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Automotive Steel Market Size
- Report ID: GMI3310
- Published Date: Aug 2022
- Report Format: PDF
Automotive Steel Market Size
Automotive Steel Market size valued at USD 112.93 billion in 2021 and is projected to expand at over 3% in terms of revenue from 2022 to 2030. Rising adoption of electric vehicles will augment the demand for automotive steel.
High government emphasis across varied regions on promoting electrification to reduce the carbon footprint of automobiles will also propel product uptake in the automotive sector. For instance, in 2021, the U.S. government passed a bill to invest USD 550 billion toward a carbon-free initiative, under which USD 7.5 billion was allocated for building EV charging stations.
New lightweight automotive steel product development will transform the market outlook. Companies have been engaging in product innovation and strategic acquisitions to stimulate their presence. Additionally, companies would benefit from the growing demand for sustainable and efficient automobiles.
| Report Attribute | Details |
|---|---|
| Base Year: | 2021 |
| Automotive Steel Market Size in 2021: | 112,931.9 Million (USD) |
| Forecast Period: | 2022 to 2030 |
| Forecast Period 2022 to 2030 CAGR: | 3.1% |
| 2030 Value Projection: | 161,757.6 Million (USD) |
| Historical Data for: | 2018 to 2021 |
| No. of Pages: | 500 |
| Tables, Charts & Figures: | 809 |
| Segments covered: | Process, Product, Vehicle, Application, Region |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Frequently Asked Questions (FAQ) :
Automotive Steel Market Scope
