Product Code: GVR-4-68040-286-2
Automotive Advanced High Strength Steel Market Growth & Trends:
The global automotive advanced high strength steel market size is expected to reach USD 25.45 billion by 2030, according to a new report by Grand View Research, Inc., expanding at a CAGR of 6.4% from 2024 to 2030. Rising demand for advanced high-strength steel (AHSS) in lightweight vehicles is driving market growth.
AHSS can help reduce greenhouse gas emissions by 5%. With the development of new grades of AHSS, car manufacturers can now reduce the weight of their vehicles by 25-39% compared to conventional steel. For example, a common family car that fits five people can be made lighter by 170 to 270 kg, which would result in a total saving of 3 to 4.5 tons of greenhouse gases over the entire life of the car.
Based on product type, the complex phase segment is expected to register a CAGR of 8.1% in the said forecast period. This material is utilized in the side panels, bumper rails, and door impact bars of vehicles, which are the crucial components that determine the safety ratings of the vehicle. It possesses exceptional strength and shock-absorbing characteristics without adding extra weight to the vehicle. This material is widely used by automotive manufacturers such as Renault, Samsung Motors, SsangYong Motors, and GM Korea.
The Europe region is expected to experience a CAGR of 7.4% in terms of revenue during the forecast period. The governments in the region are offering lucrative subsidies, which are driving up the demand for electric vehicles (EVs) and positively impacting product growth. As an example, subsidies were announced by Italy's government of up to EUR 6,000 (~ USD 6,570) for new EV purchases. This decision was part of the plan to support the auto industry of the country.
To further secure the future growth of AHSS, key manufacturers are investing to set up new plants or expand their existing manufacturing capacity. For instance, in December 2022, Jindal Steel announced that it is going to invest INR 73,930.0 million (~USD 886.7 million) in the construction of a new specialty steel manufacturing plant under the PLI Scheme of India. The new plant is expected to produce auto-GR steel AHSS, cold rolled, and coated products.
Automotive Advanced High Strength Steel Market Report Highlights:
- Based on vehicle type, passenger vehicles held the largest revenue share of over 64.0% of the global market in 2023. The increasing demand for weight reduction, coupled with the need to ensure vehicle safety, is expected to drive segment growth over the forecast period.
- Based on product type, the dual phase is expected to register a revenue CAGR of 5.9% in the said forecast period. DP steel is popular in automotive manufacturing due to its ability to absorb high-energy crashes, reduce vehicle weight, and improve fuel economy.
- Asia Pacific held a market share of nearly 48.0% in 2023. Increasing demand for EVs and lightweight vehicles in countries like China, India, South Korea, and Singapore is propelling the demand for AHSS products in the region.
- Based on the application, the bumper segment is expected to register the fastest CAGR across the forecast period. AHSS steels are a type of material that can absorb high levels of force when used in bumper reinforcements while also significantly reducing the overall weight of the vehicle.
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Market Segmentation & Scope
- 1.2. Market Definition
- 1.3. Information Procurement
- 1.3.1. Information Analysis
- 1.3.2. Market Formulation & Data Visualization
- 1.3.3. Data Validation & Publishing
- 1.4. Research Scope and Assumptions
- 1.4.1. List of Data Sources
Chapter 2. Executive Summary
- 2.1. Market Snapshot
- 2.2. Segmental Outlook
- 2.3. Competitive Outlook
Chapter 3. Market Variables, Trends, and Scope
- 3.1. Market Lineage Outlook
- 3.2. Value Chain Analysis
- 3.2.1. Raw Material Trends
- 3.3. Manufacturing Overview
- 3.4. Regulatory Framework
- 3.5. Market Dynamics
- 3.5.1. Market Driver Analysis
- 3.5.2. Market Restraint Analysis
- 3.5.3. Market Opportunity Analysis
- 3.5.4. Market Challenges
- 3.6. Porter's Five Forces Analysis
- 3.6.1. Bargaining Power of Suppliers
- 3.6.2. Bargaining Power of Buyers
- 3.6.3. Threat of Substitution
- 3.6.4. Threat of New Entrants
- 3.6.5. Competitive Rivalry
- 3.7. PESTLE Analysis
- 3.7.1. Political
- 3.7.2. Economic
- 3.7.3. Social Landscape
- 3.7.4. Technology
- 3.7.5. Environmental
- 3.7.6. Legal
Chapter 4. Automotive Advanced High Strength Steel Market: Vehicle Type Estimates & Trend Analysis
- 4.1. Automotive Advanced High Strength Steel Market: Product Movement Analysis, 2023 & 2030
- 4.2. Passenger Vehicle Type
- 4.2.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 4.3. Light Commercial Vehicle
- 4.3.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 4.4. Heavy Commercial Vehicle
- 4.4.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
Chapter 5. Automotive Advanced High Strength Steel Market: Product Type Estimates & Trend Analysis
- 5.1. Automotive Advanced High Strength Steel Market: Product Type Movement Analysis, 2023 & 2030
- 5.2. Dual Phase
- 5.2.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 5.3. TRIP
- 5.3.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 5.4. Complex-Phase
- 5.4.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 5.5. Others
- 5.5.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
Chapter 6. Automotive Advanced High Strength Steel Market: Application Estimates & Trend Analysis
- 6.1. Automotive Advanced High Strength Steel Market: Type Movement Analysis, 2023 & 2030
- 6.2. Body in White
- 6.2.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 6.3. Suspension
- 6.3.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 6.4. Bumper
- 6.4.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 6.5. Others
- 6.5.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
Chapter 7. Automotive Advanced High Strength Steel Market: Regional Estimates & Trend Analysis
- 7.1. Regional Analysis, 2023 & 2030
- 7.2. North America
- 7.2.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 7.2.2. Market estimates and forecasts, by vehicle type, 2018 - 2030 (Kilotons) (USD Million)
- 7.2.3. Market estimates and forecasts, by product type, 2018 - 2030 (Kilotons) (USD Million)
- 7.2.4. Market estimates and forecasts, by application, 2018 - 2030 (Kilotons) (USD Million)
- 7.2.5. U.S.
