Automotive Steel Global Market Report 2026

Automotive steel encompasses various steel types used in manufacturing vehicle components. Obtained from raw materials such as iron ore and coal, it undergoes a process in blast furnaces to form molten iron. This iron is then refined and alloyed with other elements to produce different grades of steel.

The primary categories of automotive steel include mild steel, alloy steel, high-strength steel, and advanced high-strength steel. Mild steel, featuring low carbon content, is easily malleable and finds applications in construction, automotive manufacturing, and general engineering. Produced through basic oxygen furnace (BOF) and electric arc furnace (EAF) processes, mild steel serves various purposes in body structures, power trains, suspensions, and other components across passenger vehicles, light commercial vehicles, and heavy commercial vehicles.

Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report's Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.

Tariffs on imported steel have affected the automotive steel market by increasing raw material costs for manufacturers, particularly impacting body structure, powertrain, and suspension components. Asia-Pacific regions, including China and India, which are major exporters, are most affected. While the tariffs have increased production costs, they have also encouraged domestic steel production and promoted local sourcing of high-quality automotive steel, enabling manufacturers to invest in advanced steel technologies.

The automotive steel market research report is one of a series of new reports from The Business Research Company that provides automotive steel market statistics, including automotive steel industry global market size, regional shares, competitors with a automotive steel market share, detailed automotive steel market segments, market trends and opportunities, and any further data you may need to thrive in the automotive steel industry. This automotive steel market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The automotive steel market size has grown strongly in recent years. It will grow from $118.7 billion in 2025 to $125.16 billion in 2026 at a compound annual growth rate (CAGR) of 5.4%. The growth in the historic period can be attributed to growth in global automotive production, increasing use of steel in vehicle manufacturing, demand for durable and high-performance steel components, advancements in basic oxygen and electric arc furnace processes, expansion of passenger and commercial vehicle markets.

The automotive steel market size is expected to see strong growth in the next few years. It will grow to $152.8 billion in 2030 at a compound annual growth rate (CAGR) of 5.1%. The growth in the forecast period can be attributed to shift towards electric and hybrid vehicles, growing demand for lightweight and advanced high-strength steel, increasing use of dual-phase and trip steel for safety, adoption of corrosion-resistant and coated steel technologies, expansion of automotive manufacturing in asia-pacific. Major trends in the forecast period include increasing use of high-strength steel (hss) and advanced high-strength steel (ahss), growing demand for lightweight steel components, expansion of alloy steel applications in powertrain and suspension, rising adoption of dual-phase and trip steel in vehicle body structures, increasing focus on corrosion-resistant and coated steel.

The increasing demand for automobiles is expected to drive the growth of the automotive steel market in the coming years. Automobiles are self-propelled vehicles designed to transport passengers or cargo on roadways. Automotive steel is widely used in vehicle manufacturing as it helps reduce overall vehicle weight, improve fuel efficiency, lower emissions, and enhance durability. For example, in March 2025, the European Automobile Manufacturers Association, a Belgium-based trade organization, reported that in 2024, global car sales reached 74.6 million units, a 2.5% increase compared to 2023. The EU car market grew by 0.8% in 2024, with total sales reaching 10.6 million units, while car sales in North America remained strong, recording a 3.8% growth. As a result, the rising demand for automobiles is contributing to the growth of the automotive steel market.

Companies operating in the automotive steel market are increasingly emphasizing strategic partnerships and collaborations to enhance their financial strength, fortify their product portfolios, and broaden their geographical reach. This strategic approach involves leveraging the strengths and resources of each partner to achieve mutual benefits and success. A notable example is the collaboration announced in June 2023 between Outokumpu, a Finland-based stainless steel manufacturer, Thyssenkrupp Materials Processing Europe, a Germany-based steel processing company, and Boysen Group, a Germany-based exhaust system manufacturer. This collaboration aims to introduce the world's first towards-zero stainless steel to the automotive industry, specifically Outokumpu's Circle Green product. The partnership, set to supply larger quantities of Circle Green to the automotive industry starting in the second half of 2023, marks a significant milestone in promoting a low-emission automotive industry. The collaboration encompasses material supply, processing, and just-in-time delivery, contributing to more sustainable supply chains in the automotive sector and setting a global precedent for low emissions throughout the production chain.

In August 2023, Kloeckner Metals Corporation (KMC), a US-based producer and distributor of steel and metal products, acquired National Material of Mexico (NMM) for an undisclosed amount. This acquisition positions KMC to significantly expand its presence in Mexico, particularly in regions where key automotive and industrial customers are concentrated. National Material of Mexico (NMM), an independent service center and materials supplier based in Mexico, offers a range of products, including automotive steel, serving the automotive and industrial sectors. The acquisition aligns with KMC's growth strategy and enhances its capabilities to cater to the needs of automotive and industrial customers in the Mexican market.

