,620 new airplanes are estimated to be delivered globally by 2035. AHSS is used in the aerospace industry in the production of variety of complex components and tight tolerance parts. Thus, the growth in aerospace industry is anticipated to create lucrative opportunities for the aircraft makers.
The Environmental Protection Agency (EPA) and the National Highway Traffic Safety Administration (NHTSA) formulated a national program for greenhouse gas emissions and fuel economy standards. The program aims to minimize the GHG emissions through improved fuel economy. In addition, it is expected to cut around six billion metric tons of GHG for the vehicles sold in between 2012 and 2025, thereby saving more than $1.5 trillion in fuel costs. The increased consciousness to reduce CO2 and GHG emission levels and stringent government regulations drives the growth of the global advanced high-strength steel market.
Key findings of the Advanced High-strength Steel Market:
In terms of value, the dual phase segment in the global advanced high-strength steel market is expected to grow at a CAGR of 13.0% during the forecast period.
North America is expected to dominate, registering a CAGR of 11.3% in terms of value.
Automotive industry is anticipated to dominate global market registering a CAGR of 12.5%.
Asia-Pacific is projected to show exponential growth in demand throughout 2023, growing at a CAGR 14.0% of in terms of value.
In the global market, India is expected to grow at a CAGR of 14.0%, in terms of value.
Key players profiled in the global advanced high-strength steel industry include Tata Steel Limited, ArcelorMittal S.A., NanoSteel, AK Steel Corporation, Nucor Corporation, MTL Advanced Ltd., United States Steel Corporation, Baoshan Iron and Steel Co. Ltd., Kobe Steel Ltd., and SSAB AB.
Advanced high-strength steels, also known as AHSS, are the complex materials produced from heating and cooling processes. The demand of new steel is witnessed increasingly across the world owing to its ductility and formability. In addition, replacing cast iron and conventional steel components with AHSS directly reduces chassis by up to 50%, and thus minimizes fuel consumption of the vehicle. Thus, the adoption of lightweight steel facilitates the incorporation of additional advanced emission control system, safety devices, and integrated electronic systems without hampering the overall vehicle weight. This further supplements the growth of the global advanced high-strength steel market.
The deployment of AHSS in the automobile industry experiences significant growth. The continuous adoption of the new technologies and grades is expected to shape the automotive sector by providing lighter vehicles and meeting fuel efficiency standards. In addition, it facilitates enhanced performance of the vehicle and superior strength that is achieved with lighter and thinner materials. Implementation of stringent government regulations to reduce the emission of CO2 drives the growth of the advanced high-strength steel market in the automobile industry. Carmakers replace conventional steels with new grades of AHSS and offer lighter body designs with an aim to reduce GHG emissions and improve fuel economy. The body in white (BIW) structure saves around 25% of mass and 9% of total vehicle weight.
The demand for lightweight components, growth in automotive industry, and the need to reduce CO2 emission levels are anticipated to drive the growth of the advanced high-strength steel market during the forecast period. In addition, the growth in shipbuilding industry and increase in urbanization and industrialization, particularly in the developing economies is projected to create lucrative opportunities for AHSS manufacturers to provide their efficient designs to the shipbuilding manufacturers.
Increase in passenger traffic accounted for delivery of around 1,400 airplanes in 2015; this number increased to around 2,400 airplanes in 2016. Around 39,620 new airplanes are estimated to be delivered globally by 2035. AHSS is used in the aerospace industry in the production of variety of complex components and tight tolerance parts. Thus, the growth in aerospace industry is anticipated to create lucrative opportunities for the aircraft makers.
The Environmental Protection Agency (EPA) and the National Highway Traffic Safety Administration (NHTSA) formulated a national program for greenhouse gas emissions and fuel economy standards. The program aims to minimize the GHG emissions through improved fuel economy. In addition, it is expected to cut around six billion metric tons of GHG for the vehicles sold in between 2012 and 2025, thereby saving more than $1.5 trillion in fuel costs. The increased consciousness to reduce CO2 and GHG emission levels and stringent government regulations drives the growth of the global advanced high-strength steel market.
Key findings of the Advanced High-strength Steel Market:
In terms of value, the dual phase segment in the global advanced high-strength steel market is expected to grow at a CAGR of 13.0% during the forecast period.
North America is expected to dominate, registering a CAGR of 11.3% in terms of value.
Automotive industry is anticipated to dominate global market registering a CAGR of 12.5%.
Asia-Pacific is projected to show exponential growth in demand throughout 2023, growing at a CAGR 14.0% of in terms of value.
In the global market, India is expected to grow at a CAGR of 14.0%, in terms of value.
Key players profiled in the global advanced high-strength steel industry include Tata Steel Limited, ArcelorMittal S.A., NanoSteel, AK Steel Corporation, Nucor Corporation, MTL Advanced Ltd., United States Steel Corporation, Baoshan Iron and Steel Co. Ltd., Kobe Steel Ltd., and SSAB AB.
Note: Product cover images may vary from those shown
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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