Global Automotive Steel Market Size & Outlook, 2024-2030
The global automotive steel market size was estimated at USD 84,699.6 million in 2024 and is projected to reach USD 123,414.3 million by 2030, growing at a CAGR of 6.5% from 2025 to 2030.
Revenue, 2024 (US$M)
$84,699.6
Forecast, 2030 (US$M)
$123,414.3
CAGR, 2025 - 2030
6.5%
Report Coverage
Worldwide
Global automotive steel market, 2018-2030 (US$M)
Related Markets
Global automotive steel market highlights
- The global automotive steel market generated a revenue of USD 84,699.6 million in 2024 and is expected to reach USD 123,414.3 million by 2030.
- The market is expected to grow at a CAGR (2025 - 2030) of 6.5% by 2030.
- In terms of segment, passenger vehicle accounted for a revenue of USD 53,029.1 million in 2024.
- Heavy Commercial Vehicle is the most lucrative vehicle type segment registering the fastest growth during the forecast period.
- In terms of region, Asia Pacific was the largest revenue generating market in 2024.
- Country-wise, India is expected to register the highest CAGR from 2025 to 2030.
Global data book summary
| Market revenue in 2024 | USD 84,699.6 million |
| Market revenue in 2030 | USD 123,414.3 million |
| Growth rate | 6.5% (CAGR from 2025 to 2030) |
| Largest segment | Passenger vehicle |
| Fastest growing segment | Heavy Commercial Vehicle |
| Historical data covered | 2018 - 2023 |
| Base year for estimation | 2024 |
| Forecast period covered | 2025 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Passenger Vehicle, Light Commercial Vehicle, Heavy Commercial Vehicle |
Other key industry trends
- In terms of revenue, the North America accounted for 24.0% of the global automotive steel market in 2024.
- By country, the China is projected to lead the global market in terms of revenue in 2030.
- By country, India is the fastest growing regional market and is projected to reach USD 7,578.1 million by 2030.
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Automotive Steel Market Scope
Automotive steel market segmentation & scope
Automotive Steel Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| China Baowu Steel Group | View profile | 1001-5000 | Shanghai, Shanghai, China, Asia | http://www.baowugroup.com |
| Hyundai Steel | View profile | 10001+ | Seoul, Seoul-t'ukpyolsi, South Korea, Asia | https://www.hyundai-steel.com |
| JSW Steel | View profile | 5001-10000 | Mumbai, Maharashtra, India, Asia | https://www.jswsteel.in |
| United States Steel Corp | View profile | 21803 | 600 Grant Street, Pittsburgh, PA, United States, 15219-2800 | https://www.ussteel.com |
| POSCO Holdings Inc ADR | View profile | 44501 | POSCO Center, 440 Teheran-ro, Gangnam-gu, Seoul, Korea, Republic of, 06194 | https://www.posco.co.kr |
| Nippon Steel Corp | View profile | 121990 | 6-1, Marunouchi 2-chome, Chiyoda-ku, Tokyo, Japan, 100-8071 | https://www.nipponsteel.com |
| JFE Holdings Inc | View profile | 44469 | 2-2-3 Uchisaiwaicho, Chiyoda-ku, Tokyo, Japan, 100-0011 | http://www.jfe-holdings.co.jp |
| ArcelorMittal SA Depository Receipt | View profile | 126756 | 24-26, Boulevard d’Avranches, Luxembourg, Luxembourg, L-1160 | http://www.arcelormittal.com |
| Nucor Corp | View profile | 32000 | 1915 Rexford Road, Charlotte, NC, United States, 28211 | https://www.nucor.com |
| Tata Steel Ltd GDR - 144A | View profile | 73496 | 24 Homi Mody Street, Bombay House, Fort, Mumbai, MH, India, 400 001 | https://www.tatasteel.com |
Global automotive steel market size, by regions, 2018-2030 (US$M)
Top 10 countries: Automotive steel market size, 2024 (US$M)
Global automotive steel market share, by application, 2024 & 2030 (%, US$M)
Automotive steel market: Opportunity assessment by country
Global automotive steel market, by region, 2024 (US$M)
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