Global Automotive Steel Market Analysed & Forecast by LP Information in Its New Research Report Available at MarketPublishers.com15 Nov 2017 • by Natalie Aster
LONDON – Nowadays, the automotive market is recognised as highly competitive, therefore automotive manufacturers worldwide make huge investments in R&D in order to maximise fuel efficiency of their vehicles and, at the same time, cut carbon emissions. The majority of manufacturers are exploring different options to improve fuel economy, and one of the best methods is to reduce a vehicle’s mass. Therefore, the consumption of alternative lightweight materials like fibre-reinforced plastics and aluminium in the automotive industry is constantly increasing. However, this lightweighting approach does not address the overall environmental implications. The usage of steel (instead of aluminium or other composite alternatives) is viewed as a more environmentally-friendly solution. In this wake, the demand for automotive steel is set to keep on rising at a swift pace in the years to come.
Today, steel holds a share of around 68% of all passenger car materials. Despite the constantly increasing usage of other materials, steel is poised to maintain its dominant position in the automotive production in the foreseeable future.
At present, the automotive industry accounts for appr. 12% of the world’s total steel consumption.
The global automotive steel market is predicted to follow an upward trend, registering a healthy CAGR from 2017 to 2022. Strict emission norms are likely to fuel the demand for advanced high-strength steel (AHSS) in the near future, for instance, Nissan plans to raise the adoption of AHSS in its vehicles by appr. 25% by the end of this year.
New research publication “2017-2022 Global Top Countries Automotive Steel Market Report” drawn up by LP Information is a great source of relevant and trustworthy information on the current situation in the automotive steel market on a global and regional scales.
The report offers a detailed market segmentation analysis based on steel types, applications, and geography; delves deep into the market landscape and uncovers reliable statistics on sales, revenues, shares and growth rates, etc. Moreover, this in-demand report comprises a profound overview of the automotive steel industrial chain and sheds light on the key marketing channels and prevailing development trends. It presents deep insights into the market competitive environment, includes granular profiles of the most active market participants together with information on their manufacturing base, sales area and its competitors, etc. All-encompassing future outlook for the world’s automotive steel market up to 2022 is also available in the report.
Keep in mind that this new topical report can be purchased at a discounted price until December 1, 2017!
To find other cutting-edge research reports provided by LP Information, please, follow the publisher’s page at MarketPublishers.com.