Global Automotive Structural Steel Market, By Manufacturing Process (Cold Rolling, Hot Rolling), Product Type (Galvanized Steel, Stainless Steel, High-Strength Steel, Mild Carbon Steel, Ultra-High speed Steel), Component (Body Structure Components, Drivetrain Components, Under Chassis Components), Vehicle Type (Passenger Car, Light Commercial Vehicle (LCV), Heavy Commercial Vehicle (HCV), Two Wheeler), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
Market Analysis and Insights : Global Automotive Structural Steel Market
Automotive structural steel market is expected to reach USD 147,693.80 million by 2028 witnessing market growth at a rate of 4.30% in the forecast period of 2021 to 2028. Data Bridge Market Research report on automotive structural steel market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecast period while providing their impacts on the market’s growth.
Automotive structural steel is used to provide vehicle parts with greater strength. The mixing of alloy materials and cooling at low temperatures will achieve high steel strength. In addition, automotive structural steel has excellent potential for cold forming. It is therefore used in the production of booms, truck arms, and trailer frames. Thanks to its excellent surface finishing and admirable corrosion resistance, stainless steel is predominantly used to produce automotive vehicle exhaust systems.
Increasing demand for eco-friendly vehicles along with rising production of the automotive vehicles across the globe, supportive government regulations pertaining to overall vehicle weight and safety of passengers, increasing focus on making high-performance automotive structural steel at affordable cost, increasing usages of advanced high-strength steel to increase the safety of vehicles are some of the major as well as important factors which will likely to augment the growth of the automotive structural steel market in the projected timeframe of 2021-2028. On the other hand, rising demand for passenger vehicles along with imposition of regulations pertaining to emission of harmful gasses and rising awareness of lightweight eco-friendly vehicles which will further contribute by generating massive opportunities that will lead to the growth of the automotive structural steel market in the above mentioned projected timeframe.
Increasing issues related to corrosion along with high cost of maintenance which will likely to act as market restraints factor for the growth of the automotive structural steel in the above mentioned projected timeframe. High temperatures, steel loses its properties which will become the biggest and foremost challenge for the growth of the market.
This automotive structural steel market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on automotive structural steel market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Automotive Structural Steel Market Scope and Market Size
Automotive structural steel market is segmented on the basis of manufacturing process, product type, component and vehicle type. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- Automotive structural steel market on the basis of manufacturing process has been segmented as cold rolling, and hot rolling.
- Based on product type, the automotive structural steel market has been segmented into galvanized steel, stainless steel, high-strength steel, mild carbon steel, and ultra-high speed steel.
- On the basis of component, the automotive structural steel market has been segmented into body structure components, drivetrain components, and under chassis components.
- Automotive structural steel has also been segmented on the basis of vehicle type into passenger car, light commercial vehicle (LCV), heavy commercial vehicle (HCV), and two wheeler.
Automotive Structural Steel Market Country Level Analysis
Automotive structural steel market is analysed and market size, volume information is provided by country, manufacturing process, product type, component, and vehicle type as referenced above.
The countries covered in the automotive structural steel market report are U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
North America will dominate the automotive structural steel market due to the rising demand for passenger vehicles along with imposition of regulations pertaining to emission of harmful gasses while Asia-Pacific will expect to grow in the forecast period of 2021-2028 due to the increasing automotive vehicle fleet, coupled with the rising awareness of lightweight eco-friendly vehicles in the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Automotive Structural Steel Market Share Analysis
Automotive structural steel market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, regional presence, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to automotive structural steel market.
The major players covered in the automotive structural steel market report are POSCO; KIRCHHOFF Automotive GmbH; Inner Galaxy Group; thyssenkrupp AG; Advanced Structural Technologies; SSAB group; Waldaschaff Automotive GmbH; KOBE STEEL, LTD.; Ternium; Gerdau S/A; ArcelorMittal; Tata Steel; NIPPON STEEL CORPORATION.; JSW; Essar.; Southern Steel & Concrete Inc.; G Steel Public Company Limited; Capitol Steel & Supply; HYUNDAI-STEEL.; Nucor Corporation; Baosteel Group Hu; among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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