Major companies operating in the automotive steel market report are ArcelorMittal SA, Tata Iron and Steel Company Limited, Hyundai Steel Co. Ltd., United States Steel Corp., JSW Steel Ltd., Pohang Iron and Steel Company, Nippon Steel Corporation, JFE Steel Corporation, Nucor Corporation, Thyssenkrupp Steel Europe AG, China Baowu Steel Group Corp. Ltd., Hesteel Group Company Limited, Kobe Steel Ltd., Jindal Steel and Power Limited, Baosteel Group Corporation, China Steel Corporation, Gerdau S.A., AK Steel Holding Corporation, Steel Authority of India Limited, Wuhan Iron and Steel Corporation, Maanshan Iron & Steel Company Limited, Shougang Corporation, Ansteel Group Corporation Limited, HBIS Group Co. Ltd., Shandong Iron and Steel Group Co. Ltd., Jiangsu Shagang Group Co. Ltd., Valin Holdings Group Co. Ltd., Benxi Steel Group Corporation Limited, Essar Gujarat Limited

Asia-Pacific was the largest region in the automotive steel market in 2025. The regions covered in the automotive steel market are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the automotive steel market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The automotive steel market consists of sale of wheel rims, exhaust pipes, bushings, bearings, exhaust systems, radiators, and automobile frames. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Automotive Steel Market Global Report 2026 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses automotive steel market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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Where is the largest and fastest growing market for automotive steel ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward, including technological disruption, regulatory shifts, and changing consumer preferences? The automotive steel market global report from the Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, total addressable market (TAM), market attractiveness score (MAS), competitive landscape, market shares, company scoring matrix, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

• The market characteristics section of the report defines and explains the market. This section also examines key products and services offered in the market, evaluates brand-level differentiation, compares product features, and highlights major innovation and product development trends.
• The supply chain analysis section provides an overview of the entire value chain, including key raw materials, resources, and supplier analysis. It also provides a list competitor at each level of the supply chain.
• The updated trends and strategies section analyses the shape of the market as it evolves and highlights emerging technology trends such as digital transformation, automation, sustainability initiatives, and AI-driven innovation. It suggests how companies can leverage these advancements to strengthen their market position and achieve competitive differentiation.
• The regulatory and investment landscape section provides an overview of the key regulatory frameworks, regularity bodies, associations, and government policies influencing the market. It also examines major investment flows, incentives, and funding trends shaping industry growth and innovation.
• The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
• The forecasts are made after considering the major factors currently impacting the market. These include the technological advancements such as AI and automation, Russia-Ukraine war, trade tariffs (government-imposed import/export duties), elevated inflation and interest rates.
• The total addressable market (TAM) analysis section defines and estimates the market potential compares it with the current market size, and provides strategic insights and growth opportunities based on this evaluation.
• The market attractiveness scoring section evaluates the market based on a quantitative scoring framework that considers growth potential, competitive dynamics, strategic fit, and risk profile. It also provides interpretive insights and strategic implications for decision-makers.
• Market segmentations break down the market into sub markets.
• The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth.
• Expanded geographical coverage includes Taiwan and Southeast Asia, reflecting recent supply chain realignments and manufacturing shifts in the region. This section analyzes how these markets are becoming increasingly important hubs in the global value chain.
• The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
• The company scoring matrix section evaluates and ranks leading companies based on a multi-parameter framework that includes market share or revenues, product innovation, and brand recognition.

Scope

• Markets Covered:1) By Component: Mild Steel; Alloy Steel; High Strength Steel; Advanced High Strength
• 2) By Process: Basic Oxygen Furnace (BOF); Electric Arc Furnace (EAF)
• 3) By Application: Body Structure; Power Train; Suspension; Other Applications
• 4) By Vehicle Type: Passenger Vehicles; Light Commercial Vehicles; Heavy Commercial Vehicles
• Subsegments:
• 1) By Mild Steel: Low Carbon Mild Steel; Medium Carbon Mild Steel
• 2) By Alloy Steel: Low Alloy Steel; High Alloy Steel
• 3) By High Strength Steel: High Strength Low Alloy (HSLA) Steel; Dual Phase Steel
• 4) By Advanced High Strength: Transformation-Induced Plasticity (TRIP) Steel; Martensitic Steel; Complex Phase Steel
• Companies Mentioned: ArcelorMittal SA; Tata Iron and Steel Company Limited; Hyundai Steel Co. Ltd.; United States Steel Corp.; JSW Steel Ltd.; Pohang Iron and Steel Company; Nippon Steel Corporation; JFE Steel Corporation; Nucor Corporation; Thyssenkrupp Steel Europe AG; China Baowu Steel Group Corp. Ltd.; Hesteel Group Company Limited; Kobe Steel Ltd.; Jindal Steel and Power Limited; Baosteel Group Corporation; China Steel Corporation; Gerdau S.A.; AK Steel Holding Corporation; Steel Authority of India Limited; Wuhan Iron and Steel Corporation; Maanshan Iron & Steel Company Limited; Shougang Corporation; Ansteel Group Corporation Limited; HBIS Group Co. Ltd.; Shandong Iron and Steel Group Co. Ltd.; Jiangsu Shagang Group Co. Ltd.; Valin Holdings Group Co. Ltd.; Benxi Steel Group Corporation Limited; Essar Gujarat Limited
• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Taiwan; Russia; South Korea; UK; USA; Canada; Italy; Spain.
• Regions: Asia-Pacific; South East Asia; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
• Time Series: Five years historic and ten years forecast.
• Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
• Data Segmentations: country and regional historic and forecast data, market share of competitors, market segments.
• Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
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