High strength steel is used in various end-use industries including automobile, building & construction, mining, military & defense, and aviation. The growing investment in infrastructural development coupled with the increasing defense budget is expected to augment the growth of the global high strength steel further. Among the various end-use industries, automobile and building & construction are expected to hold the major share during the assessed period.
Global Key Players and Competition Analysis
Some of the prominent players operating in the global high strength steel market are Arcelor Mittal (Luxembourg), United States Steel Corporation (U.S.), Voestalpine AG (Austria), SSAB (Sweden), Shandong Steel Group (China), SAIL (India), Tata Steels (India), Nippon Steel and Sumitomo Metal Corporation (Japan), POSCO (South Korea), Wuhan Iron and Steel Corporation (China), Tata Steels Limited (India) and Nippon Steel & Sumitomo Metal Corporation (Japan) among others.
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Segmentation Analysis
The global high strength steel market is segmented into product type and end-user industry. Based on the product type, the market is segregated into high strength low alloy steel, dual phase steel, hardenable brake steel, carbon manganese steel, and others. On the basis of the end-user industry, the global market can be further segmented into automotive, building & construction, mining & other equipment, aviation, marine, military & defense, and others.
Regional Analysis
The High Strength Steel Market is segmented into five regions: Europe, Latin America, Asia Pacific, North America, and the Middle East & Africa. Among these, Asia Pacific is the leading region in the market and is expected to exhibit an expanding CAGR during the forecast period. Growing development of industries in the developing economies such as China and India are primarily driving the growth of the high strength steel market.
Market Scope
The growing infrastructural developments across the globe along with the growing adoption in the automobile sector is the key factor driving the growth of the global high strength market. Moreover, the growing purchasing power in the developing regions has augmented the sale of automobiles, which, in turn, is expected to substantially contribute to the growth of the high strength steel market.
Browse the market data and information spread across 139 pages with 43 data tables and 43 figures of the report “High Strength Steel Market Research Report Forecast to 2023 ” in-depth alongside table of content (TOC) at: https://www.marketresearchfuture.com/reports/high-strength-steel-market-5638
Industry News:
March 08, 2018 Market Research Future Published a Half-Cooked Research Report on Global High Strength Steel Market.
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