As per this study the Global Automotive Steel Market was valued USD XX MN (by revenue) in 2019 and is anticipated to reach USD XX MN by 2026 with a CAGR of XX%. By volume, the market was estimated XX KT in 2019 and is expected to reach XX KT by 2026 with a CAGR of XX%.
Automotive steel is basically an alloy of iron, carbon, and other elements. Owing to high tensile strength and light weight, steel is majorly used in the manufacturing of automotive and other accessories. Hence, automobiles are fuel-efficient and also reduce carbon dioxide emission due to lightweight property. Different grades of steel like alloy steel, high strength steel, and advanced high strength steel are used according to their application in manufacturing of different categories of vehicles such as passenger vehicles, light commercial vehicles, and heavy vehicles.
The growing demand for lightweight steel in the automation industry in order to enhance the fuel efficiency of automobiles is propelling the market demand for automotive steel. Moreover, increasing production of automobiles is further pushing the market growth. On the flip side, the use of substitute materials such as aluminum and carbon fiber in automotive is expected to hinder market growth.
This detailed market study is centered on the data obtained from multiple sources and is analyzed using numerous tools including porter’s five forces analysis, market attractiveness analysis and value chain analysis. These tools are employed to gain insights of the potential value of the market facilitating the business strategists with the latest growth opportunities. Additionally, these tools also provide a detailed analysis of each application/product segment in the global market of automotive steel.
The broad automotive steel market has been sub-grouped into type, vehicle type and application. The report studies these subsets with respect to the geographical segmentation. The strategists can gain a detailed insight and devise appropriate strategies to target specific market. This detail will lead to a focused approach leading to identification of better opportunities.
By Vehicle Type
- Mild Steel
- Alloy Steel
- High Strength Steel
- Advanced High Strength Steel (AHSS)
- Passenger Vehicles
- Light Commercial Vehicles
- Heavy Commercial Vehicles
- Body-in White
- Drive Train
Furthermore, the report comprises of the geographical segmentation which mainly focuses on current and forecast demand for automotive steel in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report further focuses on demand for individual application segments in all the regions.
Global Automotive Steel Market Share by Region (Representative Graph)
The report also covers detailed competitive landscape including company profiles of key players operating in the global market. The key players in the Automotive Steel market include ArcelorMittal, Baosteel, Hesteel Group, JFE Steel Corporation, Nippon Steel, POSCO, Severstal, ThyssenKrupp, TimkenSteel, and United States Steel Corporation. An in-depth view of the competitive outlook includes future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launches, new product developments and other developments with information in terms of H.Q.
A combination of primary and secondary research has been used to determine the market estimates and forecasts. Sources used for secondary research include (but not limited to) Paid Data Sources, Company Websites, Technical Journals, Annual Reports, SEC Filings and various other industry publications. Specific details on methodology used for this report can be provided on demand.