The automotive steel market is expected to grow from USD 20.89 billion in 2022 to USD 67.06 Billion by 2032, at a CAGR of 12.37% during the forecast period 2023-2032.
Steel is widely utilized as the primary material choice for automotive parts and components. The material delivers desirable standards of safety & strength for automakers at moderately low costs. The types of steel utilized in the automotive enterprise can be anywhere from high-strength steel, stainless steel, low-carbon, high-carbon, or galvanized steel for body panels. These kinds of steel are utilized to produce different vehicle & engine components.
The driving factors of the market growth are the increase in the demand to reduce the weight of automobiles globally. Additionally, the rapid adoption of lightweight materials such as steel in automobiles is helping to boost the market growth. Moreover, the rising usage of the material for weight reduction in various vehicles helps achieve improved fuel efficiency and creates less impact on the environment, helping drive market growth. The high cost of production and the high price of raw materials are restraining factors of market growth. The improvement and advancement in advanced high-strength steels (AHSS) are the opportunity factors for market growth.
This study delivers a comprehensive analysis of application, vehicle type, type, and region. The application segment includes the power train, body structure, suspension, and others. The body structure segment holds the largest market share in 2022 due to the stringent regulation by governments worldwide for safety around vehicle parts. The vehicle type segment includes light commercial vehicles, passenger vehicles, and heavy commercial vehicles. The passenger vehicles segment held the largest market share in 2022 due to the rising demand for passenger vehicles. Moreover, the technological advancement in steel-based composite material for automotive and increasing anticipation for commercializing are propelling the segment's market growth. The type segment includes alloy steel, advanced high strength, high strength steel, and mild steel. The high-strength steel segment held the largest market share in 2022 due to the increasing demand for the product from the automotive and structural engineering sectors.
The market has been divided into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. North America holds the largest market share due to the rapidly growing automobile industry, coupled with an increasing number of aerospace projects in countries. Further, the presence of key companies and growing investments result in different product launches & innovations, mergers and& acquisitions, and entering into partnership accords expected to drive the market. Europe is projected to grow significantly due to the widespread application of high-strength steel for manufacturing lightweight components in different sectors.
Some of the notable players in the market are Baosteel Group Hu, HBIS Group, ArcelorMittal, POSCO International, JFE Steel Corporation, United States Steel Corporation, Shandong Iron and Steel Group Co., Ltd., Tata Steel, ChinaSteel, ArcelorMittal, Nippon Steel Corporation, and among others.
Report Description:
