In 2020, steel for automotive and aerospace applications became a 128.7 billion U.S. dollar market. According to recent estimates, the global market size was expected to reach 175 billion USD by 2027, mainly as a result of the growing demand for lightweight vehicles.
Size of the steel market for automotive and aerospace applications worldwide between 2020 and 2027
(in billion U.S. dollars)
This Statista estimate is based on the 2027 values and the compound annual growth rate from 2021 to 2027 of 5.4 percent, which were provided by the source. An exponential development of the market was assumed.
2020 value was also provided by the source.
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Statista. (March 10, 2022). Size of the steel market for automotive and aerospace applications worldwide between 2020 and 2027 (in billion U.S. dollars) [Graph]. In Statista. Retrieved December 23, 2024, from https://www.statista.com/statistics/1109592/automotive-aerospace-steel-market-size-worldwide/
Statista. "Size of the steel market for automotive and aerospace applications worldwide between 2020 and 2027 (in billion U.S. dollars)." Chart. March 10, 2022. Statista. Accessed December 23, 2024. https://www.statista.com/statistics/1109592/automotive-aerospace-steel-market-size-worldwide/
Statista. (2022). Size of the steel market for automotive and aerospace applications worldwide between 2020 and 2027 (in billion U.S. dollars). Statista. Statista Inc.. Accessed: December 23, 2024. https://www.statista.com/statistics/1109592/automotive-aerospace-steel-market-size-worldwide/
Statista. "Size of The Steel Market for Automotive and Aerospace Applications Worldwide between 2020 and 2027 (in Billion U.S. Dollars)." Statista, Statista Inc., 10 Mar 2022, https://www.statista.com/statistics/1109592/automotive-aerospace-steel-market-size-worldwide/
Statista, Size of the steel market for automotive and aerospace applications worldwide between 2020 and 2027 (in billion U.S. dollars) Statista, https://www.statista.com/statistics/1109592/automotive-aerospace-steel-market-size-worldwide/ (last visited December 23, 2024)
Size of the steel market for automotive and aerospace applications worldwide between 2020 and 2027 (in billion U.S. dollars) [Graph], Statista, March 10, 2022. [Online]. Available: https://www.statista.com/statistics/1109592/automotive-aerospace-steel-market-size-worldwide/
