According to a new market report published by
Lucintel, the future of the global automotive AHSS (advanced high strength
steel) market looks promising with opportunities in the passenger cars and
light commercial vehicles. The global automotive AHSS market is expected to
reach an estimated $32.3 billion by
2025 with a CAGR of 8.1% from 2020 to 2025. The major drivers for this market are
increasing vehicle production, reduction in fuel consumption, lower cost of
AHSS materials than other lightweight materials, and stringent government regulations
regarding CO2 emissions.
In this market, various types of advanced high
strength steel, such as dual phase steels, martensitic steels, boron steels, and
TRIP (Transformation induced plasticity) steels are used to manufacture various
automotive parts. On the basis of our comprehensive research, Lucintel
forecasts that dual phase steel will remain the largest segment. Dual phase
steel is most commonly used in the structural applications where it has
replaced the conventional high strength low alloy steel (HSLA). Dual phase
steel has good potential for part weight reduction. It possesses good crash
energy absorption and the ability to resist fatigue and improved formability.
Within this market, AHSS for passenger cars
will remain the largest end use segment and it is also expected to witness the highest
growth over the forecast period due to increasing production of small, compact,
and luxury cars and increasing penetration of AHSS material per car to reduce
the carbon emission and to increase fuel efficiency.
Europe will remain the largest region and it
is also expected to witness the highest growth over the forecast period due to the
increasing use of lightweight materials content per vehicle coupled with
stringent government regulations to reduce the carbon emission.
Emerging trends, which have a direct impact on
the dynamics of the industry, include the introduction of pre-oxidation for
galvanizing AHSS and the development of third generation AHSS. ArcelorMittal, ThyssenKrupp,
POSCO, SSAB AB, and AK Steel are the major AHSS suppliers in the global
automotive AHSS market.
Lucintel, a leading global strategic
consulting and market research firm, has analyzed growth opportunities in the
global automotive AHSS market by product type, vehicle type, application type
and region, and has compiled a comprehensive research report titled “Growth Opportunities
in the Global Automotive AHSS Market 2020-2025: Trends, Forecast, and
Opportunity Analysis”. The Lucintel report serves as a catalyst for
growth strategy, as it provides a comprehensive data and analysis on trends,
key drivers, and directions. The study includes a forecast for the growth
opportunities in the global automotive AHSS market by product type, vehicle
type, application type and region, as follows:
By Product Type [Volume (Million lbs) and $M
Shipment analysis from 2014 to 2025]:
- Dual Phase Steel
- Martensitic Steel
- Boron Steel
- TRIP Steel
- Others
By Vehicle Type [Volume (Million lbs) and $M
Shipment analysis from 2014 to 2025]:
- Passenger Cars
- Light Commercial Vehicle
By Application [Volume (Million lbs) and $M
Shipment analysis from 2014 to 2025]:
- Body and Closures
- Suspensions
- Bumper and Intrusion Beams
- Others
By Region [Volume (Million lbs) and $M Shipment analysis
from 2014 to 2025]:
·
North America
o
The US
o
Canada
o
Mexico
·
Europe
o
The United Kingdom
o
Russia
o
France
o
Germany
o
Spain
·
Asia Pacific
o
India
o
China
o
Japan
o
Indonesia
o
South Korea
·
Rest of the World
o
Brazil
o
Argentina
This
250-page research report will enable you to make confident business decisions
in this globally competitive marketplace. For a detailed table of contents,
contact Lucintel at +1-972-636-5056 or
helpdesk@lucintel.com. Lucintel offerings include Mass
Transportation, Transportation
Market Report, Opportunity
Screening and Analysis, Capital
Investment Feasibility and SWOT Analysis.
About
Lucintel
Lucintel,
the premier global management consulting and market research firm, creates
winning strategies for growth. It offers market assessments, competitive
analysis, opportunity analysis, growth consulting, M&A, and due diligence
services to executives and key decision-makers in a variety of industries. For
further information, visit www.lucintel.com.
This report answers
following 11 key questions:
Q. 1. What are some of the most promising,
high-growth opportunities for the automotive AHSS market by product type (Dual
phase steel, Martensitic Steel, Boron steel, TRIP and Others), vehicle type
(Passenger cars and Light commercial vehicle), application (Body and Closures,
Suspensions, Bumper and Intrusion Beams and Others) and region (North America,
Europe, Asia Pacific, and the Rest of the World)?
Q. 2. Which segments will grow at a faster pace
and why?
Q. 3. Which region will grow at a faster pace and
why?
Q.4. What are the key factors affecting market
dynamics? What are the drivers, challenges and business risks in this market?
Q.5.
What are the business risks and
competitive threats in this market?
Q.6. What are the emerging trends in this market
and reasons behind them?
Q.7. What are some of the changing demands of
customers in the market?
Q.8. What are the new developments in the market?
Which companies are leading these developments?
Q.9. Who are the major players in this market?
What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in
this market and how big of a threat do they
pose for loss of market share by materials / product substitution?
Q.11. What M&A activity has occurred in the last
5 years and what is its impact on the industry?
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