[305 Pages Report] The global automotive structural steel market was valued at US$ 120.49 Billion in 2022 and is expected to grow at a CAGR of 3.5% in terms of revenue between 2022 and 2032, reaching US$ 169.97 Billion by 2032.
Automotive structural steel is used to provide greater strength to vehicle components. High strength of steel can be achieved by mixing alloy materials and cooling at low temperature. Additionally, automotive structural steel has excellent cold forming ability.
Therefore, it is used in the making of boom, arms of truck, and trailer frames. Stainless steel is mainly used to make exhaust systems of automotive vehicles owing to its impressive surface finishing and admirable corrosion resistance.
| Report Attribute | Details |
|---|---|
| Estimated Base Year Value (2021) | US$ 116.42 Billion |
| Expected Market Value (2022) | US$ 120.49 Billion |
| Anticipated Forecast Value (2032) | US$ 169.97 Billion |
| Projected Growth Rate (2022 to 2032) | 3.5% CAGR |
Stainless steel is a high-value added steel product that can be used in various applications without any separate treatment. Approximately, 34% automotive structural steel is used for body structures, panels, doors, and trunk closures, 23% automotive structural steel is used for drive train components, engine component, and gears, 12% is used for suspension units, and the remaining is used for tyres, wheels, steering, breaking system, and fuel tanks.
Ultra-high strength steel is keenly used in the making of B-pillar and front cross parts of automotive vehicles. High-strength steel has a good balance of strength, formability, energy absorption, and durability. Therefore, it is used in the making of roof and side panels of automotive vehicles.
Automotive structural steel makers are deliberately using lightweight alloy materials with automotive structural steel in a bid to increase the physical property of vehicle components i.e., strength, ductility, toughness and fatigue and make a significant cornerstone among the customers, clientele, and in the global automotive structural steel market.
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The increasing demand for eco-friendly vehicles, coupled with the increasing production of automotive vehicles is expected to drive the automotive structural steel market during the forecast period. Moreover, supportive government regulations pertaining to overall vehicle weight and safety of passengers are also projected to boost the demand for automotive structural steel over the coming years.
Automotive structural steel makers are strongly focused on making high-performance automotive structural steel at affordable cost, to meet the stringent safety regulations and emission norms. Moreover, automakers are also using advanced high-strength steel to increase the safety of vehicles.
General Motors Company is using an advanced automotive structural steel named as Advanced High-Strength Steels (AHSS) to make 70% of its vehicles. Therefore, advanced high-strength steel has become a trend in the automotive structural steel market.
The automotive structural steel market in Europe is expected to grow at a CAGR of 2 percent. Europe is expected to grow with a sizable share in the global automotive structural steel market owing to the rising demand for passenger vehicles, coupled with imposition of regulations pertaining to emission of harmful gasses which, in turn, drive the global automotive structural market in the coming decades.
The German automotive industry is an integral and substantial part of the European automotive industry owing to the presence of industries including precision equipment, passenger cars, and heavy automotive vehicles. Moreover, the rising exports of premium cars and increasing R&D budgets for the development of premium cars is expected to propel the German automotive structural steel market in the country.
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According to the Future Market Insights analysis, North America is projected to grow at a CAGR of 3% during the forecast period. Expansion of the electric vehicles industry in the U.S., Canada, and Mexico are likely to benefit from the industry growth.
In addition, it is expected to grow with a significant growth rate in the global automotive structural steel market owing to the increasing automotive vehicle fleet, coupled with the rising awareness of lightweight eco-friendly vehicles over the forthcoming years.
Some of the key participants present in the global food tester market include POSCO, KIRCHHOFF Group, Inner Galaxy Group, thyssenkrupp AG, Advanced Structural Technologies, Inc., SSAB, Waldaschaff Automotive GmbH, KOBE STEEL, LTD., NANOSTEEL, Ternium. Attributed to the presence of such a high number of participants, the market is highly competitive.
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| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 3.5% from 2022 to 2032 |
| Market Value in 2022 | US$ 120.49 Billion |
| Market Value in 2032 | US$ 169.97 Billion |
| Base Year for Estimation | 2021 |
| Historical Data | 2017 to 2021 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in USD Million and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Segments Covered |
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| Regions Covered |
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| Key Countries Profiled |
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| Key Companies Profiled |
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| Customization | Available Upon Request |
FMI projects the global automotive structural steel market to expand at a 3.5% value CAGR by 2032
North America is expected to be the most opportunistic automotive structural steel market, expanding at a 3% CAGR
Lyckeby, Cargill Inc., BASF, DowDuPont, Lanxess Aktiengesellschaft, Mitsui Chemicals, Shell International, Covestro, Stepan Company, Sweetener Products POSCO, KIRCHHOFF Group, and Inner Galaxy Group are some prominent automotive structural steel manufacturers.
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Product Life Cycle Analysis
3.5. Supply Chain Analysis
3.5.1. Supply Side Participants and their Roles
3.5.1.1. Producers
3.5.1.2. Mid-Level Participants (Traders/ Agents/ Brokers)
3.5.1.3. Wholesalers and Distributors
3.5.2. Value Added and Value Created at Node in the Supply Chain
3.5.3. List of Raw Material Suppliers
3.5.4. List of Existing and Potential Buyer’s
3.6. Investment Feasibility Matrix
3.7. Value Chain Analysis
3.7.1. Profit Margin Analysis
3.7.2. Wholesalers and Distributors
3.7.3. Retailers
3.8. PESTLE and Porter’s Analysis
3.9. Regulatory Landscape
3.9.1. By Key Regions
3.9.2. By Key Countries
3.10. Regional Parent Market Outlook
3.11. Production and Consumption Statistics
3.12. Import and Export Statistics
4. Global Automotive Structural Steel Market Analysis 2017-2021 and Forecast, 2022-2032
4.1. Historical Market Size Value (US$ Mn) & Volume (Tons) Analysis, 2017-2021
4.2. Current and Future Market Size Value (US$ Mn) & Volume (Tons) Projections, 2022-2032
4.2.1. Y-o-Y Growth Trend Analysis
4.2.2. Absolute $ Opportunity Analysis
5. Global Automotive Structural Steel Market Analysis 2017-2021 and Forecast 2022-2032, By Manufacturing Process
5.1. Introduction / Key Findings
5.2. Historical Market Size Value (US$ Mn) & Volume (Tons) Analysis By Manufacturing Process, 2017-2021
5.3. Current and Future Market Size Value (US$ Mn) & Volume (Tons) Analysis and Forecast By Manufacturing Process, 2022-2032
