Advanced High Strength Steel Market Set to Deliver Major Revenue Shares

Posted by Arslan on February 11th, 2020

Global advanced high strength steel market players need to seize opportunities created by regulations that prioritize light weighting and fuel efficiency, according to a new study by Fact.MR. According to the study, advanced high strength steel market will grow at over 10% annually, and reach nearly USD 30 billion in revenues by 2029.

"Car manufactures around the globe are embracing advanced high strength steel. The advantage of having added safety without adding significant costs to the bottom-line, has made advanced high strength steel sought-after among carmakers," says the Fact.MR report.

Advanced High Strength Steel Market: Key Findings

• China and India will drive demand for advanced high strength steel, driving heightened market activity in Asia Pacific
• Stringency in regulations in EU5 will create demand for lightweight materials, thereby benefitting the advanced high strength steel industry
• Dual phase (DP) will remain the preferred advanced high strength steel type, despite growing popularity of Transformation-induced plasticity (TRIP)
• In a bid to replace high cost solutions, 3rd generation AHSS will capture larger profit pools on back of its high tensile strength properties and cost-effectiveness

AHSS Market: Key Driving Factors

• Concerted shift toward lightweight materials
• Stringent safety and fuel regulations, especially in developed countries
• Shifting consumer preference from heavy to lightweight passenger cars

You can Request an Example Copy from here - https://www.factmr.com/connectus/sample?flag=S&rep_id=2995

AHSS Market: Key Restraints

• High cost of AHSS vis-à-vis conventional variants
• Lax regulations in various developing countries where passenger car sales are high

Competition Landscape

Manufacturers are leveraging the high growth potential of the AHSS market by smart strategies that enable them to achieve repetitive sales and pave the way for long-term customer retention. In a competitive and highly consolidated market, industry heavyweights are targeting capacity expansion and well-timed acquisitions in order to meet large scale global demand for AHSS. Prominent companies operating in the global advanced high strength steel (AHSS) market, include ThyssenKrupp AG, Nucor Corp, ArcelorMittal SA., AK Steel Holding Corp, Baoshan Iron & Steel Co., Ltd and SSAB AB.