Automotive Advanced High Strength Steel Market Trends, Growth, Revenue, Challenges and Opportunities
Global Automotive Advanced High Strength Steel Market Growth, Size, Trends Analysis - By Vehicle Type, By Product, By Application - Regional Outlook, Competitive Strategies and Segment Forecast to 2034
| Published: Mar-2025 | Report ID: CHEM2519 | Pages: 1 - 261 | Formats*: |
| Category : Chemical & Materials | |||
Automotive Advanced High Strength Steel Market Introduction and Overview
According to SPER Market Research, the Global Automotive Advanced High Strength Steel Market is estimated to reach USD 21.90 billion by 2034 with a CAGR of 6.61%.
The report includes an in-depth analysis of the Global Automotive Advanced High Strength Steel Market, including market size and trends, product mix, Applications, and supplier analysis.
Advanced high strength steel (AHSS) is widely used in the automobile sector because of its strong microstructures and high tensile strength. This new grade of steel is essential for vehicle safety, efficiency, manufacturability, durability, and quality, all at a lower cost. AHSS also helps lower harmful emissions by reducing vehicle weight, leading to less fuel consumption and better environmental safety.
By Vehicle Type, Insights: The passenger vehicle category had the largest revenue share of the global market in 2024. The growth of this segment is due to higher middle-class incomes and easier access to car loans, making it simpler for people to buy passenger vehicles. Manufacturers are focusing on producing lightweight vehicles to enhance performance, efficiency, and reduce emissions, while still ensuring safety and comfort. Increased investment in lightweight EVs is expected to boost the consumption of AHSS throughout the forecast period.
By Product Insights: The dual-phase (DP) segment had the largest revenue share in 2024. DP steels are lightweight and provide energy-absorbing performance for automotive structures and crash components. Their ductility allows use in parts with complex shapes, making them suitable for various automotive parts like bumpers, engine cradles, and rails. The transformation-induced plasticity (TRIP) segment is expected to grow significantly, as it offers a strong combination of strength and ductility, making it ideal for structural and reinforcement parts.
By Application Insights: In terms of application, body in white (BIW) held the largest revenue share in 2024. AHSS is used in constructing BIW structures, which support the vehicle and protect its drivers and passengers. These structures include large components like doors, bonnets, mudguards, and roofs, as well as high-quality class-A surfaces and assembly parts for the vehicle's visible exterior.
By Regional Insights: The top revenue-generating regions are North America, Asia-Pacific, Europe, and LAMEA. According to the forecast, Asia-Pacific is anticipated to continue to lead during the forecast period because of a higher CAGR than other regions. Over the course of the forecast period, the European automotive advanced high strength steel market is anticipated to grow at the fastest rate. The demand for AHSS in the area is anticipated to increase as a result of some governments providing alluring incentives to promote the adoption of electric vehicles. Europe's highest sales share was held by the German automotive advanced high strength steel market. The nation's demand for the commodity is being driven by the growing need for lightweight materials.
Market Competitive Landscape
The AHSS market is characterized by fierce rivalry and a high number of active competitors. To increase their market presence and obtain a competitive edge, the businesses are concentrating on mergers and acquisitions, strategic alliances, and product research and development. Some of the key market players are ArcelorMittal S.A, BAOSTEEL, Cleveland-Cliffs Inc, JSW Steel Limited, POSCO, SSAB, Tata Steel Limited, Thyssenkrupp AG, United States Steel Corporation, and voestalpine Stahl GmbH.
Recent Developments:
- In January 2022, By installing electric arc furnaces and rolling mills, SSAB declared that it will transform its factories in Lulea and Raahe (Sweden) into affordable small mills. A greater selection of SSAB's premium products, including AHSS and quenched and tempered steel (Q&T), are anticipated as a result of this initiative.
- In December 2022, Under the PLI Scheme of India, Jindal Steel declared that it would invest INR 73,930.0 million (USD 886.7 million) to build a new specialty steel manufacturing facility. It is anticipated that the new facility will manufacture cold-rolled, coated, and auto-GR steel AHSS products.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2021-2034 |
| Base year considered | 2024 |
| Forecast period | 2025-2034 |
| Segments covered | By Product, By Vehicle Type, By Application. |
| Regions covered | North America, Latin America, Asia-Pacific, Europe, and Middle East & Africa. |
| Companies Covered | ArcelorMittal S.A, BAOSTEEL, Cleveland-Cliffs Inc, JSW Steel Limited, POSCO, SSAB, Tata Steel Limited, Thyssenkrupp AG, United States Steel Corporation, voestalpine Stahl GmbH. |
Key Topics Covered in the Report
- Global Automotive Advanced High Strength Steel Market Size (FY’2021-FY’2034)
- Overview of Global Automotive Advanced High Strength Steel Market
- Segmentation of Global Automotive Advanced High Strength Steel Market By Product (DP, TRIW)
- Segmentation of Global Automotive Advanced High Strength Steel Market By Vehicle Type (PV, LCV, HCV)
- Segmentation of Global Automotive Advanced High Strength Steel Market By Application (Structural Assembly & Closures, Bumpers, Suspension)
