Automotive Steel Market By Vehicle Type (Passenger Vehicles, Light Commercial Vehicles, Heavy Commercial Vehicles), By Type (Mild Steel, Alloy Steel, High Strength Steel, Advanced High Strength), By Application (Body-in-White, Drive Train, Suspension, Others) - Growth, Future Prospects & Competitive Analysis, 2018 – 2026
Automotive Steel is being used as stamping among automakers globally, to achieve desired strength standards along with safety of vehicles at lower costs. The metallurgical designation of vehicles incorporates the use of low-strength steels, conventional high strength steel (HSS) and the new advanced high strength steel (AHSS). Emphasis on reduction of greenhouse gas as well as enhancing the fuel efficiency among the transportation industry has led to development of high strength steel with improved features such as formability and crash worthiness (performance of vehicles in protecting its occupants in terms of crash). There is increased use of advanced high strength steel owing to its excellent mechanical properties such as higher strain hardening capacity, toughness, ductility and fatigue properties. With the rapid adoption of steel, automotive manufacturers achieved certain standards of strength and safety of vehicles at lower costs.
There is increased demand of light weight steels among industry players in order to enhance the safety and fuel economy of vehicles. This has forced steel manufacturers to develop materials with properties such as manufacturability, durability, quality as well as costs. The development of AHSS (advanced high strength steel) has catered to the growing industry challenges of meeting strength for diverse performance of vehicle components. This growth of the market is also attributed to rapid need for reducing the vehicle mass by optimization of the vehicle designs and in turn enhancing the fuel efficiency. In addition to it, improved crash performance offered by the use of advanced high strength steel is another driving factor for the market. Regulations pertaining to pollutant emission limits of diesel and petrol vehicles as well as fuel economy standards to reduce energy consumption also surge the product demand and thereby drive the market. Growing car ownership and rising income levels imply strong growth potential in developing economies such as India and China. However, rising scope of aluminum in automobiles manufacturing owing to its light weightness and compliance to favorable regulatory environment is expected to hinder the global automotive steel market in coming years.
Geographically, Asia-Pacific, dominated the market in 2017 and is projected to continue its dominance during the forecast period on account of rising disposable income, new launches by original equipment manufacturers (OEM) as well as rising investments towards the development of infrastructure and growing need for commercial vehicles for transportation purposes. Additionally, increasing sales of low-priced cars which heavily incorporates steel and its components further propels the market growth. Apart from this, Europe and North America is expected to be the other major markets after Asia-Pacific owing to rapid industrialization, high urban population, improving GDP growth rate in countries such as U.S. and Canada, is projected to positively impact the automotive sector and in turn lead to increased steel demand. Latin America and Middle East and Africa are witnessing technological advancements as well as shift in consumer lifestyles which is bound to grow the market during the forecast period.
Some of the key players profiled in the market include include ArcelorMittal, United States Steel Corporation, Severstal, Baosteel, JFE Steel Corporation, Nippon Steel, POSCO, ThyssenKrupp, Hesteel Group and TimkenSteel.
On the basis of its vehicle type, the global automotive steel market is categorized into following segments:
- Passenger Vehicles
- Light Commercial Vehicles
- Heavy Commercial Vehicles
Automotive manufacturers are involved in designing light weight vehicles with more fuel efficient engines so as to reduce fleet consumption in accordance with legal regulations which has led to the utilization of advanced high strength steels (AHSS) in passenger vehicles. These steels improve crash performance and long term durability of the small sized vehicles. Therefore, passenger cars dominated the market in 2017 and is projected to maintain its dominance in the years to come owing to the rising sales of passenger cars coupled with rise in per capita income of consumers in developing countries such as India, China and Brazil.
Moreover, medium and heavy duty trucks is projected to exhibit potential growth in the near future as these vehicles are used for purposes such as freight movement, towing and off road purposes. Therefore, high strength steels are increasingly use in automobiles while designing so as to meet safety and crash-test ratings which is expected to boost the global automotive steel market.
