Global Automotive High Strength Steel Market Analysis

1. Advanced High-Strength Steels (AHSS) segment is leading the global Automotive High Strength Steel market on the basis of type
 
The AHSS type segment accounted for the largest share of the global Automotive High Strength Steel market, in terms of volume. This large share is primarily attributed to the better mechanical properties exhibited by AHSS as compared to other type of AHSS.
 
2. The Passenger Vehicle end-use industry will lead the global Passenger Vehicle market by 2021
 
The Passenger Vehicle segment is estimated to account for the largest share of the global Passenger Vehicle market during the forecast period. This segment took the market share of 84.17% in 2016, in terms of volume.
 
3. Asia- Pacific led the global high strength steels market
 
Asia-Pacific is the largest and fastest-growing region in the global Automotive High Strength Steel market. Rapid automotive industry development offer lucrative growth opportunities to players operating in the Automotive High Strength Steel market. The increasing middle class population, which has led to urbanization and rise in the manufacturing sector, drives the demand of Automotive High Strength Steel in this region. The Asia-Pacific Automotive High Strength Steel market is expected to grow at the highest CAGR between 2017 and 2022. Economic growth in countries such as China, Japan and India are further propelling the growth of the Automotive High Strength Steel market in the Asia-Pacific region.
 
4. Some of the key players operating in the global Automotive High Strength Steel market include Arcelor Mittal, SSAB, POSCO, United States Steel Corporation, Voestalpine, ThyssenKrupp, Baowu Group, Ansteel.
 
Compared to 2015, Automotive High Strength Steel market increased sales by 6.65 percent to 19943.76 million USD worldwide in 2016 from 18700.46 million USD in 2015. It shows that the Automotive High Strength Steel market performance is positive, despite the weak economic environment. The global Automotive High Strength Steel market is expected to reach $25660.40 million by 2022 from $20271.84 million in 2017, growing at a CAGR of 4.83% from 2017 to 2022.