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 @
https://www.thebusinessresearchcompany.com/report/automotive-stainless-steel-global-market-report
Scope Of Automotive Stainless Steel Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Automotive Stainless Steel Market Overview
Market Drivers –
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.
Market Trends –
Major companies operating in the automotive stainless-steel market are concentrating on creating innovative stainless steel, such as green stainless steel, to reduce environmental carbon footprints and gain a positive image in the market. Green stainless steel for automotive applications indicates that the raw materials utilized in producing stainless steel are responsibly sourced with a focus on environmental considerations. For instance, in September 2022, Outokumpu Oyj, a US-based stainless-steel producer, launched Circle Green. This sustainable stainless-steel line boasts a carbon dioxide footprint 92% lower than the industry average and 64% lower than their standard stainless-steel production. This achievement is attributed to the use of bio-based materials such as biogas, biodiesel, and bio-coke alongside electricity sourced from low-carbon outlets. This innovation aligns with the demand for eco-friendly and durable products, contributing to a more sustainable future. The production was executed at an industrial scale, marking a significant step towards Outokumpu’s sustainability objectives.
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
Get an inside scoop of the automotive stainless steel market, Request now for Sample Report @
https://www.thebusinessresearchcompany.com/sample.aspx?id=13131&type=smp
Regional Insights –
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
Key Companies –
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.
Table of Contents
1. Executive Summary
2. Automotive Stainless Steel Market Report Structure
3. Automotive Stainless Steel Market Trends And Strategies
4. Automotive Stainless Steel Market – Macro Economic Scenario
5. Automotive Stainless Steel Market Size And Growth
…..
27. Automotive Stainless Steel Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
Read Related Topics:
https://goodprnews.com/steel-structure-market-size/
https://goodprnews.com/tubular-external-fixation-system-market-size/
https://goodprnews.com/virtual-intensive-care-unit-icu-market-size/
https://topprnews.com/steel-structure-market-share/
https://topprnews.com/tubular-external-fixation-system-market-share/
https://topprnews.com/virtual-intensive-care-unit-icu-market-share/
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
