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India Quenched and Tempered Steel Market Size, Share, Growth, Forecast: By Grade: Grade 80, Grade 400, Grade 500, Others; By Thickness and Width: Thickness: 3 mm - 300 mm, Width: 1000 mm - 4500 mm; By Usage: Structural, Pressure Vessels; By Application: Automotive, Others; Regional Analysis; Competitive Landscape; 2024-2032
India Quenched and Tempered Steel Market Outlook
The India quenched and tempered steel market size is expected to grow at a CAGR of 3.1% between 2024 and 2032. The major market drivers are increasing infrastructural development, growing construction industry, and heightened automotive production.
Key Trends in the Market
Quenched and tempered steel is high-strength steel with high durability, ductility, and toughness that achieves its properties by undergoing processes of quenching and tempering. In quenching, the steel is heated to very high temperatures and subsequently undergoes rapid cooling. Tempering typically takes place after quenching, where the steel is heated for a certain amount of time and then cools off in air.
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- The growing construction industry due to increasing population and rapid urbanisation and industrialisation is a key trend fuelling the growth of the market for quenched and tempered steel in India.
- Increasing initiatives taken by the government of India to strengthen the infrastructure of the country are also anticipated to positively influence the expansion of the India quenched and tempered steel market.
- Rising demand from the automotive sector for quenched and tempered steel due to propelling requirement for vehicles and increasing disposable incomes is another key trend fuelling the growth of the India quenched and tempered steel market.
Market Analysis
Based on grade, the India quenched and tempered steel market is segmented into grade 80, grade 400, and grade 500, among others. On the basis of thickness and width, the market is divided into thickness: 3 mm - 300 mm and width: 1000 mm - 4500 mm. Based on usage, the market is bifurcated into structural and pressure vessels. On the basis of application, the market is segregated into automotive, shipbuilding, general engineering and construction, chemical and petrochemical, mining, aerospace, pulp and paper, power plants (thermal and renewable), defence, and nuclear, among others. Based on region, the market is divided into North India, East India, West India, and South India.
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The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the India quenched and tempered steel market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.
- Essar Steel Ltd (Arcelor-Nippon Steel JV)
- SSAB AB
- JFE Steel Corporation
- Nippon Steel and Sumitomo Metal Corporation
- ThyssenKrupp AG
- Wuhan Iron & Steel Group
- Anshan Iron & Steel Group
- Jiangsu Shagang Group
- Posco
- Baosteel Group Co Ltd
- Bisalloy Steel Group
- Nanjing Iron & Steel Company Ltd
- Others
Market Share by Grade
Grade 80 is anticipated to account for a significant share of the India quenched and tempered steel market, over the forecast period. This is due to their wide range of applications in storage tanks, excavator and loader buckets, and high-rise buildings and bridges, among others. Meanwhile, grade 400 is projected to witness significant growth in the quenched and tempered steel market in India owing to their increased adoption in automotive industry in gear wheels. Grade 400 quenched and tempered steel is also used in making deflector plates that reduce the reverse torque by improving the coefficient of power.
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Competitive Landscape
SSAB AB is a steel company that was founded in 1978 and is based in Stockholm, Sweden. They specialise in processing of raw materials to produce steel and aim to create a more sustainable world.
Nippon Steel and Sumitomo Metal Corporation is a steel manufacturing company that was founded in 1950 and is based in Tokyo, Japan. They are focused on steel fabrication and steel making, system solutions, and chemicals, and materials, among others.
Other market players include Essar Steel Ltd (Arcelor-Nippon Steel JV), JFE Steel Corporation, ThyssenKrupp AG, Wuhan Iron & Steel Group, Anshan Iron & Steel Group, Jiangsu Shagang Group, Posco, Baosteel Group Co Ltd, Bisalloy Steel Group, and Nanjing Iron & Steel Company Ltd, among others
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Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Grade |
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| Breakup by Thickness and Width |
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| Breakup by Usage |
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| Breakup by Application |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 India Quenched and Tempered Steel Market Overview
8.1 Key Industry Highlights
8.2 India Quenched and Tempered Steel Historical Market (2018-2023)
8.3 India Quenched and Tempered Steel Market Forecast (2024-2032)
9 India Quenched and Tempered Steel Market by Grade
9.1 Grade 80
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Grade 400
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
9.3 Grade 500
9.3.1 Historical Trend (2018-2023)
9.3.2 Forecast Trend (2024-2032)
9.4 Others
10 India Quenched and Tempered Steel Market by Thickness and Width
10.1 Thickness: 3 mm - 300 mm
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Width: 1000 mm - 4500 mm
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
11 India Quenched and Tempered Steel Market by Usage
11.1 Structural
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Pressure Vessels
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
12 India Quenched and Tempered Steel Market by Application
12.1 Automotive
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Shipbuilding