- 7.2.5.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 7.2.5.2. Market estimates and forecasts by product vehicle type, 2018 - 2030 (Kilotons) (USD Million)
- 7.2.5.3. Market estimates and forecasts, by product type, 2018 - 2030 (Kilotons) (USD Million)
- 7.2.5.4. Market estimates and forecasts, by application, 2018 - 2030 (Kilotons) (USD Million)
- 7.2.6. Canada
- 7.2.6.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 7.2.6.2. Market estimates and forecasts, by vehicle type, 2018 - 2030 (Kilotons) (USD Million)
- 7.2.6.3. Market estimates and forecasts, by product type, 2018 - 2030 (Kilotons) (USD Million)
- 7.2.6.4. Market estimates and forecasts, by application, 2018 - 2030 (Kilotons) (USD Million)
- 7.2.7. Mexico
- 7.2.7.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 7.2.7.2. Market estimates and forecasts, by vehicle type, 2018 - 2030 (Kilotons) (USD Million)
- 7.2.7.3. Market estimates and forecasts, by product type, 2018 - 2030 (Kilotons) (USD Million)
- 7.2.7.4. Market estimates and forecasts, by application, 2018 - 2030 (Kilotons) (USD Million)
- 7.3. Europe
- 7.3.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 7.3.2. Market estimates and forecasts, by vehicle type, 2018 - 2030 (Kilotons) (USD Million)
- 7.3.3. Market estimates and forecasts, by product type, 2018 - 2030 (Kilotons) (USD Million)
- 7.3.4. Market estimates and forecasts, by application, 2018 - 2030 (Kilotons) (USD Million)
- 7.3.5. Germany
- 7.3.5.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 7.3.5.2. Market estimates and forecasts, by vehicle type, 2018 - 2030 (Kilotons) (USD Million)
- 7.3.5.3. Market estimates and forecasts, by product type, 2018 - 2030 (Kilotons) (USD Million)
- 7.3.5.4. Market estimates and forecasts, by application, 2018 - 2030 (Kilotons) (USD Million)
- 7.3.6. France
- 7.3.6.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 7.3.6.2. Market estimates and forecasts, by vehicle type, 2018 - 2030 (Kilotons) (USD Million)
- 7.3.6.3. Market estimates and forecasts, by product type, 2018 - 2030 (Kilotons) (USD Million)
- 7.3.6.4. Market estimates and forecasts, by application, 2018 - 2030 (Kilotons) (USD Million)
- 7.3.7. Italy
- 7.3.7.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 7.3.7.2. Market estimates and forecasts, by vehicle type, 2018 - 2030 (Kilotons) (USD Million)
- 7.3.7.3. Market estimates and forecasts, by product type, 2018 - 2030 (Kilotons) (USD Million)
- 7.3.7.4. Market estimates and forecasts, by application, 2018 - 2030 (Kilotons) (USD Million)
- 7.4. Asia Pacific
- 7.4.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 7.4.2. Market estimates and forecasts, by vehicle type, 2018 - 2030 (Kilotons) (USD Million)
- 7.4.3. Market estimates and forecasts, by product type, 2018 - 2030 (Kilotons) (USD Million)
- 7.4.4. Market estimates and forecasts, by application, 2018 - 2030 (Kilotons) (USD Million)
- 7.4.5. China
- 7.4.5.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 7.4.5.2. Market estimates and forecasts, by vehicle type, 2018 - 2030 (Kilotons) (USD Million)
- 7.4.5.3. Market estimates and forecasts, by product type, 2018 - 2030 (Kilotons) (USD Million)
- 7.4.5.4. Market estimates and forecasts, by application, 2018 - 2030 (Kilotons) (USD Million)
- 7.4.6. Japan
- 7.4.6.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 7.4.6.2. Market estimates and forecasts, by vehicle type, 2018 - 2030 (Kilotons) (USD Million)
- 7.4.6.3. Market estimates and forecasts, by product type, 2018 - 2030 (Kilotons) (USD Million)
