[305 Pages Report] The global automotive structural steel market was valued at US$ 120.49 Billion in 2022 and is expected to grow at a CAGR of 3.5% in terms of revenue between 2022 and 2032, reaching US$ 169.97 Billion by 2032.
Automotive structural steel is used to provide greater strength to vehicle components. High strength of steel can be achieved by mixing alloy materials and cooling at low temperature. Additionally, automotive structural steel has excellent cold forming ability.
Therefore, it is used in the making of boom, arms of truck, and trailer frames. Stainless steel is mainly used to make exhaust systems of automotive vehicles owing to its impressive surface finishing and admirable corrosion resistance.
| Report Attribute | Details |
|---|---|
| Estimated Base Year Value (2021) | US$ 116.42 Billion |
| Expected Market Value (2022) | US$ 120.49 Billion |
| Anticipated Forecast Value (2032) | US$ 169.97 Billion |
| Projected Growth Rate (2022 to 2032) | 3.5% CAGR |
Stainless steel is a high-value added steel product that can be used in various applications without any separate treatment. Approximately, 34% automotive structural steel is used for body structures, panels, doors, and trunk closures, 23% automotive structural steel is used for drive train components, engine component, and gears, 12% is used for suspension units, and the remaining is used for tyres, wheels, steering, breaking system, and fuel tanks.
Ultra-high strength steel is keenly used in the making of B-pillar and front cross parts of automotive vehicles. High-strength steel has a good balance of strength, formability, energy absorption, and durability. Therefore, it is used in the making of roof and side panels of automotive vehicles.
Automotive structural steel makers are deliberately using lightweight alloy materials with automotive structural steel in a bid to increase the physical property of vehicle components i.e., strength, ductility, toughness and fatigue and make a significant cornerstone among the customers, clientele, and in the global automotive structural steel market.
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The increasing demand for eco-friendly vehicles, coupled with the increasing production of automotive vehicles is expected to drive the automotive structural steel market during the forecast period. Moreover, supportive government regulations pertaining to overall vehicle weight and safety of passengers are also projected to boost the demand for automotive structural steel over the coming years.
Automotive structural steel makers are strongly focused on making high-performance automotive structural steel at affordable cost, to meet the stringent safety regulations and emission norms. Moreover, automakers are also using advanced high-strength steel to increase the safety of vehicles.
General Motors Company is using an advanced automotive structural steel named as Advanced High-Strength Steels (AHSS) to make 70% of its vehicles. Therefore, advanced high-strength steel has become a trend in the automotive structural steel market.
The automotive structural steel market in Europe is expected to grow at a CAGR of 2 percent. Europe is expected to grow with a sizable share in the global automotive structural steel market owing to the rising demand for passenger vehicles, coupled with imposition of regulations pertaining to emission of harmful gasses which, in turn, drive the global automotive structural market in the coming decades.
The German automotive industry is an integral and substantial part of the European automotive industry owing to the presence of industries including precision equipment, passenger cars, and heavy automotive vehicles. Moreover, the rising exports of premium cars and increasing R&D budgets for the development of premium cars is expected to propel the German automotive structural steel market in the country.
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According to the Future Market Insights analysis, North America is projected to grow at a CAGR of 3% during the forecast period. Expansion of the electric vehicles industry in the U.S., Canada, and Mexico are likely to benefit from the industry growth.
In addition, it is expected to grow with a significant growth rate in the global automotive structural steel market owing to the increasing automotive vehicle fleet, coupled with the rising awareness of lightweight eco-friendly vehicles over the forthcoming years.
Some of the key participants present in the global food tester market include POSCO, KIRCHHOFF Group, Inner Galaxy Group, thyssenkrupp AG, Advanced Structural Technologies, Inc., SSAB, Waldaschaff Automotive GmbH, KOBE STEEL, LTD., NANOSTEEL, Ternium. Attributed to the presence of such a high number of participants, the market is highly competitive.