5.3.1. Cold Rolling
5.3.2. Hot Rolling
5.4. Y-o-Y Growth Trend Analysis By Manufacturing Process, 2017-2021
5.5. Absolute $ Opportunity Analysis By Manufacturing Process, 2022-2032
6. Global Automotive Structural Steel Market Analysis 2017-2021 and Forecast 2022-2032, By Product Type
6.1. Introduction / Key Findings
6.2. Historical Market Size Value (US$ Mn) & Volume (Tons) Analysis By Product Type, 2017-2021
6.3. Current and Future Market Size Value (US$ Mn) & Volume (Tons) Analysis and Forecast By Product Type, 2022-2032
6.3.1. Galvanized Steel
6.3.2. Stainless Steel
6.3.3. High-Strength Steel
6.3.4. Mild Carbon Steel
6.3.5. Ultra-High Speed Steel
6.4. Y-o-Y Growth Trend Analysis By Product Type, 2017-2021
6.5. Absolute $ Opportunity Analysis By Product Type, 2022-2032
7. Global Automotive Structural Steel Market Analysis 2017-2021 and Forecast 2022-2032, By Vehicle Component
7.1. Introduction / Key Findings
7.2. Historical Market Size Value (US$ Mn) & Volume (Tons) Analysis By Vehicle Component, 2017-2021
7.3. Current and Future Market Size Value (US$ Mn) & Volume (Tons) Analysis and Forecast By Vehicle Component, 2022-2032
7.3.1. Body Structure Components (panels, roof, door, trunk lid & other)
7.3.2. Drivetrain Components
7.3.3. Under Chassis Components
7.4. Y-o-Y Growth Trend Analysis By Vehicle Component, 2017-2021
7.5. Absolute $ Opportunity Analysis By Vehicle Component, 2022-2032
8. Global Automotive Structural Steel Market Analysis 2017-2021 and Forecast 2022-2032, By Vehicle Type
8.1. Introduction / Key Findings
8.2. Historical Market Size Value (US$ Mn) & Volume (Tons) Analysis By Vehicle Type, 2017-2021
8.3. Current and Future Market Size Value (US$ Mn) & Volume (Tons) Analysis and Forecast By Vehicle Type, 2022-2032
8.3.1. Passenger Car
8.3.2. Light Commercial Vehicle (LCV)
8.3.3. Heavy Commercial Vehicle (HCV)
8.3.4. Two Wheeler
8.4. Y-o-Y Growth Trend Analysis By Vehicle Type, 2017-2021
8.5. Absolute $ Opportunity Analysis By Vehicle Type, 2022-2032
9. Global Automotive Structural Steel Market Analysis 2017-2021 and Forecast 2022-2032, By Region
9.1. Introduction
9.2. Historical Market Size Value (US$ Mn) & Volume (Tons) Analysis By Region, 2017-2021
9.3. Current Market Size Value (US$ Mn) & Volume (Tons) Analysis and Forecast By Region, 2022-2032
9.3.1. North America
9.3.2. Latin America
9.3.3. Europe
9.3.4. Asia Pacific
9.3.5. MEA
9.4. Market Attractiveness Analysis By Region
10. North America Automotive Structural Steel Market Analysis 2017-2021 and Forecast 2022-2032, By Country
10.1. Historical Market Size Value (US$ Mn) & Volume (Tons) Trend Analysis By Market Taxonomy, 2017-2021
10.2. Market Size Value (US$ Mn) & Volume (Tons) Forecast By Market Taxonomy, 2022-2032
10.2.1. By Country
10.2.1.1. U.S.
10.2.1.2. Canada
10.2.2. By Manufacturing Process
10.2.3. By Product Type
10.2.4. By Vehicle Component
10.2.5. By Vehicle Type
10.3. Market Attractiveness Analysis
10.3.1. By Country
10.3.2. By Manufacturing Process
10.3.3. By Product Type
10.3.4. By Vehicle Component
10.3.5. By Vehicle Type
10.4. Key Takeaways
11. Latin America Automotive Structural Steel Market Analysis 2017-2021 and Forecast 2022-2032, By Country
