Acumen Research and Consulting estimated that global Automotive AHSS market is expected to reach the market value of around US$ 35 Bn by 2027 and is anticipated to grow at a CAGR of around 13% in terms of revenue during the forecast period 2020 – 2027.
Advanced high-performance steel is specific steel which, due to its microstructures and its high tensile resistance, is widely applied to the automotive industry. This is an extremely durable modern type of steel and is commonly used in the automotive sector. The implementation of AHSS allows manufacturers and engineers to guarantee total vehicle health, production consistency, productivity, long life and durability at dramatically reduced cost in the automotive industry.
The report provides analysis of global AHSS market for the period 2016-2027, wherein 2020 to 2027 is the forecast period and 2019 is considered as the base year.
The AHSS automobile industry is expected to grow as car production increases, government emission and safety requirements improve and the AHSS prices are smaller than those of other lightweight products that are competitive on the industry. In addition, increasing demand for cars and increasing technical advancements inside and out of cars increase road health, safety and convenience, which in turn driving the target market. The automobile AHSS industry is growing as the focus is on increasing safety, fuel efficiency and protection by rising manufacturing costs for OEMs and other vehicle parts manufacturers. New developments in the employment of light-weight aluminum alloy components for automobiles and even the use of carbon-fiber composite components are main constraints on the AHSS automotive industry.
Asia Pacific held major market share in 2019 owing to strong car demand. Automotive manufacturing industry growth is pushing the AHSS demand in emerging economies such as China and India. Automobile AHSS is also powered by an area that is internationally efficient automotive manufacturing center, as well as factors such as the availability of cheap manuals and creativity in technologies, fuel economy and sustainability and rising production rates of cars.
Europe has the largest share of the automotive AHSS market, led by Asia Pacific due to factors such as governmental strict emission standards, improved economic conditions and industry operators increased investment in the region. AHSS demand in the area has increased because of influential car manufacturers who have tried to boost automotive safety and fuel economy. In addition, the region is projected to shift towards high-value, high-growth segments during the forecast period due to the involvement of influential companies such as ThyssenKrupp AG. Eastern Asia will continue to be a highly lucrative market over the forecast period due to growing car production and green investment in the country.
The market research study on “AHSS Market (AHSS Market By Type: Complex Phase, Dual Phase, TRIP, Others; AHSS Market By Application: Bumpers, Suspension, Structural Assembly & Closures, Others; AHSS Market By End Use: Commercial Vehicle, Passenger Cars) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2020 - 2027) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2020 - 2027” offers a detailed insights on the global AHSS market entailing insights on its different market segments. Market dynamics with drivers, restraints and opportunities with their impact are provided in the report. The report also provides competitive landscape to understand the current stance of particular player. The report covers global AHSS market size, and segment markets by type, material, propeller shaft type, end use, and geography along with the information on companies operating in the market. The AHSS market analysis is provided for major regional markets including North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. For each region, the market size for different segments has been covered under the scope of report.
The global AHSS market is segmented as below:
AHSS Market By Type
AHSS Market By Application
AHSS Market By End Use
AHSS Market By Geography
Middle East & Africa
Key Players and Market Situation
Participants include major global players such SSAB AB, United Steel Corporation, ThyssenKrupp AG, Kobe Steel Ltd, and AK Steel Holding Corporation, ArcelorMittal SA, and Others.
Most steel producers are currently heavily invested in AHSS. ArcelorMittal SA, for example, is producing a high-strength, 3rd-generation steel, known as HF1050, which is extremely formable. Its flexibility factor in vehicle components requires weight savings of 10 to 20%.
Advanced high-performance steel is specific steel which, due to its microstructures and its high tensile resistance, is widely applied to the automotive industry.
The implementation of AHSS allows manufacturers and engineers to guarantee total vehicle health, production consistency, productivity, long life and durability at dramatically reduced cost in the automotive industry.
The increasing vehicle sales is a key driver of the market.
The market value of automotive advanced high strength steel is anticipated to be worth around US$ 35 Bn in 2027.
The automotive advanced high strength steel market is anticipated to grow around 13% CAGR amid the forecast period 2020-2027.
Complex Phase, Dual Phase, TRIP and Others are the types of automotive advanced high strength steel market.
Bumpers, Suspension, Structural Assembly & Closures and Others are the applications of automotive advanced high strength steel market.