Report ID: CMR979104 | SKU: CMR979104 | Edition: 7th Global Edition
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The global high-strength steel market was valued at USD 35.80 billion in 2022 and is projected to reach USD 65.28 billion by 2030, registering a CAGR of 7.8% for the forecast period 2023-2030.
Base Year | 2023 |
Historical Data Time Period | 2018-2023 |
Forecast Period | 2023-2030 |
High Strength Steel Market is Segmented as below. Particular segment of your interest can be provided without any additional cost. Download the Sample Pages!
The high-strength steel, also known as structural steel, refers to a type of steel that exhibits superior strength and mechanical properties compared to conventional mild or low-carbon steel. It is designed to have increased strength, hardness, and durability, enabling it to withstand higher stresses and loads. High-strength steel is typically produced by alloying iron with carbon steel and various elements such as manganese, chromium, nickel, and molybdenum. These alloying elements enhance the steel’s properties and improve its strength while maintaining good formability and weldability. High-strength steel finds applications in various industries, including automotive, aerospace, construction, and manufacturing. High-strength steel is a valuable material that offers enhanced strength, toughness, and versatility, making it suitable for demanding applications where strength-to-weight ratio and performance are critical factors.
Increasing demand from the automotive industry for high-strength steel drives the market. As the population and income rise, the demand for automobiles or vehicles is also boosting. According to data from the Ministry of Industry and Information Technology, passenger vehicles sold in China in 2021 show an increase of 7.1 % from 2020. This growth in vehicle manufacturing directly translates into higher demand for high-strength steel. High-strength steel offers a superior strength-to-weight ratio, improved crashworthiness, and fuel efficiency. High-strength steel has properties useful in automotives such as improved toughness properties even at low temperatures, improved weldability, and excellent formability. As automotive manufacturers strive to meet stringent safety regulations and enhance fuel economy, the demand for high-strength steel in the production of lightweight vehicles is growing, surging the high-strength steel market growth.
As the population is rising, the demand for construction activities such as the construction of new buildings and houses is also increasing. People are investing in construction due to urbanization, and population growth. In China, according to estimates, during the 14th five-year plan period from 2021 to 2025, the overall investment in new infrastructure will roughly reach around $ 4.2 trillion. High-strength steel is widely used in construction projects, such as bridges, buildings, and stadiums. High-strength steel reduces material consumption, lowering the erection and transportation costs. HSS is used widely in tall structures and is incorporated in bars to exhibit a specific quantity of deformation under heavy-loaded actions due to its inelastic ability. Thus, the demand for high-strength steel in these sectors is driven by factors like urbanization, population growth, and the need for durable and structurally sound constructions.
High-strength steel tends to be more expensive compared to conventional steel and other materials like aluminum. Iron ore is the major material that is used in the production of high-strength steel. Also, other materials such as nickel, chromium, and copper are of importance in the production of high-strength steel. As the cost of these materials like iron ore and other materials is high it directly impacts the cost of high-strength steel by making it expensive. This higher cost can make it less affordable for certain industries, especially those operating on tight budgets or in cost-sensitive markets. Manufacturers and end-users may opt for lower-cost alternatives, consisting of the potential benefits of high-strength steel which may hinder the market of high-strength steel.
The outbreak of COVID-19 hurt the high-strength steel market. The government-imposed lockdowns across various countries disturbed the supply chain and decreased the activities such as the production and utilization of high-strength steel by various industries as the industries’ activities were also paused. Construction projects and infrastructure developments were significantly affected by the pandemic. Many projects were delayed or put on hold due to labor shortages, supply chain disruptions, and financial uncertainties. As a result, the demand for high-strength steel used in construction applications, such as buildings, bridges, and infrastructure was negatively affected. Vehicle production was disrupted due to factory shutdowns, reduced consumer demand, and supply chain interruptions. As a result, the demand for high-strength steel used in automotive applications, such as body frames and components, was significantly impacted.
As the pandemic situation improved and the pandemic situation improved and countries began to reopen their economies, the high-strength steel market started to recover. The resumption of construction projects, infrastructure investments, and automotive production contributed to the gradual recovery of the market.
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Global High Strength Steel Market Report 2023 talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing High Strength Steel Industry growth. High Strength Steel market has been segmented with the help of its Product, End User , and others. High Strength Steel market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.
Based on product, the high-strength steel market is segmented into Bake Hardenable (BH), Dual Phase (DP), Transformation Induced Plasticity (TRIP), High Strength Low Alloy (HSLA), and others.
