Automotive Steel Market Industry Outlook, Size, Growth Factors, and Forecast To, 2030

The market for automotive steel is divided into four segments: suspension, power train, body structure, and others. In 2023, body structure had the biggest market share. Durability, production efficiency, and mechanical, chemical, or heat resistance are among the many attributes that are important when choosing a material, especially for the body. Steel is the preferred material for manufacturers since it possesses all the required attributes.