Global AHSS (Advanced High Strength Steel) Market

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

AHSS (Advanced High Strength Steel) Market News

  • 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.
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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 competitive landscape of the 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. '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'

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.

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.

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.

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Global AHSS (Advanced High Strength Steel) Market

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