Automotive Steel Market Is Expected To Reach USD 123.4 Billion By 2030
San Francisco, 19 December 2024: The Report Automotive Steel Market Size, Share & Trends Analysis Report By Vehicle Type (Passenger Vehicle, LCVs, HCVs), By Application (Body Structure, Power Train, Suspension), By Region, And Segment Forecasts, 2025 - 2030 The global automotive steel market size is expected to reach USD 123.4 billion in 2030 and is expected to witness a CAGR of 6.9% from 2025 to 2030. Growing automotive production in Asia Pacific countries is likely to drive the market. Expansion of production facilities coupled with growing demand in the Asia Pacific are the key factors in the growth of regional automobile sector. In 2018, automotive production in countries including Thailand, Malaysia, Indonesia, and India has observed a significant growth in the production of vehicles. Growing demand for electric vehicles is another factor which is projected to create a positive impact on the demand for steel products. As per the International Energy ...