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| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 3.5% from 2022 to 2032 |
| Market Value in 2022 | US$ 120.49 Billion |
| Market Value in 2032 | US$ 169.97 Billion |
| Base Year for Estimation | 2021 |
| Historical Data | 2017 to 2021 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in USD Million and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Segments Covered |
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| Regions Covered |
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| Key Countries Profiled |
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| Key Companies Profiled |
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| Customization | Available Upon Request |
FMI projects the global automotive structural steel market to expand at a 3.5% value CAGR by 2032
North America is expected to be the most opportunistic automotive structural steel market, expanding at a 3% CAGR
Lyckeby, Cargill Inc., BASF, DowDuPont, Lanxess Aktiengesellschaft, Mitsui Chemicals, Shell International, Covestro, Stepan Company, Sweetener Products POSCO, KIRCHHOFF Group, and Inner Galaxy Group are some prominent automotive structural steel manufacturers.
1. Executive Summary 1.1. Global Market Outlook 1.2. Demand-side Trends 1.3. Supply-side Trends 1.4. Technology Roadmap Analysis 1.5. Analysis and Recommendations 2. Market Overview 2.1. Market Coverage / Taxonomy 2.2. Market Definition / Scope / Limitations 3. Market Background 3.1. Market Dynamics 3.1.1. Drivers 3.1.2. Restraints 3.1.3. Opportunity 3.1.4. Trends 3.2. Scenario Forecast 3.2.1. Demand in Optimistic Scenario 3.2.2. Demand in Likely Scenario 3.2.3. Demand in Conservative Scenario 3.3. Opportunity Map Analysis 3.4. Product Life Cycle Analysis 3.5. Supply Chain Analysis 3.5.1. Supply Side Participants and their Roles 3.5.1.1. Producers 3.5.1.2. Mid-Level Participants (Traders/ Agents/ Brokers) 3.5.1.3. Wholesalers and Distributors 3.5.2. Value Added and Value Created at Node in the Supply Chain 3.5.3. List of Raw Material Suppliers 3.5.4. List of Existing and Potential Buyer’s 3.6. Investment Feasibility Matrix 3.7. Value Chain Analysis 3.7.1. Profit Margin Analysis 3.7.2. Wholesalers and Distributors 3.7.3. Retailers 3.8. PESTLE and Porter’s Analysis 3.9. Regulatory Landscape 3.9.1. By Key Regions 3.9.2. By Key Countries 3.10. Regional Parent Market Outlook 3.11. Production and Consumption Statistics 3.12. Import and Export Statistics 4. Global Automotive Structural Steel Market Analysis 2017-2021 and Forecast, 2022-2032 4.1. Historical Market Size Value (US$ Mn) & Volume (Tons) Analysis, 2017-2021 4.2. Current and Future Market Size Value (US$ Mn) & Volume (Tons) Projections, 2022-2032 4.2.1. Y-o-Y Growth Trend Analysis 4.2.2. Absolute $ Opportunity Analysis 5. Global Automotive Structural Steel Market Analysis 2017-2021 and Forecast 2022-2032, By Manufacturing Process 5.1. Introduction / Key Findings 5.2. Historical Market Size Value (US$ Mn) & Volume (Tons) Analysis By Manufacturing Process, 2017-2021 5.3. Current and Future Market Size Value (US$ Mn) & Volume (Tons) Analysis and Forecast By Manufacturing Process, 