Market Size of Automotive AHSS Industry
| Study Period | 2019-2029 |
| Market Size (2024) | USD 24.79 Billion |
| Market Size (2029) | USD 39.73 Billion |
| CAGR (2024 - 2029) | 9.90 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Europe |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Automotive AHSS Market Analysis
The Automotive AHSS Market size is estimated at USD 22.56 billion in 2023, and is expected to reach USD 36.15 billion by 2028, growing at a CAGR of 9.90% during the forecast period (2023-2028).
Advanced high-strength steels (AHSS) help to enhance vehicle safety, efficiency, emissions, manufacturability, durability, and quality at a low cost, which is likely to increase the demand for AHSS. According to the Steel Market Development Institute (SMDI), new grades of steel are bound to play significant roles in vehicles. Advanced high-strength steel significantly outperforms the competing materials for current and future automotive applications.
On average, 900 kg of steel is used per vehicle (up to around 70% of an average automobile’s weight). Of these, 40% is used in the body structure, panels, doors, and trunk closures for high-strength and energy absorption in case of a crash, 23% is in the drive train, 12% is in the suspension, and the rest is used in the wheels, tires, fuel tank, steering, and braking systems.
Compared to standard steel, AHSS enables to reduce vehicle weight by 23-35%, which is around 165-250 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.
