openPR Logo
Press release

Electrical Steel Market Forecasted to Reach US$ 38.5 Bn Value by 2026-End

02-15-2019 06:53 AM CET | Industry, Real Estate & Construction

Press release from: Future Market Insights

Electrical Steel Market Forecasted to Reach US$ 38.5 Bn Value

Although the challenges hampering electrical steel processing have been creating a longstanding roadblock to rapid expansion of the global electrical steel market, Future Market Insights projects that the briskly growing prominence of nickel-iron alloys in the industry will continue to create an overall positive growth scenario for the electrical steel market in the near future. FMI, in its recently released intelligence outlook on the global market for electrical steel, forecasts healthy growth for the electrical steel market over the next eight years.

During 2016-2026, the global revenue of electrical steel market is anticipated to expand at a robust CAGR of 7.3% and approach a value worth US$ 38.5 Bn by the end of 2026. With over 70% value share in the global electrical steel market revenue, the non-grain oriented electrical steel type is presumed to remain a larger shareholder throughout the forecast period.

Request For Report Sample @

High-permeability grain-oriented steel continues to gather momentum

Several macroeconomic factors will continue to pose a significant influence on the growth of electrical steel market, including steel industry output, purchase power parity, consumer appliances spending, power generation and distribution market, and growth of the automotive industry. Swelling demand for high-permeability-grain-oriented electrical steel intended to leverage its high permeability is specifically identified to offer a strong boost to the electrical steel market growth through 2026.

Expanding application base in Asian economies enables transformers to remain largest revenue generator

By application, transformers are expected to account for the maximum, i.e. more than 25% share of the total electrical steel market value, and are expected to maintain a higher value share in the electrical steel market throughout the projection period. This performance is prominently attributed to the rapidly strengthening economies in Southeast Asia, coupled with increasing direct investments in urbanization, rural electrification projects, and emerging industrial set-ups.

China, being the most lucrative market for electrical steel and component manufacturers, will continue to present highly attractive revenue generation opportunities to the players dealing in transformers. Moreover, Chinese economy is all set to embrace further industrialization involving new hydroelectric power stations and a range of other sustainable energy systems to meet the anticipated power requirement. FMI predicts this development to expedite the demand for electrical steel in transformer applications in China, eventually pushing the expansion of the electrical steel market in Asia Pacific (excluding Japan) over 2016-2026.

The demand for electrical steel in APEJ will continue to be on the rise in the near future, predominantly attributed to tremendous economic and infrastructural developments in the major countries within the Asian Pacific rim. Moreover, various ongoing projects such as power grid installations and capacity expansion of renewable energy installations are foreseen to further strengthen the demand for electrical steel through 2026. As indicated by regional analysis of the global electrical steel market, APEJ will continue to reign supreme globally, followed by Eastern Europe and North America, in terms of growth rate.

Increasing adoption of surface deposition technique and growing popularity of Hi-Lite steel in high speed motors to dictate market positions of manufacturers

A majority of manufacturers are harnessing diverse properties of electrical steel to enhance a wide range of applications, including high-speed supercars, consumer electronics and appliances, and a variety of GO and NGO products. Some of the latest market trends have already been adopted by leading electrical steel manufacturers such as increasing use of the surface deposition technique for increased silicon or aluminum concentration on a low silicon or aluminum substrate, and growing use of the laser treatment for curtailed core loss.

Request For Report Table of Content (TOC): https://www.futuremarketin

A large number of products are being patented for a variety of applications, which is expected to shape the growth of the electrical steel market in the near future. The demand for surface coatings is witnessing high traction in typical application areas, in addition to the escalating demand for Hi-Lite grade electrical steel to be used in high speed motors. Applications analysis of the electrical steel market points at an important fact that manufacturers are increasingly inclined towards patenting their electrical steel products for specific applications.

About Us
Future Market Insights is the premier provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centres in the U.S. and India.
FMI’s research and consulting services help businesses around the globe navigate the challenges in a rapidly evolving marketplace with confidence and clarity. Our customised and syndicated market research reports deliver actionable insights that drive sustainable growth. We continuously track emerging trends and events in a broad range of end industries to ensure our clients prepare for the evolving needs of their consumers.

Contact Us
U.S. Office
616 Corporate Way, Suite 2-9018,
Valley Cottage, NY 10989,
United States
T: +1-347-918-3531
F: +1-845-579-5705

This release was published on openPR.