1. Introduction
1.1. Objectives of the Study
1.2. Market Definition
1.3. Research Scope
1.4. Currency
1.5. Key Target Audience
2. Research Methodology and Assumptions
3. Executive Summary
4. Premium Insights
4.1. Porter’s Five Forces Analysis
4.2. Value Chain Analysis
4.3. Top Investment Pockets
4.3.1. Market Attractiveness Analysis By Application
4.3.2. Market Attractiveness Analysis By Vehicle Type
4.3.3. Market Attractiveness Analysis By Type
4.3.4. Market Attractiveness Analysis By Region
4.4. Industry Trends
5. Market Dynamics
5.1. Market Evaluation
5.2. Drivers
5.2.1. The rapidly growing automobile industry
5.2.2. The increasing demand for the product from the automotive & structural engineering sectors
5.3. Restraints
5.3.1. The high cost of production
5.3.2. The high price of raw materials
5.4. Opportunities
5.4.1. The increase in the application of advanced high-strength steels (AHSS)
6. Global Automotive Steel Market Analysis and Forecast, By Application
6.1. Segment Overview
6.2. Power Train
6.3. Body Structure
6.4. Suspension
6.5. Others
7. Global Automotive Steel Market Analysis and Forecast, By Vehicle Type
7.1. Segment Overview
7.2. Light Commercial Vehicles
7.3. Passenger Vehicles
7.4. Heavy Commercial Vehicles
8. Global Automotive Steel Market Analysis and Forecast, By Type
8.1. Segment Overview
8.2. Alloy Steel
8.3. Advanced High Strength
8.4. High Strength Steel
8.5. Mild Steel
9. Global Automotive Steel Market Analysis and Forecast, By Regional Analysis
9.1. Segment Overview
9.2. North America
9.2.1. U.S.
9.2.2. Canada
9.2.3. Mexico
9.3. Europe
9.3.1. Germany
9.3.2. France
9.3.3. U.K.
9.3.4. Italy
9.3.5. Spain
9.4. Asia-Pacific
9.4.1. Japan
9.4.2. China
9.4.3. India
9.5. South America
9.5.1. Brazil
9.6. Middle East and Africa
9.6.1. UAE
9.6.2. South Africa
10. Global Automotive Steel Market-Competitive Landscape
10.1. Overview
10.2. Market Share of Key Players in Global Automotive Steel Market
10.2.1. Global Company Market Share
10.2.2. North America Company Market Share
10.2.3. Europe Company Market Share
10.2.4. APAC Company Market Share
10.3. Competitive Situations and Trends
10.3.1. Product Launches and Developments
10.3.2. Partnerships, Collaborations, and Agreements
10.3.3. Mergers & Acquisitions
10.3.4. Expansions
11. Company Profiles
11.1. Baosteel Group Hu
11.1.1. Business Overview
11.1.2. Company Snapshot
11.1.3. Company Market Share Analysis
11.1.4. Company Product Portfolio
11.1.5. Recent Developments
11.1.6. SWOT Analysis
11.2. HBIS Group
11.2.1. Business Overview
11.2.2. Company Snapshot
11.2.3. Company Market Share Analysis
11.2.4. Company Product Portfolio
11.2.5. Recent Developments
11.2.6. SWOT Analysis
11.3. ArcelorMittal
11.3.1. Business Overview
11.3.2. Company Snapshot
11.3.3. Company Market Share Analysis
11.3.4. Company Product Portfolio
11.3.5. Recent Developments
11.3.6. SWOT Analysis
11.4. POSCO International
11.4.1. Business Overview
11.4.2. Company Snapshot
11.4.3. Company Market Share Analysis
11.4.4. Company Product Portfolio
11.4.5. Recent Developments
11.4.6. SWOT Analysis
11.5. JFE Steel Corporation
11.5.1. Business Overview
11.5.2. Company Snapshot
11.5.3. Company Market Share Analysis
11.5.4. Company Product Portfolio
11.5.5. Recent Developments
11.5.6. SWOT Analysis
11.6. United States Steel Corporation
11.6.1. Business Overview
11.6.2. Company Snapshot
11.6.3. Company Market Share Analysis
11.6.4. Company Product Portfolio
11.6.5. Recent Developments
11.6.6. SWOT Analysis
11.7. Shandong Iron and Steel Group Co., Ltd.
11.7.1. Business Overview
11.7.2. Company Snapshot
11.7.3. Company Market Share Analysis
11.7.4. Company Product Portfolio
11.7.5. Recent Developments
