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The Automotive AHSS Market is segmented by Vehicle Type (Passenger Vehicles and Commercial Vehicles), Application Type (Structural Assembly and Closures, Bumpers, Suspension, and Other Application Types), and Geography.
2018 - 2026
Fastest Growing Market:
The automotive AHSS (advanced high-strength steel) market is expected to register a CAGR of over 9.5% during the forecast period (2020 - 2025).
The automotive AHSS market is segmented on the basis of vehicle type, application type, and geography.
|Structural Assembly and Closures|
|Other Application Types|
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A recent study conducted by the Steel Recycling Institute (SRI) analyzed the importance of material production emissions in a vehicle’s lifetime environmental impact. According to the study, AHSS-intensive vehicles had lower lifecycle emissions than aluminum-intensive vehicles, for every class of vehicles tested, such as sedans, trucks, SUVs, and alternative powertrain vehicles.
New grades of AHSS enable automakers to reduce a vehicle’s weight by 25%-39%, as compared to conventional steel. The AHSS system reduces the overall weight of a vehicle by 170-270 kg, which corresponds to a lifetime saving of 3-4.5 metric ton of greenhouse gases over the vehicle’s total life cycle. This saving in emissions represents more than the total amount of CO2 emitted during the production of the total volume of steel used in the vehicle.
Due to the growing environmental concerns caused by the rising exhaust emissions, countries across the world have been significantly focusing on tackling vehicle emissions. For instance, the United States is one of the major countries, wherein the government, with the help of both departments, namely, the Environmental Protection Agency (EPA) and the National Highway Traffic Safety Administration (NHTSA), implemented vehicle emission standards.
Over the period of 2012-2016, in the US automotive industry, manufacturers were successful in meeting the emission standards set under the EPA’s Green House Gases (GHG) program. However, after 2016, a few vehicle models exceeded the limit of the emission level, as fuel consumption increased with the advanced technologies in the vehicles, since the number of components in the vehicles increased with the adoption of new technologies that lacked optimum energy consumption features.
Thus, manufacturers across the world have geared up again, to limit their current GHG emission levels, by optimizing their vehicle designs through materials, such as AHSS.
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Europe is anticipated to dominate the AHSS market until 2025. The high-revenue market value can be attributed to the presence of major automobile manufacturers and OEMs in the region. Recovery of the automobile sector post the recession period, across the region, may further support the regional growth. Within Europe, Germany is one of the prominent markets for AHSS in automobiles. The country is the largest steel producer in the EU28, with an annual production of approximately 42.4 million metric ton of crude steel in 2018. Germany is one of the fastest-growing European countries, even in the electric vehicles market. According to IEA, in 2017, Germany registered nearly 54.56 thousand units of electric vehicle (EV) sales (including battery electric vehicles (BEVs) and plug-in-hybrid vehicles (PHEVs)), indicating an increase of 121% from its EV sales rate in 2016. Future applications of AHHS in these electric vehicles are also expected to drive the market.
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The major companies in the automotive AHSS market include ArcelorMittal SA, ThyssenKrupp AG, SSAB AB, Kobe Steel Ltd, and AK Steel Holding Corporation. Most of the steel companies are now investing heavily in AHSS. For instance, ArcelorMittal SA is developing a third-generation, advanced high-strength steel, known as HF1050; HF stands for highly formable. Its versatility factor comes with weight savings, ranging between 10% and 20%, in vehicle parts.
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Industry Attractiveness - Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Application Type
5.1.1 Structural Assembly and Closures
5.1.4 Other Application Types
5.2 Vehicle Type
5.2.1 Passenger Vehicles
5.2.2 Commercial Vehicles
5.3.1 North America
220.127.116.11 United States
18.104.22.168 Rest of North America
22.214.171.124 United Kingdom
126.96.36.199 Rest of Europe
188.8.131.52 Rest of Asia-Pacific
5.3.4 South America
184.108.40.206 Rest of South America
5.3.5 Middle-East and Africa
220.127.116.11 United Arab Emirates
18.104.22.168 South Africa
22.214.171.124 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Vendor Market Share
6.2 Company Profiles
6.2.1 ArcelorMittal SA
6.2.2 ThyssenKrupp AG
6.2.4 Tata Steel Limited
6.2.5 SSAB AB
6.2.6 United States Steel Corporation
6.2.7 AK Steel Holding Corporation
6.2.8 Kobe Steel Ltd
6.2.9 Baoshan Iron & Steel Co. Ltd
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
** Subject to Availability