© 2016 Global Market Insights, Inc. USA. All Rights Reserved Fuel Cell Market size worth $25.5bn by 2024 Automotive Steel Market has witness Profitable Growth Opportunities By 2025: Global Market Insights, Inc.

© 2016 Global Market Insights, Inc. USA. All Rights Reserved  Europe will account for a significant share in the automotive steel market share. This can be credited to the presence of multiple automobile manufacturers focusing on launching a wide range of vehicles at diversified price. Moreover, the rising demand for premium and sports cars with incorporation of superior body structure and steel materials further accentuates the regional demand.  Asia Pacific will exhibit considerable growth rate on account of rising vehicle production across the region. Additionally, stringent regulatory norms including Bharat Stage and CAFÉ norms mandate the improving efficiency and lowering of vehicle efficiency, thereby expanding the regional share over the study timeframe. Most automobile manufactures including Suzuki, Toyota, and Honda among others are upgrading their vehicle portfolio with newer generation vehicles by incorporating high strength steel. Regional Analysis of Automotive Steel Market:

© 2016 Global Market Insights, Inc. USA. All Rights Reserved Application Analysis of Automotive Steel Market :  The automotive steel market share based on application can be categorized into powertrain, body structure and suspension. Body structure will account for a significant share on account of the availability of a wide range of vehicles with varied body sizes and shapes including hatchbacks, sedans, crossovers, and SUVs. Additionally, industry manufacturers are continuously focusing on improving the vehicle power to weight ratio and lowering vehicle weight for improving efficiency. Additionally, the usage of high strength steel contributes significantly towards increasing product life span and reduces the probabilities of corrosion, thereby expanding the segment share.  Based on type, the automotive steel market size can be classified into mild steel, alloy steel, and high strength steel. High strength steel will showcase a considerable growth rate on account of stringent regulatory and compliance norms associated with improving vehicle efficiency and lowering carbon emissions. Moreover, the lower strength and improved rigidity of the material significantly improves the vehicle durability, thereby making them compliant with stricter crash norms.

© 2016 Global Market Insights, Inc. USA. All Rights Reserved  The companies operating in the Automotive Steel Market are are engaged in strategic acquisitions and joint ventures for increasing their market share. For instance, in 2018, JSW Steel completed the acquisition of U.S. based Acero Junction Holding for around USD 81 million. This strategy enabled the company to significantly improve its production processes and cater to a wide client base.  Major players present in the Automotive Steel Market include Posco, United States Steel Corp., Nippon Steel & Sumitomo Metal Corp., JSW Group China Steel Corp., Nucor Corp., ArcelorMittal S.A., Hyundai Steel Co. Ltd., JFE Steel Corp., and Tata Steel Ltd. Competitive Market Share of Automotive Steel Market :

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