Advanced high strength steel is a special form of steel, which has a wide application in the automotive industry due to various features such as its microstructures and high tensile strength. It is a new generation of steel grade, which possesses ultrahigh strength and is widely applicable in automobile and other industries such as construction. In the automotive industry, the adoption of AHSS allows automakers and engineers to ensure complete safety, efficiency, manufacturability, durability, and quality of vehicle at a significantly low cost.
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 automotive advanced high strength steel (AHSS) market is segmented on the basis of product, application, vehicle type, and region. By product, it is segmented into transformation induced plasticity (TRIP) steel, complex phase, dual phase steel, and others. By application, it is categorized into structural assembly and closures, bumpers, suspension, and others. On the basis of vehicle type, it is classified into passenger vehicles and commercial vehicles. Based on the region, the automotive advanced high strength steel (AHSS) market has been studied across North America, Europe, Asia-Pacific and LAMEA.
The key players analyzed in the automotive advanced high strength steel (AHSS) market includeAK Steel Holding Corporation, ArcelorMittal SA, Baoshan Iron & Steel Co. Ltd., Kobe Steel Ltd., Nucor, POSCO, SSAB AB, Tata Steel Ltd., ThyssenKrupp AG and United Steel Corporation.
KEY BENEFITS FOR STAKEHOLDERS
KEY MARKET SEGMENTS
By Product
By Application
By Vehicle Type
By Region
KEY PLAYERS
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 automotive advanced high strength steel (AHSS) market is segmented on the basis of product, application, vehicle type, and region. By product, it is segmented into transformation induced plasticity (TRIP) steel, complex phase, dual phase steel, and others. By application, it is categorized into structural assembly and closures, bumpers, suspension, and others. On the basis of vehicle type, it is classified into passenger vehicles and commercial vehicles. Based on the region, the automotive advanced high strength steel (AHSS) market has been studied across North America, Europe, Asia-Pacific and LAMEA.
The key players analyzed in the automotive advanced high strength steel (AHSS) market includeAK Steel Holding Corporation, ArcelorMittal SA, Baoshan Iron & Steel Co. Ltd., Kobe Steel Ltd., Nucor, POSCO, SSAB AB, Tata Steel Ltd., ThyssenKrupp AG and United Steel Corporation.
KEY BENEFITS FOR STAKEHOLDERS
- This study presents analytical depiction of the global automotive advanced high strength steel (AHSS) market along with the current trends and future estimations to depict the imminent investment pockets.
- The overall market potential is determined to understand the profitable trends to enable stakeholders gain a stronger foothold in the market.
- The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
- The current market is quantitatively analyzed from 2018 to 2026 to highlight the financial competency of the market.
- Porter’s five forces analysis illustrates the potency of the buyers and suppliers.
KEY MARKET SEGMENTS
By Product
- Dual Phase
- TRIP
- Complex Phase
- Others
By Application
- Structural Assembly & Closures
- Bumpers
- Suspension
- Others
By Vehicle Type
- Passenger Vehicles
- Commercial Vehicles
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
KEY PLAYERS
- AK Steel Holding Corporation
- ArcelorMittal SA
- Baoshan Iron & Steel Co. Ltd.
- Kobe Steel Ltd.
- Nucor
- POSCO
- SSAB AB
- Tata Steel Ltd.
