According to Goldstein Research, global high strength steel (HSS) market is expected to reach USD 24.3 billion by 2024, growing at a CAGR of 7.9%. For reducing automotive weight and going economic and ecological to cut CO2 is the chief driving factor in the growth of global HSS market. Global high strength steel market segmentation has been done on the basis of product type, application, end-user and geography. Dual faced steels accounted for the largest market share in 2016 for its excellent combination of strength and excellent ductility.
Global high strength steel market is dominated by North America region with 40.0% market share owing to rise in water projects, automotive manufacturers, construction industry and petrochemical industry.

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Market Segmentation

On the basis of our in-depth analysis, Global High Strength Steel Market can be segmented as follows:

By Product Type

o High Strength Low Alloy Steels
o Dual Phase Steels
o Bake Hardenable Steels
o Carbon Manganese Steels
o Others

By Application

o Body and Closures
o Suspensions
o Bumper and Intrusion Beams
o Others

By End User

o Automotive
o Construction
o Others (Heavy Machinery)

By Region

o North America (US, Canada) {Market Share (%), Market Size (USD Billion, Adoption Rate (%)}
o Europe (UK, France, Italy, Germany, Spain, Hungary, Sweden, Russia, Poland and Rest of Europe) {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
o The Middle East and Africa (GCC Countries, North Africa, South Africa and Rest of Middle East & Africa) {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
o Latin America (Brazil, Mexico and Rest of Latin America) {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
o Asia Pacific (China, Japan, India, Singapore, South Korea, Australia, New Zealand and Rest of Asia-Pacific) {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
o Rest of the World {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}


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“Global High Strength Steel Market Outlook 2024” contains a detailed overview of the global high strength steel market. On the basis of our in-depth analysis, the market can be segmented in terms of market segmentation by product type, application and end-user.

Further, for the in-depth analysis, Global High Strength Steel Market Report encompasses the industry growth drivers, market challenges, risk analysis, market attractiveness, BPS (Base Point Scale) analysis, Porter’s five force model and SWOT analysis. This market report also includes competitive outlook of some of the major players profiling of companies such as Arcelor Mittal, United States Steel Corporation, Voestalpine AG, SSAB, Shandong Iron and Steel Group, Baosteel Group Corporation, Severstal JSC and ThyssenKrupp AG, Essar Steel, Gerdau S.A., Hebei Puyang Iron and Steel Co., Ltd., Hyundai Steel Co., Ltd, JFE Steel Corporation, JSW Steel, Kobe Steel, Ltd., Nippon Steel & Sumitomo Metal Corporation, Novolipetsk Steel, Nucor Corporation, Posco, Saab Group, Schuler Group, Shougang Corporation, Steel Authority of India Limited, Tata Steel Limited, Usiminas, Voestalpine Group, etc. The company profiles include business strategy, geographical revenue distribution, major information of the companies which encompasses business outlook, products, services and industries catered, financial analysis of the company and recent developments.

Overall, the report represents the global high strength steel market trends along with a market forecast that will help industry consultants, technology providers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market-centric strategies according to the ongoing and expected trends in the future.

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