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 General Engineering and Construction
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Chemical and Petrochemical
12.4.1 Historical Trend (2018-2023)
12.4.2 Forecast Trend (2024-2032)
12.5 Mining
12.5.1 Historical Trend (2018-2023)
12.5.2 Forecast Trend (2024-2032)
12.6 Aerospace
12.6.1 Historical Trend (2018-2023)
12.6.2 Forecast Trend (2024-2032)
12.7 Pulp and Paper
12.7.1 Historical Trend (2018-2023)
12.7.2 Forecast Trend (2024-2032)
12.8 Power Plants (Thermal and Renewable)
12.8.1 Historical Trend (2018-2023)
12.8.2 Forecast Trend (2024-2032)
12.9 Defence
12.9.1 Historical Trend (2018-2023)
12.9.2 Forecast Trend (2024-2032)
12.10 Nuclear
12.10.1 Historical Trend (2018-2023)
12.10.2 Forecast Trend (2024-2032)
12.11 Others
13 India Quenched and Tempered Steel Market by Region
13.1 North India
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 East India
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 West India
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South India
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
15 Innovations and Trends
16 Three Year Projects in the Market
17 Price Analysis
18 Competitive Landscape
18.1 Market Structure
18.2 Company Profiles
18.2.1 Essar Steel Ltd (Arcelor-Nippon Steel JV)
18.2.1.1 Company Overview
18.2.1.2 Product Portfolio
18.2.1.3 Demographic Reach and Achievements
18.2.1.4 Certifications
18.2.2 SSAB AB
18.2.2.1 Company Overview
18.2.2.2 Product Portfolio
18.2.2.3 Demographic Reach and Achievements
18.2.2.4 Certifications
18.2.3 JFE Steel Corporation
18.2.3.1 Company Overview
18.2.3.2 Product Portfolio
18.2.3.3 Demographic Reach and Achievements
18.2.3.4 Certifications
18.2.4 Nippon Steel and Sumitomo Metal Corporation
18.2.4.1 Company Overview
18.2.4.2 Product Portfolio
18.2.4.3 Demographic Reach and Achievements
18.2.4.4 Certifications
18.2.5 ThyssenKrupp AG
18.2.5.1 Company Overview
18.2.5.2 Product Portfolio
18.2.5.3 Demographic Reach and Achievements
18.2.5.4 Certifications
18.2.6 Wuhan Iron & Steel Group
18.2.6.1 Company Overview
18.2.6.2 Product Portfolio
18.2.6.3 Demographic Reach and Achievements
18.2.6.4 Certifications
18.2.7 Anshan Iron & Steel Group
18.2.7.1 Company Overview
18.2.7.2 Product Portfolio
18.2.7.3 Demographic Reach and Achievements
18.2.7.4 Certifications
18.2.8 Jiangsu Shagang Group
18.2.8.1 Company Overview
18.2.8.2 Product Portfolio
18.2.8.3 Demographic Reach and Achievements
18.2.8.4 Certifications
18.2.9 Posco
18.2.9.1 Company Overview
18.2.9.2 Product Portfolio
18.2.9.3 Demographic Reach and Achievements
18.2.9.4 Certifications
18.2.10 Baosteel Group Co Ltd
18.2.10.1 Company Overview
18.2.10.2 Product Portfolio
18.2.10.3 Demographic Reach and Achievements
18.2.10.4 Certifications
18.2.11 Bisalloy Steel Group
18.2.11.1 Company Overview
18.2.11.2 Product Portfolio
18.2.11.3 Demographic Reach and Achievements
18.2.11.4 Certifications
18.2.12 Nanjing Iron & Steel Company Ltd
18.2.12.1 Company Overview
18.2.12.2 Product Portfolio
18.2.12.3 Demographic Reach and Achievements
18.2.12.4 Certifications
18.2.13 Others
19 Key Trends and Developments in the Market
20 Strategic Recommendations
20.1 Product Mix
20.2 Pricing Strategies
20.3 Key End-Use and Region to focus.
List of Key Figures and Tables
1. India Quenched and Tempered Steel Market: Key Industry Highlights, 2018 and 2032
2. India Quenched and Tempered Steel Historical Market: Breakup by Grade (USD Million), 2018-2023
3. India Quenched and Tempered Steel Market Forecast: Breakup by Grade (USD Million), 2024-2032
4. India Quenched and Tempered Steel Historical Market: Breakup by Thickness and Width (USD Million), 2018-2023
5. India Quenched and Tempered Steel Market Forecast: Breakup by Thickness and Width (USD Million), 2024-2032
6. India Quenched and Tempered Steel Historical Market: Breakup by Usages (USD Million), 2018-2023
7. India Quenched and Tempered Steel Market Forecast: Breakup by Usages (USD Million), 2024-2032
8. India Quenched and Tempered Steel Historical Market: Breakup by Application (USD Million), 2018-2023
9. India Quenched and Tempered Steel Market Forecast: Breakup by Application (USD Million), 2024-2032
10. India Quenched and Tempered Steel Historical Market: Breakup by Region (USD Million), 2018-2023
11. India Quenched and Tempered Steel Market Forecast: Breakup by Region (USD Million), 2024-2032
12. India Quenched and Tempered Steel Market Structure
Key Questions Answered in the Report
The market is expected to grow at a CAGR of 3.1% between 2024 and 2032.
The major market drivers include growing construction industry, increasing infrastructural development, and propelling demand for automotives.
The key trends fuelling the growth of the market include product innovations, technological advancements, and rising demand from solar and wind power plants for building turbines, among other structures.
The major regions in the market are North India, East India, West India, and South India.
The various grades of quenched and tempered steel in the market are grade 80, grade 400, and grade 500, among others.
The primary usages of quenched and tempered steel in India are structural and pressure vessels.
The significant applications of the quenched and tempered steel market in India are automotive, shipbuilding, general engineering and construction, chemical and petrochemical, mining, aerospace, pulp and paper, power plants (thermal and renewable), defence, and nuclear, among others.
The key players in the India quenched and tempered steel market, according to the report, are Essar Steel Ltd (Arcelor-Nippon Steel JV), SSAB AB, JFE Steel Corporation, Nippon Steel and Sumitomo Metal Corporation, ThyssenKrupp AG, Wuhan Iron & Steel Group, Anshan Iron & Steel Group, Jiangsu Shagang Group, Posco, Baosteel Group Co Ltd, Bisalloy Steel Group, and Nanjing Iron & Steel Company Ltd, among others.
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