Automotive AHSS Market Forecast to 2028 – COVID-19 Impact and Global Analysis By Product (Dual Phase, Martensitic Steel, Boron Steel, Others); Vehicle (Passenger Vehicle, Commercial Vehicle); Application (Body and Closures, Suspensions, Bumper, Others) and Geography
AHSS is high tensile strength steel that is consumed by manufacturers due to its lightweight, durability, efficiency, safety, and higher quality. Increase in demand for vehicles and growing advancements in technology inside and outside the vehicle are improving the safety, security, and comfort of vehicles, which in turn is driving the market. Common batch to batch irregularity will undesirably affect the automotive AHSS market. Also, large springback is observed as a problem for the manufacturers as it leads to dimensional inaccuracy, hampering the industry growth automotive AHSS market is regularly observing developing trends that are significantly subsidizing to the revenue generation. Pre-oxidation in hot-dip galvanizing process has grown traction among the industries participants to provide to the requirements of the automobile OEMs for enhanced surface quality in the vehicles.
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Companies Profiled in this report includes: AK Steel Holding Corporation, Arcelor Mittal S.A., China Baowu Steel Group Corp, Ltd, Kobe Steel Ltd, POSCO, SSAB AB, Tata Steel Limited, Thyssenkrupp AG, United Steel Corportation, Baoshan Iron & Steel Co. Ltd.
MARKET SEGMENTATION
Based on type, the market is segmented as dual phase, martensitic steel, boron steel, and others
On the basis of vehicle the market is segmented into passenger vehicles and commercial vehicle
Based on application, the market is segmented into body and closures, suspensions, bumper, and others
MARKET DYNAMICS
Drivers:
OEMs and other automotive part manufacturers are focusing on rising the quality, fuel economy, and safety by minimizing the costs of manufacturing is expected to drive growth of the global Automotive AHSS Market.
Technological advances and emerging markets in the developing economies is boosting the market
Restraints:
Developing trends of employing aluminum alloy light-weight parts for vehicles, and also applying parts manufactured by carbon-fiber composites is expected to restrain the growth of the market.
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IMPACT OF COVID-19 on Automotive AHSS MARKET
The outbreak of the COVID-19 has severely impacted the automotive and transportation, and other related industries. The emergence of COVID-19 virus across the globe which led to lockdown scenarios has led to unprecedented series of border closures across the globe. This disruption in global supply chain is expected to leave an impact on the industry through till mid-2021. However, demand for automotive related products such as Automotive AHSS has remained unaffected as the budgets for manufacturing of vehicle had been allocated prior to the pandemic. They are making considerations about vehicle design and materials to efficiently allocate budgets for production. This is expected to drive the Automotive AHSS Market.
Reason to Buy
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global Automotive AHSS market.
- Highlights key business priorities in order to guide the companies to reform their business strategies and establish themselves in the wide geography.
- The key findings and recommendations highlight crucial progressive industry trends in the Automotive AHSS market, thereby allowing players to develop effective long term strategies in order to garner their market revenue.
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
- Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those restraining the growth at a certain extent.
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation and industry verticals.
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