Market Size of Asia Pacific Automotive AHSS Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 10.20 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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APAC Sutomotive AHSS Market Analysis
The Asia Pacific Automotive AHSS Market is expected to register a CAGR greater than 10.2% during the forecast period (2020 - 2025).
The demand for reducing the weight to enhance vehicle performance and safety is growing in the world, and Asia Pacific fastest growing market for AHSS Market. As a result, Advanced High Strength Steel (AHSS), which is a crucial material for mass vehicle reduction and, is the fastest-growing material in current automotive industry.
Steel makes up around 70 % of an average automobile's weight. Compared to standard steel, AHSS enable to reduce vehicle weight by 23-35% which is around 165 to 250 kg, for a regular passenger car, saving 3 - 4.5 tons of greenhouse gases over the vehicle's total life cycle. This saving in emissions is much more substantial than the CO2 emitted during the complete production of steel needed in a car.
Also, with the emergence of electric vehicles and an increasing ban on diesel vehicles production of gasoline and diesel engine, may face negative growth. However, AHSS will remain a driving factor due to its application in an alternative fuel vehicle market.
APAC Sutomotive AHSS Industry Segmentation
The Asia Pacific Automotive AHSS Market report covers the current and upcoming trends with recent technological development. The report will provide a detailed analysis of various areas of the market by vehicle, product and application type. The market share of significant AHSS manufacturers across the Asia Pacific will be provided.
| Vehicle Type | |
| Passenger Vehicles | |
| Commercial Vehicles |
| Product Type | |
| Dual-Phase Steel | |
| Boron Steel | |
| Transformation-induced plasticity (TRIP) Steel | |
| Others |
| Application | |
| Structural Assembly and Closures | |
| Bumpers | |
| Suspension | |
| Others |
| Geography | |||||||
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Asia Pacific Automotive AHSS Market Size Summary
The Asia Pacific Automotive AHSS Market is experiencing significant growth, driven by the increasing demand for lightweight materials to enhance vehicle performance and safety. Advanced High Strength Steel (AHSS) is becoming a pivotal material in the automotive industry, offering substantial weight reduction compared to standard steel. This reduction is crucial for improving fuel efficiency and reducing greenhouse gas emissions, aligning with global environmental goals. The market is further propelled by the rise of electric vehicles and the shift away from diesel engines, where AHSS plays a vital role in the alternative fuel vehicle segment. The steel industry is actively developing new alloys and optimizing chemical compositions to enhance the strength and ductility of AHSS, enabling the production of thinner, more efficient vehicle components.
In the Asia Pacific region, particularly in China and India, the automotive AHSS market is witnessing steady growth due to increased awareness of fuel efficiency and environmental benefits. Major automotive players are leveraging AHSS to optimize vehicle structures and improve performance, with companies like Maruti Suzuki leading the way in India. The market is moderately consolidated, with key players such as ArcelorMittal SA, China Baowu Steel Group Corp, POSCO, and Tata Steel Limited actively engaging in partnerships and product innovations to maintain a competitive edge. The demand for AHSS is expected to continue rising, driven by the need for lightweight solutions in the rapidly expanding automotive sector in Asia Pacific.
Asia Pacific Automotive AHSS Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Drivers
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1.2 Market Restraints
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1.3 Porters Five Force Analysis
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1.3.1 Threat of New Entrants
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1.3.2 Bargaining Power of Buyers/Consumers
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1.3.3 Bargaining Power of Suppliers
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1.3.4 Threat of Substitute Products
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1.3.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Vehicle Type
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2.1.1 Passenger Vehicles
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2.1.2 Commercial Vehicles
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2.2 Product Type
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2.2.1 Dual-Phase Steel
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2.2.2 Boron Steel
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2.2.3 Transformation-induced plasticity (TRIP) Steel
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2.2.4 Others
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2.3 Application
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2.3.1 Structural Assembly and Closures
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2.3.2 Bumpers
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2.3.3 Suspension
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2.3.4 Others
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2.4 Geography
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2.4.1 Asia Pacific
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2.4.1.1 China
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2.4.1.2 India
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2.4.1.3 Japan
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2.4.1.4 South Korea
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2.4.1.5 Rest of Asia Pacific
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Asia Pacific Automotive AHSS Market Size FAQs
What is the current Asia Pacific Automotive AHSS Market size?
The Asia Pacific Automotive AHSS Market is projected to register a CAGR of greater than 10.20% during the forecast period (2024-2029)
Who are the key players in Asia Pacific Automotive AHSS Market?
ArcelorMittal SA, China Baowu Steel Group Corp, POSCO, Tata Steel Limited and SSAB AB are the major companies operating in the Asia Pacific Automotive AHSS Market.
