Global Advanced High Strength Steel Market 2023-2027
Technavio has been monitoring the advanced high-strength steel market and is forecast to grow by USD 13269.95 mn during 2022-2027, accelerating at a CAGR of 11.15% during the forecast period. Our report on the advanced high strength steel market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by growing demand for AHSS in the automobile industry, the growing global construction industry, and the advantages of AHSS over conventional steel.
Technavio's advanced high strength steel market is segmented as below:
By Grade Type
- Complex phase
- Transformation-induced plasticity
- Aviation and marine
- North America
- South America
- Middle East and Africa
This study identifies the rising demand in the wind energy sector as one of the prime reasons driving the advanced high strength steel market growth during the next few years. Also, increasing the use of secondary steel and increasing the use of electric arc furnaces will lead to sizable demand in the market.
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters. Our report on the advanced high strength steel market covers the following areas:
- Advanced high strength steel market sizing
- Advanced high strength steel market forecast
- Advanced high strength steel market industry analysis
Technavio's 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 market vendors that include ArcelorMittal SA, Baosteel Group Corp., Big River Steel LLC, China Steel Corp., Cleveland Cliffs Inc., HBIS Group Co. Ltd., Hyundai Steel Co., MSP Steel and Power Ltd., Nippon Steel Corp., Nucor Corp., POSCO holdings Inc., Rashtriya Ispat Nigam Ltd., SSAB AB, Steel Technologies LLC, Tata Steel Ltd., thyssenkrupp AG, United States Steel Corp., voestalpine AG, JFE Holdings Inc., and JSW STEEL Ltd. 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 all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. Technavio's market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.