Press release
Automotive Steel Market to Reach USD 143 Billion by 2035 Driven by EV Production and Advanced High-Strength Steel Demand
Automotive Steel Market to Reach USD 143 Billion by 2035
The global automotive steel market experiences growth because modern vehicles require lightweight systems which possess high strength and advanced metal materials. The automotive industry uses dual-phase and multi-phase and third-generation steel systems because these materials help them decrease vehicle weight while achieving better fuel efficiency and complying with strict safety and crashworthiness requirements. The existing electrification trends create an increased need for special steel materials which manufacturers use to make EV battery enclosures and chassis reinforcements and all structural components that need both high strength and excellent formability.
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Major Key Players
• ArcelorMittal S.A.
• China Baowu Steel Group Corporation Limited
• POSCO (Pohang Iron and Steel Company)
• Nippon Steel Corporation
• Thyssenkrupp AG
• Tata Steel Limited
• JSW Steel Limited
• Hyundai Steel Company
• JFE Steel Corporation
• Nucor Corporation
• Voestalpine AG
• HBIS Group Co., Ltd.
• Kobe Steel, Ltd.
• Steel Authority of India Limited (SAIL)
• United States Steel Corporation
• Other Key Players
Latest Industry News & Market Trends
POSCO Expands Advanced Automotive Steel Production
Recently, POSCO expanded production of advanced high-strength automotive steel to support growing demand from electric vehicle and lightweight vehicle manufacturing applications. The company is focusing on improving material strength, crash safety, and energy-efficient steelmaking technologies while supporting automakers with sustainable automotive material solutions.
Rising Demand for Lightweight and High-Strength Materials Drives Automotive Steel Market
The global automotive industry is increasingly adopting advanced high-strength steel and lightweight metal solutions to improve fuel efficiency, vehicle safety, and electric vehicle performance. Automakers worldwide are investing in lightweight vehicle architectures and sustainable manufacturing practices, driving strong demand for next-generation automotive steel products with improved durability, recyclability, and reduced carbon emissions.
Electrification Driving Demand for Lightweight Automotive Steel
The growing transition toward electric mobility is significantly increasing demand for lightweight automotive steel solutions that improve battery efficiency, vehicle range, and structural safety. Automotive manufacturers are increasingly using AHSS and corrosion-resistant steel for EV chassis, closures, underbody structures, and battery protection systems.
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Regional Analysis of Global Automotive Steel Market
North America Emerging as High-Growth Market
North America is emerging as one of the fastest-growing regions in the Automotive Steel Market due to:
• Increasing electric vehicle production
• Rising demand for lightweight high-strength steel
• Domestic manufacturing expansion initiatives
• Automotive supply chain localization
• Investments in sustainable steelmaking technologies
The United States and Canada are witnessing increasing investments in advanced steel processing, electric arc furnace production, and automotive-grade galvanized steel manufacturing.
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Global Automotive Steel Market Segmentation
By Product Type
• Carbon Steel
• Alloy Steel
• Stainless Steel
• High-Strength Steel (HSS)
• Others
By Strength Type
• Low-Strength Steel
• Conventional High-Strength Steel (HSS)
• Advanced High-Strength Steel (AHSS)
• Ultra-High Strength Steel (UHSS)
By Grade Type
• Mild Steel
• High Strength Low Alloy (HSLA) Steel
• Dual Phase Steel
• Transformation-Induced Plasticity (TRIP) Steel
• Martensitic Steel
• Bake Hardenable Steel
• Others
By Manufacturing Process
• Basic Oxygen Furnace (BOF)
• Electric Arc Furnace (EAF)
• Hot Rolled Steel
• Cold Rolled Steel
• Others
By Coating Type
• Galvanized Steel
• Galvannealed Steel
• Electrogalvanized Steel
• Aluminized Steel
• Bare Steel
• Others
By Vehicle Type
Passenger Vehicles
• Hatchback
• Sedan
• SUVs
Commercial Vehicles
• Light Commercial Vehicles
• Heavy Duty Trucks
• Buses & Coaches
• Off-road Vehicles
By Propulsion Type
ICE Vehicles
• Gasoline
• Diesel
Electric Vehicles
• Hybrid Electric Vehicle (HEV)
• Plug-in Hybrid Electric Vehicle (PHEV)
• Battery Electric Vehicle (BEV)
By Application
• Body Structure
• Powertrain
• Suspension
• Closures (Doors, Hoods, Trunks)
• Bumpers
• Wheels & Rims
• Exhaust Systems
• Others
By Sales Channel
• OEM
• Aftermarket
Contact:
Mr. Debashish Roy
MarketGenics Global Research
800 N King Street, Suite 304 #4208, Wilmington, DE 19801, United States
USA: +1 (302) 303-2617
Email: sales@marketgenics.co
Website: https://marketgenics.co
About MarketGenics
MarketGenics is a global market research and business advisory firm empowering decision-makers across startups, Fortune 500 companies, non-profit organizations, universities, and government institutions. The company delivers comprehensive market intelligence, industry analysis, and strategic insights across diverse sectors.
MarketGenics publishes detailed industry research reports combining granular quantitative analysis with expert insights on market trends, competitive landscapes, and emerging opportunities. These reports help organizations make informed strategic decisions, identify growth opportunities, and support sustainable business development.
In addition to research publications, MarketGenics supports organizations with strategic insights on product development, application modeling, market expansion strategies, and identifying niche growth opportunities.
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