Overview and Scope
Automotive stainless steel refers to a corrosion- and heat-resistant alloy used in vehicle components, providing durability and aesthetics due to its high strength and polished finish, enhancing both performance and visual appeal in automobiles. It is used in the automotive industry to increase future performance, particularly in vehicle chassis, body, and suspension components.
Sizing and Forecast
The automotive stainless steel market size has grown strongly in recent years. It will grow from $119.59 billion in 2023 to $126.51 billion in 2024 at a compound annual growth rate (CAGR) of 5.8%. The growth in the historic period can be attributed to growing automotive production, emphasis on lightweight materials, rising consumer demand for quality, stringent emission standards, increased focus on safety..
The automotive stainless steel market size is expected to see steady growth in the next few years. It will grow to $153.72 billion in 2028 at a compound annual growth rate (CAGR) of 5.0%. The growth in the forecast period can be attributed to continued lightweighting trends, growing electric vehicle (ev) market, focus on sustainability, rising global urbanization, advancements in stainless steel grades.. Major trends in the forecast period include customization and specialty stainless steel alloys, application in autonomous and connected vehicles, focus on electric vehicle charging infrastructure, strategic alliances and collaborations in the supply chain, adoption in next-generation automotive materials..
Order your report now for swift delivery, visit the link:
https://www.thebusinessresearchcompany.com/report/automotive-stainless-steel-global-market-report
Segmentation & Regional Insights
The automotive stainless steel market covered in this report is segmented –
1) By Tube Type: Straight Tubes, U-Bends, Coiled Tubes
2) By Manufacturing Method: Seamless Tubes, Welded Tubes
3) By Vehicle Type: Passenger Cars, Commercial Vehicles
4) By Application: Exhaust Systems, Fuel And Break Lines, Heat Exchangers, Structural Components, Other Applications
5) By End-Use: Original Equipment Manufacturers (OEMs), Aftermarket
North America was the largest region in the automotive stainless-steel market in 2023. The regions covered in the automotive stainless steel market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Intrigued to explore the contents? Secure your hands-on a free sample copy of the report:
https://www.thebusinessresearchcompany.com/sample_request?id=13131&type=smp
Major Driver Impacting Market Growth
The adoption of electric vehicles is expected to propel the growth of the automotive stainless-steel market going forward. An electric vehicle is a vehicle that can be driven by an electric motor that draws energy from a battery and is charged externally. The automotive industry continues to evolve with advancements in electric and autonomous vehicles, which need durable and reliable materials like stainless steel that offer corrosion resistance, strength, and design flexibility. For instance, in June 2022, according to the Edison Electric Institute (EEI), a US-based association representing all investor-owned electric companies, the number of electric vehicles (EVs) on U.S. roads is projected to increase from 2.4 million in 2021 to 26.4 million by 2030. Further, electric vehicles’ annual sales are expected to reach about 5.6 million in 2030, accounting for around 32% of total light-duty yearly vehicle sales. Therefore, adopting electric vehicles will drive the growth of the automotive stainless-steel market.
Key Industry Players
Major companies operating in the automotive stainless steel market report are ArcelorMittal SA, Pohang Iron and Steel Co. Ltd. (POSCO), Nippon Steel Corporation, Tsinghan Holding Group, Baosteel Group, ThyssenKrupp AG, Nucor Corporation, JFE Steel Corporation, Cleveland Cliffs Inc., Salzgitter AG, Outokumpu Oyj, Sandvik AB, Acerinoc SA, Commercial Metals Company, Jindal Stainless Limited, Sanyo Special Steel Co. Ltd., Yieh Corporation, Aperam SA, British Steel Ltd., Tubacex S.A., Acciai Speciali Terni S.p.A., Centravis, Ta Chen International Inc., Plymouth Tube Company, Venus Wire Industries Pvt. Ltd., Crucible Industries LLC, Handytube Corporation, Bri-Steel Manufacturing. Ltd., The Fischer Group, Stanch Stainless Steel Co. Ltd.
The automotive stainless steel market report table of contents includes:
1. Executive Summary
2. Automotive Stainless Steel Market Characteristics
3. Automotive Stainless Steel Market Trends And Strategies
4. Automotive Stainless Steel Market – Macro Economic Scenario
5. Global Automotive Stainless Steel Market Size and Growth
.
.
.
31. Automotive Stainless Steel Market Other Major And Innovative Companies
32. Global Automotive Stainless Steel Market Competitive Benchmarking
33. Global Automotive Stainless Steel Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Automotive Stainless Steel Market
35. Automotive Stainless Steel Market Future Outlook and Potential Analysis
36.Appendix
Explore the trending research reports from TBRC:
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: [email protected]
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
