Automotive Steel Market: What Represents The Key Growth Factors? 2024-2031 Porter's Five Forces Analysis| ArcelorMittal, Nippon Steel & Sumitomo Metal Corporation (NSSMC)

The Automotive Steel Market is anticipated to reach USD$ 161.4 billion by 2031 from USD$ 111.8 billion in 2022, at a CAGR of 4.7% during the forecast period.

DataM Intelligence has published a new research report on "Automotive Steel Market Size 2024". The report explores comprehensive and insightful Information about various key factors like Segmentation, CAGR, business revenue competitive positioning of key companies, investigating elements such as product offerings, pricing strategies, financial performance, product portfolios, growth initiatives, and geographical reach. The purpose of this report is to provide a telescopic view of the current market size by value and volume, opportunities, and development status.

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Automotive steel refers to a range of steel grades specifically designed for use in the manufacturing of vehicles, including cars, trucks, and other transportation modes. This type of steel is characterized by its high strength, lightweight properties, and excellent formability, making it suitable for various applications such as body panels, chassis, and structural components. Automotive steel is engineered to meet rigorous safety standards, enhance fuel efficiency, and improve performance. Innovations in automotive steel include advanced high-strength steel (AHSS) and ultra-high-strength steel (UHSS), which contribute to weight reduction while maintaining durability and crashworthiness.

Key Developments:

On June 29, 2022, Gestamp, a Spanish automotive engineering company, partnered with Sweden's SSAB to develop Docol 1000CP steel. This innovative steel boasts a tensile strength of 1000 MPa, making it stronger, lighter, and more environmentally friendly than conventional grades. Used in the chassis components of the Toyota Yaris, Docol 1000CP allows for the production of lighter parts while providing excellent fatigue resistance.

On December 19, 2022, Kloeckner Metals Corporation (KMC), a U.S.-based manufacturer and distributor of steel and metal products, acquired National Material of Mexico (NMM) for an undisclosed amount. This acquisition significantly enhances KMC's presence in major automotive and industrial markets across Mexico. NMM is an independent service center and materials supplier that provides automotive steel to the automotive and industrial sectors in Mexico.

On June 26, 2022, Outokumpu collaborated with Boysen Group and Thyssenkrupp Materials Processing Europe to support the decarbonization of the automotive sector. Outokumpu, a global leader in stainless steel, plans to introduce the first towards-zero stainless steel to the automotive industry in partnership with Thyssenkrupp Materials Processing Europe, a prominent provider of steel and aluminum services, and Boysen Group, a leading exhaust system manufacturer.

Research Process:

Both primary and secondary data sources have been used in the global Automotive Steel Market research report. During the research process, a wide range of industry-affecting factors are examined, including governmental regulations, market conditions, competitive levels, historical data, market situation, technological advancements, upcoming developments, in related businesses, as well as market volatility, prospects, potential barriers, and challenges.

List of the Key Players in the Automotive Steel Market:

ArcelorMittal, Nippon Steel & Sumitomo Metal Corporation (NSSMC), HBIS GROUP, Baosteel, POSCO, Tata Steel, HYUNDAI Steel Company, JFE Steel Corporation, Nucor Corporation and U.S. Steel Corporation.

Segment Covered in the Automotive Steel Market:

By Type: Low-Strength Steels, High Strength Steel (HSS), Advanced High Strength Steel (AHSS), Others

By Vehicle: Passenger Vehicles, Commercial Vehicles, Others

By Application: Structural Assembly & Closures, Bumpers, Suspension, Rims, Others

Regional Analysis:

The global Automotive Steel Market report focuses on six major regions: North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa.

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Regional Analysis:

The global Automotive Steel Market report focuses on six major regions: North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa. The report offers detailed insight into new product launches, new technology evolutions, innovative services, and ongoing R&D. The report discusses a qualitative and quantitative market analysis, including PEST analysis, SWOT analysis, and Porter's five force analysis. The Automotive Steel Market report also provides fundamental details such as raw material sources, distribution networks, methodologies, production capacities, industry supply chain, and product specifications.

**The full version of the report includes an in-depth analysis of emerging players and startups, which will provide valuable insights into the evolving market landscape and key strategies being adopted**

Chapter Outline:

Chapter 1: Introduces the report scope of the report, executive summary of different market segments (by region, product type, application, etc), including the market size of each market segment, future development potential, and so on. It offers a high-level view of the current state of the market and its likely evolution in the short to mid-term, and long term.

Chapter 2: key insights, key emerging trends, etc.

Chapter 3: Manufacturers competitive analysis, detailed analysis of Automotive Steel manufacturers competitive landscape, revenue market share, latest development plan, merger, and acquisition information, etc.

Chapter 4: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product revenue, gross margin, product introduction, recent development, etc.

Chapter 5 & 6: Revenue of Automotive Steel in regional level and country level. It provides a quantitative analysis of the market size and development potential of each region and its main countries and introduces the market development, future development prospects, market space, and market size of each country in the world.

Chapter 7: Provides the analysis of various market segments by Type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.

Chapter 8: Provides the analysis of various market segments by Application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.

Chapter 9: Analysis of industrial chain, including the upstream and downstream of the industry.

Chapter 10: The main points and conclusions of the report.

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Frequently Asked Questions

Q1) How Big is the Automotive Steel Market?

A) Global Automotive Steel Market reached US$ 111.8 billion in 2023 and is expected to reach US$ 161.4 billion by 2031, growing with a CAGR of 4.7% during the forecast period 2024-2031.

Q2) Who are the key players of Automotive Steel Market?

A) The Major key players are ArcelorMittal, Nippon Steel & Sumitomo Metal Corporation (NSSMC), HBIS GROUP, Baosteel, POSCO, Tata Steel, HYUNDAI Steel Company, JFE Steel Corporation, Nucor Corporation and U.S. Steel Corporation.

Q3) What are the regions covered in this report?

A) The global Automotive Steel Market report focuses on six major regions: North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa

4) What are the Segments Coverd in this report?

A) The Automotive Steel market is segmented as Type, Vehicle, Application and Region

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