Automotive Steel Market size was valued at US$ 21.79 Bn. in 2022 and the total revenue is expected to grow at 13.6% of CAGR through 2023 to 2029, reaching nearly US$ 53.22 Bn.
Automotive Steel Market Overview:
The report provides a comprehensive analysis of the current and historical growth patterns of the Automotive Steel Market including its CAGR, market size, forecast, revenue share, and price trends. It also identifies the industry-specific challenges, opportunities, and technological advancements that can help Automotive Steel market players increase revenue and growth. The report also covers the present and emerging trends that are influencing the development of the market.
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Automotive Steel Market Report Scope and Research Methodology:
The use of steel has continued to have an impact on the automotive industry. It is a practical, affordable, and durable substitute since it can be machined and made in a variety of shapes using various techniques. The steel types used in the automotive industry include stainless steel, high-strength steel, low-carbon steel, high-carbon steel, and galvanized steel. Numerous engine and vehicle parts are made from these steel types.
Automotive Steel Market Dynamics:
The third and fourth quarters of this fiscal year are anticipated to see the full impact of cumulative price increases, which are making raw material prices in India more fixed. Steel, aluminum, copper, and rubber are the main materials utilized in the automobile industry. Copper has climbed by 77%, aluminum by 40%, and steel by 30% over the last six months. But between August and October of 2020, the price of the primary raw materials went up 9% annually, with the price of steel and iron rising the most.
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Automotive Steel Market Regional Insights
The report provides a geographical segmentation of the Automotive Steel market, with market size, growth rate, and import and export data for key countries. The regional and country sections also provide a detailed analysis of the factors that are influencing the growth of the Automotive Steel market and the changes in market regulations that are impacting current and future market trends. The major indicators that are used to forecast the Automotive Steel market conditions for each country include consumption quantities, manufacturing sites and volumes, import-export analysis, price trend analysis, cost of raw materials, and downstream and upstream value chain analysis.
Automotive Steel Market Segmentation:
by Vehicle Type
Passenger Vehicles
Light Commercial Vehicles
Heavy Commercial Vehicles
by Application
Body structure
Power train
Suspension
Others
by Product
Transformation induced plasticity (TRIP) steel
Dual phase steel
Complex phase (CP)
Others
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 Steel Market Report are:
- What are the Automotive Steel market segments?
- Which segment has the largest Automotive Steel market share?
- What are the main factors driving the growth of the Automotive Steel market?
- What is the competitive scenario of the Automotive Steel market?
- Which region has the maximum Automotive Steel market share?
- What is the CAGR of the Automotive Steel market during the forecast period?
- Who are the major players in the 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 by segments, sub-segments and region
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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