Market Size of Asia Pacific Automotive AHSS Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | > 10.20 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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APAC Sutomotive AHSS Market Analysis
The Asia Pacific Automotive AHSS Market is expected to register a CAGR greater than 10.2% during the forecast period (2020 - 2025).
The demand for reducing the weight to enhance vehicle performance and safety is growing in the world, and Asia Pacific fastest growing market for AHSS Market. As a result, Advanced High Strength Steel (AHSS), which is a crucial material for mass vehicle reduction and, is the fastest-growing material in current automotive industry.
Steel makes up around 70 % of an average automobile's weight. Compared to standard steel, AHSS enable to reduce vehicle weight by 23-35% which is around 165 to 250 kg, for a regular passenger car, saving 3 - 4.5 tons of greenhouse gases over the vehicle's total life cycle. This saving in emissions is much more substantial than the CO2 emitted during the complete production of steel needed in a car.
Also, with the emergence of electric vehicles and an increasing ban on diesel vehicles production of gasoline and diesel engine, may face negative growth. However, AHSS will remain a driving factor due to its application in an alternative fuel vehicle market.
