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Automotive & Aerospace Steel Market Share

Report ID: GMI4522
Published Date: Feb 2021
Report Format: PDF

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Automotive & Aerospace Steel Market Share

Global steel industry for automotive & aerospace applications market is fragmented, and key players include

Gerdau S/A
Nippon Steel & Sumitomo Metal Corporation Daido Steel Co., Ltd.
Kobe Steel, Ltd.
Tata Steel
Steel Authority of India Limited (SAIL)
China Steel Corporation
United States Steel Corporation
Outokumpu OYJ
Celsa Steel UK
NJR Steel
Thyssenkrupp AG
ArcelorMittal
JFE Steel Corporation
Mechel OAO
Jiangsu Shagang Group
Commercial Metals Company
Nucor Steel
Essar Steel
Acerinox S.A.
Hyundai Steel
Jindal Steel & Power Ltd.
POSCO
Steel Dynamics, Inc.
Baosteel Group

The emerging small industry players are taking initiative in the market owing to its wider acceptance in automotive and aerospace application. Further, industry players are also engaged in numerous acquisitions, mergers and innovation activities. The other small key players and emerging companies are taking initiative in the market owing to increasing manufacturing & construction industry.

For instance, In December 2019, ArcelorMittal has completed its acquisition with Essar Steel India Limited. Further, the company also announced of a joint venture with ArcelorMittal Nippon Steel India Limited (AM/NS India) and Nippon Steel Corporation. which will own and operate Essar Steel. Th acquisition will help ArcelorMittal to further expand innovations in the steel industry.

In June 2019, Tata Steel completed the acquisition of Bhushan Energy. This company is operating as a division of Bhushan Steel.

In November 2019, Gerdau has purchased a steel mill for USD 111 million in northeast Brazil. The annual production capacity of installed mill is 600,000 tons per year. Through this still plant the company has improved it productivity at Brazilian steel mills.

Authors: Kunal Ahuja, Sarita Bayas

Frequently Asked Questions (FAQ) :

Steel market size for automotive & aerospace applications was valued at USD 125 billion in 2020 and will grow at more than 5.4% CAGR through 2027 driven by the soaring electric vehicle industry.

Cold-rolled sheets and coils segment will grow at a 4% CAGR through 2027 owing to increasing government regulations to decrease carbon dioxide emissions.

Galvanized steel sheets market revenue is set to surpass USD 5.15 billion by 2027 due to their unique chemical property and ability to provide superior surface quality, high formability and dimensional accuracy.

Steel market revenue from automotive application will be recorded at USD 165 billion by 2027 owing to the rise in demand for lightweight material in the industry.