11.1. Historical Market Size Value (US$ Mn) & Volume (Tons) Trend Analysis By Market Taxonomy, 2017-2021
11.2. Market Size Value (US$ Mn) & Volume (Tons) Forecast By Market Taxonomy, 2022-2032
11.2.1. By Country
11.2.1.1. Brazil
11.2.1.2. Mexico
11.2.1.3. Rest of Latin America
11.2.2. By Manufacturing Process
11.2.3. By Product Type
11.2.4. By Vehicle Component
11.2.5. By Vehicle Type
11.3. Market Attractiveness Analysis
11.3.1. By Country
11.3.2. By Manufacturing Process
11.3.3. By Product Type
11.3.4. By Vehicle Component
11.3.5. By Vehicle Type
11.4. Key Takeaways
12. Europe Automotive Structural Steel Market Analysis 2017-2021 and Forecast 2022-2032, By Country
12.1. Historical Market Size Value (US$ Mn) & Volume (Tons) Trend Analysis By Market Taxonomy, 2017-2021
12.2. Market Size Value (US$ Mn) & Volume (Tons) Forecast By Market Taxonomy, 2022-2032
12.2.1. By Country
12.2.1.1. Germany
12.2.1.2. U.K.
12.2.1.3. France
12.2.1.4. Spain
12.2.1.5. Italy
12.2.1.6. Rest of Europe
12.2.2. By Manufacturing Process
12.2.3. By Product Type
12.2.4. By Vehicle Component
12.2.5. By Vehicle Type
12.3. Market Attractiveness Analysis
12.3.1. By Country
12.3.2. By Manufacturing Process
12.3.3. By Product Type
12.3.4. By Vehicle Component
12.3.5. By Vehicle Type
12.4. Key Takeaways
13. Asia Pacific Automotive Structural Steel Market Analysis 2017-2021 and Forecast 2022-2032, By Country
13.1. Historical Market Size Value (US$ Mn) & Volume (Tons) Trend Analysis By Market Taxonomy, 2017-2021
13.2. Market Size Value (US$ Mn) & Volume (Tons) Forecast By Market Taxonomy, 2022-2032
13.2.1. By Country
13.2.1.1. China
13.2.1.2. Japan
13.2.1.3. South Korea
13.2.1.4. Malaysia
13.2.1.5. Singapore
13.2.1.6. Australia
13.2.1.7. New Zealand
13.2.1.8. Rest of APAC
13.2.2. By Manufacturing Process
13.2.3. By Product Type
13.2.4. By Vehicle Component
13.2.5. By Vehicle Type
13.3. Market Attractiveness Analysis
13.3.1. By Country
13.3.2. By Manufacturing Process
13.3.3. By Product Type
13.3.4. By Vehicle Component
13.3.5. By Vehicle Type
13.4. Key Takeaways
14. MEA Automotive Structural Steel Market Analysis 2017-2021 and Forecast 2022-2032, By Country
14.1. Historical Market Size Value (US$ Mn) & Volume (Tons) Trend Analysis By Market Taxonomy, 2017-2021
14.2. Market Size Value (US$ Mn) & Volume (Tons) Forecast By Market Taxonomy, 2022-2032
14.2.1. By Country
14.2.1.1. GCC Countries
14.2.1.2. South Africa
14.2.1.3. Israel
14.2.1.4. Rest of MEA
14.2.2. By Manufacturing Process
14.2.3. By Product Type
14.2.4. By Vehicle Component
14.2.5. By Vehicle Type
14.3. Market Attractiveness Analysis
14.3.1. By Country
14.3.2. By Manufacturing Process
14.3.3. By Product Type
14.3.4. By Vehicle Component
14.3.5. By Vehicle Type
14.4. Key Takeaways
15. Key Countries Automotive Structural Steel Market Analysis
15.1. U.S.
15.1.1. Pricing Analysis
15.1.2. Market Share Analysis, 2021
15.1.2.1. By Manufacturing Process
15.1.2.2. By Product Type
15.1.2.3. By Vehicle Component
15.1.2.4. By Vehicle Type
15.2. Canada
15.2.1. Pricing Analysis
15.2.2. Market Share Analysis, 2021
15.2.2.1. By Manufacturing Process
15.2.2.2. By Product Type
15.2.2.3. By Vehicle Component
15.2.2.4. By Vehicle Type
15.3. Brazil