11.7.6. SWOT Analysis
11.8. Tata Steel
11.8.1. Business Overview
11.8.2. Company Snapshot
11.8.3. Company Market Share Analysis
11.8.4. Company Product Portfolio
11.8.5. Recent Developments
11.8.6. SWOT Analysis
11.9. ChinaSteel
11.9.1. Business Overview
11.9.2. Company Snapshot
11.9.3. Company Market Share Analysis
11.9.4. Company Product Portfolio
11.9.5. Recent Developments
11.9.6. SWOT Analysis
11.10. ArcelorMittal
11.10.1. Business Overview
11.10.2. Company Snapshot
11.10.3. Company Market Share Analysis
11.10.4. Company Product Portfolio
11.10.5. Recent Developments
11.10.6. SWOT Analysis
11.11. Nippon Steel Corporation
11.11.1. Business Overview
11.11.2. Company Snapshot
11.11.3. Company Market Share Analysis
11.11.4. Company Product Portfolio
11.11.5. Recent Developments
11.11.6. SWOT Analysis
List of Table
1. Global Automotive Steel Market, By Application, 2019-2032 (USD Billion)
2. Global Power Train, Automotive Steel Market, By Region, 2019-2032 (USD Billion)
3. Global Body Structure, Automotive Steel Market, By Region, 2019-2032 (USD Billion)
4. Global Suspension, Automotive Steel Market, By Region, 2019-2032 (USD Billion)
5. Global Others, Automotive Steel Market, By Region, 2019-2032 (USD Billion)
6. Global Automotive Steel Market, By Vehicle Type, 2019-2032 (USD Billion)
7. Global Light Commercial Vehicles, Automotive Steel Market, By Region, 2019-2032 (USD Billion)
8. Global Passenger Vehicles, Automotive Steel Market, By Region, 2019-2032 (USD Billion)
9. Global Heavy Commercial Vehicles, Automotive Steel Market, By Region, 2019-2032 (USD Billion)
10. Global Automotive Steel Market, By Type, 2019-2032 (USD Billion)
11. Global Alloy Steel, Automotive Steel Market, By Region, 2019-2032 (USD Billion)
12. Global Advanced High Strength, Automotive Steel Market, By Region, 2019-2032 (USD Billion)
13. Global High Strength Steel, Automotive Steel Market, By Region, 2019-2032 (USD Billion)
14. Global Mild Steel, Automotive Steel Market, By Region, 2019-2032 (USD Billion)
15. North America Automotive Steel Market, By Application, 2019-2032 (USD Billion)
16. North America Automotive Steel Market, By Vehicle Type, 2019-2032 (USD Billion)
17. North America Automotive Steel Market, By Type, 2019-2032 (USD Billion)
18. U.S. Automotive Steel Market, By Application, 2019-2032 (USD Billion)
19. U.S. Automotive Steel Market, By Vehicle Type, 2019-2032 (USD Billion)
20. U.S. Automotive Steel Market, By Type, 2019-2032 (USD Billion)
21. Canada Automotive Steel Market, By Application, 2019-2032 (USD Billion)
22. Canada Automotive Steel Market, By Vehicle Type, 2019-2032 (USD Billion)
23. Canada Automotive Steel Market, By Type, 2019-2032 (USD Billion)
24. Mexico Automotive Steel Market, By Application, 2019-2032 (USD Billion)
25. Mexico Automotive Steel Market, By Vehicle Type, 2019-2032 (USD Billion)
26. Mexico Automotive Steel Market, By Type, 2019-2032 (USD Billion)
27. Europe Automotive Steel Market, By Application, 2019-2032 (USD Billion)
28. Europe Automotive Steel Market, By Vehicle Type, 2019-2032 (USD Billion)
29. Europe Automotive Steel Market, By Type, 2019-2032 (USD Billion)
30. Germany Automotive Steel Market, By Application, 2019-2032 (USD Billion)
31. Germany Automotive Steel Market, By Vehicle Type, 2019-2032 (USD Billion)
32. Germany Automotive Steel Market, By Type, 2019-2032 (USD Billion)
33. France Automotive Steel Market, By Application, 2019-2032 (USD Billion)
34. France Automotive Steel Market, By Vehicle Type, 2019-2032 (USD Billion)
35. France Automotive Steel Market, By Type, 2019-2032 (USD Billion)
36. U.K. Automotive Steel Market, By Application, 2019-2032 (USD Billion)
