Automotive Steel Market Overview
The Automotive Steel Market Report provides a detailed analysis of strategies, micro and macro market trends and scenarios, pricing analysis, and short-term market circumstances. It also includes future trends that are expected to drive the development of the Automotive Steel market. The analysis of dynamics and the Automotive Steel market size has been provided at local, regional and global levels.
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Automotive Steel Market Report Scope and Research Methodology
The report outlines the present and historical growth patterns of the Automotive Steel market, along with the state of the market CAGR, market size, forecast and revenue share, and trends price. The Automotive Steel market report includes prevailing opportunities, industry-specific challenges, and technical advancements that help key players increase revenue and growth. The report includes the competitive landscape along with future technical and financial details of the Automotive Steel industry. Company profiles, capacity, manufacturing, price, cost, revenue and statistics are also included in the Automotive Steel market report. SWOT analysis was used to provide strengths and weaknesses of the Automotive Steel key players in the industry. The bottom-up approach has been used to estimate the Automotive Steel market size. The Automotive Steel market report is a combination of both primary and secondary data collected from extensive research.
Automotive Steel Market Regional Insights
The Automotive Steel market study includes company profiles from various regions, as well as information on their business strategies and statistics. The regions are North America, Europe, Asia Pacific, Middle East and Africa and South America.
Market Dynamics: With the full impact of the cumulative increases anticipated in the third and fourth quarters of this fiscal year, raw material prices in India are becoming more stiff. Steel, aluminium, copper, and rubber are the main materials utilised in the automobile industry. Steel prices have climbed by 30%, aluminium by 40%, and copper by 77% during the last six months. However, the cost of the major raw materials grew by 9% between August and October 2020, with the price of steel and iron rising the most.
Market Segmentation:
by Vehicle Type
Passenger Vehicles
Light Commercial Vehicles
Heavy Commercial Vehicles
The Automotive Steel Market is divided into three categories based on the kind of vehicle: Passenger, Light Commercial, and Heavy Commercial. It is anticipated that the Asia Pacific region will see an increase in the sales of passenger cars, which will benefit the industry. In 2020, automotive manufacturing increased overall in India, Thailand, Indonesia, and Malaysia by 2.6%, 7.2%, 7.5%, and 13.7%, respectively, according to OICA statistics.
The market is dominated by passenger cars during the forecasted period. In a typical passenger car, 15 to 22 kilogrammes of stainless steel are used. Although it is also found in numerous smaller sizes, stainless is most frequently seen in exhaust systems. Since commuter and long-distance trains have been constructed of stainless steel. Modern high-speed trains are amazing, like the US’s X2000 or Sweden’s X2000.
by Application
Body structure
Power train
Suspension
Others
The Automotive Steel Market is divided into four categories based on Application: Body Structure, Power Train, Suspension, and Others. In 2022, body structure had the biggest market share. The main considerations in choosing a material, especially for the body, cover a wide variety of characteristics, such as robustness, production efficiency, and mechanical, chemical, or heat resistance. Steel is the product of choice for manufacturers since it possesses all necessary characteristics.
The steel industry has made breakthroughs that have made steel stronger, lighter, and more rigid than it ever was. Several automotive parts, including the engine, chassis, wheels, and bodywork, are made of steel. Low-cost materials like iron and steel produce the crucial structural components needed for the mass production of automobiles.
by Product
Transformation induced plasticity (TRIP) steel
Dual phase steel
Complex phase (CP)
Others
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Automotive Steel Market Key Players:
1. JSW Steel (India)
2. Steel Authority of India Limited (India)
3. Tata steel (India)
4. Nippon Steel Corporation (Japan)
5. JFE Holdings, Inc. (Japan)
6. POSCO (South Korea)
7. Hyundai Steel Co., Ltd (South Korea)
8. China Baowu Steel Group Corp., Ltd. (China)
9. Ansteel Group Corporation Limited (China)
10. Hesteel Group (China)
11. Jiangsu Shagang Group (China)
12. Jianlong Steel (China)
13. Hunan Valin Steel (China)
14. Fangda Steel (China)
15. Tsingshan Holding (China)
16. CITIC Group (Hong Kong)
17. Novolipetsk Steel (Russia)
18. ArcelorMittal S.A. (Luxembourg)
19. ThyssenKrupp AG (Germany)
20. United States Steel Corporation (US)
21. Nucor Corporation (US)
22. Steel Dynamics, Inc. (US)
23. Techint Group (Argentina)
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Key questions answered in the Automotive Relay Market are:
- What is Automotive Steel?
- What is the expected CAGR of the Automotive Steel market during the forecast period?
- What are the global and regional trends in the Automotive Steel Market?
- What are the major challenges that the Automotive Steel Market could face in the future?
- How is the intervention from regulatory authority is shaping the Automotive Steel Market?
- What growth strategies are the players considering to increase their presence in Automotive Relay Market?
- Who held the largest market share in Automotive Steel Market?
Key Offerings:
- Market Share, Size & Forecast by Revenue | 2023−2029
- Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Key Trends
- Market Segmentation – A detailed analysis of segments and sub-segments
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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