On the basis of its type, the global automotive steel market is categorized into following segments:
- Mild Steel
- Alloy Steel
- High Strength Steel
- Advanced High Strength Steel (AHSS)
In 2017, high strength steels accounted for a significant share of the market and is expected to remain dominant throughout the forecast period. High strength steels are carbon manganese strengthened steel consisting of other micro alloying segment namely titanium, vanadium, or niobium etc. These steels find vast utilization among vehicles in body closures as well as in energy absorbing areas. Enhancement of electric motors efficiency, range and power with the use of high strength steels are some of the other factors driving the market.
Advanced high strength steels (AHSS) are being rapidly adopted among vehicles as compared to its counterparts such as aluminum, magnesium and composites as its utilization generates 20 times lesser carbon dioxide. Further, implementation of AHSS tends to reduce the vehicle weight by 10%-20%, thus driving the market growth. Additionally, AHSS is easily stamped and molded into new parts without the need for additional investments in infrastructure. Currently, certain industry players such as General Motors subsidiary of Chevrolet, have successfully incorporated the use AHSS for its 2016 Chevrolet Malibu to ease the four-inch wheelbase stretch and in turn reduce the 300 pounds of weight when compared to earlier 2015 model. Apart from this, lesser carbon foot print achieved through the use of AHSS attracts car makers and car owners towards its increased adoption in vehicle manufacturing and in turn stimulating the market demand.
On the basis of its applications, the global automotive steel market is categorized into following segments:
- Body-in-White
- Drive Train
- Suspension
- Others
In 2017, body in white segment dominated the market and is projected to maintain its dominance throughout the forecast period. Body-in white (BIW) is a stage in the manufacturing of automobiles, where the metal components of vehicles are welded together. Hood (frame and panel), floor and other panels, roof frame, tunnel, doors, rear side panels are some of the metal components where steel penetration is high. Enabling the use of advanced high strength steel in BIW makes the vehicle cost effective, light weight, enhance aesthetics of outer panels and the vehicles lifetime. Moreover, the fuel economy standards laid down by original equipment manufacturers (OEM’s) has further lead to the demand of lightweight steels with higher strength such as advanced high strength steel in body-in white applications. Currently, rising promotion of budget cars owing to tax incentives on small cars is significantly encouraging the use of higher strength steel in vehicle body and parts owing to its lesser cost which in turn drives the market.
Steel offer a light weight solution for vehicles suspension components such as suspension arms, torsion bars, springs and linkages. Therefore, suspension segment is expected to exhibit major growth potential during the forecast period. Increasing use of high carbon steel for the manufacture of helical springs of suspension systems, so as to obtain high stiffness and light weight is expected to fuel the market demand over the forecast years.
Based on geographical distribution, the global automotive steel market is segmented into following categories:
- North America
- U.S.
- Canada
- Europe
- Germany
- Spain
- France
- UK
- Rest of Europe
- Asia Pacific
- Japan
- China
- India
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC
- Rest of Middle East & Africa
Asia-Pacific dominated the market in 2017, and is expected to maintain its dominance throughout the forecast period. Increasing launches of heavy and medium duty vehicles by original equipment manufacturers (OEM’s), investments towards infrastructure, rising disposable incomes are some factors surging the market growth. Additionally, low interest rates over vehicle purchase leading to increased consumer confidence as well as need for commercial vehicles for transportation is further driving the market in this region. Rising sales of low-priced/budget cars due to its low maintenance, enhanced life and cost-effectiveness has diverted the attention of manufacturers in Asia-Pacific towards heavier investments on small cars, which enhances the use of steel. In addition to it, investment boosting reforms such as “Make in India” in countries such as India led to increase in FDI, boosting vehicle production and in turn contributing to wide steel consumption among automotive industry. However, demand for steel is poised to improve in European and North American regions on account of reviving industrial production and better investment prospects in these regions. Latin America and Middle East and Africa (MEA) are expected to show average growth rate during the forecast period. Construction was the dominating sector in this region and production of steel in this region was based on demand by the construction sector. Therefore, automotive industry in these regions is highly dependent on construction activities such as in Brazil, as production of long steel is based on requirements by construction industry. However, declining construction activities in this region is expected to hamper the production of steel as well as market growth in the coming years.