15.3.1. Pricing Analysis
15.3.2. Market Share Analysis, 2021
15.3.2.1. By Manufacturing Process
15.3.2.2. By Product Type
15.3.2.3. By Vehicle Component
15.3.2.4. By Vehicle Type
15.4. Mexico
15.4.1. Pricing Analysis
15.4.2. Market Share Analysis, 2021
15.4.2.1. By Manufacturing Process
15.4.2.2. By Product Type
15.4.2.3. By Vehicle Component
15.4.2.4. By Vehicle Type
15.5. Germany
15.5.1. Pricing Analysis
15.5.2. Market Share Analysis, 2021
15.5.2.1. By Manufacturing Process
15.5.2.2. By Product Type
15.5.2.3. By Vehicle Component
15.5.2.4. By Vehicle Type
15.6. U.K.
15.6.1. Pricing Analysis
15.6.2. Market Share Analysis, 2021
15.6.2.1. By Manufacturing Process
15.6.2.2. By Product Type
15.6.2.3. By Vehicle Component
15.6.2.4. By Vehicle Type
15.7. France
15.7.1. Pricing Analysis
15.7.2. Market Share Analysis, 2021
15.7.2.1. By Manufacturing Process
15.7.2.2. By Product Type
15.7.2.3. By Vehicle Component
15.7.2.4. By Vehicle Type
15.8. Spain
15.8.1. Pricing Analysis
15.8.2. Market Share Analysis, 2021
15.8.2.1. By Manufacturing Process
15.8.2.2. By Product Type
15.8.2.3. By Vehicle Component
15.8.2.4. By Vehicle Type
15.9. Italy
15.9.1. Pricing Analysis
15.9.2. Market Share Analysis, 2021
15.9.2.1. By Manufacturing Process
15.9.2.2. By Product Type
15.9.2.3. By Vehicle Component
15.9.2.4. By Vehicle Type
15.10. China
15.10.1. Pricing Analysis
15.10.2. Market Share Analysis, 2021
15.10.2.1. By Manufacturing Process
15.10.2.2. By Product Type
15.10.2.3. By Vehicle Component
15.10.2.4. By Vehicle Type
15.11. Japan
15.11.1. Pricing Analysis
15.11.2. Market Share Analysis, 2021
15.11.2.1. By Manufacturing Process
15.11.2.2. By Product Type
15.11.2.3. By Vehicle Component
15.11.2.4. By Vehicle Type
15.12. South Korea
15.12.1. Pricing Analysis
15.12.2. Market Share Analysis, 2021
15.12.2.1. By Manufacturing Process
15.12.2.2. By Product Type
15.12.2.3. By Vehicle Component
15.12.2.4. By Vehicle Type
15.13. Malaysia
15.13.1. Pricing Analysis
15.13.2. Market Share Analysis, 2021
15.13.2.1. By Manufacturing Process
15.13.2.2. By Product Type
15.13.2.3. By Vehicle Component
15.13.2.4. By Vehicle Type
15.14. Singapore
15.14.1. Pricing Analysis
15.14.2. Market Share Analysis, 2021
15.14.2.1. By Manufacturing Process
15.14.2.2. By Product Type
15.14.2.3. By Vehicle Component
15.14.2.4. By Vehicle Type
15.15. Australia
15.15.1. Pricing Analysis
15.15.2. Market Share Analysis, 2021
15.15.2.1. By Manufacturing Process
15.15.2.2. By Product Type
15.15.2.3. By Vehicle Component
15.15.2.4. By Vehicle Type
15.16. New Zealand
15.16.1. Pricing Analysis
15.16.2. Market Share Analysis, 2021
15.16.2.1. By Manufacturing Process
15.16.2.2. By Product Type
15.16.2.3. By Vehicle Component
15.16.2.4. By Vehicle Type
15.17. GCC Countries
15.17.1. Pricing Analysis
15.17.2. Market Share Analysis, 2021
15.17.2.1. By Manufacturing Process
15.17.2.2. By Product Type
15.17.2.3. By Vehicle Component
15.17.2.4. By Vehicle Type
15.18. South Africa
15.18.1. Pricing Analysis
15.18.2. Market Share Analysis, 2021
15.18.2.1. By Manufacturing Process
15.18.2.2. By Product Type
15.18.2.3. By Vehicle Component
15.18.2.4. By Vehicle Type
15.19. Israel
15.19.1. Pricing Analysis