In 2022, the High Strength Low Alloy (HSLs) segment accounted for the largest market share in terms of revenue:
The High Strength Low Alloy (HSLA) segment dominated the market in 2022. This dominance is attributed to the increasing use of high-strength low alloy steel by various sectors. High strength low alloy steel is used in bridges, cars, roller coasters, and other structures that are produced to handle high quantities of stress HSLA has low carbon content of the alloy making it retain weldability, and formability and has good mechanical properties. Due to the improved properties of HSLA, the demand for it increases by various end-users making it drive the segmental growth.
The Dual Phase (DP) segment is anticipated to witness robust growth over the forecast period. DP has high tensile strength, low starting yielding, high initial-stage strain hardening, and low initial yielding stress, high mechanical strength, good resistance from fatigue, and better energy absorption capacity to the finished part making it the ideal material to be utilized in reinforcements, and structural parts in various industries, to drive the segmental growth in the upcoming years.
The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of High Strength Steel Industry. Request a Free Sample PDF!
By end-use, the market is bifurcated into construction, automotive, mining, aviation & marine, and others.
The automotive segment dominated the High Strength Steel market, in 2022:
In 2022, the automotive sub-segment gained the largest market share in terms of revenue. The key factor for segment growth is the development in the automotive industry leading to high demand for high-strength steel due to its improved properties such as superior strength-to-weight ratio, improved crashworthiness, fuel efficiency, improved toughness properties even at low temperatures, improved weldability, lightweight, and excellent formability. The excellent properties offered by high-strength steel in the automotive industry are boosting segmental growth.
The construction industry is anticipated to grow at a significant pace due to wide applications offered by high-strength steel in the construction industry such as lowering consumption of material, high durability and strength, and resistance to wear and tear.
The above Graph is for representation purposes only. This chart does not depict actual Market share. Please purchase the High Strength Steel market report 2023 Edition by contacting our team.
In 2022, Asia Pacific dominated the high-strength steel market and gained the largest market share in terms of revenue. This growth is attributed to the large presence of end-users in the region. In addition, the surging manufacturing sector leading to major exports of the products, and high demand from the major automotive and construction industries for high-strength steel is driving the segmental growth in this region.
North America's high-strength steel market is projected to witness the fastest growth over the forecast period, from 2023 to 2030. The major factors for growth in this region are the increasing consumers of high-strength steel due to the growing commercial and residential activity in the region. Also, technological advancements for establishing superior quality steel to be used in the automotive industry are anticipated to propel the market growth in this region.
The current report Scope analyzes High Strength Steel Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com
The above graph is for illustrative purposes only. To learn more about geographical trends request the free sample pages. Contact US!
Our study will explain complete manufacturing process along with major raw materials required to manufacture end-product. This report helps to make effective decisions determining product position and will assist you to understand opportunities and threats around the globe.
The Global High Strength Steel Market is witnessing significant growth in the near future.
In 2023, the Bake Hardenable (BH) segment accounted for noticeable share of global High Strength Steel Market and is projected to experience significant growth in the near future.
The Construction segment is expected to expand at the significant CAGR retaining position throughout the forecast period.
Some of the key companies Tata Steel , United States Steel Corporation and others are focusing on its strategy building model to strengthen its product portfolio and expand its business in the global market.
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Why Bake Hardenable (BH) have a significant impact on High Strength Steel market? |
What are the key factors affecting the Bake Hardenable (BH) and Dual Phase (DP) of High Strength Steel Market? |
What is the CAGR/Growth Rate of Construction during the forecast period? |
By type, which segment accounted for largest share of the global High Strength Steel Market? |
Which region is expected to dominate the global High Strength Steel Market within the forecast period? |
Industry segmentation can be altred as per your needs. For example, we can proivde cross slipt between Bake Hardenable (BH) with End User, , additional country analysis, volume/consumption data, etc.
Major Product Analysed |
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Major End User Analysed |
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Top Manufacturers Disclosed |
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Global, Regional and Country Analysis |
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Key Qualitative Information Covered |
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Report scope is customizable as we have a huge database of High Strength Steel industry. We can deliver an exclusive report Edition/Consultation as per your data requirements. Request for your Free Sample Pages.
Segmentation Level Customization | |
Global level Data Customization | |
Region level Data Customization | |
Country level Data Customization | |
Company Level | |
Additional Data Analysis | |
Additional Qualitative Data | |
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Service Level Customization | Report Format Alteration |
This is a revenue specific report edition where the data is restricted only for the revenue.The pricing are according to the user license selection single user license: $2,445.00 USD, Team user license: $4,545.00 USD and Corporate user license:$6,845.00 USD On request we can arrange the copies depending the payment made from your side.
