The global automotive AHSS (advanced high strength steel) market size is projected to reach around USD 33.95 billion by 2027, registering a CAGR of 13.3%.
North America was the highest revenue contributor, accounting for USD 4.70 billion in 2019, and is estimated to reach USD 11.57 billion by 2027, with a CAGR of 12.3%. Asia-Pacific is estimated to reach USD 10.91 billion by 2027, at a significant CAGR of 14.9%. North America and Asia-Pacific collectively accounted for around 64.6% share in 2018, with the former constituting around 36.2% share. Asia-Pacific and Europe are expected to witness considerable CAGRs of 14.9% and 14.1%, respectively, during the forecast period. The cumulative share of these two segments was 49.9% in 2018 and is anticipated to reach 55.7% by 2027.
Key players includes AK Steel Holding Corporation, ArcelorMittal SA, Baoshan Iron & Steel Co. Ltd., Kobe Steel Ltd., Nucor, POSCO, SSAB AB, Tata Steel Ltd., ThyssenKrupp AG, and United Steel Corporation account for a major automotive AHSS (advanced high strength steel) share.
By Vehicle Type