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PUBLISHER: SkyQuest | PRODUCT CODE: 1463274

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PUBLISHER: SkyQuest | PRODUCT CODE: 1463274

Global AHSS Market Size, Share, Growth Analysis, By Product(Dual-phase AHSS, Transformation-induced plasticity AHSS), By Vehicle Type, By Application - Industry Forecast 2024-2031

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Global AHSS (Advanced High Strength Steel) Market size was valued at USD 12.78 billion in 2022 and is poised to grow from USD 13.98 billion in 2023 to USD 28.69 billion by 2031, growing at a CAGR of 9.4% during the forecast period (2024-2031).

Many reasons are driving the growth of the global Advanced High Strength Steel (AHSS) market, including the increased emphasis on safety in the automotive industry and the growing demand for lightweight, fuel-efficient automobiles. Automotive makers find AHSS to be an appealing material as it combines great strength and low weight, all while maintaining safety standards in their vehicles. Additionally, because AHSS is so malleable, producers may form it into intricate patterns and designs that can further reduce weight and increase fuel economy. The AHSS market is expanding not just in the automotive sector but also in the aerospace, defense, and construction industries. These sectors employ AHSS because of its great strength and endurance, which make it ideal for demanding applications and environments.

Top-down and bottom-up approaches were used to estimate and validate the size of the Global AHSS (Advanced High Strength Steel) Market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

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.

Drivers of the Global AHSS (Advanced High Strength Steel) Market

Automobile manufacturers under increasing pressure to decrease vehicle weight and enhance fuel efficiency in order to comply with stringent emission standards and tackle the mounting issue of climate change. Because of its high strength-to-weight ratio, which allows for weight reduction without sacrificing performance or safety, AHSS is a perfect material for lightweighting. Complex forms and structures can be designed with AHSS, further reducing weight and increasing fuel economy. The automobile industry's need for AHSS is predicted to be driven by consumers' increased need for lightweight, fuel-efficient vehicles.

Restraints in the Global AHSS (Advanced High Strength Steel) Market

Compared to conventional steel, the production procedure for the relatively new and sophisticated material AHSS is more intricate. The adoption of AHSS in different industries may be constrained by the greater cost of production, which is reflected in the final product's pricing. Additionally, end users' profitability may be impacted by the higher cost of AHSS, particularly in sectors with narrow profit margins. While AHSS has a number of benefits over conventional steel, its greater price may prevent it from being used in some situations. But the price of AHSS is anticipated to drop in response to the growing demand for high-strength, lightweight materials, making it a more practical and affordable choice in the long run.

Market Trends of the Global AHSS (Advanced High Strength Steel) Market

The main end-user of AHSS is the automotive sector, and the need for AHSS is being driven by the growing need for lightweight, fuel-efficient automobiles. Vehicle weight can be decreased with AHSS without sacrificing durability or safety.

Product Code: SQMIG15O2008

Table of Contents

Executive Summary

  • Market Overview
  • Wheel of Fortune

Research Methodology

  • Information Procurement
  • Secondary & Primary Data Sources
  • Market Size Estimation
  • Market Assumptions & Limitations

Parent Market Analysis

  • Market Overview
  • Market Size
  • Market Dynamics
    • Drivers
    • Opportunities
    • Restraints
    • Challenges

Key Market Insights

  • Technology Analysis
  • Pricing Analysis
  • Supply Chain Analysis
  • Value Chain Analysis
  • Ecosystem of the Market
  • IP Analysis
  • Trade Analysis
  • Startup Analysis
  • Raw Material Analysis
  • Innovation Matrix
  • Pipeline Product Analysis
  • Macroeconomic Indicators
  • Top Investment Analysis
  • Key Success Factor
  • Degree of Competition

Market Dynamics & Outlook

  • Market Dynamics
    • Drivers
    • Opportunities
    • Restraints
    • Challenges
  • Regulatory Landscape
  • Porters Analysis
    • Competitive rivalry
    • Threat of Substitute Products
    • Bargaining Power of Buyers
    • Threat of New Entrants
    • Bargaining Power of Suppliers
  • Skyquest Special Insights on Future Disruptions
    • Political Impact
    • Economic Impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Global AHSS (Advanced High Strength Steel) Market by Product

  • Market Overview
  • Dual-phase AHSS
  • Transformation-induced plasticity (TRIP) AHSS
  • and Complex-phase AHSS

Global AHSS (Advanced High Strength Steel) Market by Vehicle Type

  • Market Overview
  • Passenger Vehicle
  • Commercial Vehicle

Global AHSS (Advanced High Strength Steel) Market by Application

  • Market Overview
  • Structural Assembly & Closures
  • Bumpers
  • Suspension
  • and Others

Global AHSS (Advanced High Strength Steel) Market Size by Region

  • Market Overview
  • North America
    • USA
    • Canada
  • Europe
    • Germany
    • Spain
    • France
    • UK
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Rest of Asia-Pacific
  • Latin America
    • Brazil
    • Rest of Latin America
  • Middle East & Africa (MEA)
    • GCC Countries
    • South Africa
    • Rest of MEA

Competitive Landscape

  • Top 5 Player Comparison
  • Market Positioning of Key Players, 2021
  • Strategies Adopted by Key Market Players
  • Top Winning Strategies
    • By Development
    • By Company
    • By Year
  • Recent Activities in the Market
  • Key Companies Market Share (%), 2021

Key Company Profiles

  • ArcelorMittal
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • Nippon Steel Corporation
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • POSCO
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • Tata Steel
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • SSAB AB
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • ThyssenKrupp AG
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • Baoshan Iron & Steel Co., Ltd.
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • AK Steel Holding Corporation
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • United States Steel Corporation
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • JFE Steel Corporation
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • China Steel Corporation
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • Kobe Steel, Ltd.
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • Voestalpine AG
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • Hyundai Steel Company
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • Nucor Corporation
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
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Manager - Americas

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