Advanced High Strength Steel Market by End-users and Geography - Forecast and Analysis 2019-2023
advanced high strength steel market analysis considers sales from automobile, construction, aviation and marine, and end-user segments. Our analysis also considers the sales of advanced high strength steel in APAC, Europe, North America, South America, and MEA. In 2018, the automobile segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as increase in investments in the production of electric vehicles will play a significant role in the automobile segment to maintain its market position. Also, our global advanced high strength steel market report looks at factors such as the growing demand for AHSS in automobile industry, growing global construction industry, and advantages of AHSS over conventional steel. However, volatile prices of raw materials, threat of substitutes, and stringent government regulations may hamper the growth of the advanced high strength steel industry over the forecast period.
Global Advanced High Strength Steel Market: Overview
Growing global construction industry
The growing number of modern infrastructures, shopping malls, high-rise buildings, smart cities, and commercial spaces is leading to the growth in construction industry. In addition, there is an increase in the number of construction projects in developed and developing countries such as the US, Japan, the UK, Malaysia, India, and China. These factors will boost the demand for steel as it is extensively used in the making of metal frameworks for all infrastructure and buildings. Also, AHSS is gaining prominence over conventional steel as they are used effectively for building lean structures. This benefit will lead to the expansion of the global advanced high strength steel market at a CAGR of almost 13% during the forecast period.
Increasing use of electric arc furnace
Governments across the globe are coming up with stringent regulations on steel production in conventional blast furnaces due to the growing environmental concerns, need for large amount of energy, and cost-intensiveness. This is encouraging steel producing companies to adopt electric arc furnaces that addresses the problems associated with carbon emissions. The growing use of electric arc furnace will boost the production of steel products such as AHSS sheets and bars and have a positive impact on the overall market growth.
For the detailed list of factors that will drive the global advanced high strength steel market during the forecast period 2019-2023, click here.
With the presence of several major players, the global advanced high strength steel market is fragmented. robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading advanced high strength steel manufacturers, that include ArcelorMittal SA, Essar Steel India Ltd., HBIS Group Co. Ltd., Hyundai Steel, Jindal Steel & Power Ltd., JSW Holdings Ltd., Nippon Steel Corp., POSCO, Tata Steel Ltd., and United States Steel Corp.
Also, the advanced high strength steel market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
Frequently Asked Questions
This market study covers the global and regional market with an in-depth analysis of the overall growth prospects in the market. Furthermore, it sheds light on the comprehensive competitive landscape of the global market. The report further offers a dashboard overview of leading companies encompassing their successful marketing strategies, market contribution, recent developments in both historic and present contexts.
- By product type
- By End User/Applications
- By Technology
- By Region
The report provides a detailed evaluation of the market by highlighting information on different aspects which include drivers, restraints, opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing.