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Automotive AHSS Market Forecasts Accruals of USD 23.45 Billion by 2023 at 9.8% of CAGR; Confirms MRFR

Market Research Future published a research report on “Global Automotive AHSS Market Research Report- Forecast 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.


Pune, India -- (SBWIRE) -- 01/12/2018 -- Global Automotive AHSS Market, By Product Type (Dual Phase, Martensitic Steel, Boron Steel and Others), by Vehicle Type (Passenger Car and Commercial Vehicle), By Application (Body & Closures, Suspensions, Bumper and Others) and Region - Forecast 2016-2023.

AK Steel Holding Corporation (U.S.), ArcelorMittal S.A. (Luxembourg), China Baowu Steel Group Corp., Ltd. (China), Kobe Steel Ltd.( Japan), POSCO (South Korea), SSAB AB (Sweden), Tata Steel Limited(India), ThyssenKrupp AG(Germany) and United Steel Corporation (India)., and others are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the global AHSS market.

AHSS Market Global Market – Overview

There has been increase in the safety regulations and fuel economy regulation, and need for improved material have also increased. Steel industry focuses on these needs through development of new and advanced high strength steel grades, whose unique metallurgical property and manufacturability help meet stringent requirements. Steel offers the highest strength level than other metals, and also gives advantageous product application. AHSS is used in a number of applications, shows improved vehicle performance in fuel efficiency, affordability and durability. Depending upon position and application AHSS serves different functions. Many companies focusing on high-quality products and on the changing lifestyle of consumers, enhance the growth of the AHSS market for automotive. Low cost and growing consumer awareness about cost effective nature and more energy efficient vehicles, are driving automotive AHSS market. Moreover, strong global presence and innovations, drive the market in Asia Pacific. Growing urbanization, and developing infrastructure also add to the market growth.

Automotive AHSS Market is expected to reach at market size of ~ USD 23.45 billion by the end of forecast period with CAGR of ~9.8% between 2017 and 2023.

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The choice of a material for an automotive application depends on the function, environment, and requirements of the part being produced. On the basis of product type of automotive AHSS includes dual phase steel, martensitic steel, boron steel and others. Dual-phase steels (DP steels) consist of ferrite, and a dispersed hard martensitic second phase in the form of islands. Usually they are low-carbon low-alloy materials. They combine high strength and good formability at low production costs, and they are widely used in automotive applications.

In case of AHSS industry, there are not much of the technology used, so the technology progress is medium. In order to make AHSS innovative, there are various material used in order to make them efficient and durable. In future, aluminum is going to be a trend due to its light weight property. The technology progress in structural sheet metal industry has been developing highly in recent years. The development and innovation in the sheet metal forming technologies determines the progress in the system control and press tool construction. There has been growth in the forming technologies such as hydroforming, electromagnetic metal forming, and others. This growth in the structural sheet metal industry will directly affect the AHSS market.

Industry/ Innovation/ Related News:

The key strategies followed by most companies within the global AHSS market are that of new product development.

On Sep 2015, POSCO has expanded their product line in premium automotive steel sheet.

On Sep 2017, Kobe Steel, Ltd. has turned Shinko Wire Company, Ltd. into a subsidiary in association with Shinko Wire's absorption-type merger of Tesac Wirerope Co., Ltd.

On Sep 2017, Tata Steel has signed a memorandum of understanding with ThyssenKrupp with a 50:50 joint venture. The joint venture will combine the flat steel business of the two companies.

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AHSS Market – Segmentation

The global AHSS market is segmented in to 3 key dynamics for the convenience of the report and enhanced understanding;

Segmentation by Product Type: Comprises Dual Phase, Martensitic Steel, Boron Steel and Others

Segmentation by Vehicle Type: Comprises Passenger Car and Commercial Vehicle

Segmentation by Application: Comprises Body & Closures, Suspensions, Bumper and Others

Segmentation by Regions: Comprises Geographical regions - North America, Europe, APAC and Rest of the World.

AHSS Market: Regional Analysis

In Asia Pacific, China majorly contributes in the steel industry, but in recent times the steel market in China, has declined. The growth of the component manufacturers has taken a different route than other regions. The Japanese producers have maintained strong relationships with their suppliers. The rising competition and increase in the trade, globally, have led to the improved distribution system, across various developing nations. Also, the automotive industry in China continues to grow due to increased production of passenger and commercial vehicles. FDI is one of the major factors for the growth of automotive industry in China. Automakers in China are developing new and trade friendly policies that enable them to produce a larger number of vehicles. This increase in the number of vehicles, will result in the growth of the automotive AHSS market during the forecast period. The other factors that are responsible for the growth of the market are availability of low-cost manual and innovation in engineering, focus on fuel efficiency and sustainability, and the rising vehicle production levels. The region being a globally competitive automotive manufacturing hub, also pushes the market of Automotive AHSS.

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