Permanent link to this press release:

Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Electrical Steel Market Forecasted to Reach US$ 38.5 Bn Value by 2026-End here

News-ID: 1590583 • Views: 226

More Releases from Future Market Insights

How Changing Dynamics of Cable Testing Market are Reflecting on Growth Strategie …
Global Cable Testing Market: Introduction The cost of the substitution of cables that are concealed is very high. Faults in the cable, bending, kinking, and crushing, are not always visible, which has created the requirement for cable testing. Thus, cable testing helps check the cable functionality, cable quality, and cable conformity. Several times, cable testing by visual inspection is an effective way of identifying the actual problem before it causes any
How Transformative Trends in Self-Organising Network Market are Molding Strategi …
Self-Organising Network: Introduction With accelerated advancements and increasing complexities in the radio network technologies, such as those utilised for the development of LTE and 5G networks, which are used for planning, management, configuration, healing and optimisation, are required to be automated to facilitate efficiency. At present, suppliers are offering self-organising networks that possess the ability to offer optimum performance. Self-organising networks are use cases that perform network governance, including network planning,
Mining Vehicle AC Kits Market: Exploring the Impact of Trends on Strategies of K …
Mining Vehicle AC Kits Market: Introduction Cabin space in mining equipment has become more sophisticated in the recent past. The installation of mining vehicle AC kits has evolved from an optional feature to a necessary feature. Mining equipment manufacturers have made advancements in technology related to efficiency, performance and cost of air conditioning systems in order to make them affordable and economical to enable low-budget and compact installations without compromising on
Key Factors to Fuel Growth of the Talent Acquisition & Staffing Technology and S …
With the growing importance of recruiting and retaining top talent effectively and efficiently, smart hiring processes are the need of the hour. It is about time organisations move beyond merely scrutinising resumes. Salaries and benefits are important factors, but adopting ways that would make candidates an important part of the hiring process will attract the best talent. Studies reveal that due to discrepancies in existing Applicant Tracking Systems (ATS), hiring

All 5 Releases

More Releases for FMI

Combat Support Vehicle Market: Global Forecast over 2028 Says FMI
Combat Support Vehicle Market: Introduction Combat support vehicles are units that provide fire assistance and operational assistance to combat elements. Combat support vehicles fulfil a wide variety of support roles. For instance, they act as a protected ambulance, provide enhanced fire power, command and control, combat engineering functions and serve as a base for intelligence, security and communications. Combat support vehicles also provide a high degree of maneuverability and protection. With
Agar Market to surpass US$ 357,091.6 by 2026 | FMI
Agar being used as an essential natural ingredient in food and beverages; in technical application; in bacteriological and many other sectors is propelling the demand for agar. Future Market Insights (FMI) estimates global agar volume to surpass 10,968.8 tonnes by 2016 end and represent market value of over US$ 220,838.5. In global market, the demand for agar is dominated by food and beverage segment which especially includes bakery and dairy products.
FMI Releases New Report on the Camphor Market 2015 – 2025
Camphor is a crystalline and translucent terpene ketone with a pleasant odor. Camphor is predominantly produced from distillation of wood and bark of the camphor tree. Physical properties of camphor differ depending on the origin, species and growing conditions of the tree. Camphor is generally whitish or has light shades of different colors including gray and olive among others. Moreover, camphor can be synthetically produced by synthesis of turpentine oil
Duodenoscope Market Intelligence and Forecast by FMI 2016-2026
Duodenoscope is a side viewing endoscope primarily designed for Endoscopic Retrograde Cholangiopancreatography (ERCP) to diagnose diseases associated with pancreas and bile ducts with the help of fluoroscopic imaging procedure. Duodenoscopes are flexible, light weighted tubes that are relieved through the mouth, throat, and stomach till the duodenum portion. Duodenoscopes are being used in more than 500,000 gastrointestinal procedures in the U.S each year as a minimally invasive way than traditional
Pharmaceutical Solvent Market Forecast and Prospectus : FMI Research
Global Market for Pharmaceutical Solvents Projected to Witness Sluggish Growth A majority of medicines & drugs produced in the world are derived from formulating Active Pharmaceutical Ingredients (API), and such processes require alcoholic solvents such as ethanol, isopropanol, propanol and propylene glycol. Production of pharmaceutical solvents continues to be concentrated in the Asia-Pacific excluding Japan (APEJ) region as leading API suppliers and drug manufacturers in the world have based their production units
Temperature Controlled Packaging Solutions Market Analysis : FMI
While North America will continue to be the most attractive market, the temperature controlled packaging solutions market in Asia Pacific excluding Japan (APEJ) will witness steady gains. According to a comprehensive analysis on the global temperature controlled packaging solutions market by Future Market Insights, companies seeking thermally-regulated packaging solutions for unhampered delivery of their products will continue to opt for insulated containers, with chest-type containers accounting for significant demand. However, during