Industry Background:
The automotive industry is currently dominated by hype about mobility services, autonomous driving, digitization, electric powertrains, etc. The increasingly stringent regulations relating to automobile productions and fuel efficiency, reducing the weight of automobiles is an extremely essential consideration for automakers. Steel is facing increasing competition from aluminium and other materials, as automobile manufacturers look to diminish the weight of the vehicles.This growth is primarily driven by Increased Safety Performance
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Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
Forecast Period | 2022-2027 |
Volume Unit | K Tons |
Value Unit | USD (Million) |
Key Companies in Study | TATA Steel (India), World Steel Association AISBL (Belgium), ArcelorMittal (Luxembourg), AISI (United States), JFE Steel (Japan), Posco (South Korea), United States Steel Corp. (United States), Nippon Steel (Japan), JSW Group China Steel Corp. (India), Nucor Corp. (United States), Hyundai Steel Co. Ltd. (South Korea) and ThyssenKrupp (Germany) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Steel sector in the
region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Vendors, such as TATA Steel (India), World Steel Association AISBL (Belgium), ArcelorMittal (Luxembourg), AISI (United States), JFE Steel (Japan), Posco (South Korea), United States Steel Corp. (United States), Nippon Steel (Japan), JSW Group China Steel Corp. (India), Nucor Corp. (United States), Hyundai Steel Co. Ltd. (South Korea) and ThyssenKrupp (Germany) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail competitive advantage through combined synergies.
Market Drivers
- Increased Safety Performance
- Growing Demand for Technologically Advanced Passenger Cars
- Rising Demand for Electric Vehicles
Market Trend
- New High Strength Hot Rolled Steel Sheet for Strain Aging Use
Restraints
- Rising Scope of Aluminum in Automobiles Manufacturing
Opportunities
Rapid Adoption for Lightweight Materials and Rising Investing In R&D for Developing Advanced Lower Weight and Higher Strength
Challenges
High Cost of Steel
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Vendors landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Automotive Steel Study Sheds Light on
The Automotive Steel Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Automotive Steel industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Automotive Steel industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey, and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.