Report ID: SQMIG15O2008
AHSS (Advanced High Strength Steel) Market Size, Share, Growth Analysis, By Product(Dual-phase AHSS, Transformation-induced plasticity (TRIP) AHSS, and Complex-phase AHSS), By Vehicle Type(Passenger Vehicle, Commercial Vehicle), By Application(Structural Assembly & Closures, Bumpers, Suspension, and Others), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG15O2008 |
Region:
Global |
Published Date: April, 2024
Pages:
184
|
Tables:
90 |
Figures:
71
AHSS (Advanced High Strength Steel) Market Insights
Global AHSS (Advanced High Strength Steel) market size was valued at USD 12.78 billion in 2022 and is expected to grow from USD 13.98 billion in 2023 to USD 28.69 billion by 2031, at a CAGR of 9.4% over the forecast period (2024–2031).
The global Advanced High Strength Steel (AHSS) market is growing due to several factors, including increasing demand for lightweight, fuel-efficient vehicles and growing emphasis on safety in the automotive industry.
AHSS offers a combination of high strength and low weight, making it an attractive material for automotive manufacturers looking to reduce the weight of their vehicles without compromising on safety. AHSS is also highly formable, allowing manufacturers to create complex shapes and designs, which can further reduce weight and improve fuel efficiency.
In addition to the automotive industry, the AHSS market is also growing in other sectors, such as construction, aerospace, and defense. AHSS is used in these industries for its high strength and durability, which make it well-suited for challenging environments and applications.
US AHSS (Advanced High Strength Steel) Market is poised to grow at a sustainable CAGR for the next forecast year.
AHSS (Advanced High Strength Steel) Market Report Snapshots
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