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Global Automotive AHSS Market Set to Grow at 6.5% CAGR from 2018-2028, Driven by Increasing Demand for Lightweight Vehicles and Stringent Emission Norms

05-20-2024 04:26 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Dataintelo

/ PR Agency: Dataintelo
Dataintelo

Dataintelo

Dataintelo predicts that the Global Automotive Advanced High Strength Steel (AHSS) Market size is anticipated to achieve a growth rate of 6.5% within the forecast span from ๐Ÿ๐ŸŽ๐Ÿ๐Ÿ– ๐ญ๐จ ๐Ÿ๐ŸŽ๐Ÿ๐Ÿ–. A significant reason for this ascension is the rising demand for vehicles that are lightweight, fuel-efficient and aligned to stringent emission norms, which in turn is elevating the need for AHSS in passenger as well as commercial vehicles.

AHSS is immensely beneficial in the automotive industry as it decreases vehicle weight substantially - by up to 20% - thus enhancing fuel efficiency and concurrently reducing emissions. Further, AHSS is being utilized extensively in the manufacturing of the vehicle chassis, suspension systems, and gears due to its exceptional toughness and resistance to wear and tear.

The report further points out to Dual-phase Steel, attributing it with the majority share in the global Automotive AHSS market during the forecast timeframe. The adoption of Dual-phase Steel is owed to its superior characteristics, such as high tensile strength and ductility. Martensitic steel, capable of withstanding higher temperatures while maintaining its structural integrity, is also expected to gain significant growth. Besides, Boron Steel, another segment of AHSS with extreme toughness, is proving an ideal choice for hard-wearing automotive applications.

Cementing its footing in the Automotive AHSS market, Boron steel is extensively used for mechanisms demanding extreme toughness. This type of AHSS proves to be resistant to wear and tear, making it a primary choice for components such as chassis, suspension systems, and gears.

Thus, the Automotive AHSS industry is at an exciting growth phase, spurred on by the increasing demand for lightweight and fuel-efficient vehicles and an evergrowing contrast to meet stringent emission norms. Market players and investors can harness this excellent growth opportunity and contribute innovatively to this future-proof industry

๐‘๐ž๐ช๐ฎ๐ž๐ฌ๐ญ ๐š ๐Ÿ๐ซ๐ž๐ž ๐ฌ๐š๐ฆ๐ฉ๐ฅ๐ž ๐ซ๐ž๐ฉ๐จ๐ซ๐ญ @ https://dataintelo.com/request-sample/250962

๐“๐ก๐ข๐ฌ ๐ข๐ฌ ๐จ๐ง๐ž ๐จ๐Ÿ ๐ญ๐ก๐ž ๐ฆ๐จ๐ฌ๐ญ ๐๐ž๐ญ๐š๐ข๐ฅ๐ž๐ ๐ซ๐ž๐ฉ๐จ๐ซ๐ญ ๐š๐ง๐ ๐œ๐จ๐ฏ๐ž๐ซ ๐ญ๐ก๐ž ๐Ÿ๐จ๐ฅ๐ฅ๐จ๐ฐ๐ข๐ง๐  ๐ฌ๐ž๐ ๐ฆ๐ž๐ง๐ญ๐ฌ:

The automotive advanced high strength steel ahss market has been segmented on the basis of๐๐ซ๐จ๐๐ฎ๐œ๐ญ ๐“๐ฒ๐ฉ๐ž
โ— Dual Phase Steel
โ— Martensitic Steel
โ— Boron Steel
โ— TRIP Steel
โ— Others

๐€๐ฉ๐ฉ๐ฅ๐ข๐œ๐š๐ญ๐ข๐จ๐ง
โ— Passenger Cars
โ— Commercial Vehicles

๐Œ๐š๐ง๐ฎ๐Ÿ๐š๐œ๐ญ๐ฎ๐ซ๐ข๐ง๐  ๐๐ซ๐จ๐œ๐ž๐ฌ๐ฌ
โ— Hot Rolled
โ— Cold Rolled

๐•๐ž๐ก๐ข๐œ๐ฅ๐ž ๐“๐ฒ๐ฉ๐ž
โ— Lightweight
โ— Heavyweight

๐„๐ง๐ ๐”๐ฌ๐ž๐ซ
โ— Original Equipment Manufacturers
โ— Aftermarket

๐‘๐ž๐ ๐ข๐จ๐ง
โ— Asia Pacific
โ— North America
โ— Latin America
โ— Europe
โ— Middle East & Africa

๐Š๐ž๐ฒ ๐๐ฅ๐š๐ฒ๐ž๐ซ๐ฌ
โ— Baoshan Iron & Steel Co. Ltd
โ— ArcelorMittal SA
โ— Tata Steel Limited
โ— Kobe Steel Ltd.
โ— POSCO
โ— SSAB AB
โ— ThyssenKrupp AG
โ— United Steel Corporation
โ— AK Steel Holding Corporation



๐’๐ž๐ ๐ฆ๐ž๐ง๐ญ ๐€๐ง๐š๐ฅ๐ฒ๐ฌ๐ข๐ฌ:

The automotive advanced high strength steel (AHSS) market can be broken down in various ways for thorough examination. One common method of segmentation includes the categorization by product type. The different types of advanced high strength steel used in the automotive industry include dual phase steel, martensitic steel, boron steel, TRIP steel, among others. Each type of AHSS presents different properties and benefits which make them more suitable for certain applications than others. The utilization of AHSS can also vary based on the application, such as in passenger cars or commercial vehicles. Another way to carve up the market is by the manufacturing process i.e., whether the steel is hot rolled or cold rolled. Furthermore, the market can be categorized by vehicle type includes lightweight or heavyweight vehicles. Similarly, the end-user of AHSS, whether they are original equipment manufacturers (OEMs) or belong to aftermarket, is another important segment in this market analysis.

