Global High Strength Steel Market Research Report: Information by Product Type (High Strength Low Alloy Steel, Dual-Phase Steel, Hardenable Bake Steel, Carbon Manganese Steel and others), End-Use Industry (Automotive, Construction, Hoisting and Mining Equipment, Marine, Aviation and others) and Region (Asia-Pacific, North America, Europe, Latin America and Middle East & Africa) - Forecast till 2027
High Strength Steel Market Research
Report - Global Forecast till 2025
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.
The global high strength steel market is segmented into product type and end-user industry. On
the basis of the 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 bifurcated into automotive, building & construction,
mining & other equipment, aviation, marine, military & defense, and others.
The automobile segment followed by building & construction segment is anticipated to observe a
higher CAGR during the forecast period. High strength steel in automobiles helps in the reduction
of weight, which, in turn, reduces the emissions in automobiles. The implementation of stringent
regulations regarding the greenhouse emissions is further anticipated to boost the market
demand. high strength steel is extensively used in bridges, roller coasters, and other
infrastructures owing to its high tensile strength and corrosion resistance. The growing
infrastructural spending is expected to add to the growth of the segment.
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The global high strength steel market is spanned across five key regions: North America, Asia
Pacific Europe, Latin America, and the Middle East & Africa. Among these, Asia Pacific holds a
major share and is expected to grow at