2022-2032 5.3.1. Cold Rolling 5.3.2. Hot Rolling 5.4. Y-o-Y Growth Trend Analysis By Manufacturing Process, 2017-2021 5.5. Absolute $ Opportunity Analysis By Manufacturing Process, 2022-2032 6. Global Automotive Structural Steel Market Analysis 2017-2021 and Forecast 2022-2032, By Product Type 6.1. Introduction / Key Findings 6.2. Historical Market Size Value (US$ Mn) & Volume (Tons) Analysis By Product Type, 2017-2021 6.3. Current and Future Market Size Value (US$ Mn) & Volume (Tons) Analysis and Forecast By Product Type, 2022-2032 6.3.1. Galvanized Steel 6.3.2. Stainless Steel 6.3.3. High-Strength Steel 6.3.4. Mild Carbon Steel 6.3.5. Ultra-High Speed Steel 6.4. Y-o-Y Growth Trend Analysis By Product Type, 2017-2021 6.5. Absolute $ Opportunity Analysis By Product Type, 2022-2032 7. Global Automotive Structural Steel Market Analysis 2017-2021 and Forecast 2022-2032, By Vehicle Component 7.1. Introduction / Key Findings 7.2. Historical Market Size Value (US$ Mn) & Volume (Tons) Analysis By Vehicle Component, 2017-2021 7.3. Current and Future Market Size Value (US$ Mn) & Volume (Tons) Analysis and Forecast By Vehicle Component, 2022-2032 7.3.1. Body Structure Components (panels, roof, door, trunk lid & other) 7.3.2. Drivetrain Components 7.3.3. Under Chassis Components 7.4. Y-o-Y Growth Trend Analysis By Vehicle Component, 2017-2021 7.5. Absolute $ Opportunity Analysis By Vehicle Component, 2022-2032 8. Global Automotive Structural Steel Market Analysis 2017-2021 and Forecast 2022-2032, By Vehicle Type 8.1. Introduction / Key Findings 8.2. Historical Market Size Value (US$ Mn) & Volume (Tons) Analysis By Vehicle Type, 2017-2021 8.3. Current and Future Market Size Value (US$ Mn) & Volume (Tons) Analysis and Forecast By Vehicle Type, 2022-2032 8.3.1. Passenger Car 8.3.2. Light Commercial Vehicle (LCV) 8.3.3. Heavy Commercial Vehicle (HCV) 8.3.4. Two Wheeler 8.4. Y-o-Y Growth Trend Analysis By Vehicle Type, 2017-2021 8.5. Absolute $ Opportunity Analysis By Vehicle Type, 2022-2032 9. Global Automotive Structural Steel Market Analysis 2017-2021 and Forecast 2022-2032, By Region 9.1. Introduction 9.2. Historical Market Size Value (US$ Mn) & Volume (Tons) Analysis By Region, 2017-2021 9.3. Current Market Size Value (US$ Mn) & Volume (Tons) Analysis and Forecast By Region, 2022-2032 9.3.1. North America 9.3.2. Latin America 9.3.3. Europe 9.3.4. Asia Pacific 9.3.5. MEA 9.4. Market Attractiveness Analysis By Region 10. North America Automotive Structural Steel Market Analysis 2017-2021 and Forecast 2022-2032, By Country 10.1. Historical Market Size Value (US$ Mn) & Volume (Tons) Trend Analysis By Market Taxonomy, 2017-2021 10.2. Market Size Value (US$ Mn) & Volume (Tons) Forecast By Market Taxonomy, 2022-2032 10.2.1. By Country 10.2.1.1. U.S. 10.2.1.2. Canada 10.2.2. By Manufacturing Process 10.2.3. By Product Type 10.2.4. By Vehicle Component 10.2.5. By Vehicle Type 10.3. Market Attractiveness Analysis 10.3.1. By Country 10.3.2. By Manufacturing Process 10.3.3. By Product Type 10.3.4. By Vehicle Component 10.3.5. By Vehicle Type 10.4. Key Takeaways 11. Latin America Automotive Structural Steel Market Analysis 2017-2021 and Forecast 2022-2032, By Country 