9.8% CAGR growth by 2023 in Automotive AHSS Market| Dominant Vendors - Arcelor Mittal SA, ThyssenKrupp AG, POSCO, Tata Steel Limited, SSAB AB, United Steel Corporation, AK Steel Holding Corporation, Kobe Steel Ltd., amongst others.

Market Analysis:

AHSS offers an opportunity for the automotive industry to reduce vehicular emissions when the entire product life cycle is considered. When life cycle assessment of emissions is carried out, the use of Advanced High Strength Steel (AHSS) for automotive manufacturing will have the lowest emission rate compared to the emissions generated by the existing ways of production.

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The necessity of the automakers to balance performance, safety, fuel efficiency, affordability, and at the same time, reducing emissions to meet the requirements of stringent regulations, worldwide, are the factors that are expected to drive the automotive AHSS market. The major factor that is driving automakers toward adopting AHSS is that the existing infrastructure can be utilized for producing lightweight vehicles without the need for switching to other materials, which is expected to increase the cost and time. Dual-phase steel is the most widely used variety of AHSS by the automotive industry, as it has an excellent strength-ductility balance, which enables it to endure a high amount of strain energy, hence, it is the most preferred material to build the outer body of an automobile.

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Market Segments:
Automotive AHSS Market is segmented by:
1. Vehicle Type: Passenger Vehicles, Light Commercial Vehicles
2. Geography: North America, South America, Europe, Asia Pacific, Middle East & Africa

Recent Developments:
October 2017: World Auto Steel, an association of key players in the steel industry, was set to inform decision-makers in October 2017 about the benefits of life cycle assessment to measure the environmental impact of automobiles

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