The global automotive steel market size will reach $193.2 billion

Pune, India, Nov. 23, 2022 (GLOBE NEWSWIRE) — MarketStudyReport recently added the latest report, Global automotive steel marketwhich accrued $134,610 million in 2021, is expected to reach a valuation of $193,230.61 million by the end of 2028, as it progresses at a CAGR of 5.21% throughout the forecast period.

The report, which is a fascinating examination of the different sub-segments within the company, also discusses current and previous values ​​as well as growth potential for the analysis period.

The research closes with an interesting examination of the competitive landscape of the sector, focusing on profit margins, product or service offerings and the market position of each organization. This will make it easier for readers to understand how each of these elements influence the overall development trajectory of the industry.

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Growth factors and restrictions:

Growing focus on reducing the weight of automobiles, stringent emission regulations and increased investment in green infrastructure are the major factors promoting the growth of the global automotive steel market.

Additionally, significant technology upgrades in advanced high-strength steels coupled with safety regulations could unveil lucrative prospects for the industry during the forecast period.

Segmentation and regional overview:

In terms of type, the overall industry space was segregated into conventional HSS, low strength steel, and AHSS. Based on the application spectrum, commercial vehicles and passenger vehicles are the key domains of the industrial space

From a regional perspective, the North American market is expected to grow at a promising rate during the forecast period, thanks to the significant expansion of the electric vehicle industry in the region.

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Against this backdrop, the Europe region was estimated to account for a substantial share of overall market revenue during the assessment period, attributed to rising R&D budgets and rising premium auto exports to countries such as Germany, among the others.

Competitive Dashboard:

Moving on to the competitive landscape, Nucor Corporation, United States Steel Corporation, HBIS Group, Tata Steel Ltd., JFE Steel Corporation, Hyundai Steel Co. Ltd., Nippon Steel Corporation, Thyssenkrupp AG, POSCO, China Baowu Steel Group Corporation and ArcelorMittal SA, among others, they are the major players competing against each other to gain prominence in the global automotive steel market sphere.

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Global Automotive Steel Market, by Product Type (Value, USD Million, 2016-2028)

  • conventional HSS
  • Low strength steel
  • AHS extension

Global Automotive Steel Market, by Application (Value, USD Million, 2016-2028)

  • passenger vehicle
  • Commercial vehicle

Global Automotive Steel Market, by Region (Value, USD Million, 2016-2028)

North America

South America

  • Argentina
  • Brazil
  • Rest of South America

Europe

  • Russia
  • Italy
  • France
  • Spain
  • UK
  • Germany
  • Rest of Europe

Asia Pacific

  • Australia
  • India
  • China
  • Japan
  • New Zeland
  • Rest of Asia Pacific

Middle East and Africa

  • Turkey
  • Saudi Arabia
  • Africa
  • United Arab Emirates
  • Iran
  • Rest or MEA

Global Automotive Steel Market, Company Profiles (Value, USD Million, 2016-2028)

  • Nucor corporation
  • Steel Company of the United States
  • HBI Group
  • Tata Steel Ltd.
  • JFE Steel Corporation
  • Hyundai Steel Co. Ltd.
  • Nippon Steel Corporation
  • Thyssenkrupp AG
  • POSCO
  • China Baowu Steel Group Corporation
  • ArcelorMittal SA

Table of contents:

Chapter 1 introduction

1.1 Research objectives

1.2 Research methodology

1.3 Research Process

1.4 Scope and Coverage

1.4.1 Definition of the market

1.4.2 Answering key questions

1.5 Market segmentation

Chapter 2: Executive Summary

Chapter 3: Growth Opportunities by Segment

3.1 By Type

3.2 By application

Chapter 4: Market landscape

4.1 Analysis of Porter’s five forces

4.2 Industry value chain analysis

4.3 Market dynamics

4.3.1 Drivers

4.3.2 Restrictions

4.3.3 Opportunities

4.5.4 Challenges

4.4 Pestle analysis

4.5 Technology Roadmap

Chapter 5: Automotive Steel Market by Type

5.1 Automotive Steel Market Overview Snapshot and Growth Engine

5.2 Automotive Steel Market Overview

5.3 Low strength steel

5.3.1 Introduction and market overview

5.3.2 Historical and Projected Market Size (2016-2028F)

5.3.3 Key market trends, growth drivers and opportunities

5.3.4 Low strength steel: geographic segmentation

5.4 Conventional HSS

5.4.1 Introduction and market overview

5.4.2 Historical and Projected Market Size (2016-2028F)

5.4.3 Key market trends, growth drivers and opportunities

5.4.4 Conventional HSS: geographic segmentation

5.5 AHSS

Chapter 6: Automotive Steel Market by Application

Frequent questions:

1. What are the global automotive steel market size and projections for 2022-2028?

2. How the Global Automotive Steel Market Shaped During the Assessment Timeline by COVID-19 and its impeding factors?

3. What is the strategic competitive window for growth potential in the global Automotive Steel Market?

4. What are the key geographies that can impact the revenue of the global Automotive Steel market?

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