Global Automotive AHSS Market Size, Share, and Trends Analysis Report, By Application (Structural Assembly & Closures, Bumpers, Suspension, and Others) and By Vehicle Type (Passenger Vehicles and Commercial Vehicle), Forecast (2022-2028)

The global automotive AHSS market is anticipated to grow at a significant CAGR of 9.7% during the forecast period (2022-2028). The global automotive AHSS market is growing due to the rising demand for vehicle production. The increasing demand for better and more efficient lightweight vehicles is also boosting the growth of the market. The automotive manufacturers are more focused on developing lightweight vehicles with an aim to provide passenger safety and to provide with fuel economy which is generating new opportunities for market growth. The rising government initiatives to decrease road accidents by providing better safety features in the vehicles are also driving the growth of the global automotive AHSS market. The rise in disposable income in emerging economic countries is also boosting the growth of the market due to the increasing demand for lightweight vehicles. Additionally, AHSS provides greater advantages than cast iron as they are considered lightweight steel. The increasing demand for lightweight steel as well as stronger vehicles with fuel efficiency is further driving the growth of the global automotive AHSS market in the forecast period.

The Asia-Pacific region is anticipated to hold the major share in the global automotive AHSS market. The Asia-Pacific region is the largest producer of automotive vehicles globally. Emerging economies, such as India and China are the major contributing nations to the regional market as it has huge potential for the automotive industry to grow.

The market players are also contributing significantly to the growth of the market by the adoption of various strategies including mergers and acquisitions, geographical expansion, partnerships, collaborations, and new launches, to stay competitive in the market. For instance-

• In July 2021, Toyota Motor Corp. joined the Auto/Steel Partnership with the mission to achieve sustainable automotive solutions and technical resources for the automotive and steel industries, and to inherent high-performance characteristics of steel and innovations in design optimization and manufacturing technologies.
• In April 2021, SSAB AB announced its collaboration with Volvo Group for the research, development, serial production, and commercialization of the vehicles to be made of fossil-free steel.

Market Coverage

• The market number available for – 2022-2028
• Base year- 2021
• Forecast period- 2022-2028
• Segment Covered-
  • By Application
  • By Vehicle Type
• Regions Covered-
  • North America
  • Europe
  • Asia-Pacific
  • Rest of the World
• Competitive Landscape- Tata Steel, United Steel, Cleveland-Cliffs Inc., ArcelorMittal and Baosteel Group Hu among others.

Key questions addressed by the report

• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• How has COVID-19 impacted the market?
  • Deviation from the pre-COVID-19 forecast
  • Most affected region and segment
• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?

Global Automotive AHSS Market Report by Segment

By Application

• Structural Assembly & Closures
• Bumpers
• Suspension
• Others

By Vehicle Type

• Passenger Car
• Commercial Vehicle