Asia-Pacific Automotive AHSS Market 2021-2026 skyrocketed revenue with key players ArcelorMittal SA, China Baowu Steel Group Corp, POSCO, Tata Steel Limited, SSAB AB, ThyssenKrupp AG

Latest research on Asia-Pacific Automotive AHSS Market report covers forecast and analysis on a worldwide, regional and country level. The study provides historical information of 2016-2021 together with a forecast from 2021 to 2026 supported by both volume and revenue (USD million). The entire study covers the key drivers and restraints for the Asia-Pacific Automotive AHSS market. This report included a special section on the Impact of COVID19. Also, Asia-Pacific Automotive AHSS Market (By major Key Players, By Types, By Applications, and Leading Regions) Segment’s outlook, Business assessment, Competition scenario and Trends. The report also gives 360-degree overview of the competitive landscape of the Asia-Pacific Automotive AHSS industry.

Asia-Pacific Automotive AHSS market is growing at a CAGR of 10.2% during the forecast period (2021-2026).

The Asia-Pacific Automotive AHSS market is highly competitive and consists of a number of major players. Top Companies like ArcelorMittal SA, China Baowu Steel Group Corp, POSCO, Tata Steel Limited, SSAB AB, ThyssenKrupp AG, United States Steel Corporation, AK Steel Holding Corporation, Kobe Steel Ltd, Baoshan Iron and Steel Co. Ltd

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Scope of the Report

The demand for reducing the weight to enhance vehicle performance and safety is growing in the world, and Asia-Pacific fastest growing market for AHSS Market. As a result, Advanced High Strength Steel (AHSS), which is a crucial material for mass vehicle reduction and, is the fastest-growing material in current automotive industry.

Steel makes up around 70 % of an average automobile’s weight. Compared to standard steel, AHSS enable to reduce vehicle weight by 23-35% which is around 165 to 250 kg, for a regular passenger car, saving 3 - 4.5 tons of greenhouse gases over the vehicle’s total life cycle. This saving in emissions is much more substantial than the CO2 emitted during the complete production of steel needed in a car.

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Key Market Trends

Advancement in AHSS Driving the Market

The steel composition involves 34% as the body structure, panels, doors, and trunk closures, giving it an energy absorption as well as high-strength and in case of a crash. 23% is the engine and machinable carbon steel for the wear-resistant gears. 12% is used in the suspension, using rolled high-strength steel and the remainder in the wheels, tires, fuel tank, steering, and braking systems.

To produce higher strength for reduced steel section size and weight, automakers use less material, significantly reducing a vehicle’s weight. The steel industry is focusing on developing different alloys for processing combinations, steel with high tensile strength and ductility, along with optimizes chemical compositions to achieve multiphase microstructures of AHSS.

Other advancements include the expanded capabilities to automotive steels that have high strength, which enable the design of thinner parts optimizing stiffness but maintaining geometries. AHSS such as Nano Steel helps deliver thinner gauges of steel and components to manufacture at room temperature.

China and India Are Expected to Witness the Fastest Growth in The Asia-Pacific Region

With the increase in the automotive industry, the lightweight market is experiencing a steady increase in the Chinese automotive industry. Although there is a rise in income levels and rapid growth in the manufacturing sector, yet there is a more increased awareness about fuel efficiency and environmental benefits. As a result, major players in this region offer highly competitive solutions that put other players in the other areas under pressure.

China recorded a 14% increase in car sales compared to 18 million units sold in 2018. In 2020, 35% of worldwide automotive is accounted for by Chinese growth. Operations shall resume after the Covid-19 pandemic with stainless steel strip and cold-rolled steel to see an increase in production from 10% to 13%.

What are the market factors that are explained in the report?

–Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.

–Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.

–Analytical Tools: Asia-Pacific Automotive AHSS Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, feasibility study, and investment return analysis have been used to analyzed the growth of the key players operating in the market. 

The research includes historic data from 2015 to 2020 and forecasts until 2026 which makes the reports an invaluable resource for industry executives, marketing, sales and product managers, consultants, analysts, and other people looking for key industry data in readily accessible documents with clearly presented tables and graphs.

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