Email
Print
Market Overview:
The North America Automotive Steel Market size is estimated to reach $31.8 Billion by 2031, growing at a CAGR of 3.1% during the forecast period 2025-2031, according to a recent report published by IndustryARC, titled, “North America Automotive Steel Market - By Steel Type (Stainless Steel, Low Carbon Steel, High Carbon Steel, Advanced High-Strength Steel and Galvanized steel), By Form (Sheets & coils, Bars & rods, Tubes & pipes, Plates and Others), By Manufacturing (Basic Oxygen Furnace (BOF), Electric Arc Furnace (EAF) and Others), By Coating (Bare Steel, Zinc-Coated Steel, Pre-Painted/Organic Coated Steel, Aluminium-Coated (Aluminized) Steel and Others), By Vehicle Type (Passenger Vehicles and Commercial Vehicles), By Application (Body and Structure, Chassis, Powertrain & Exhaust, Battery Pack, Propulsion System, Safety & Crash Protection and Others), By Country - Opportunity Analysis & Industry Forecast, 2025-2031”.
The increase in usage of stainless steel in automotive components is fueling the growth of the market significantly, the regulatory mandates for North American-produced steel in vehicle components is driving the production of automotive steel, which in turn driving the growth of the North America Automotive Steel market.
US Dominated the Market in 2024:
US accounted for the largest share of 65% of the North America Automotive Steel Market in 2024. In March 2024, Nucor Corporation signed an agreement to supply Mercedes-Benz with Econiq-RE steel for vehicles produced at the automaker’s Tuscaloosa, Alabama plant. Econiq-RE is a low-carbon steel made using 100% renewable energy, reducing greenhouse gas emissions to less than half of traditional blast furnace-based steel. Nucor aims to support Mercedes-Benz’s sustainability goals as the automaker moves toward a net carbon-neutral vehicle fleet. As the largest recycler in the Western Hemisphere, Nucor is committed to reducing emissions and advancing sustainable steel production, aligning with its Net-Zero GHG targets for 2050.
North America Automotive Steel Market: Key Takeaways
Regulatory Mandates for North American-produced Steel
The regulatory mandates for North American produced steel are driving the growth of the market. For instance, according to data from UNITED STATES – AUTOMOTIVE RULES OF ORIGIN, The USMCA introduced stricter rules for automotive trade compared to NAFTA. It raised the regional value content (RVC) requirement for vehicles from 62.5% to 75% for cars and light trucks and to 70% for heavy trucks. It also eliminated a NAFTA rule that had automatically deemed certain auto parts as North American, regardless of their actual origin. Additionally, USMCA added a new content requirement i.e., 70% of steel and aluminium used in North American auto production must come from the region. Such regulations are driving the growth of the market significantly.
For More Queries About "North America Automotive Steel Market " @ https://www.industryarc.com/reports/request-quote?id=800900
Growth in EV Production
The growth in EV production is driving the demand of North America Automotive Steel market. As EV manufacturing scales up in North America, it contributes to the overall increase in vehicle production numbers. This, in turn, driving the demand for automotive-grade steel. According to the Global EV Outlook 2024 Report by the IEA, in Mexico, electric car registrations were up 80% year-on-year. Given its proximity to the United States, Mexico’s automotive market is well integrated with North American partners and benefits from advantageous trade agreements, large existing manufacturing capacity,and eligibility for subsidies under the IRA. As a result, local EV supply chains are developing quickly, with expectations that this will spill over into domestic markets. Tesla, Ford, Stellantis, BMW, GM, Volkswagen (VW) and Audi have all either started manufacturing or announced plans to manufacture EVs in Mexico. Chinese carmakers such as BYD, Chery and SAIC are also considering expanding to Mexico. Thus, the growth in EV production is driving the growth of the market rapidly.
Scope of the Report:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Recent Developments:
• In February 2025, ArcelorMittal announced plans to construct a new electrical steel facility in Alabama to support the automotive and mobility sector, as well as renewable energy and industrial applications. The non-grain-oriented electrical steel (NOES) plant will have an annual production capacity of 150,000 metric tons, helping reduce U.S. dependence on imports.
• In March 2024, Nucor Corporation signed an agreement to supply Mercedes-Benz with Econiq-RE steel for vehicles produced at the automaker’s Tuscaloosa, Alabama plant. Econiq-RE is a low-carbon steel made using 100% renewable energy, reducing greenhouse gas emissions to less than half of traditional blast furnace-based steel
North America Automotive Steel Market: Competitive Landscape
Key companies profiled in the North America Automotive Steel Market are Nucor Corporation, United States Steel Corporation, ArcelorMittal, Cleveland-Cliffs Inc., Ternium, Steel Dynamics, Inc., Hyundai Steel America, Inc, Tata Steel, JFE Steel Corporation, United States Steel Corporation and others.
Related Reports:
Automotive Chassis Market - Automotive Chassis Market size is estimated to reach $ 30.8 billion by 2030, growing at a CAGR of 5.0% during the forecast period 2024-2030. The market for automotive chassis is primarily driven by increasing environmental concerns. Automakers are introducing hybrid powertrains across various vehicle segments to improve fuel efficiency, reduce emissions, and meet regulatory requirements.
Coated Steel Market - Coated Steel Market Size is forecast to reach $ 23605.58 Million by 2030, at a CAGR of 5.30% during forecast period 2024-2030. The increase in the number of construction and building activities is increasing the demand for coated steel market, as it is preferred owing to its varied advantages like protective coating, durability, hygienic, ease of inspection, economic and others.
Automotive Stainless Steel Tube Market - Automotive stainless steel tube market size is forecast to reach US$5.1 billion by 2026, after growing at a CAGR of 3.8% during 2021-2026. Stainless steel-based tubes are preferred in the automotive industry due to their favorable properties such as high strength, corrosion resistance, and ability to perform under extreme temperatures and pressures, which are driving the automotive stainless steel tube market growth.
About IndustryARC™:
IndustryARC primarily focuses on Market Research and Consulting Services specific to Cutting Edge Technologies and Newer Application segments of the market. The company’s Custom Research Services are designed to provide insights into the constant flux in the global demand-supply gap of markets.
IndustryARC’s goal is to provide the right information required by the stakeholder at the right point in time, in a format that assists an intelligent and informed decision-making process.
Contact Us:
Mr. Venkat Reddy
IndustryARC
Email: [email protected]
USA: (+1) 518-282-4727