Chapter 1. Preface
1.1. Report Scope and Description
1.1.1. Purpose of the Report
1.1.2. Target Audience
1.1.3. USP and Key Offering
1.2. Research Scope
1.3. Research Methodology
1.3.1. Phase I-Secondary Research
1.3.2. Phase II-Primary Research
1.3.3. Phase II-Expert Panel Review
1.3.4. Top Down & Bottom Up Approach
1.3.5. Assumptions
1.4. Market Segmentation
Chapter 2. Executive Summary
2.1. Global Automotive Steel Market Portraiture
2.1.1. Global Automotive Steel Market, by Type, 2017
2.1.2. Global Automotive Steel Market, by Vehicle Type, 2017
2.1.3. Global Automotive Steel Market, by Application, 2017
2.1.4. Global Automotive Steel Market, by Geography, 2017
Chapter 3. Automotive Steel Market: Market Dynamics and Future Outlook
3.1. Market Overview
3.2. Drivers
3.3. Challenges
3.4. Opportunities
3.5. Regulatory Analysis
3.6. Key Positioning of Market Players
3.7. Attractive Investment Proposition, by Geography
Chapter 4. Global Automotive Steel Market, by Type, 2016 – 2026 (Kilotons, US$ Mn)
4.1. Overview
4.1.1. Attractive Investment Proposition: Global Automotive Steel Market, by Type
4.2. Mild Steel
4.3. Alloy Steel
4.4. High Strength Steel
4.5. Advanced High Strength Steel (AHSS)
Chapter 5. Global Automotive Steel Market, by Vehicle Type, 2016 – 2026 (Kilotons, US$ Mn)
5.1. Overview
5.1.1. Attractive Investment Proposition: Global Automotive Steel Market, by Vehicle Type
5.2. Passenger Vehicles
5.3. Light Commercial Vehicles
5.4. Heavy Commercial Vehicles
Chapter 6. Global Automotive Steel Market, by Application, 2016 – 2026 (Kilotons, US$ Mn)
6.1. Overview
6.1.1. Attractive Investment Proposition: Global Automotive Steel Market, by Application
6.2. Body-in White
6.3. Drive Train
6.4. Suspension
6.5. Others
Chapter 7. Global Automotive Steel Market, by Geography, 2016 – 2026 (Kilotons, US$ Mn)