๐‘๐ž๐ ๐ข๐จ๐ง๐š๐ฅ ๐€๐ง๐š๐ฅ๐ฒ๐ฌ๐ข๐ฌ:

The automotive advanced high strength steel (AHSS) market also has regional variations. The Asia Pacific region, for example, has seen a significant rise in demand due to increased automobile production and stringency in emission regulations. North America and Europe are mature markets for AHSS, but are expected to show stable growth, owing to technological advancements and regulatory standards for vehicle safety and emissions. The markets in Latin America, Middle East & Africa, on the other hand, are emerging and show promising potential due to the increasing demand for vehicles and rising consumer awareness about vehicle safety. Along with regional markets, the key players such as Baoshan Iron & Steel Co. Ltd, ArcelorMittal SA, Tata Steel Limited, Kobe Steel Ltd., POSCO, SSAB AB, ThyssenKrupp AG, United Steel Corporation, AK Steel Holding Corporation also play a critical role in shaping the global automotive AHSS market dynamics

๐‘๐ž๐ช๐ฎ๐ž๐ฌ๐ญ ๐š ๐Ÿ๐ซ๐ž๐ž ๐ฌ๐š๐ฆ๐ฉ๐ฅ๐ž ๐ซ๐ž๐ฉ๐จ๐ซ๐ญ @ https://dataintelo.com/request-sample/250962

๐Œ๐š๐ซ๐ค๐ž๐ญ ๐ƒ๐ซ๐ข๐ฏ๐ž๐ซ๐ฌ for Automotive Advanced High Strength Steel (AHSS) Market:

1. Greenhouse Gas Reduction: Governments globally are setting stricter emission norms to mitigate climate change. AHSS can reduce a vehicle's weight, improving fuel economy and reducing harmful emissions.

2. Safety Regulations: Increasing concern over passenger safety is encouraging automakers to use materials like AHSS, which offer excellent energy absorption properties and improved crash safety performance.

3. Technological Advancements: Innovations in manufacturing and processing technologies for AHSS, offering better formability and weldability, are driving market growth.

4. Cost-efficiency: Although other lightweight materials like aluminum and carbon-fiber composite offer further weight reduction, they are expensive. AHSS, on the other hand, provides a good balance between economy and performance, driving its adoption.

๐Ž๐ฉ๐ฉ๐จ๐ซ๐ญ๐ฎ๐ง๐ข๐ญ๐ข๐ž๐ฌ ๐Ÿ๐จ๐ซAutomotive Advanced High Strength Steel (AHSS) Market:

1. Electric Vehicles: The high energy density of batteries in electric cars necessitates a lightweight design. This scenario presents significant ๐Ž๐ฉ๐ฉ๐จ๐ซ๐ญ๐ฎ๐ง๐ข๐ญ๐ข๐ž๐ฌ ๐Ÿ๐จ๐ซthe AHSS market.

2. Growing Automotive Market: As developing nations continue to urbanize and industrialize, car ownership rates are rising. This growth presents a significant opportunity for AHSS suppliers.

3. New Applications: AHSS is finding new applications in the automotive sector. For instance, it is increasingly being used in electrical and electronic components, suspension systems, and chassis applications.

4. Recycling and sustainability: AHSS is fully recyclable, offering sustainability benefits. With automakers increasingly focused on sustainability, AHSS offers a unique selling point.

5. Research and Development: Continued improvements in AHSS grades and properties could enable further weight reduction and safety improvements, presenting growth ๐Ž๐ฉ๐ฉ๐จ๐ซ๐ญ๐ฎ๐ง๐ข๐ญ๐ข๐ž๐ฌ ๐Ÿ๐จ๐ซsuppliers

๐˜๐จ๐ฎ ๐œ๐š๐ง ๐๐ข๐ซ๐ž๐œ๐ญ๐ฅ๐ฒ ๐›๐ฎ๐ฒ ๐ญ๐ก๐ข๐ฌ ๐ซ๐ž๐ฉ๐จ๐ซ๐ญ ๐Ÿ๐ซ๐จ๐ฆ: https://dataintelo.com/checkout/250962

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๐‘๐ž๐ฉ๐จ๐ซ๐ญ ๐œ๐š๐ง ๐›๐ž ๐œ๐ฎ๐ฌ๐ญ๐จ๐ฆ๐ข๐ณ๐ž๐ ๐š๐ฌ ๐ฉ๐ž๐ซ ๐ฒ๐จ๐ฎ๐ซ ๐ง๐ž๐ž๐.

๐„๐ฆ๐š๐ข๐ฅ ๐ฎ๐ฌ ๐จ๐ง - ๐ฌ๐š๐ฅ๐ž๐ฌ@๐๐š๐ญ๐š๐ข๐ง๐ญ๐ž๐ฅ๐จ.๐œ๐จ๐ฆ

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๐ƒ๐š๐ญ๐š๐ข๐ง๐ญ๐ž๐ฅ๐จ boasts extensive experience in creating tailored Market research reports across diverse industry verticals. With in-depth Market analysis, creative business strategies for new entrants, and insights into the current Market scenario, our reports undergo intensive primary and secondary research, interviews, and consumer surveys.

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