USD 12.78 billion
Global AHSS (Advanced High Strength Steel) Market Size, Share, Growth Analysis, By Product(Dual-phase AHSS, Transformation-induced plasticity (TRIP) AHSS), By Vehicle Type(Passenger Vehicle, Commercial Vehicle), By Application(Structural Assembly & Closures, Bumpers) - Industry Forecast 2024-2031
Report ID:
SQMIG15O2008 |
Region:
Global |
Published Date: April, 2024
Pages:
184
|
Tables:
90 |
Figures:
71
Global AHSS (Advanced High Strength Steel) Market Insights
Global AHSS (Advanced High Strength Steel) market size was valued at USD 12.78 billion in 2022 and is expected to grow from USD 13.98 billion in 2023 to USD 28.69 billion by 2031, at a CAGR of 9.4% over the forecast period (2024–2031).
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.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Dual-phase AHSS
Fastest Growth
Dual-phase AHSS
Growth Rate
9.4% CAGR
Global AHSS (Advanced High Strength Steel) market ($ Bn)
Country Share for North America Region (%)
Global AHSS (Advanced High Strength Steel) market Size By Product ($ Bn)
Global AHSS (Advanced High Strength Steel) market Size By Product (%)
To get more reports on the above market click here to Buy The Report
Global AHSS (Advanced High Strength Steel) Market Segmental Analysis
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.
Global AHSS (Advanced High Strength Steel) market By Product, 2023 (%)
To get detailed analysis on other segments, Request For Free Sample Report
Global AHSS (Advanced High Strength Steel) Market Regional Insights
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.
Global AHSS (Advanced High Strength Steel) market By Region, 2024-2031
- Largest
- Fastest
To know more about the market opportunities by region and country, click here to
Buy The Complete Report
Global AHSS (Advanced High Strength Steel) Market Dynamics
Advanced High Strength Steel Drivers
Increasing Demand for Lightweight and Fuel-efficient Vehicles
- Automotive manufacturers are under pressure to reduce vehicle weight and improve fuel efficiency to meet strict emission regulations and address the growing concern for climate change. AHSS is an ideal material for lightweighting as it has a high strength-to-weight ratio, making it possible to reduce the weight of the vehicle without compromising on safety and performance. AHSS also allows for the design of complex shapes and structures, which further reduces weight and improves fuel efficiency. The growing demand for lightweight and fuel-efficient vehicles is expected to drive the demand for AHSS in the automotive industry.
Advanced High Strength Steel Restraints
High Cost Compared to Traditional Steel
- AHSS is a relatively new and advanced material, and the production process is more complex than traditional steel. The higher cost of production translates into a higher cost for the end product, which may limit the adoption of AHSS in various industries. Furthermore, the higher cost of AHSS may also affect the profitability of the end-users, especially in industries with thin profit margins. Although AHSS provides several advantages over traditional steel, the higher cost may act as a restraint for its adoption in certain applications. However, as the demand for lightweight and high-strength materials increases, the cost of AHSS is expected to decrease, making it a more viable and cost-effective option in the future.
Request Free Customization of this report to help us to meet your business objectives.
Global AHSS (Advanced High Strength Steel) Market Competitive Landscape
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
- ArcelorMittal
- Nippon Steel Corporation
- POSCO
- Tata Steel
- SSAB AB
- ThyssenKrupp AG
- Baoshan Iron & Steel Co., Ltd.
- AK Steel Holding Corporation
- United States Steel Corporation
- JFE Steel Corporation
- China Steel Corporation
- Kobe Steel, Ltd.
- Voestalpine AG
- Hyundai Steel Company
- Nucor Corporation
Advanced High Strength Steel Recent Developments
-
In June 2023, WorldAutoSteel and Nucor unveiled their plans for launching Steel E-Motive, its new vehicle concept for Mobility as a Service (MaaS). Steel E-Motive will make a big step forward in making autonomous ride-sharing and ride-hailing vehicles an affordable and sustainable reality – enabled by Advanced High-Strength Steel (AHSS) products and technologies, according to WorldAutoSteel.
-
In June 2022, Shape Corp. Was the first tier-one automotive supplier to market with fossil-free steel crash management and body structure systems under a new agreement with SSAB, a leading producer of advanced high strength steel (AHSS).
- In November 2021, SSAB AB announced the launch of a new AHSS product called Docol HE, which offers high strength and formability. Docol HE is designed to be used in the manufacturing of automotive structural parts.
Global AHSS (Advanced High Strength Steel) Key Market Trends
- The automotive industry is the primary end-user of AHSS, and the increasing demand for fuel-efficient and lightweight vehicles is driving the demand for AHSS. AHSS helps reduce the weight of vehicles without compromising on safety and durability.
- The growing demand for electric vehicles is driving the demand for AHSS. AHSS is used in the manufacturing of various components of electric vehicles, such as battery enclosures, structural frames, and chassis.
- The demand for AHSS is increasing in emerging economies such as China, India, and Brazil. The increasing demand from these economies is driving the growth of the global AHSS market.
Global AHSS (Advanced High Strength Steel) Market SkyQuest Analysis
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.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 12.78 billion |
| Market size value in 2031 | USD 28.69 billion |
| Growth Rate | 9.4% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| 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) |
| Companies covered |
|
| Customization scope | 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
Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global AHSS (Advanced High Strength Steel) Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global AHSS (Advanced High Strength Steel) Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
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.
Analyst Support
Customization Options
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.
Global AHSS (Advanced High Strength Steel) Market Report Snapshots
Want to customize this report?
Our industry expert will work with you to provide you with customized data in a short amount of time.
REQUEST FREE CUSTOMIZATION
USA (+1) 351-333-4748