11.1. Historical Market Size Value (US$ Mn) & Volume (Tons) Trend Analysis By Market Taxonomy, 2017-2021 11.2. Market Size Value (US$ Mn) & Volume (Tons) Forecast By Market Taxonomy, 2022-2032 11.2.1. By Country 11.2.1.1. Brazil 11.2.1.2. Mexico 11.2.1.3. Rest of Latin America 11.2.2. By Manufacturing Process 11.2.3. By Product Type 11.2.4. By Vehicle Component 11.2.5. By Vehicle Type 11.3. Market Attractiveness Analysis 11.3.1. By Country 11.3.2. By Manufacturing Process 11.3.3. By Product Type 11.3.4. By Vehicle Component 11.3.5. By Vehicle Type 11.4. Key Takeaways 12. Europe Automotive Structural Steel Market Analysis 2017-2021 and Forecast 2022-2032, By Country 12.1. Historical Market Size Value (US$ Mn) & Volume (Tons) Trend Analysis By Market Taxonomy, 2017-2021 12.2. Market Size Value (US$ Mn) & Volume (Tons) Forecast By Market Taxonomy, 2022-2032 12.2.1. By Country 12.2.1.1. Germany 12.2.1.2. U.K. 12.2.1.3. France 12.2.1.4. Spain 12.2.1.5. Italy 12.2.1.6. Rest of Europe 12.2.2. By Manufacturing Process 12.2.3. By Product Type 12.2.4. By Vehicle Component 12.2.5. By Vehicle Type 12.3. Market Attractiveness Analysis 12.3.1. By Country 12.3.2. By Manufacturing Process 12.3.3. By Product Type 12.3.4. By Vehicle Component 12.3.5. By Vehicle Type 12.4. Key Takeaways 13. Asia Pacific Automotive Structural Steel Market Analysis 2017-2021 and Forecast 2022-2032, By Country 13.1. Historical Market Size Value (US$ Mn) & Volume (Tons) Trend Analysis By Market Taxonomy, 2017-2021 13.2. Market Size Value (US$ Mn) & Volume (Tons) Forecast By Market Taxonomy, 2022-2032 13.2.1. By Country 13.2.1.1. China 13.2.1.2. Japan 13.2.1.3. South Korea 13.2.1.4. Malaysia 13.2.1.5. Singapore 13.2.1.6. Australia 13.2.1.7. New Zealand 13.2.1.8. Rest of APAC 13.2.2. By Manufacturing Process 13.2.3. By Product Type 13.2.4. By Vehicle Component 13.2.5. By Vehicle Type 13.3. Market Attractiveness Analysis 13.3.1. By Country 13.3.2. By Manufacturing Process 13.3.3. By Product Type 13.3.4. By Vehicle Component 13.3.5. By Vehicle Type 13.4. Key Takeaways 14. MEA Automotive Structural Steel Market Analysis 2017-2021 and Forecast 2022-2032, By Country 14.1. Historical Market Size Value (US$ Mn) & Volume (Tons) Trend Analysis By Market Taxonomy, 2017-2021 14.2. Market Size Value (US$ Mn) & Volume (Tons) Forecast By Market Taxonomy, 2022-2032 14.2.1. By Country 14.2.1.1. GCC Countries 14.2.1.2. South Africa 14.2.1.3. Israel 14.2.1.4. Rest of MEA 14.2.2. By Manufacturing Process 14.2.3. By Product Type 14.2.4. By Vehicle Component 14.2.5. By Vehicle Type 14.3. Market Attractiveness Analysis 14.3.1. By Country 14.3.2. By Manufacturing Process 14.3.3. By Product Type 14.3.4. By Vehicle Component 14.3.5. By Vehicle Type 14.4. Key Takeaways 15. Key Countries Automotive Structural Steel Market Analysis 15.1. U.S. 15.1.1. Pricing Analysis 15.1.2. Market Share Analysis, 2021 15.1.2.1. By Manufacturing Process 15.1.2.2. By Product Type 15.1.2.3. By Vehicle Component 15.1.2.4. By Vehicle Type 15.2. Canada 15.2.1. Pricing Analysis 15.2.2. Market Share Analysis, 2021 15.2.2.1. By Manufacturing Process 15.2.2.2. By Product Type 15.2.2.3. By Vehicle Component 15.2.2.4. By Vehicle Type 