According to Market Study Report, High Strength Steel Market provides a comprehensive analysis of the High Strength Steel Market segments, including their dynamics, size, growth, regulatory requirements, competitive landscape, and emerging opportunities of global industry.
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The High Strength Steel Market is projected to grow from USD 27.32 Billion in 2018 to USD 40.85 Billion by 2023, at a CAGR of 8.4% between 2018 and 2023.
Top Companies Profiled in the High Strength Steel Market:
- Voestalpine AG (Austria)
- POSCO Group (South Korea)
- ArcelorMittal S.A. (Luxembourg)
- SSAB AB (Sweden)
- Nippon Steel & Sumitomo Metal Corporation (Japan)
- Tata Steel (India)
- Steel Authority of India Limited (India)
- United States Steel Corporation (US)
- Baosteel Group Corporation (China)
- Severstal JSC (Russia)
- ThyssenKrupp AG (Germany)
- JFE Steel Corporation (Japan)
- Nucor Corporation (US)
- JSW Steel (India)
Based on type, the high strength low alloy segment of the high strength steel market is expected to witness the highest growth during the forecast period. The growth of this segment of the market can be attributed to the increased use of high strength low alloy steels for manufacturing body panels of automobiles as they increase fuel efficiency of automobiles by reducing their weight by approximately 60%.
Based on end-use industry, the high strength steel market has been segmented into automotive, construction, yellow good & mining equipment, aviation & marine, and others. The automotive end-use industry segment is projected to lead the high strength steel market from 2018 to 2023 due to the increasing use of high strength steels in the automotive industry for manufacturing body and various other components of automobiles.
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Breakdown of primary participants’ profile:
- By Company Type: Tier 1 – 20%, Tier 2 – 30%, and Tier 3 – 50%
- By Designation: C-Level – 30%, Director-Level – 10%, and Others – 60%
- By Region: Europe – 20%, Asia Pacific – 40%, North America – 25%, South America –10%, and the Middle East & Africa – 5%