- ThyssenKrupp AG
- United Steel Corporation
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: AUTOMOTIVE ADVANCED HIGH STRENGTH STEEL (AHSS) MARKET, BY PRODUCT
CHAPTER 5: AUTOMOTIVE ADVANCED HIGH STRENGTH STEEL (AHSS) MARKET, BY APPLICATION
CHAPTER 6: AUTOMOTIVE ADVANCED HIGH STRENGTH STEEL (AHSS) MARKET, BY VEHICLE TYPE
CHAPTER 7: AUTOMOTIVE ADVANCED HIGH STRENGTH STEEL (AHSS) MARKET, BY REGION
CHAPTER 8: COMPANY PROFILES
Executive Summary
According to the report titled, 'Automotive Advanced High Strength Steel (AHSS) Market by Product, Application and Vehicle Type: Global Opportunity Analysis and Industry Forecast, 2019-2026,' the global automotive AHSS market was valued at $12.80 billion in 2018, and is projected to reach $33.85 billion by 2026, registering a CAGR of 13.1% from 2019 to 2026.Asia-Pacific dominated the market in terms of growth, followed by Europe, North America and LAMEA. China dominated the global automotive advanced high strength steel (AHSS) market share in 2018, whereas India is expected to grow at a significant rate in the market during the forecast period.
Advanced high strength steel (AHSS) are a form of complex materials produced from heating and cooling processes. Demand for steel is witnessed increasingly across the world, owing to its ductility and formability. In addition, replacement of cast iron and conventional steel components with AHSS directly reduces chassis by up to 50%, thus minimizes fuel consumption of vehicles. Hence, the adoption of lightweight steel facilitates incorporation of additional advanced emission control system, safety devices, and integrated electronic systems without hampering the overall vehicle weight. This further supplement the growth of the global automotive AHSS (advanced high-strength steel) market.
The application of AHSS in the automobile industry experiences significant growth due to its light weight and strong nature. The continuous adoption of new technologies is expected to shape the automotive sector by providing lighter vehicles and meeting fuel efficiency standards. In addition, it facilitates enhanced performance of vehicles 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 automotive advanced high-strength steel (AHSS) market in the automobile industry.
The demand for installation of advanced high strength steel in automobiles has increased due to strict government regulations against harmful emissions as well as the need for light weight components to be used in automobile manufacturing.
Factors such as increase in vehicle production and rise in demand for lightweight automotive components drive the growth of the automotive advanced high strength steel (AHSS) market. However, factors such as availability of substitutes in the market is supposed to hamper the growth of the market. Further, factors such as continuous growth in the automotive industry and increase in need to curb CO2 emissions is expected to create numerous opportunities for the growth and expansion of the automotive AHSS (advanced high-strength steel) market.
According to Abhay Singh, Lead Analyst, Automotive and Transportation, “By product, the dual phase segment dominated the global automotive advanced high strength steel (AHSS)market in 2018, in terms of revenue and is expected to lead the market throughout the forecast period. By application, the structural assembly and closures segment incurred higher application of advanced high strength steel. In addition, the passenger vehicle segment is expected to grow at a faster rate during the forecast period. At present, North America is the highest revenue contributor and is expected to garner the highest revenue in the global market during the forecast period, followed by Asia-Pacific, Europe, and LAMEA.”
KEY FINDINGS OF THE STUDY
- On the basis of product, the dual phase automotive advanced high strength steel system generated the highest revenue in 2018.
- On the basis of application, the structural assembly and closures segment was the highest revenue contributor in 2018.
- On the basis of vehicle type, the passenger vehicle segment is the highest revenue contributor in 2018.
- On the basis of region, North America contributed the highest automotive advanced high strength steel (AHSS) market revenue in 2018, followed by Asia-Pacific, Europe and LAMEA.
- Asia-Pacific is anticipated to exhibit the highest CAGR during the forecast period.
The key players analyzed in this report are AK Steel Holding Corporation, ArcelorMittal SA, Baoshan Iron & Steel Co. Ltd., Kobe Steel Ltd., Nucor, POSCO, SSAB AB, Tata Steel Ltd., ThyssenKrupp AG, and United Steel Corporation.
Companies Mentioned
- AK Steel Holding Corporation
- ArcelorMittal SA
- Baoshan Iron & Steel Co. Ltd.
- Kobe Steel Ltd.
- Nucor
- POSCO
- SSAB AB
- Tata Steel Ltd.
- ThyssenKrupp AG
- United Steel Corporation.
Methodology
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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