15.3. Brazil 15.3.1. Pricing Analysis 15.3.2. Market Share Analysis, 2021 15.3.2.1. By Manufacturing Process 15.3.2.2. By Product Type 15.3.2.3. By Vehicle Component 15.3.2.4. By Vehicle Type 15.4. Mexico 15.4.1. Pricing Analysis 15.4.2. Market Share Analysis, 2021 15.4.2.1. By Manufacturing Process 15.4.2.2. By Product Type 15.4.2.3. By Vehicle Component 15.4.2.4. By Vehicle Type 15.5. Germany 15.5.1. Pricing Analysis 15.5.2. Market Share Analysis, 2021 15.5.2.1. By Manufacturing Process 15.5.2.2. By Product Type 15.5.2.3. By Vehicle Component 15.5.2.4. By Vehicle Type 15.6. U.K. 15.6.1. Pricing Analysis 15.6.2. Market Share Analysis, 2021 15.6.2.1. By Manufacturing Process 15.6.2.2. By Product Type 15.6.2.3. By Vehicle Component 15.6.2.4. By Vehicle Type 15.7. France 15.7.1. Pricing Analysis 15.7.2. Market Share Analysis, 2021 15.7.2.1. By Manufacturing Process 15.7.2.2. By Product Type 15.7.2.3. By Vehicle Component 15.7.2.4. By Vehicle Type 15.8. Spain 15.8.1. Pricing Analysis 15.8.2. Market Share Analysis, 2021 15.8.2.1. By Manufacturing Process 15.8.2.2. By Product Type 15.8.2.3. By Vehicle Component 15.8.2.4. By Vehicle Type 15.9. Italy 15.9.1. Pricing Analysis 15.9.2. Market Share Analysis, 2021 15.9.2.1. By Manufacturing Process 15.9.2.2. By Product Type 15.9.2.3. By Vehicle Component 15.9.2.4. By Vehicle Type 15.10. China 15.10.1. Pricing Analysis 15.10.2. Market Share Analysis, 2021 15.10.2.1. By Manufacturing Process 15.10.2.2. By Product Type 15.10.2.3. By Vehicle Component 15.10.2.4. By Vehicle Type 15.11. Japan 15.11.1. Pricing Analysis 15.11.2. Market Share Analysis, 2021 15.11.2.1. By Manufacturing Process 15.11.2.2. By Product Type 15.11.2.3. By Vehicle Component 15.11.2.4. By Vehicle Type 15.12. South Korea 15.12.1. Pricing Analysis 15.12.2. Market Share Analysis, 2021 15.12.2.1. By Manufacturing Process 15.12.2.2. By Product Type 15.12.2.3. By Vehicle Component 15.12.2.4. By Vehicle Type 15.13. Malaysia 15.13.1. Pricing Analysis 15.13.2. Market Share Analysis, 2021 15.13.2.1. By Manufacturing Process 15.13.2.2. By Product Type 15.13.2.3. By Vehicle Component 15.13.2.4. By Vehicle Type 15.14. Singapore 15.14.1. Pricing Analysis 15.14.2. Market Share Analysis, 2021 15.14.2.1. By Manufacturing Process 15.14.2.2. By Product Type 15.14.2.3. By Vehicle Component 15.14.2.4. By Vehicle Type 15.15. Australia 15.15.1. Pricing Analysis 15.15.2. Market Share Analysis, 2021 15.15.2.1. By Manufacturing Process 15.15.2.2. By Product Type 15.15.2.3. By Vehicle Component 15.15.2.4. By Vehicle Type 15.16. New Zealand 15.16.1. Pricing Analysis 15.16.2. Market Share Analysis, 2021 15.16.2.1. By Manufacturing Process 15.16.2.2. By Product Type 15.16.2.3. By Vehicle Component 15.16.2.4. By Vehicle Type 15.17. GCC Countries 15.17.1. Pricing Analysis 15.17.2. Market Share Analysis, 2021 15.17.2.1. By Manufacturing Process 15.17.2.2. By Product Type 15.17.2.3. By Vehicle Component 15.17.2.4. By Vehicle Type 15.18. South Africa 15.18.1. Pricing Analysis 15.18.2. Market Share Analysis, 2021 15.18.2.1. By Manufacturing Process 15.18.2.2. By Product Type 15.18.2.3. By Vehicle Component 15.18.2.4. By Vehicle Type 15.19. Israel 15.19.1. Pricing Analysis 