USD 11.68 billion
Report ID: SQMIG15O2008 | Region: Global | Published Date: June, 2023 | Pages: 157 | Tables: 90 | Figures: 71
AHSS (Advanced High Strength Steel) market size was valued at around USD 11.68 billion in 2021 and is expected to rise from USD 12.78 billion in 2022 to reach a value of USD 26.12 billion by 2030, at a CAGR of 9.4% over the forecast period (2022–2030).
The global Advanced High Strength Steel (AHSS) market is growing due to several factors, including increasing demand for lightweight, fuel-efficient vehicles and growing emphasis on safety in the automotive industry.
AHSS offers a combination of high strength and low weight, making it an attractive material for automotive manufacturers looking to reduce the weight of their vehicles without compromising on safety. AHSS is also highly formable, allowing manufacturers to create complex shapes and designs, which can further reduce weight and improve fuel efficiency.
In addition to the automotive industry, the AHSS market is also growing in other sectors, such as construction, aerospace, and defense. AHSS is used in these industries for its high strength and durability, which make it well-suited for challenging environments and applications.
US AHSS (Advanced High Strength Steel) Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 11.68 billion
To get more reports on the above market click here to Buy The Report
The global AHSS (Advanced High Strength Steel) market is segmented based on product, vehicle type, application, and region. By product type, the market is segmented into dual-phase AHSS, transformation-induced plasticity (TRIP) AHSS, and complex-phase AHSS. By vehicle type, the market is segmented into passenger, and commercial. In terms of application, the market is segmented into structural assembly & closures, bumpers, suspension, and others. Regionwise, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Advanced High Strength Steel Analysis by Product Type
The dual-phase AHSS segment dominated the market and is expected to maintain its dominance throughout the forecast period. This can be attributed to its excellent combination of high strength and ductility. Automotive manufacturers prefer Dual-phase AHSS because it allows them to design and produce lighter weight vehicles while still maintaining structural integrity and safety standards.
In addition to its excellent mechanical properties, Dual-phase AHSS is also easy to form and weld, making it a cost-effective choice for automotive manufacturers. Dual-phase AHSS is readily available, and its production process is well-established, making it a reliable and consistent material for automotive applications.
To get detailed analysis on other segments, Request For Sample Report
North America dominated the AHSS (Advanced High Strength Steel)market in 2022 and is expected to maintain its dominance during the forecast period. This growth is owing to the increasing demand for lightweight and fuel-efficient vehicles and the presence of major automotive manufacturers in the region. The implementation of stringent regulations for vehicle safety and emission control has also fueled the demand for AHSS in the region.
Europe is projected to register the fastest growing market growth rate for AHSS, driven by the stringent regulations for CO2 emissions and the increasing demand for lightweight vehicles. The growing trend towards electric vehicles in the region has also created opportunities for AHSS, which is ideal for lightweight and high-strength battery enclosures and structural components.
To know more about the market opportunities by region and country, click here to
Buy The Complete Report
Advanced High Strength Steel Drivers
Increasing Demand for Lightweight and Fuel-efficient Vehicles
Advanced High Strength Steel Restraints
High Cost Compared to Traditional Steel
Speak to one of our ABIRAW analyst for your custom requirements before the purchase of this report
The competitive landscape of the global AHSS (Advanced High Strength Steel) market is highly competitive and fragmented. The market is dominated by several large players, including steel manufacturers, suppliers, and distributors, as well as several small and medium-sized players. These companies compete on various factors such as product quality, innovation, price, and distribution network.
In recent years, many companies have been investing in R&D to develop new AHSS products and improve existing products. Innovation and product development are critical factors for companies to remain competitive in the market. Companies are also focusing on expanding their distribution networks to reach new customers and increase their market share. Some of the key players in the market are:
Advanced High Strength Steel Top Player’s Company Profiles
Advanced High Strength Steel Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyzes the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
The global AHSS (Advanced High Strength Steel) market is expected to witness significant growth in the coming years, driven by the increasing demand for lightweight and fuel-efficient vehicles, rising safety and environmental regulations, and the growing adoption of AHSS in various industries such as automotive, construction, and aerospace.
|Market size value in 2021||USD 11.68 billion|
|Market size value in 2030||USD 26.12 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
Free report customization with purchase. Customization includes:-
To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.
Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share
Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global AHSS (Advanced High Strength Steel) Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global AHSS (Advanced High Strength Steel) Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global AHSS (Advanced High Strength Steel) Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global AHSS (Advanced High Strength Steel) Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Want to customize this report? This report can be personalized according to your needs. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time. We offer $1000 worth of FREE customization at the time of purchase.
"We have purchased recently a report from SkyQuest Technology, and we are happy to inform you that this report was so useful and practical for our team. Skyquest Team was very active and our queries were followed up completely.It was amazing. "
- Mr. Ali Zali, Commercial Director, ICIIC Iran.