7.1. Overview
7.2. North America Automotive Steel Market Analysis, 2016 – 2026
7.2.1. North America Automotive Steel Market, by Type, 2016 – 2026 (Kilotons, US$ Mn)
7.2.2. North America Automotive Steel Market, by Vehicle Type, 2016 – 2026 (Kilotons, US$ Mn)
7.2.3. North America Automotive Steel Market, by Application, 2016 – 2026 (Kilotons, US$ Mn)
7.2.4. North America Automotive Steel Market, by Country, 2016 – 2026 (Kilotons, US$ Mn)
7.2.4.1. U.S.
7.2.4.2. Canada
7.3. Europe Automotive Steel Market Analysis, 2016 – 2026
7.3.1. Europe Automotive Steel Market, by Type, 2016 – 2026 (Kilotons, US$ Mn)
7.3.2. Europe Automotive Steel Market, by Vehicle Type, 2016 – 2026 (Kilotons, US$ Mn)
7.3.3. Europe Automotive Steel Market, by Application, 2016 – 2026 (Kilotons, US$ Mn)
7.3.4. Europe Automotive Steel Market, by Country, 2016 – 2026 (Kilotons, US$ Mn)
7.3.4.1. U.K.
7.3.4.2. Germany
7.3.4.3. Spain
7.3.4.4. France
7.3.4.5. Rest of Europe
7.4. Asia Pacific Automotive Steel Market Analysis, 2016 – 2026
7.4.1. Asia Pacific Automotive Steel Market, by Type, 2016 – 2026 (Kilotons, US$ Mn)
7.4.2. Asia Pacific Automotive Steel Market, by Vehicle Type, 2016 – 2026 (Kilotons, US$ Mn)
7.4.3. Asia Pacific Automotive Steel Market, by Application, 2016 – 2026 (Kilotons, US$ Mn)
7.4.4. Asia Pacific Automotive Steel Market, by Country, 2016 – 2026 (Kilotons, US$ Mn)
7.4.4.1. Japan
7.4.4.2. China
7.4.4.3. India
7.4.4.4. Rest of APAC
7.5. Latin America Automotive Steel Market Analysis, 2016 – 2026
7.5.1. Latin America Automotive Steel Market, by Type, 2016 – 2026 (Kilotons, US$ Mn)
7.5.2. Latin America Automotive Steel Market, by Vehicle Type, 2016 – 2026 (Kilotons, US$ Mn)
7.5.3. Latin America Automotive Steel Market, by Application, 2016 – 2026 (Kilotons, US$ Mn)
7.5.4. Latin America Automotive Steel Market, by Country, 2016 – 2026 (Kilotons, US$ Mn)
7.5.4.1. Brazil
7.5.4.2. Mexico
7.5.4.3. Rest of Latin America
7.6. Middle East & Africa (MEA) Automotive Steel Market Analysis, 2016 – 2026
7.6.1. Middle East and Africa Automotive Steel Market, by Type, 2016 – 2026 (Kilotons, US$ Mn)
7.6.2. Middle East and Africa Automotive Steel Market, by Vehicle Type, 2016 – 2026 (Kilotons, US$ Mn)
7.6.3. Middle East and Africa Automotive Steel Market, by Application, 2016 – 2026 (Kilotons, US$ Mn)
7.6.4. Middle East and Africa Automotive Steel Market, by Region, 2016 – 2026 (Kilotons, US$ Mn)
7.6.4.1. GCC
7.6.4.2. Rest of MEA
Chapter 8. Company Profiles
8.1. ArcelorMittal
8.1.1. Business Description
8.1.2. Financial Information (Subject to data availability)
8.1.3. Product Portfolio
8.1.4. Key Developments
8.2. Baosteel
8.2.1. Business Description
8.2.2. Financial Information (Subject to data availability)
8.2.3. Product Portfolio
8.2.4. Key Developments
8.3. Hesteel Group
8.3.1. Business Description
8.3.2. Financial Information (Subject to data availability)
8.3.3. Product Portfolio
8.3.4. Key Developments
8.4. JFE Steel Corporation
8.4.1. Business Description
8.4.2. Financial Information (Subject to data availability)
8.4.3. Product Portfolio
8.4.4. Key Developments
8.5. Nippon Steel
8.5.1. Business Description
8.5.2. Financial Information (Subject to data availability)
8.5.3. Product Portfolio
8.5.4. Key Developments
8.6. POSCO
8.6.1. Business Description
8.6.2. Financial Information (Subject to data availability)
8.6.3. Product Portfolio
8.6.4. Key Developments
8.7. Severstal
8.7.1. Business Description
8.7.2. Financial Information (Subject to data availability)