15.19.2. Market Share Analysis, 2021 15.19.2.1. By Manufacturing Process 15.19.2.2. By Product Type 15.19.2.3. By Vehicle Component 15.19.2.4. By Vehicle Type 16. Market Structure Analysis 16.1. Competition Dashboard 16.2. Competition Benchmarking 16.3. Market Share Analysis of Top Players 16.3.1. By Regional 16.3.2. By Manufacturing Process 16.3.3. By Product Type 16.3.4. By Vehicle Component 16.3.5. By Vehicle Type 17. Competition Analysis 17.1. Competition Deep Dive 17.1.1. POSCO 17.1.1.1. Overview 17.1.1.2. Product Portfolio 17.1.1.3. Profitability by Market Segments 17.1.1.4. Sales Footprint 17.1.1.5. Strategy Overview 17.1.1.5.1. Marketing Strategy 17.1.1.5.2. Product Strategy 17.1.1.5.3. Channel Strategy 17.1.2. KIRCHHOFF Group 17.1.2.1. Overview 17.1.2.2. Product Portfolio 17.1.2.3. Profitability by Market Segments 17.1.2.4. Sales Footprint 17.1.2.5. Strategy Overview 17.1.2.5.1. Marketing Strategy 17.1.2.5.2. Product Strategy 17.1.2.5.3. Channel Strategy 17.1.3. Inner Galaxy Group 17.1.3.1. Overview 17.1.3.2. Product Portfolio 17.1.3.3. Profitability by Market Segments 17.1.3.4. Sales Footprint 17.1.3.5. Strategy Overview 17.1.3.5.1. Marketing Strategy 17.1.3.5.2. Product Strategy 17.1.3.5.3. Channel Strategy 17.1.4. thyssenkrupp AG 17.1.4.1. Overview 17.1.4.2. Product Portfolio 17.1.4.3. Profitability by Market Segments 17.1.4.4. Sales Footprint 17.1.4.5. Strategy Overview 17.1.4.5.1. Marketing Strategy 17.1.4.5.2. Product Strategy 17.1.4.5.3. Channel Strategy 17.1.5. Advanced Structural Technologies, Inc. 17.1.5.1. Overview 17.1.5.2. Product Portfolio 17.1.5.3. Profitability by Market Segments 17.1.5.4. Sales Footprint 17.1.5.5. Strategy Overview 17.1.5.5.1. Marketing Strategy 17.1.5.5.2. Product Strategy 17.1.5.5.3. Channel Strategy 17.1.6. SSAB 17.1.6.1. Overview 17.1.6.2. Product Portfolio 17.1.6.3. Profitability by Market Segments 17.1.6.4. Sales Footprint 17.1.6.5. Strategy Overview 17.1.6.5.1. Marketing Strategy 17.1.6.5.2. Product Strategy 17.1.6.5.3. Channel Strategy 17.1.7. Waldaschaff Automotive GmbH 17.1.7.1. Overview 17.1.7.2. Product Portfolio 17.1.7.3. Profitability by Market Segments 17.1.7.4. Sales Footprint 17.1.7.5. Strategy Overview 17.1.7.5.1. Marketing Strategy 17.1.7.5.2. Product Strategy 17.1.7.5.3. Channel Strategy 17.1.8. KOBE STEEL, LTD. 17.1.8.1. Overview 17.1.8.2. Product Portfolio 17.1.8.3. Profitability by Market Segments 17.1.8.4. Sales Footprint 17.1.8.5. Strategy Overview 17.1.8.5.1. Marketing Strategy 17.1.8.5.2. Product Strategy 17.1.8.5.3. Channel Strategy 17.1.9. NANOSTEEL 17.1.9.1. Overview 17.1.9.2. Product Portfolio 17.1.9.3. Profitability by Market Segments 17.1.9.4. Sales Footprint 17.1.9.5. Strategy Overview 17.1.9.5.1. Marketing Strategy 17.1.9.5.2. Product Strategy 17.1.9.5.3. Channel Strategy 17.1.10. Ternium 17.1.10.1. Overview 17.1.10.2. Product Portfolio 17.1.10.3. Profitability by Market Segments 17.1.10.4. Sales Footprint 17.1.10.5. Strategy Overview 17.1.10.5.1. Marketing Strategy 17.1.10.5.2. Product Strategy 17.1.10.5.3. Channel Strategy 18. Assumptions & Acronyms Used 19. Research Methodology
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Automotive Structural Steel Market