This is a revenue and volume specific report edition where the data is restricted for the revenue and volume.The pricing are according to the user license selection single user license: $3,445.00 USD, Team user license: $5,545.00 USD and Corporate user license:$7,845.00 USD On request we can arrange the copies depending the payment made from your side.
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This chapter helps you to understand the importance of report and how we designed the report scope of High Strength Steel market. As per your requirement we can also design the market scope as a customised report.
This chapter provides insights on our data collection and data validation process. It covers detailed information on wide range of sources referred during the study.
At Cognitive Market Research, we have designed questionnaire focused on High Strength Steel Market for the statistical study. This questionnaire is the key part of our research methodology which is shared with number of High Strength Steel industry experts of entire value chain, located across the globe. This study help us to gather accurate quantitative and qualitative data for the final report.
The executive summary is an overview of a High Strength Steel Market Report. In this chapter we have summarized the overall report data in snapshot format.
This chapters incorporated product description overview and regional sales statistics for the year 2018-2030.
This chapter covers a competitive analysis of the global High Strength Steel market, and it includes quantitative information such as revenue and market share of the manufacturers. The chapter also includes information regarding the strategies adopted by the manufacturers such as mergers, acquisitions, and new product launches.
ESG analysis is the consideration of all factors in investment including environmental, social, and governance (ESG) factors. ESG integration is key part of the investment process. ESG analysis helps to measure company’s goals and progress when it comes to climate change, social improvement and good governance.
This chapter helps you understand the Market Drivers, Market Restrain, Market Opportunity and Trends by each segment.
This segment of the report provides in-depth and pertinent information on every foremost player in the market through both primary and secondary research. The Company Basic Information, and Sales Area chapter includes ten or more key players, which are dominating the market. Each company profile includes demystifying professional information in a tabular format, which comprises the company’s official website, established year, market position, geographical presence, competitors, and contact information. Further, company profiling includes an in-detailed business overview, COVID-19 impact on the particular firm, product type specifications, revenue & market share, and recent developments done by the company for its inorganic development, such as mergers, strategic acquisitions, partnerships, and others. Besides, profiling includes the company’s investment in research and development activities. The recent innovative product launches, business expansion, investments done by the company in different markets, and other news are also available in the company profiling section. At last, it provides the company’s business strategy and SWOT analysis.
This chapter covers in-detailed insights regarding type segments to understand consumer interests and provide a revenue stream for each type. Type segment analysis help in making a better business decision to maximize profitability by focusing resources on those market type that are relatively favorable to their goals.
This chapter covers in-detailed insights regarding type segments to understand consumer interests and provide a revenue stream for each type. Type segment analysis help in making a better business decision to maximize profitability by focusing resources on those market type that are relatively favorable to their goals.
This chapter categorizes detailed perceptions into an application segment based on end users’ needs, and preferences to understand their requirements and purchasing patterns effectively. It analyzes the current trends of the market that mainly consists of information related to new product use, trends in consumer demand, and available close substitutes of the product.
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global High Strength Steel market
Top Companies Market Share in High Strength Steel Industry: (In no particular order of Rank)
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Docol1000CP, the new high-strength steel has a significantly high strength of 1000 Mpa in contrast with the conventionally used grades for maintaining the performance, geometry, and quality of the parts. This steel enables the production of lighter parts and opts for a positive behavior against fatigue. Additionally, steel contributes to environmental protection by lowering fuel consumption and hence reducing emissions.
This plan of a new Nordic production system brought forward the green transition by eliminating carbon dioxide emissions. This is also eliminating the investment in existing systems with steel plants, and rolling mills. This investment resulted in the enlargement of SSAB’s premium products, advanced high-strength steel (AHSS), and quenched & tempered steel (Q&T).
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We have listed the discounted pricing including Tax/es. Please kindly note, report pricing and data inclusion depends upon the selection of the report edition + user license. Hence, please kindly choose an appropriate user license depending upon the number of users or employees are going to utilize the report data or the as per the need of the data/consultation services. To know more contact us.
Global Report Edition includes data about 5 major regions and a total of 36 countries. Please refer to the Table of Contents tab. If you require customized data our research team will assist you and provide you with an exclusive report edition delivery. You can also purchase regional and country-level data edition/s. Please get in contact with us prior to making a purchase sales@cognitivemarketresearch.com.
The regional report edition will help you get the data specific to the to selected region from the drop down.
The country specific report edition and the respective table of content will be delivered to you as per your enquiry or you can refer the following link for the same.
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