Automotive AHSS Market to Hit USD 33.85 Billion by 2026, Driven by EV Boom and Lightweighting Trend

According to the report published by Allied Market Research, the global automotive advanced high strength steel (AHSS) market generated $12.80 billion in 2018, and is estimated to reach $33.85 billion by 2026, growing at a CAGR of 13.1% from 2019 to 2026. The report offers an extensive analysis of changing market dynamics, key winning strategies, business performance, major segments, and competitive scenario.

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Increasing demand for lightweight automotive components and rise in vehicle production across the globe drive the growth of the global automotive advanced high strength steel (AHSS) market. However, availability of alternative products in the market may hinder the market growth. On the other hand, rise in need to control CO2 emissions create new opportunities in the coming years.

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Based on product, the dual phase segment contributed to the largest share in 2018, accounting for nearly half of the total share, and is estimated to maintain its dominant position during the forecast period. In addition, the segment is anticipated to portray the highest CAGR of 13.8% throughout the forecast period. Moreover, the report also analyzes the complex phase segment, and will register the second-highest CAGR of 13.4% throughout the forecast period.

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Leading market players analyzed in the automotive AHSS market research include AK Steel Corporation, ArcelorMittal, Kobe Steel, Ltd., SSAB AB, United States Steel Corporation, thyssenkrupp AG, Baoshan Iron & Steel Company Limited, Nucor Corporation, Tata Steel Limited, and POSCO.

Based on application, the structural assembly and closures segment accounted for the largest share in 2018, holding more than one-third of the total share, and is expected to maintain the largest share throughout the forecast period. However, the bumpers segment is estimated to portray the highest CAGR of 14.4% during the forecast period.

Based on region, North America contributed the highest share, accounting for nearly two-fifths of the total market share in 2018, and will maintain its dominance throughout the forecast period. However, Asia-Pacific is expected to grow at the highest CAGR of 14.9% from 2019 to 2026.

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Key Benefits for Stakeholders:

This study includes the analytical depiction of the automotive advanced high strength steel (AHSS) market along with current trends and future estimations to determine the imminent investment pockets.
The overall automotive AHSS (advanced high strength steel) market opportunity is determined by understanding profitable trends to gain a stronger foothold.
The report presents information related to the key drivers, restraints, and opportunities of the market with a detailed impact analysis.
The current automotive advanced high strength steel (AHSS) market is quantitatively analyzed from 2018 to 2026 to benchmark the financial competency.
Porter's five forces analysis illustrates the potency of the buyers and suppliers in the industry.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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