- Statistical Snap of Global Automotive Advanced High Strength Steel Market
- Expansion Analysis of Global Automotive Advanced High Strength Steel Market
- Problems and Obstacles in Global Automotive Advanced High Strength Steel Market
- Competitive Landscape in the Global Automotive Advanced High Strength Steel Market
- Details on Current Investment in Global Automotive Advanced High Strength Steel Market
- Competitive Analysis of Global Automotive Advanced High Strength Steel Market
- Prominent Players in the Global Automotive Advanced High Strength Steel Market
- SWOT Analysis of Global Automotive Advanced High Strength Steel Market
- Global Automotive Advanced High Strength Steel Market Future Outlook and Projections (FY’2025-FY’2034)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data2.1.2. Primary Data2.1.3. SPERs internal database2.1.4. Premium insight from KOLs
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers4.1.2. Restraints4.1.3. Opportunities4.1.4. Challenges
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths5.1.2. Weaknesses5.1.3. Opportunities5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape5.2.2. Economic Landscape5.2.3. Social Landscape5.2.4. Technological Landscape5.2.5. Environmental Landscape5.2.6. Legal Landscape
5.3. PORTERs Five Forces
5.3.1. Bargaining power of suppliers5.3.2. Bargaining power of buyers5.3.3. Threat of Substitute5.3.4. Threat of new entrant5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Global Automotive Advanced High Strength Steel Market Manufacturing Base Distribution, Sales Area, Product Type6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global Automotive Advanced High Strength Steel Market
7. Global Automotive Advanced High Strength Steel Market, By Product 2021-2034 (USD Million)
7.1. DP7.2. TRIW
8. Global Automotive Advanced High Strength Steel Market, By Vehicle Type 2021-2034 (USD Million)
8.1. PV8.2. LCV8.3. HCV
9. Global Automotive Advanced High Strength Steel Market, By Application 2021-2034 (USD Million)
9.1. Structural Assembly & Closures9.2. Bumpers9.3. Suspension9.4. Others
10. Global Automotive Advanced High Strength Steel Market, 2021-2034 (USD Million)
10.1. Global Automotive Advanced High Strength Steel Market Size and Market Share
11. Global Automotive Advanced High Strength Steel Market, By Region, 2021-2034 (USD Million)
11.1. Asia-Pacific
11.1.1. Australia11.1.2. China11.1.3. India11.1.4. Japan11.1.5. South Korea11.1.6. Rest of Asia-Pacific
11.2. Europe
11.2.1. France11.2.2. Germany11.2.3. Italy11.2.4. Spain11.2.5. United Kingdom11.2.6. Rest of Europe
11.3. Middle East and Africa
11.3.1. Kingdom of Saudi Arabia11.3.2. United Arab Emirates11.3.3. Qatar11.3.4. South Africa11.3.5. Egypt11.3.6. Morocco11.3.7. Nigeria11.3.8. Rest of Middle-East and Africa
11.4. North America
11.4.1. Canada11.4.2. Mexico11.4.3. United States
11.5. Latin America
11.5.1. Argentina11.5.2. Brazil11.5.3. Rest of Latin America
12. Company Profile
12.1. Arcelor Mittal S.A
12.1.1. Company details12.1.2. Financial outlook12.1.3. Product summary12.1.4. Recent developments
12.2. BAOSTEEL
12.2.1. Company details12.2.2. Financial outlook12.2.3. Product summary12.2.4. Recent developments
12.3. Cleveland-Cliffs Inc
12.3.1. Company details12.3.2. Financial outlook12.3.3. Product summary12.3.4. Recent developments
12.4. JSW Steel Limited
12.4.1. Company details12.4.2. Financial outlook12.4.3. Product summary12.4.4. Recent developments
12.5. POSCO
12.5.1. Company details12.5.2. Financial outlook12.5.3. Product summary12.5.4. Recent developments
12.6. SSAB
12.6.1. Company details12.6.2. Financial outlook12.6.3. Product summary12.6.4. Recent developments
12.7. Tata Steel Limited
12.7.1. Company details12.7.2. Financial outlook12.7.3. Product summary12.7.4. Recent developments
12.8. Thyssenkrupp AG
12.8.1. Company details12.8.2. Financial outlook12.8.3. Product summary12.8.4. Recent developments
12.9. United States Steel Corporation
12.9.1. Company details12.9.2. Financial outlook12.9.3. Product summary12.9.4. Recent developments
12.10. Voestalpine Stahl GmbH
12.10.1. Company details12.10.2. Financial outlook12.10.3. Product summary12.10.4. Recent developments
12.11. Others
13. Conclusion
14. List of Abbreviations
15. Reference Links
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
Frequently Asked Questions About This Report
Automotive Advanced High Strength Steel Market is projected to reach USD 21.90 billion by 2034, growing at a CAGR of 6.61% during the forecast period.
Automotive Advanced High Strength Steel Market grew in Market size from 2025. The Market is expected to reach USD 21.90 billion by 2034, at a CAGR of 6.61% during the forecast period.
Automotive Advanced High Strength Steel Market CAGR of 6.61% during the forecast period.
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Automotive Advanced High Strength Steel Market size is USD 21.90 billion from 2025 to 2034.
Automotive Advanced High Strength Steel Market is covered By Product, By Function, By Application, By End-User.
The North America is anticipated to have the highest Market share in the Automotive Advanced High Strength Steel Market.
The key players in the Market include Companies Covered ArcelorMittal S.A, BAOSTEEL, Cleveland-Cliffs Inc, JSW Steel Limited, POSCO, SSAB, Tata Steel Limited, Thyssenkrupp AG, United States Steel Corporation, voestalpine Stahl GmbH.
Advanced high strength steel (AHSS) is widely used in the automobile sector because of its strong microstructures and high tensile strength. This new grade of steel is essential for vehicle safety, efficiency, manufacturability, durability, and quality, all at a lower cost.
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