According to the new market research report “High Strength Steel (Yield Strength ≥700MPa)- Global Market Share and Ranking, Overall Sales and Demand Forecast 2024-2030”, published by QYResearch, the global High Strength Steel (Yield Strength ≥700MPa) market size is projected to reach USD 10.03 billion by 2030, at a CAGR of 5.4% during the forecast period.
- Global High Strength Steel (Yield Strength ≥700MPa) MarketSize(US$ Million), 2019-2030
Source: QYResearch, "High Strength Steel (Yield Strength ≥700MPa)- Global Market Share and Ranking, Overall Sales and Demand Forecast 2024-2030”
- Global High Strength Steel (Yield Strength ≥700MPa) Top17 Players Rankingand Market Share (Ranking is based on the revenue of 2023, continually updated)
Source: QYResearch, "High Strength Steel (Yield Strength ≥700MPa)- Global Market Share and Ranking, Overall Sales and Demand Forecast 2024-2030”
According to QYResearch Top Players Research Center, the global key manufacturers of High Strength Steel (Yield Strength ≥700MPa) include Arcelormittal, SSAB, ThyssenKrupp, Voestalpine, Dillinger, JFE, Tata, Baowu, llsenburger Grobblech, Nisco, etc. In 2023, the global top 10 players had a share approximately 83.0% in terms of revenue.
Market Drivers:
D1: Requirements and demand for improved material and energy efficiency, as well as for productivity, are important drivers leading to the growing use of high-strength steels, which provide advantages in the form of stronger, lighter and more durable steel solutions.
D2: The rapid development of manufacturing industry. With the rapid development of global manufacturing, especially the rise of high-end equipment, new energy vehicles and other fields, the application of ultra-high-strength steel has become increasingly widespread. These fields have extremely high requirements on material performance, so high-strength steel is favored for its excellent properties such as high strength, high toughness, and wear resistance.
D3: Government support for the new materials industry. In order to promote the development of new materials industry, governments of various countries have introduced a series of supporting policies and capital investment.
Restraint:
R1: High-strength steels are relatively expensive to manufacture, mainly because of the special processes and materials required for their production. The high cost limits their use in cost-sensitive applications, especially in some developing countries and regions.
R2: Technical challenges. Despite the excellent physical and chemical properties of high-strength steel, technical challenges remain in its production and processing. For example, processes such as welding, cutting and heat treatment are more difficult and require professional technology and equipment support. This increases the complexity of production and processing and limits the widespread application of high-strength steel.
R3: With the global awareness of environmental protection, governments have introduced strict environmental policies. These policies put forward higher requirements for the steel industry.
About The Authors
| Jiang Jinxiu - Lead Author |
| Email: jiangjinxiu@qyresearch.com |
| Jinxiu Jiang is a technology & market senior analyst specializing in chemical industry. Jiang has rich research experience in chemical industry and focuses on perfluoropolyethers, lubricating greases and heat transfer oils, trichlorohydrosilicon, petroleum needle coke, zirconia beads, high-strength glass fibers, long-glass fiber reinforced polypropylene, isostearic acid and its derivatives, and polytetrahydrofuran, etc. She is engaged in the development of technology and market reports and is also involved in custom projects. |
About QYResearch
QYResearch founded in California, USA in 2007.It is a leading global market research and consulting company. With over 17 years’ experience and professional research team in various cities over the world QY Research focuses on management consulting, database and seminar services, IPO consulting, industry chain research and customized research to help our clients in providing non-linear revenue model and make them successful. We are globally recognized for our expansive portfolio of services, good corporate citizenship, and our strong commitment to sustainability. Up to now, we have cooperated with more than 60,000 clients across five continents. Let’s work closely with you and build a bold and better future.
QYResearch is a world-renowned large-scale consulting company. The industry covers various high-tech industry chain market segments, spanning the semiconductor industry chain (semiconductor equipment and parts, semiconductor materials, ICs, Foundry, packaging and testing, discrete devices, sensors, optoelectronic devices), photovoltaic industry chain (equipment, cells, modules, auxiliary material brackets, inverters, power station terminals), new energy automobile industry chain (batteries and materials, auto parts, batteries, motors, electronic control, automotive semiconductors, etc.), communication industry chain (communication system equipment, terminal equipment, electronic components, RF front-end, optical modules, 4G/5G/6G, broadband, IoT, digital economy, AI), advanced materials industry Chain (metal materials, polymer materials, ceramic materials, nano materials, etc.), machinery manufacturing industry chain (CNC machine tools, construction machinery, electrical machinery, 3C automation, industrial robots, lasers, industrial control, drones), food, beverages and pharmaceuticals, medical equipment, agriculture, etc.
Contact Us:
If you have any queries regarding this report or if you would like further information, please contact us:
QY Research Inc.
Add: 17890 Castleton Street Suite 369 City of Industry CA 91748 United States
E-mail: global@qyresearch.com
Tel: 001-626-842-1666(US) 0086-133 1872 9947(CN)
EN: https://www.qyresearch.com
JP: https://www.qyresearch.co.jp