37. U.K. Automotive Steel Market, By Vehicle Type, 2019-2032 (USD Billion)
38. U.K. Automotive Steel Market, By Type, 2019-2032 (USD Billion)
39. Italy Automotive Steel Market, By Application, 2019-2032 (USD Billion)
40. Italy Automotive Steel Market, By Vehicle Type, 2019-2032 (USD Billion)
41. Italy Automotive Steel Market, By Type, 2019-2032 (USD Billion)
42. Spain Automotive Steel Market, By Application, 2019-2032 (USD Billion)
43. Spain Automotive Steel Market, By Vehicle Type, 2019-2032 (USD Billion)
44. Spain Automotive Steel Market, By Type, 2019-2032 (USD Billion)
45. Asia Pacific Automotive Steel Market, By Application, 2019-2032 (USD Billion)
46. Asia Pacific Automotive Steel Market, By Vehicle Type, 2019-2032 (USD Billion)
47. Asia Pacific Automotive Steel Market, By Type, 2019-2032 (USD Billion)
48. Japan Automotive Steel Market, By Application, 2019-2032 (USD Billion)
49. Japan Automotive Steel Market, By Vehicle Type, 2019-2032 (USD Billion)
50. Japan Automotive Steel Market, By Type, 2019-2032 (USD Billion)
51. China Automotive Steel Market, By Application, 2019-2032 (USD Billion)
52. China Automotive Steel Market, By Vehicle Type, 2019-2032 (USD Billion)
53. China Automotive Steel Market, By Type, 2019-2032 (USD Billion)
54. India Automotive Steel Market, By Application, 2019-2032 (USD Billion)
55. India Automotive Steel Market, By Vehicle Type, 2019-2032 (USD Billion)
56. India Automotive Steel Market, By Type, 2019-2032 (USD Billion)
57. South America Automotive Steel Market, By Application, 2019-2032 (USD Billion)
58. South America Automotive Steel Market, By Vehicle Type, 2019-2032 (USD Billion)
59. South America Automotive Steel Market, By Type, 2019-2032 (USD Billion)
60. Brazil Automotive Steel Market, By Application, 2019-2032 (USD Billion)
61. Brazil Automotive Steel Market, By Vehicle Type, 2019-2032 (USD Billion)
62. Brazil Automotive Steel Market, By Type, 2019-2032 (USD Billion)
63. Middle East and Africa Automotive Steel Market, By Application, 2019-2032 (USD Billion)
64. Middle East and Africa Automotive Steel Market, By Vehicle Type, 2019-2032 (USD Billion)
65. Middle East and Africa Automotive Steel Market, By Type, 2019-2032 (USD Billion)
66. UAE Automotive Steel Market, By Application, 2019-2032 (USD Billion)
67. UAE Automotive Steel Market, By Vehicle Type, 2019-2032 (USD Billion)
68. UAE Automotive Steel Market, By Type, 2019-2032 (USD Billion)
69. South Africa Automotive Steel Market, By Application, 2019-2032 (USD Billion)
70. South Africa Automotive Steel Market, By Vehicle Type, 2019-2032 (USD Billion)
71. South Africa Automotive Steel Market, By Type, 2019-2032 (USD Billion)
List of Figures
1. Global Automotive Steel Market Segmentation
2. Global Automotive Steel Market: Research Methodology
3. Market Size Estimation Methodology: Bottom-Up Approach
4. Market Size Estimation Methodology: Top- Approach
5. Data Triangulation
6. Porter’s Five Forces Analysis
7. Value Chain Analysis
8. Global Automotive Steel Market Attractiveness Analysis By Application
9. Global Automotive Steel Market Attractiveness Analysis By Vehicle Type
10. Global Automotive Steel Market Attractiveness Analysis By Type
11. Global Automotive Steel Market Attractiveness Analysis By Region
12. Global Automotive Steel Market: Dynamics
13. Global Automotive Steel Market Share By Application (2023 & 2032)
14. Global Automotive Steel Market Share By Vehicle Type (2023 & 2032)
15. Global Automotive Steel Market Share By Type (2023 & 2032)
16. Global Automotive Steel Market Share By Regions (2023 & 2032)
17. Global Automotive Steel Market Share By Company (2022)
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