15.19.2. Market Share Analysis, 2021
15.19.2.1. By Manufacturing Process
15.19.2.2. By Product Type
15.19.2.3. By Vehicle Component
15.19.2.4. By Vehicle Type
16. Market Structure Analysis
16.1. Competition Dashboard
16.2. Competition Benchmarking
16.3. Market Share Analysis of Top Players
16.3.1. By Regional
16.3.2. By Manufacturing Process
16.3.3. By Product Type
16.3.4. By Vehicle Component
16.3.5. By Vehicle Type
17. Competition Analysis
17.1. Competition Deep Dive
17.1.1. POSCO
17.1.1.1. Overview
17.1.1.2. Product Portfolio
17.1.1.3. Profitability by Market Segments
17.1.1.4. Sales Footprint
17.1.1.5. Strategy Overview
17.1.1.5.1. Marketing Strategy
17.1.1.5.2. Product Strategy
17.1.1.5.3. Channel Strategy
17.1.2. KIRCHHOFF Group
17.1.2.1. Overview
17.1.2.2. Product Portfolio
17.1.2.3. Profitability by Market Segments
17.1.2.4. Sales Footprint
17.1.2.5. Strategy Overview
17.1.2.5.1. Marketing Strategy
17.1.2.5.2. Product Strategy
17.1.2.5.3. Channel Strategy
17.1.3. Inner Galaxy Group
17.1.3.1. Overview
17.1.3.2. Product Portfolio
17.1.3.3. Profitability by Market Segments
17.1.3.4. Sales Footprint
17.1.3.5. Strategy Overview
17.1.3.5.1. Marketing Strategy
17.1.3.5.2. Product Strategy
17.1.3.5.3. Channel Strategy
17.1.4. thyssenkrupp AG
17.1.4.1. Overview
17.1.4.2. Product Portfolio
17.1.4.3. Profitability by Market Segments
17.1.4.4. Sales Footprint
17.1.4.5. Strategy Overview
17.1.4.5.1. Marketing Strategy
17.1.4.5.2. Product Strategy
17.1.4.5.3. Channel Strategy
17.1.5. Advanced Structural Technologies, Inc.
17.1.5.1. Overview
17.1.5.2. Product Portfolio
17.1.5.3. Profitability by Market Segments
17.1.5.4. Sales Footprint
17.1.5.5. Strategy Overview
17.1.5.5.1. Marketing Strategy
17.1.5.5.2. Product Strategy
17.1.5.5.3. Channel Strategy
17.1.6. SSAB
17.1.6.1. Overview
17.1.6.2. Product Portfolio
17.1.6.3. Profitability by Market Segments
17.1.6.4. Sales Footprint
17.1.6.5. Strategy Overview
17.1.6.5.1. Marketing Strategy
17.1.6.5.2. Product Strategy
17.1.6.5.3. Channel Strategy
17.1.7. Waldaschaff Automotive GmbH
17.1.7.1. Overview
17.1.7.2. Product Portfolio
17.1.7.3. Profitability by Market Segments
17.1.7.4. Sales Footprint
17.1.7.5. Strategy Overview
17.1.7.5.1. Marketing Strategy
17.1.7.5.2. Product Strategy
17.1.7.5.3. Channel Strategy
17.1.8. KOBE STEEL, LTD.
17.1.8.1. Overview
17.1.8.2. Product Portfolio
17.1.8.3. Profitability by Market Segments
17.1.8.4. Sales Footprint
17.1.8.5. Strategy Overview
17.1.8.5.1. Marketing Strategy
17.1.8.5.2. Product Strategy
17.1.8.5.3. Channel Strategy
17.1.9. NANOSTEEL
17.1.9.1. Overview
17.1.9.2. Product Portfolio
17.1.9.3. Profitability by Market Segments
17.1.9.4. Sales Footprint
17.1.9.5. Strategy Overview
17.1.9.5.1. Marketing Strategy
17.1.9.5.2. Product Strategy
17.1.9.5.3. Channel Strategy
17.1.10. Ternium
17.1.10.1. Overview
17.1.10.2. Product Portfolio
17.1.10.3. Profitability by Market Segments
17.1.10.4. Sales Footprint
17.1.10.5. Strategy Overview
17.1.10.5.1. Marketing Strategy
17.1.10.5.2. Product Strategy
17.1.10.5.3. Channel Strategy
18. Assumptions & Acronyms Used
19. Research Methodology
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Automotive Structural Steel Market