- 7.4.6.4. Market estimates and forecasts, by application, 2018 - 2030 (Kilotons) (USD Million)
- 7.4.7. India
- 7.4.7.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 7.4.7.2. Market estimates and forecasts, by vehicle type, 2018 - 2030 (Kilotons) (USD Million)
- 7.4.7.3. Market estimates and forecasts, by product type, 2018 - 2030 (Kilotons) (USD Million)
- 7.4.7.4. Market estimates and forecasts, by application, 2018 - 2030 (Kilotons) (USD Million)
- 7.4.8. South Korea
- 7.4.8.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 7.4.8.2. Market estimates and forecasts, by vehicle type, 2018 - 2030 (Kilotons) (USD Million)
- 7.4.8.3. Market estimates and forecasts, by product type, 2018 - 2030 (Kilotons) (USD Million)
- 7.4.8.4. Market estimates and forecasts, by application, 2018 - 2030 (Kilotons) (USD Million)
- 7.5. Central & South America
- 7.5.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 7.5.2. Market estimates and forecasts, by vehicle type, 2018 - 2030 (Kilotons) (USD Million)
- 7.5.3. Market estimates and forecasts, by product type, 2018 - 2030 (Kilotons) (USD Million)
- 7.5.4. Market estimates and forecasts, by application, 2018 - 2030 (Kilotons) (USD Million)
- 7.5.5. Brazil
- 7.5.5.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 7.5.5.2. Market estimates and forecasts, by vehicle type, 2018 - 2030 (Kilotons) (USD Million)
- 7.5.5.3. Market estimates and forecasts, by product type, 2018 - 2030 (Kilotons) (USD Million)
- 7.5.5.4. Market estimates and forecasts, by application, 2018 - 2030 (Kilotons) (USD Million)
- 7.6. Middle East & Africa
- 7.6.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 7.6.2. Market estimates and forecasts, by vehicle type, 2018 - 2030 (Kilotons) (USD Million)
- 7.6.3. Market estimates and forecasts, by product type, 2018 - 2030 (Kilotons) (USD Million)
- 7.6.4. Market estimates and forecasts, by application, 2018 - 2030 (Kilotons) (USD Million)
Chapter 8. Competitive Landscape
- 8.1. Global Recent Developments, By Key Market Participants
- 8.2. Kraljic Matrix
- 8.3. Competition Categorization
- 8.4. Company Ranking Analysis, 2023
- 8.5. Heat Map Analysis
- 8.6. Vendor Landscape
- 8.6.1. List of raw material suppliers
- 8.6.2. List of distributors
- 8.6.3. List of other prominent manufacturers
- 8.6.4. List of prospective end-users
- 8.7. Strategy Mapping
- 8.8. Company Profiles/Listing
- 8.8.1. Arcelor Mittal S.A
- 8.8.1.1. Company Overview
- 8.8.1.2. Financial Performance
- 8.8.1.3. Product Benchmarking
- 8.8.2. BAOSTEEL
- 8.8.2.1. Company Overview
- 8.8.2.2. Financial Performance
- 8.8.2.3. Product Benchmarking
- 8.8.3. Cleveland-Cliffs Inc.
- 8.8.3.1. Company Overview
- 8.8.3.2. Financial Performance
- 8.8.3.3. Product Benchmarking
- 8.8.4. JSW Steel Limited
- 8.8.4.1. Company Overview
- 8.8.4.2. Financial Performance
- 8.8.4.3. Product Benchmarking
- 8.8.5. POSCO
- 8.8.5.1. Company Overview
- 8.8.5.2. Financial Performance
- 8.8.5.3. Product Benchmarking
- 8.8.6. SSAB
- 8.8.6.1. Company Overview
- 8.8.6.2. Financial Performance
- 8.8.6.3. Product Benchmarking
- 8.8.7. Tata Steel Limited
- 8.8.7.1. Company Overview
- 8.8.7.2. Financial Performance
- 8.8.7.3. Product Benchmarking
- 8.8.8. Thyssenkrupp AG
- 8.8.8.1. Company Overview
- 8.8.8.2. Financial Performance
- 8.8.8.3. Product Benchmarking
- 8.8.9. United States Steel Corporation
- 8.8.9.1. Company Overview
- 8.8.9.2. Financial Performance
- 8.8.9.3. Product Benchmarking
- 8.8.10. voestalpine Stahl GmbH
- 8.8.10.1. Company Overview
- 8.8.10.2. Financial Performance
- 8.8.10.3. Product Benchmarking