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. 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 good balance of strength, formability, energy absorption, and durability. Therefore, it is used in the making of roof and side panels of automotive vehicles.
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Automotive Structural Steel Market: Dynamics
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 been become a trend in the automotive structural steel market.
Automotive Structural Steel Market: Key Participants
Some of the key market participants in the automotive structural steel market identified across the value chain are:
- POSCO
- KIRCHHOFF Group
- Inner Galaxy Group
- thyssenkrupp AG
- Advanced Structural Technologies, Inc.
- SSAB
- Waldaschaff Automotive GmbH
- KOBE STEEL, LTD.
- NANOSTEEL
- Ternium
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The report covers exhaustive analysis on:
- Automotive Structural Steel Market Segments
- Automotive Structural Steel Market Dynamics
- Automotive Structural Steel Market Size
- Supply & Demand of Automotive Structural Steel
- Current Trends/Issues/Challenges for the Automotive Structural Steel Market
- Competition & Companies involved in the Automotive Structural Steel Market
- New Technology for Automotive Structural Steel Market
- Value Chain for Automotive Structural Steel Market
Regional analysis includes:
- North America (U.S., Canada)
- Latin America (Mexico, Brazil)
- Western Europe (Germany, Italy, France, U.K, Spain)
- Eastern Europe (Poland, Russia)
- Asia Pacific (China, India, ASEAN, Australia & New Zealand)
- Japan
- Middle East and Africa (GCC Countries, S. Africa, Northern Africa)
Automotive Structural Steel Market: Segmentation
By manufacturing process, the automotive structural steel market can be segmented as:
- Cold Rolling
- Hot Rolling
By product type, the automotive structural steel market can be segmented as:
- Galvanized Steel
- Stainless Steel
- High-Strength Steel
- Mild Carbon Steel
- Ultra-High speed steel
By vehicle components, the automotive structural steel market can be segmented as:
- Body Structure Components (panels, roof, door, trunk lid & other)
- Drivetrain Components
- Under Chassis Components
By vehicle component, the automotive structural steel market can be segmented as:
- Passenger Car
- Light Commercial Vehicle (LCV)
- Heavy Commercial Vehicle (HCV)
- Two Wheeler
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Report Highlights:
- Detailed overview of the parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current, and projected market size in terms of volume and value
- Recent industry trends and developments in the global market
- Competitive landscape
- Strategies of key players and products offered in the global market
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for automotive structural steel market players to sustain and enhance their market footprint
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