Global Advanced High Strength Steel Market to Reach $50.96 Billion by 2028: Driven by Increasing Product Applications in Automotive and Construction Industries

DUBLIN, July 26, 2023 /PRNewswire/ -- The "Global Advanced High Strength Steel Market (2023-2028) by Grade, End-User, and Geography, Competitive Analysis, Impact of Economic Slowdown & Impending Recession with Ansoff Analysis" report has been added to ResearchAndMarkets.com's offering.

The Global Advanced High Strength Steel Market is estimated to be USD 28.13 Bn in 2023 and is expected to reach USD 50.96 Bn by 2028, growing at a CAGR of 12.62%.

Competitive Quadrant

The report includes a Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.

Ansoff Analysis

The report presents a detailed Ansoff matrix analysis for the Global Advanced High Strength Steel Market. Ansoff Matrix, also known as Product/Market Expansion Grid, is a strategic tool used to design strategies for growth of the company. The matrix can be used to evaluate approaches in four strategies viz. Market Development, Market Penetration, Product Development and Diversification. The matrix is also used for risk analysis to understand the risk involved with each approach.

The analyst analyses the Global Advanced High Strength Steel Market using the Ansoff Matrix to provide the best approaches a company can take to improve its market position.

Based on the SWOT analysis conducted on the industry and industry players, the analyst has devised suitable strategies for market growth.

Why buy this report?

• The report offers a comprehensive evaluation of the Global Advanced High Strength Steel Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
• The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
• The report includes an in-depth market analysis using Porter's 5 forces model, PESTLE Analysis and the Ansoff Matrix. In addition, the impact of COVID-19 and the impact of economic slowdown & impending recession on the market are also featured in the report.
• The report also includes the regulatory scenario in the industry, which will help you make a well-informed decision. The report discusses major regulatory bodies and major rules and regulations imposed on this sector across various geographies.
• The report also contains a competitive analysis using Positioning Quadrants, the analyst's competitive positioning tool.

Report Highlights:

• A complete analysis of the market, including the parent industry
• Important market dynamics and trends
• Market segmentation
• Historical, current, and projected size of the market based on value and volume
• Market shares and strategies of key players
• Recommendations to companies for strengthening their foothold in the market

Market Dynamics

Drivers

• Increasing Product Applications in the Automotive and Construction Industries
• High Preference for Modern Steel Structures for Aircraft Engineering
• Increasing Private and Government Funding for Large Infrastructure Projects

Restraints

• High Cost of Raw Materials

Opportunities

• Application Industry Approach towards Sustainable Development
• Product Penetration in the Developing Economies

Challenges

• Lack of Usage in Other Industries
• Challenges in Welding High-Strength Steels

Companies Mentioned

• Angang Steel Co. Ltd.
• ArcelorMittal S.A.
• Baoshan Iron and Steel Co., Ltd.
• Baosteel Group Corp.
• China Steel Corp.
• CITIC Pacific Special Steel Co., Ltd.
• Hyundai Steel Company
• JFE Steel Corp.
• JSW Group
• Kobe Steel Ltd.
• Metinvest Holding, LLC
• MTL Advanced Ltd.
• NanoSteel Co.
• Nippon Steel Corp.
• Nucor Corp.
• Posco Group
• SSAB AB
• Tata Steel Ltd.
• Thyssenkrupp Ag
• United States Steel Corp.
• Voestalpine Ag

Market Segmentation

The Global Advanced High Strength Steel Market is segmented based on Grade, End-User, and Geography.

• By Grade, the market is classified into Complex Phase, Dual-phase, and Transformation-induced Plasticity.
• By End-User, the market is classified into Automotive, Aviation & Marine, and Construction.
• By Geography, the market is classified into Americas, Europe, Middle-East & Africa and Asia-Pacific.

For more information about this report visit https://www.researchandmarkets.com/r/5k7a5v

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