Press release
What's Driving The Electrical Steel Market Trends? Key Company Profiled in Aperam Mitsui & Co., Ltd., SIJ Asia GmbH i.L. ArcelorMittal Europe, Cogent Power Inc., U. S. Steel Košice s.r.o., POSCO-POGGENAMP ELECTRICAL STEEL PRIVATE LIMITED, KOBE STEEL LTD
Electrical Steel Market
Grain-oriented electrical steel market size from small transformers may witness favorable growth during the forecast timeframe. These products convert energy into power voltages which is then utilized in various industries and power generation systems. Rising demand of electricity in rural and urban areas as they are economically feasible for various networks and are suitable for remote and rural areas, further accelerate industry demand.
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According to a new research report by Global Market Insights, Inc. Electrical Steel Market size is set to surpass USD 22.5 billion by 2025.
Growth drivers are
• North America: Growing demand from energy generation & transmission industries
• Europe: Increasing usage of electrical vehicles
• Asia Pacific: Rise in end-use applications
Grain-oriented electrical steel market demand from distribution transformers was valued at over USD 1.4 billion in 2018. These products offer reliability, durability and efficiency required in commercial and industrial applications. These transformers can be used indoor as well as outdoor owing to their portable size. Rising government regulations pertaining to emissions and investments by manufacturers in R&D activities is likely to boost market growth.
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
Aperam
Mitsui & Co., Ltd.
SIJ Asia GmbH i.L.
ArcelorMittal Europe
Cogent Power Inc.
U. S. Steel Košice s.r.o.
POSCO-POGGENAMP ELECTRICAL STEEL PRIVATE LIMITED
KOBE STEEL LTD
JFE Steel America, Inc.
NOMAX ELECTRICAL STEEL PRIVATE LIMITED
Big River Steel
thyssenkrupp
Tempel
Voestalpine
Arnold Magnetic Technologies
U.S. non-grain oriented electrical steel market demand should record gains of about 5.5% by 2025. It finds usage in electric hybrid vehicles for efficient magnetism and optimum electricity conversion. It imparts high efficiency, control harmful gases emission, thus hep in significant contribution to environment protection and are thereby used in industrial, aerospace and medical applications.
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UK non-grain oriented electrical steel market size from automotive applications was valued at USD 45 million in 2018. High anti corrosion properties and stringent government regulations to reduce VOC emissions will enhance the existing automotive infrastructure which in turn will boost domestic steel market growth. Technological advancements, increasing demand for e-vehicles and government support are key factors that will optimize the overall industry growth.
China grain oriented electrical steel market demand from household appliances is estimated to account over USD 95 million by 2025 pertaining to the new innovations in the manufacturing of household appliances like refrigerator and washing machines. Rising standard of living and per capita income of consumers has resulted in increased power distribution network in the region. Increasing consumer electronics sales and rising demand in end-use industries should accelerate electrical steel market growth.
Cogent Power Ltd, Aperam, Voestalpine, Tempel, Thyssenkrupp and KOBE are the key industrial participants catering to the industry. Manufacturers are engaged in strategic mergers & acquisitions to enhance their regional presence and improve product portfolio. Companies are expanding their collaboration network to develop innovative products which should accelerate the market growth.
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Electrical steel market research report includes in-depth coverage of the industry, with estimates & forecast in terms of volume in Tons and revenue in USD from 2014 to 2025, for the following segments:
Electrical Steel Market, By Product
• Grain-Oriented Electrical Steel
o By application
• Large power transformers
• Distribution transformers
• Small transformers
• Power Generators
• Audio transformers
• Others
o By end-use
• Energy
• Automotive
• Manufacturing
• Household Appliances
• Non-Grain Oriented Electrical Steel
o By product
• Semi-processed
• Fully processed
o By application
• Power generators
• Motors
• Ballasts
• Rotating machines
• Small transformers
• Audio transformers
• Others
o By end-use
• Energy
• Automotive
• Manufacturing
• Household Appliances
Contact Us
Contact Person: Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1 888-689-0688
Email: sales@gminsights.com
Web: https://www.gminsights.com
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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