8.7.3. Product Portfolio
8.7.4. Key Developments
8.8. ThyssenKrupp
8.8.1. Business Description
8.8.2. Financial Information (Subject to data availability)
8.8.3. Product Portfolio
8.8.4. Key Developments
8.9. TimkenSteel
8.9.1. Business Description
8.9.2. Financial Information (Subject to data availability)
8.9.3. Product Portfolio
8.9.4. Key Developments
8.10. United States Steel Corporation
8.10.1. Business Description
8.10.2. Financial Information (Subject to data availability)
8.10.3. Product Portfolio
8.10.4. Key Developments
TABLE 1 Global Automotive Steel Market, by Type, 2016 – 2026 (Kilotons, US$ Mn)
TABLE 2 Global Automotive Steel Market, by Vehicle Type, 2016 – 2026 (Kilotons, US$ Mn)
TABLE 3 Global Automotive Steel Market, by Application, 2016 – 2026 (Kilotons, US$ Mn)
TABLE 4 Global Automotive Steel Market, by Geography, 2016 – 2026 (Kilotons, US$ Mn)
TABLE 5 North America Automotive Steel Market, by Type, 2016 – 2026 (Kilotons, US$ Mn)
TABLE 6 North America Automotive Steel Market, by Vehicle Type, 2016 – 2026 (Kilotons, US$ Mn)
TABLE 7 North America Automotive Steel Market, by Application, 2016 – 2026 (Kilotons, US$ Mn)
TABLE 8 North America Automotive Steel Market, by Country, 2016 – 2026 (Kilotons, US$ Mn)
TABLE 9 Europe Automotive Steel Market, by Type, 2016 – 2026 (Kilotons, US$ Mn)
TABLE 10 Europe Automotive Steel Market, by Vehicle Type, 2016 – 2026 (Kilotons, US$ Mn)
TABLE 11 Europe Automotive Steel Market, by Application, 2016 – 2026 (Kilotons, US$ Mn)
TABLE 12 Europe Automotive Steel Market, by Country, 2016 – 2026 (Kilotons, US$ Mn)
TABLE 13 Asia Pacific Automotive Steel Market, by Type, 2016 – 2026 (Kilotons, US$ Mn)
TABLE 14 Asia Pacific Automotive Steel Market, by Vehicle Type, 2016 – 2026 (Kilotons, US$ Mn)
TABLE 15 Asia Pacific Automotive Steel Market, by Application, 2016 – 2026 (Kilotons, US$ Mn)
TABLE 16 Asia-Pacific Automotive Steel Market, by Country, 2016 – 2026 (Kilotons, US$ Mn)
TABLE 17 Latin America Automotive Steel Market, by Type, 2016 – 2026 (Kilotons, US$ Mn)
TABLE 18 Latin America Automotive Steel Market, by Vehicle Type, 2016 – 2026 (Kilotons, US$ Mn)
TABLE 19 Latin America Automotive Steel Market, by Application, 2016 – 2026 (Kilotons, US$ Mn)
TABLE 20 Latin America Automotive Steel Market, by Country, 2016 – 2026 (Kilotons, US$ Mn)
TABLE 21 Middle East and Africa Automotive Steel Market, by Type, 2016 – 2026 (Kilotons, US$ Mn)
TABLE 22 Middle East and Africa Automotive Steel Market, by Vehicle Type, 2016 – 2026 (Kilotons, US$ Mn)
TABLE 23 Middle East and Africa Automotive Steel Market, by Application, 2016 – 2026 (Kilotons, US$ Mn)
TABLE 24 Middle East and Africa Automotive Steel Market, by Region, 2016 – 2026 (Kilotons, US$ Mn)
TABLE 25 ArcelorMittal: Company Snapshot (Business Description; Financial Information; Product Portfolio; News Coverage)
TABLE 26 Baosteel: Company Snapshot (Business Description; Financial Information; Product Portfolio; News Coverage)
TABLE 27 Hesteel Group: Company Snapshot (Business Description; Financial Information; Product Portfolio; News Coverage)
TABLE 28 JFE Steel Corporation: Company Snapshot (Business Description; Financial Information; Product Portfolio; News Coverage)
TABLE 29 Nippon Steel: Company Snapshot (Business Description; Financial Information; Product Portfolio; News Coverage)
TABLE 30 POSCO: Company Snapshot (Business Description; Financial Information; Product Portfolio; News Coverage)
