New York, NY -- (SBWire) -- 02/10/2021 --The global high strength steel market is expected to reach USD 46.62 Billion by 2026, according to a new report by Reports and Data. High strength steel is mainly deployed for structural applications as well as in the automobile industry. The growing need to reduce the weight of the automotive and thus, consumption of energy, is expected to stimulate product demand in the upcoming years. Further, increasing investments by steel manufacturers in the research and development activities is anticipated to drive the market growth in the forecast period. At present, the body of a passenger car comprises around 80% high strength steel, the bulk of which is HSLA steel and an increasing share is multiphase steel.
Furthermore, the report is furnished with the latest impact of the COVID-19 pandemic on the market. The pandemic has affected every segment of the market, along with bringing disruption in the supply chain, demands & trends, and financial difficulties. The report covers the initial and future assessment of the COVID-19 impact on the market.
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The report covers the market dynamics analysis, company profiles, production and manufacturing capacity, product specifications, product value, and key players. The report also offers an insight into the growth prospects during the forecast period. The High Strength Steel Market report also offers detailed data on the key market players to impart a deeper understanding of the competitive landscape. The report focuses on the key market elements to ensure the readers gain a competitive advantage and maximum benefit of the market data to assist them in achieving substantial growth and an advantageous position in the global market
Further key findings from the report suggest
By product type, dual-phase steel held a considerable market share in 2018 and is expected to grow at a rate of 7.6% in the forecast period. At the same yield strength, dual-phase steels have higher tensile strength and elongation as compared to HSLA steel. Furthermore, as more complex shapes can be formed from this product type, the part geometry can be engineered to deliver excellent crash response.
By application, body & closures contributed to the largest market share in 2018. This is owing to the benefits provided by the product in reducing body weight and increasing fuel-efficiency. Additionally, the product also increases the crash-resistance of automobiles.
North America region held the second largest market share in 2018 and is expected to grow at a rate of 6.8% in the forecast period. The high demand in this region may be attributed to its healthy aerospace and marine sectors, as high strength steel finds widespread application to produce lightweight components.
Competitive Terrain:
The global High Strength Steel market has a consolidated presence of a large number of companies that have been performing consistently to achieve optimum market growth. The report comprehensively discusses these companies' current market standing, past performances, demand & supply graphs, sales network, production & consumption patterns, and distribution channels. The report thus points out the effective business approaches undertaken by these market players to build on their market footprint.
The leading companies operating across the global High Strength Steel market are listed below:
Arcelor Mittal S.A., United States Steel Corporation, Baosteel Group Corporation, TATA Steel, SSAB AB, Nippon Steel & Sumitomo Steel Corporation, POSCO, Steel Authority of India Limited, Anang Steel Company Limited, Nucor Corporation, JSW Steel, and JSW Steel, among others.
Product Type Outlook (Volume, Kilo Tons; 2016-2026 and Revenue, USD Million; 2016-2026)
High-Strength Low-Alloy (HSLA) Steel
Transformation-Inducted Plasticity (TRIP) Steel
Bake Hardenable (BH) Steel
Dual-Phase (DP) Steel
Carbon Manganese Steel
Others
Application Outlook (Volume, Kilo Tons; 2016-2026 and Revenue, USD Million; 2016-2026)
Body & Closures
Suspensions
Bumpers
Others
Industry Vertical Outlook (Volume, Kilo Tons; 2016-2026 and Revenue, USD Million; 2016-2026)
Automotive
Construction
Aerospace
Mining
Others
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Radical Features of the High Strength Steel Market Report:
Valuable insights into the High Strength Steel market to impart an in-depth understanding of the business verticle
An 8-year forecast estimation along with an analysis of key elements of the market
Technological advancements, regulatory framework, and recent developments covered in the report
Growth analysis and projections until 2027
Statistical analysis of the key players operating in the High Strength Steel industry
Table Of Contents:
Chapter 1. Market Synopsis
Chapter 2. Executive Summary
Chapter 3. Indicative Metrics
Chapter 4. High Strength Steel Market Segmentation & Impact Analysis
Chapter 5. High Strength Steel Market, By Type Insights & Trends
Chapter 6. High Strength Steel Market, By Application Insights & Trends
Chapter 7. High Strength Steel Market, By End Use Insights & Trends
Chapter 8. High Strength Steel Market Regional Outlook
Chapter 9. Competitive Landscape
Chapter 10. Company Profiles
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High Strength Steel Market to Witness Robust Growth by 2027 : Top Players - Arcelor Mittal, United States Steel, Baosteel Group, TATA Steel, Etc
The global high strength steel market is expected to reach USD 46.62 Billion by 2026, according to a new report by Reports and Data.