The Automotive Steel Market Overview 2025 report reveals that the market size has grown significantly over the past few years, with projections indicating further expansion.
What are the Historical Growth Trends in the Automotive Steel Market?
The size of the automotive steel market has been experiencing consistent growth over recent years. In 2024, it was valued at $115.71 billion and is projected to increase to $120.9 billion in 2025, with a compound annual growth rate (CAGR) of 4.5%.
What are the 2025 Market Projections: Forecasted Size & Growth Rate for the Automotive Steel Industry?
The automotive steel market is predicted to expand to a size of $151.3 billion in 2029, exhibiting a Compound Annual Growth Rate (CAGR) of 5.8%.
Download Your Free Sample of the 2025 Automotive Steel Market Report and Uncover Key Trends Now!
What are the Key Growth Drivers Fueling the Automotive Steel Market?
The key drivers in the automotive steel market are:
• Expansion of the global automotive industry
• Implementation of stringent emission regulations
• Rise of electric vehicle manufacturing
• Innovations and advancements in steel alloys
Global Market Segmentation: Identifying Major Automotive Steel Industry Segments
The automotive steel market covered in this report is segmented –
1) By Component: Mild Steel, Alloy Steel, High Strength Steel, Advanced High Strength
2) By Process: Basic Oxygen Furnace (BOF), Electric Arc Furnace (EAF)
3) By Application: Body Structure, Power Train, Suspension, Other Applications
4) By Vehicle Type: Passenger Vehicles, Light Commercial Vehicles, Heavy Commercial Vehicles
Pre-order the 2025 Automotive Steel Global Market Report for Fast Delivery & Comprehensive Insights!
What are the Emerging Trends Shaping the Future of the Automotive Steel Market?
The key trends in the automotive steel market are:
• There is an increasing interest in tailored blanks in the automotive steel market.
• The integration of third-generation advanced high-strength steel (3gahss) is becoming a prominent trend.
• There is a growing focus on sustainable steel production methods in the industry.
• The integration of smart manufacturing technologies is a rising trend in the market.
Who Are the Top Competitors & Leading Players in the Automotive Steel Market?
Major companies in the automotive steel market are:
• ArcelorMittal SA
• Tata Iron and Steel Company Limited
• Hyundai Steel Co. Ltd.
• United States Steel Corp.
• JSW Steel Ltd.
• Pohang Iron and Steel Company
• Nippon Steel Corporation
• JFE Steel Corporation
• Nucor Corporation
• Thyssenkrupp Steel Europe AG
• China Baowu Steel Group Corp. Ltd.
• Hesteel Group Company Limited
• Kobe Steel Ltd.
• Jindal Steel and Power Limited
• Grow Ever Steel Pvt. Ltd.
• Outokumpu Oyj
• Baosteel Group Corporation
• China Steel Corporation
• Gerdau S.A.
• Essar Gujarat Limited
• AK Steel Holding Corporation
• Steel Authority of India Limited
• Wuhan Iron and Steel Corporation
• Maanshan Iron & Steel Company Limited
• Shougang Corporation
• Ansteel Group Corporation Limited
• HBIS Group Co. Ltd.
• Shandong Iron and Steel Group Co. Ltd.
• Jiangsu Shagang Group Co. Ltd.
• Valin Holdings Group Co. Ltd.
• Benxi Steel Group Corporation Limited
• China Minmetals Corporation
• China National Chemical Corporation
Regional Dominance: Which Area Leads the Global Template Market?
Asia-Pacific was the largest region in the automotive steel market in 2024