TABLE 31 Severstal: Company Snapshot (Business Description; Financial Information; Product Portfolio; News Coverage)
TABLE 32 ThyssenKrupp: Company Snapshot (Business Description; Financial Information; Product Portfolio; News Coverage)
TABLE 33 TimkenSteel: Company Snapshot (Business Description; Financial Information; Product Portfolio; News Coverage)
TABLE 34 United States Steel Corporation: Company Snapshot (Business Description; Financial Information; Product Portfolio; News Coverage)
FIG. 1 Automotive Steel: Market Segmentation
FIG. 2 Global Automotive Steel Market by Type, 2017 (Kilotons, US$ Mn),
FIG. 3 Global Automotive Steel Market, by Vehicle Type, 2017 (Kilotons, US$ Mn)
FIG. 4 Global Automotive Steel Market, by Application, 2017 (Kilotons, US$ Mn)
FIG. 5 Global Automotive Steel Market, by Geography, 2017 (Kilotons, US$ Mn)
FIG. 6 Attractive Investment Proposition, by Geography
FIG. 7 Market Competition Landscape, by Key Players, 2017
FIG. 8 Global Automotive Steel Market Share, by Type, 2017 (Value %)
FIG. 9 Global Mild Automotive Steel Market, 2016 – 2026 (Kilotons, US$ Mn)
FIG. 10 Global Alloy Automotive Steel Market, 2016 – 2026 (Kilotons, US$ Mn)
FIG. 11 Global High Strength Automotive Steel Market, 2016 – 2026 (Kilotons, US$ Mn)
FIG. 12 Global Advanced High Strength Automotive Steel Market, 2016 – 2026 (Kilotons, US$ Mn)
FIG. 13 Global Automotive Steel Market Share, by Vehicle Type, 2017 vs. 2025 (Value %)
FIG. 14 Global Automotive Steel in Passenger Vehicles Market, 2016 – 2026 (Kilotons, US$ Mn)
FIG. 15 Global Automotive Steel in Light Commercial Vehicles Market, 2016 – 2026 (Kilotons, US$ Mn)
FIG. 16 Global Automotive Steel in Heavy Commercial Vehicles Market, 2016 – 2026 (Kilotons, US$ Mn)
FIG. 17 Global Automotive Steel Market Share, by Application, 2017 vs. 2025 (Value %)
FIG. 18 Global Automotive Steel in Body-in White Market, 2016 – 2026 (Kilotons, US$ Mn)
FIG. 19 Global Automotive Steel in Drive Train Market, 2016 – 2026 (Kilotons, US$ Mn)
FIG. 20 Global Automotive Steel in Suspension Market, 2016 – 2026 (Kilotons, US$ Mn)
FIG. 21 Global Automotive Steel in Others Market, 2016 – 2026 (Kilotons, US$ Mn)
FIG. 22 Global Automotive Steel Market, by Geography, 2017 (Value %)
FIG. 23 U.S. Automotive Steel Market, 2016 – 2026 (Kilotons, US$ Mn)
FIG. 24 Canada Automotive Steel Market, 2016 – 2026 (Kilotons, US$ Mn)
FIG. 25 U.K. Automotive Steel Market, 2016 – 2026 (Kilotons, US$ Mn)
FIG. 26 Germany Automotive Steel Market, 2016 – 2026 (Kilotons, US$ Mn)
FIG. 27 Spain Automotive Steel Market, 2016 – 2026 (Kilotons, US$ Mn)
FIG. 28 France Automotive Steel Market, 2015-2025 (US$ Mn)
FIG. 29 Rest of Europe Automotive Steel Market, 2016 – 2026 (Kilotons, US$ Mn)
FIG. 30 Japan Automotive Steel Market, 2016 – 2026 (Kilotons, US$ Mn)
FIG. 31 China Automotive Steel Market, 2016 – 2026 (Kilotons, US$ Mn)
FIG. 32 India Automotive Steel Market, 2016 – 2026 (Kilotons, US$ Mn)
FIG. 33 Rest of Asia Pacific Automotive Steel Market, 2016 – 2026 (Kilotons, US$ Mn)
FIG. 34 Brazil Automotive Steel Market, 2016 – 2026 (Kilotons, US$ Mn)
FIG. 35 Mexico Automotive Steel Market, 2016 – 2026 (Kilotons, US$ Mn)
FIG. 36 Rest of Latin America Automotive Steel Market, 2016 – 2026 (Kilotons, US$ Mn)
FIG. 37 GCC Automotive Steel Market, 2016 – 2026 (Kilotons, US$ Mn)
FIG. 38 Rest of Middle East and Africa Automotive Steel Market, 2016 – 2026 (Kilotons, US$ Mn)
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