Grand View Research has published a new research that contains revenue forecast, current growth trends, trend analysis and competitor analysis in the Automotive Steel Market.
Start of automotive manufacturing in growing economies like Indonesia, Malaysia, India and Thailand has pushed vehicle production significantly whereas the rise in road accidents and governments strict policies is pushing Automotive Steel market for more R&D and growth in Automotive Steel market.
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Automotive steel market is divided into four distinct categories; Power train, body structure, suspension and others. Body structure contributed the most to the automotive steel market in 2018 with 34% of the overall revenue whereas in terms of volume, the most sold category among light commercial, heavy commercial and passenger vehicles was passenger vehicles that accounted for almost 73% of the total market share.
Europe is among world’s largest producer of vehicles in the world but Asia Pacific accounted for the highest market share mainly due to India and China.
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