Automotive Steel Market 2019 Regional Trend & Growth Projections to 2025
Category: #business  By Partha Ray  Date: 2019-08-14
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Automotive Steel Market 2019 Regional Trend & Growth Projections to 2025

Global Automotive Steel Market report focuses on the major Types and Applications for the key players. The market forecast report also provides analysis of the market share, segmentation, revenue forecasts and geographic regions of the market. The research report is a professional and in-depth study on the current state of global Industry.

Asia Pacific automotive steel market will exhibit considerable growth rate on account of rising vehicle production across the region. Additionally, stringent regulatory norms including Bharat Stage and CAFÉ norms mandate the improving efficiency and lowering of vehicle efficiency, thereby expanding the regional share over the study timeframe. Most automobile manufactures including Suzuki, Toyota, and Honda among others are upgrading their vehicle portfolio with newer generation vehicles by incorporating high strength steel.

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Europe will account for a significant share in the automotive steel market share. This can be credited to the presence of multiple automobile manufacturers focusing on launching a wide range of vehicles at diversified price. Moreover, the rising demand for premium and sports cars with incorporation of superior body structure and steel materials further accentuates the regional demand.

Company profiled in automotive steel market report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:

  1. Posco
  2. United States Steel Corp.,
  3. Nippon Steel & Sumitomo Metal Corp.,
  4. JSW Group
  5. China Steel Corp.,
  6. Nucor Corp.,
  7. ArcelorMittal S.A.,
  8. Hyundai Steel Co. Ltd.,
  9. JFE Steel Corp.,
  10. Tata Steel Ltd.

Automotive Steel Market will register exponential gains from 2019 to 2025 due to rising automobile production on account of increasing preference for personal mobility solutions. The availability of a wide range of vehicle models across diversified price range including SUVs, crossovers, sedans, hatchbacks, and MUVs among others by major automobile OEMs further expands the automotive steel market over the projected timeframe.

The automotive steel market share based on application can be categorized into powertrain, body structure and suspension. Body structure will account for a significant share on account of the availability of a wide range of vehicles with varied body sizes and shapes including hatchbacks, sedans, crossovers, and SUVs. Additionally, industry manufacturers are continuously focusing on improving the vehicle power to weight ratio and lowering vehicle weight for improving efficiency. Additionally, the usage of high strength steel contributes significantly towards increasing product life span and reduces the probabilities of corrosion, thereby expanding the segment share.

Based on vehicle, the automotive steel market share is segmented into PCV, LCV, and HCV. LCV will account for a considerable share owing to increasing usage of these vehicles for transporting cargo and freight across long distances. Moreover, the proliferation of e-commerce activities along with compact size of these vehicles compared to the HCVs make them ideal for a diversified range of applications including home pick-up and delivery.

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The global automotive steel market market players are engaged in strategic acquisitions and joint ventures for increasing their market share. For instance, in 2018, JSW Steel completed the acquisition of U.S. based Acero Junction Holding for around USD 81 million. This strategy enabled the company to significantly improve its production processes and cater to a wide client base.

Few of the notable players in the automotive steel market size include Posco, United States Steel Corp., Nippon Steel & Sumitomo Metal Corp., JSW Group China Steel Corp., Nucor Corp., ArcelorMittal S.A., Hyundai Steel Co. Ltd., JFE Steel Corp., and Tata Steel Ltd.

Methodology used in this report: -

our researchers and domain experts use a unique blend of primary and secondary research, with validation and iterations at every stage, in order to minimize deviation and present the most accurate analysis of the c. The research process begins with extensive data mining, using authentic sources such as trade magazines, technical publications, independent studies along with paid avenues such as ICIS, Hoovers, etc.  Primary objectives of data mining include:

  • Automotive Steel Market Definition and scope of research
  • Automotive Steel Market dynamics, growth drivers and industry pitfalls
  • Automotive Steel Market Regulatory and political guidelines for the industry
  • Automotive Steel Market Demographics and statistical data

Market research reports: Key analytical components

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About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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About Author

Partha Ray    

Partha Ray

Partha is into digital marketing since the last 3 years and has worked on multiple projects across various industries. An Computer Science engineer by education, he has prior experience in software development. His other interests include playing cricket & Hockey.

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