The global high strength steel market size was valued at over USD 32 billion in 2020 and anticipated to register a significant CAGR of over 8% during the forecast period 2021 to 2027. The increasing demand by the construction and automotive industry is a primary factor to drive the market growth. High strength steel reduces the amount of steel required to manufacture various auto parts which are making vehicles lightweight. Thus, the rising demand for lightweight automotive materials is expected to uplift the market growth. Furthermore, increasing demand for electric vehicles and manufacturer’s focus on green technology are some other factors to fuel the market over the forecast period.
The report titled "High Strength Steel Market - Global Trends, Market Share, Industry Size, Growth, Opportunities, and Forecast - 2020 – 2027" offers a holistic view of the High Strength Steel industry encompassing numerous stakeholders including raw material suppliers, providers, distributors, consumers and government agencies, among others. Furthermore, the report includes detailed quantitative and qualitative analysis of the global High Strength Steel market considering market history, product development, regional dynamics, competitive landscape, and key success factors (KSFs) in the industry.
The report includes a deep-dive analysis of key countries including the U.S., Canada, the U.K., Germany, France, China, Japan, India, Australia, Mexico, Brazil and South Africa, among others. Thereby, the report identifies unique growth opportunities across the world based on trends occurring in various developed and developing economies.
High Strength Steel Market report summarizes the positive growth rate in upcoming years, and market size with competitive analysis. Our experts have analyzed the historical data to compare with the current market scenario to calculate the market growth in the coming years. The study provides an exhaustive report that includes an executive summary, scope, and forecast of the market.
The High Strength Steel Market Segmentation:
By Type:
Dual phase (DP)
Martensitic (MS)
Transformation-induced plasticity (TRIP)
Twinning-induced plasticity (TWIP)
Others
By Tensile Strength:
Upto 600 MPa
600-900 MPa
900-1200 MPa
1200-1500 MPa
Over 1500 MPa
By End-Use Industry:
Automotive
Construction
Mining Machinery
Aviation & Marine
Others
By Region:
North America
Europe
Asia Pacific
Latin America
Middle East & Africa