Automotive Steel Demand Surges with EV Growth - Market Outlook 2025 | Top key players- POSCO, Tata Steel, HYUNDAI Steel Company, JFE Steel Corporation, Nucor Corporation and U.S. Steel Corporation.

Automotive Steel Market reached US$ 111.8 billion in 2023 and is expected to reach US$ 161.4 billion by 2031, growing with a CAGR of 4.7% during the forecast period 2024-2031. The Automotive Steel Market is growing at a CAGR of 4.7% during 2024-2031 due to the rising demand for lightweight, fuel-efficient vehicles, which is pushing manufacturers to adopt advanced high-strength steel (AHSS). Additionally, increasing vehicle production, stricter emission regulations, and growing investments in electric vehicle (EV) infrastructure are driving the need for durable and sustainable steel solutions in automotive design and manufacturing.

Automotive Steel Market report, published by DataM Intelligence, provides in-depth insights and analysis on key market trends, growth opportunities, and emerging challenges. Committed to delivering actionable intelligence, DataM Intelligence empowers businesses to make informed decisions and stay ahead of the competition. Through a combination of qualitative and quantitative research methods, it offers comprehensive reports that help clients navigate complex market landscapes, drive strategic growth, and seize new opportunities in an ever-evolving global market.

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The Automotive Steel Market involves the production, processing, and application of various steel types in vehicle manufacturing. It includes high-strength, mild, and advanced high-strength steels used for structural, safety, and aesthetic components. Steel offers strength, durability, crash resistance, and cost-effectiveness, supporting lightweight vehicle designs and fuel efficiency. Demand is driven by EV growth, regulatory safety norms, and sustainability goals. The market serves OEMs, aftermarket players, and Tier 1 suppliers globally across passenger, commercial, and electric vehicle segments.

List of the Key Players in the Automotive Steel Market: ArcelorMittal, Nippon Steel & Sumitomo Metal Corporation (NSSMC), HBIS GROUP, Baosteel, POSCO, Tata Steel, HYUNDAI Steel Company, JFE Steel Corporation, Nucor Corporation and U.S. Steel Corporation.

Industry Development in USA:

In 2025, major U.S. steel manufacturers significantly expanded their advanced high-strength steel (AHSS) production capacities to meet the rising demand from electric vehicle (EV) makers. This move aimed to support lightweight vehicle structures and comply with evolving fuel efficiency and safety regulations.

In 2024, leading automotive OEMs in the U.S. signed long-term supply agreements with domestic steel producers. These contracts focused on sourcing sustainable and recyclable steel grades to align with their carbon neutrality goals and ensure stable raw material supply amidst global market fluctuations.

Growth Forecast Projected:

The Global Automotive Steel Market is anticipated to rise at a considerable rate during the forecast period, between 2024 and 2031. In 2023, the market is growing at a steady rate, and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon.

Research Process:

Both primary and secondary data sources have been used in the global Automotive Steel Market research report. During the research process, a wide range of industry-affecting factors are examined, including governmental regulations, market conditions, competitive levels, historical data, market situation, technological advancements, upcoming developments, in related businesses, as well as market volatility, prospects, potential barriers, and challenges.

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Segment Covered in the Automotive Steel Market:

By Type: Low-Strength Steels, High Strength Steel (HSS), Advanced High Strength Steel (AHSS), Others.

By Vehicle: Passenger Vehicles, Commercial Vehicles, Others.

By Application: Structural Assembly & Closures, Bumpers, Suspension, Rims, Others.

Regional Analysis for Automotive Steel Market:

The regional analysis of the Automotive Steel Market covers key regions including North America, Europe, Asia Pacific Middle East and Africa and South America. The North America with a focus on the U.S., Canada, and Mexico; Europe, highlighting major countries like the U.K., Germany, France, and Italy, along with other nations in the region; Asia-Pacific, covering India, China, Japan, South Korea, and Australia, among others; South America, with emphasis on Colombia, Brazil, and Argentina; and the Middle East & Africa, which includes Saudi Arabia, the U.A.E., South Africa, and other countries. This comprehensive regional breakdown helps identify unique market trends and growth opportunities specific to each area.

⇥ North America (U.S., Canada, Mexico)

⇥ Europe (U.K., Italy, Germany, Russia, France, Spain, The Netherlands and Rest of Europe)

⇥ Asia-Pacific (India, Japan, China, South Korea, Australia, Indonesia Rest of Asia Pacific)

⇥ South America (Colombia, Brazil, Argentina, Rest of South America)

⇥ Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)

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Benefits of the Report:

➡ A descriptive analysis of demand-supply gap, market size estimation, SWOT analysis, PESTEL Analysis and forecast in the global market.

➡ Top-down and bottom-up approach for regional analysis

➡ Porter's five forces model gives an in-depth analysis of buyers and suppliers, threats of new entrants & substitutes and competition amongst the key market players.

➡ By understanding the value chain analysis, the stakeholders can get a clear and detailed picture of this Market

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People Also Ask:

➠ What is the global sales, production, consumption, import, and export value of the Automotive Steel market?

➠ Who are the leading manufacturers in the global Automotive Steel industry? What is their operational status in terms of capacity, production, sales, pricing, costs, gross margin, and revenue?

➠ What opportunities and challenges do vendors in the global Automotive Steel industry face?

➠ Which applications, end-users, or product types are expected to see growth? What is the market share for each type and application?

➠ What are the key factors and limitations affecting the growth of the Automotive Steel market?

➠ What are the various sales, marketing, and distribution channels in the global industry?

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