Market Insight-Global Automotive Steel Market Overview 2022
The Global Automotive Steel Market Size was estimated at USD 273510 million in 2021 and is projected to reach USD 322900 million by 2028, exhibiting a CAGR of 3.25% during the forecast period– Bossonresearch.com
Steel currently makes up about 54 percent of the average vehicle. Americans depend on automobiles to keep families safe. In addition to its strength, durability and dependability, steel is also the key to recycling a car at the end of its long life — as steel is continuously recyclable.
On average, 900 kg of steel is used per vehicle.
The steel in a vehicle is distributed as follows, based on total vehicle curb mass:
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, consisting of cast iron for the engine block and machinable carbon steel for the wear resistant gears.
12% is in the suspension, using rolled high-strength steel strip.
The remainder is found in the wheels, tyres, fuel tank, steering and breaking systems.
According to bosson research, the global automotive steel market was valued at USD 104.47 billion in 2018 and is expected to witness a CAGR of 3.2% from 2019 to 2025. Increasing demand to reduce the weight of automobiles is expected to positively contribute in the industry growth.
Figure Global Automotive Steel Market Size
Source: Bossonresearch.com, 2022
Segment Market Analysis by Type
Based on type, Advanced high-strength steels (AHSS) are now used for nearly every new vehicle design. AHSS make up as much as 60% of today’s vehicles body structures making lighter, optimised vehicle designs that enhance safety and improve fuel efficiency.
New grades of Advanced High-Strength Steels enable carmakers to reduce vehicle component weight by 25-39% and total vehicle weight by 8-10% compared to conventional steel. When applied to a typical five-passenger family car, the overall weight of the vehicle is reduced by 100-150 kg, which corresponds to a lifetime saving of 2-3 tonnes of greenhouse gases over the vehicle’s total life cycle. This saving in emissions can be more than the total amount of CO2 emitted during the production of all the steel in the vehicle.
WorldAutoSteel, worldsteel’s automotive group, completed a three-year programme in 2013 that delivers fully engineered, steel intensive designs for electric vehicles. Known as the FutureSteelVehicle (FSV), the project features steel body structure designs that reduce the mass of the body-in-weight to 188 kg and reduce total life cycle greenhouse gas (GHG) emissions by almost 70%. The FSV study commenced in 2007 and concentrates on solutions for cars that will be produced in 2015-2020. Today we are seeing the material portfolio developed through the FSV programme progressively being introduced into new products.
Key players in the Automotive Steel Market include:
ALHO Systembau GmbH
Atco
Skyline Champion Corporation
Horizon North Logistics
Cavco Industries, Inc.
Clayton Homes
Daiwa House
Portakabin
Seikisui House
Vinci
Red Sea Housing
Fleetwood Australia
Kleusberg
Laing O'rourke
Request for more information
Click to view the full report TOC, figure and tables: https://www.bossonresearch.com/productinfo/1184105.html
About US:
Bosson Research (BSR) is a leading market research and consulting company, provides market intelligence, advisory service and market research reports for the automobile, electronics and semiconductor, and consumer good industry. The company assists its clients to strategize business policies and achieve sustainable growth in their respective market domain.
Bosson Research provides one-stop solution right from data collection to investment advice. The analysts at Bosson Research (BSR) dig out factors that help clients understand the significance and impact of market dynamics. Bosson Research (BSR) bring together the deepest intelligence across the widest set of capital-intensive industries and markets. By connecting data across variables, our analysts and industry specialists present our customers with a richer, highly integrated view of their world.
Contact US:
Tel: +86 400-166-9288
E-mail: sales@bossonresearch.com
© 2022 Bosson Research, Inc. All rights reserved.
Copyright
All content including the presentation thereof on this web site is the property of Bosson Research, Inc. and protected by U.S. and international copyright laws. You may not copy, reproduce, distribute, transmit, modify, create derivative works, or in any other way exploit any part of copyrighted material without the prior written permission from Bosson Research, Inc.
