Press release
European Sales Of Electrical Steel Are Estimated At Around US$ 6.3 Billion In 2022
250 Pages Europe Electrical Steel Survey by Fact MR, A Leading Business and Competitive Intelligence ProviderLatest industry survey by Fact MR, predicts Europe Electrical Steel sales to swell at propelled CAGR through 2031, as chemical and materials sales gradually recover post disruptions caused by COVID-19. The report is aimed at furnishing insights into hidden growth opportunities and challenges. It also provides recommendations to aid businesses prep for unforeseen challenges.
The market intelligence study therefore includes demographics analysis so market players can plan their product and marketing strategy. It offers sales outlook in 20+ countries. It identifies the most lucrative segments to assist companies in creating winning strategies for future.
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The report offers actionable and valuable market insights of Europe Electrical Steel. The latest report by Fact.MR provides details on the present scenario of the market across various regions along with the historic data and forecast of the market. The report also includes information on the sales and demand of Europe Electrical Steel across various industries and regions.
The market study done by Fact.MR gives exclusive information about how the market will grow. The study identifies crucial trends that are determining the growth of Europe Electrical Steel. This newly published report sheds light on vital dynamics, such as the drivers, restraints, and opportunities for key market players as well as emerging players associated with the production and supply. The latest report by Fact.MR provides detailed Market Analysis of Europe Electrical Steel
This newly published and insightful report sheds light on Market Insights of Europe Electrical Steel, key dynamics, their impact on the overall value chain from suppliers to end-users and Growth of Europe Electrical Steel.
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Competitive Landscape
Focus on geographical and capacity expansion along with investing resources in intensifying manufacturing capacities to augment production are the key strategies of European manufacturers of electrical steel.
In addition to this, they are also investing in developing innovative products to be used for several applications and fulfil the varied demands of clients.
For instance :
ArcelorMittal acquired John Lawrie Metals Ltd. in 2022. The company is a Scottish steel recycling business, and its acquisition will allow ArcelorMittal to enhance the use of steel to reduce CO2 emissions from steelmaking.
In 2021, Novolipetsk Steel (NMLK) announced the building of a grain-oriented steel plant in the state of Maharashtra in India. The installation of metal structures has already been commenced and the plant will produce 64,000 MT of grain-oriented steel annually.
Electrical steel is specialized steel and has assured magnetic properties that provide high permeability, resulting in a low core loss. Electrical steel properties are dependent on the amount of silicon in it, since its addition improves permeability, increases resistivity, and reduces hysteresis loss.
The electrical steel industry in Europe is likely to progress at a significant pace as market players are striving to enhance their production capacity. Adoption of advanced production technologies has proven to be beneficial for the industry as it has resulted in increased production efficiency.
Factors such as output of the steel industry, consumer appliance spending, power generation and distribution market, automotive industry growth, etc., will further supplement market growth over the coming years.
Short Term (2022 Q2 to 2025): Properties of electrical steel providing several benefits such as ensuring high permeability and resulting in low core loss to support short-term market growth.
Medium Term (2025-2028): Prominent market players will invest in research & development to develop innovative product materials and capacity & geographic expansion in the medium term.
Long Term (2028-2032): Product innovations in electrical steel will drive the application scope of electrical steel and propel long-term market expansion.
As per detailed industry analysis by Fact.MR, a market research and competitive intelligence provider, the European electrical steel market registered 7.6% historical growth during 2017 to 2021. According to the analysis, the market is predicted to expand at 10.3% CAGR through the forecast years (2022-2032).
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Key Segments of Europe Electrical Steel Industry Survey
Europe Electrical Steel Market by Product Type :
Grain-Oriented Electrical Steel
Non-Grain-Oriented Electrical Steel
Fully-Processed
Semi-Processed
Europe Electrical Steel Market by Application :
Inductors
Transformers
Transmission
Portable
Distribution
Motors
1hp - 100hp
101hp - 200hp
201hp - 500hp
501hp - 1000hp
Above 1000hp
Europe Electrical Steel Market by End-use Industry :
Automotive
Manufacturing
Energy
Household Appliances
Others (Construction, Fabrication)
Europe Electrical Steel Market by Country :
Germany
Italy
France
Spain
U.K.
Russia
BENELUX
Rest of Europe
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Report Benefits & Key Questions Answered
Europe Electrical Steel Company & brand share analysis: The report offers brand-share analysis on Europe Electrical Steel to offer a more in-depth competition deep-dive. This is intended at assisting companies at proactive long-term planning.
Europe Electrical Steel Historical volume analysis: Factors affecting sales in the past are analyzed in detail. The report also offers comparative analysis between growth trajectory exhibited in 2016-2020 and 2021-2031.
Europe Electrical Steel Category & segment level analysis: To offer a comprehensive analysis, the market identifies leading segments and highlights chief factors enabling growth across these categories.
Europe Electrical Steel Consumption by demographics: The demographic analysis is intended at providing recommendations to companies to help them create growth strategies around dynamic consumption patterns.
Europe Electrical Steel Manufacturing trend analysis: Manufacturing trend analysis is the key highlight of the study. It offers vital data on strategies adopted by market players to align their manufacturing strategies as per prevailing market trends.
Post COVID consumer spending on Europe Electrical Steel: The survey offers a chapter dedicated to analyzing post COVID consumer behavior. Changes in their spending pattern are carefully analyzed to offer insights into potential impact on Europe Electrical Steel
More Valuable Insights on Europe Electrical Steel
Fact.MR, in its new report, offers an unbiased Market Analysis of Europe Electrical Steel, Sales and Demand of Europe Electrical Steel, analyzing forecast statistics through 2019 and beyond. The study reveals growth projections on the basis of various criteria.
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