Automotive AHSS Market Drivers, Trends, and Forecast by 2031

MARKET OVERVIEW

AHSS is high tensile strength steel that is consumed by manufacturers due to its lightweight, durability, efficiency, safety, and higher quality. Increase in demand for vehicles and growing advancements in technology inside and outside the vehicle are improving the safety, security, and comfort of vehicles, which in turn is driving the market. Common batch to batch irregularity will undesirably affect the automotive AHSS market. Also, large springback is observed as a problem for the manufacturers as it leads to dimensional inaccuracy, hampering the industry growth automotive AHSS market is regularly observing developing trends that are significantly subsidizing to the revenue generation. Pre-oxidation in hot-dip galvanizing process has grown traction among the industries participants to provide to the requirements of the automobile OEMs for enhanced surface quality in the vehicles.

MARKET SCOPE

The "Global Automotive AHSS Market Analysis to 2031" is a specialized and in-depth study of the automotive and transportation industry with a special focus on the global market trend analysis. The report aims to provide an overview of Automotive AHSS Market with detailed market segmentation by product, vehicle, application, and geography. The global Automotive AHSS Market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading Automotive AHSS Market players and offers key trends and opportunities in the market.

MARKET SEGMENTATION

•   Based on type, the market is segmented as dual phase, martensitic steel, boron steel, and others
  
•   On the basis of vehicle the market is segmented into passenger vehicles and commercial vehicle
  
•   Based on application, the market is segmented into body and closures, suspensions, bumper, and others
  

MARKET DYNAMICS

Drivers:

•   OEMs and other automotive part manufacturers are focusing on rising the quality, fuel economy, and safety by minimizing the costs of manufacturing is expected to drive growth of the global Automotive AHSS Market.
  
•   Technological advances and emerging markets in the developing economies is boosting the market
  

Restraints:

•   Developing trends of employing aluminum alloy light-weight parts for vehicles, and also applying parts manufactured by carbon-fiber composites is expected to restrain the growth of the market.
  

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The Automotive AHSS Market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.

The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the marketduring the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST five force analysis highlighting factors factors affecting the Automotive AHSS Market in these regions.

IMPACT OF COVID-19 on Automotive AHSS MARKET

The outbreak of the COVID-19 has severely impacted the automotive and transportation, and other related industries. The emergence of COVID-19 virus across the globe which led to lockdown scenarios has led to unprecedented series of border closures across the globe. This disruption in global supply chain is expected to leave an impact on the industry through till mid-2021. However, demand for automotive related products such as Automotive AHSS has remained unaffected as the budgets for manufacturing of vehicle had been allocated prior to the pandemic. They are making considerations about vehicle design and materials to efficiently allocate budgets for production. This is expected to drive the Automotive AHSS Market.

MARKET PLAYERS

The report covers key developments in the Automotive AHSS Market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the marketwere acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers fromAutomotive AHSS Market are anticipated to lucrative growth opportunities in the future with the rising demand for Automotive Dashboard in the global market.

The report also includes the profiles of key companies along with their SWOT analysis and market strategies in theAutomotive AHSS Market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.

•   AK Steel Holding Corporation
  
•   Arcelor Mittal S.A.
  
•   China Baowu Steel Group Corp, Ltd
  
•   Kobe Steel Ltd
  
•   POSCO
  
•   SSAB AB
  
•   Tata Steel Limited
  
•   Thyssenkrupp AG
  
•   United Steel Corportation
  
•   Baoshan Iron & Steel Co. Ltd.
  

The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.

Automotive AHSS Report Scope