An Ultimate Guide to Advanced High-strength Steel Market : Opportunity Analysis and Industry Forecast, 2017-2023

Advanced High-strength Steel Market to Witness Robust Expansion Throughout the Forecast Period 2017-2023

PORTLAND, OR, UNITED STATES, February 10, 2025 /EINPresswire.com/ -- According to a new report published by Allied Market Research titled, "Advanced High- Strength Steel Market by Grade and End User: Global Opportunity Analysis and Industry Forecast, 20172023," the global advanced high-strength steel market size was valued at $13,147 million in 2016, and is expected to reach $29,151 million by 2023, registering a CAGR of 12.2% from 2017 to 2023. North America dominated the global market in 2016, accounting for one-third share of the total revenue.

The rise in infrastructure development and construction endeavors worldwide are significant drivers for the Advanced High-Strength Steel (AHSS) market. AHSS finds extensive application in constructing bridges, high-rise buildings, and various infrastructure projects owing to its exceptional strength-to-weight ratio and remarkable durability. According to the World Steel Association, the construction sector contributes approximately 50% of global steel consumption. With governments making substantial investments in infrastructure development to bolster economic expansion, the demand for AHSS in the construction industry is poised to witness significant growth in the foreseeable future.

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Global Advanced High Strength Steel Market: Overview
Growing global construction industry
The growing number of modern infrastructures, shopping malls, high-rise buildings, smart cities, and commercial spaces is leading to the growth in construction industry. In addition, there is an increase in the number of construction projects in developed and developing countries such as the US, Japan, the UK, Malaysia, India, and China. These factors will boost the demand for steel as it is extensively used in the making of metal frameworks for all infrastructure and buildings. Also, AHSS is gaining prominence over conventional steel as they are used effectively for building lean structures. This benefit will lead to the expansion of the global advanced high strength steel market at a CAGR of almost 13% during the forecast period.
Increasing use of electric arc furnace
Governments across the globe are coming up with stringent regulations on steel production in conventional blast furnaces due to the growing environmental concerns, need for large amount of energy, and cost-intensiveness. This is encouraging steel producing companies to adopt electric arc furnaces that addresses the problems associated with carbon emissions. The growing use of electric arc furnace will boost the production of steel products such as AHSS sheets and bars and have a positive impact on the overall market growth.

Competitive Landscape
With the presence of several major players, the global advanced high strength steel market is fragmented. This robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading advanced high strength steel manufacturers, that include ArcelorMittal SA, Essar Steel India Ltd., HBIS Group Co. Ltd., Hyundai Steel, Jindal Steel & Power Ltd., JSW Holdings Ltd., Nippon Steel Corp., POSCO, Tata Steel Ltd., and United States Steel Corp.
Also, the advanced high strength steel market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.

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Key Findings of the Advanced High-strength Steel Market:
• In terms of value, the dual phase segment in the global advanced high-strength steel market is expected to grow at a CAGR of 13.0% during the forecast period.
• North America is expected to dominate, registering a CAGR of 11.3% in terms of value.
• Automotive industry is anticipated to dominate global market registering a CAGR of 12.5%.
• Asia-Pacific is projected to show exponential growth in demand throughout 2023, growing at a CAGR 14.0% of in terms of value.
• In the global market, India is expected to grow at a CAGR of 14.0%, in terms of value.

Key players profiled in the global advanced high-strength steel industry include Tata Steel Limited, ArcelorMittal S.A., NanoSteel, AK Steel Corporation, Nucor Corporation, MTL Advanced Ltd., United States Steel Corporation, Baoshan Iron and Steel Co. Ltd., Kobe Steel Ltd., and SSAB AB.

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About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

David Correa
Allied Market Research
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