openPR Logo
Press release

Global Electrical Steel Market to Grow Exponentially Due to Rising Number of Construction Activities | Main Companies- ThyssenKrupp AG, AK Steel Corporation, Voestalpine Stahl GmbH, JFE Steel Corporation

01-27-2023 08:11 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Fortune Business Insights

Electrical Steel market

Electrical Steel market

The global electrical steel market is expected to gain impetus from the rising demand and consumption of electricity across the world. This information is published in an upcoming report by Fortune Business Insights, titled, "Electrical Steel Market Size, Share and Global Trend By Type (Grain-oriented, Non-Grain Oriented), By Application (Motors, Transformers, Inductors, Others), By End User (Energy, Automotive, Manufacturing, Household Appliance, Others), and Geography Forecast 2023-2030." According to the report, increasing demand for generators and transformers is anticipated to boost the global electrical steel market growth during the forecast period.

Get a Sample PDF of the Electrical Steel Market Analysis: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/100827

The report analyzes key market players and their market position in terms of core competencies and ranking in the global electrical steel market. It further provides elaborate insights into the most significant aspects of the global market, such as growth drivers, hindrances, regional analysis, accurate facts and figures, and segments.

This "Electrical Steel Market" research report provides businesses with essential data and information on the market's drivers, and the factors that affect the growth of the industry for the years 2023-2029. The research report offers users a view of how the market is doing right now and what trends are in force. The report will include a full and comprehensive analysis of the business operations of all market leaders in this industry, as well as their in-depth market research, historical market development, and information about their market competitors.

Rising Urban Population to Propel Global Electrical Steel Market Growth

A rise in the urban population around the world is considered to be one of the major factors increasing the global electrical steel market growth in the coming years. The rising population is further resulting in the increasing demand for electrical steel products. Demand for steel rises with the need for new infrastructure in the initial stage of a nation's development. This demand is created to create new power grid networks and enhanced connectivity. The rising population density in urban areas is giving rise to increasing construction activities.

Furthermore, the increasing disposable income of consumers and a rapid shift in consumer behavior is expected to contribute to the global electrical steel market growth in the forthcoming years. Besides, the high disposable income of consumers is resulting in increasing demand for automobiles, namely, hybrid electric vehicles and cars. These vehicles have several components, such as electrical power steering, fuel pump, and other similar equipment. Electrical steel is required for generating electromagnetic effects in all these operations.

Get a Quote: https://www.fortunebusinessinsights.com/enquiry/get-a-quote/100827

Research Methodology
Using secondary sources such as company websites, annual reports, press releases, financial data, investor presentations, articles, news, white papers, certified publications, and government publishing sources as a starting point for the research methodology used to estimate and forecast the size of the global Electrical Steel market. In addition, the research takes into account vendor offers in order to categorize the market.

Using this data, the research then calculates the size of the global Electrical Steel market using a bottom-up approach. Primary research included thorough interviews with senior executives, chief executive officers, and directors, as well as vice presidents (VPs) and managers to determine the size of the market. These categories and sub-segments were then confirmed and validated by secondary research. Data triangulation processes are then used to complete the total market engineering process and arrive at precise statistics for all segments and sub-segments.

Rising Construction of Solar Power Generation Plants to Favor Growth in Asia Pacific

The global electrical steel market is geographically categorized into Europe, Latin America, North America, Asia Pacific, and the Middle East and Africa. Out of these regions, Europe had exhibited steady growth in its power generation, distribution, and automotive industry. It is likely to positively impact the electrical steel market growth in this region in the forthcoming years. In Asia Pacific, emerging countries, such as China and India are showcasing rapid growth in the construction of solar power generation plants. The United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) stated that the total population in Asia Pacific is projected to reach approximately 5.1 billion by 2050. Out of this, around 64% population is assumed to belong to the urban areas. Combined with this, a rise in the production and sales of vehicles in this region is projected to contribute to the increasing electrical steel market revenue.

The Middle East and Africa, on the other hand, are expected to hold considerable electrical steel market share due to the moderately growing automotive industry as well as increasing power generation plants. However, moderate growth in the power distribution service and electrical industry will result in the electrical steel market growth in Latin America in the coming years.

Some of the prominent market players operating in the global electrical steel market. They are as follows:

Tata Steel Europe Limited
ThyssenKrupp AG
AK Steel Corporation
Voestalpine Stahl GmbH
JFE Steel Corporation
Arnold Magnetic Technologies
Nippon Steel Corporation
SMS Group GmbH
Big River Steel
Aperam S.A.
Posco Poggenamp Electrical Steel Pvt. Ltd.
Allegheny Technologies Incorporated
Marubeni-Itochu Steel, Inc.
Baosteel Co. Ltd
Normax Electrical Steel Pvt. Ltd.
Buy Exclusive Report- https://www.fortunebusinessinsights.com/checkout-page/100827

Contact Us:
Fortune Business Insights™ Pvt. Ltd.
9th Floor, Icon Tower, Baner-Mahalunge Road,
Baner, Pune-411045, Maharashtra, India.

Phone:
US: +1 424 253 0390
UK: +44 2071 939123
APAC: +91 744 740 1245
Email: sales@fortunebusinessinsights.com

About Us:
Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.

This release was published on openPR.

Permanent link to this press release:

Copy
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 Global Electrical Steel Market to Grow Exponentially Due to Rising Number of Construction Activities | Main Companies- ThyssenKrupp AG, AK Steel Corporation, Voestalpine Stahl GmbH, JFE Steel Corporation here

News-ID: 2901220 • Views:

More Releases from Fortune Business Insights

Reverse Flame Steam Boiler Market 2023 Dynamics, Major Players, SWOT Analysis, a …
Overview of the Global Reverse Flame Steam Boiler Market 2030: The report discusses everything a marketer requires before investing in the global Reverse Flame Steam Boiler Market during the forecast period 2023-2030. Reverse Flame Steam Boiler Market Size, Share And Global Trend By Capacity (Up to 100kW, 100-1000 kW, Above 1000 kW), By End-Use (Food Industry, Chemical Industry, Refineries, Metal Industry, Power Plant), And Geography Forecast Till 2022-2029. It provides detailed
Syngas and Derivatives Market Research Analysis, Size, Share, Growth Highlights …
Overview of the Global Syngas and Derivatives Market 2030: The report discusses everything a marketer requires before investing in the global Syngas and Derivatives Market during the forecast period 2023-2030. Syngas and Derivatives Market Size, Share and Global Trend By Feedstock(Coal, Petroleum, Natural Gas, Biomass), By Technology(Partial Oxidation, Steam Reforming, Auto-Thermal Reforming, and others), By End User(Chemicals, Power Generation, Liquid Fuels, Gaseous Fuels), and Geography Forecast till 2022-2029. It provides detailed
Port equipment Market Will Experience An Upswing In Demand, Driven By Top Players | Liebherr (Switzerland), TTS Group (Norway), Kalmar (Finland) Konecranes (Finland) |
Port equipment Market Will Experience An Upswing In Demand, Driven By Top Player …
The Port equipment Market Research Report provides an in-depth analysis of the market landscape and identifies future growth opportunities and trends until 2030. By offering valuable insights, the report enables companies to make informed decisions on business strategies and identify potential areas for growth. With a comprehensive assessment of the market, it equips businesses with the necessary tools to stay ahead of the competition. With this Port equipment Market research report,
Modular Chillers Market to reach USD 6.13 billion by 2026, at a CARG of 6.2% | LG Electronics, Mitsubishi Electric Corporation , Haier Group, Midea Group
Modular Chillers Market to reach USD 6.13 billion by 2026, at a CARG of 6.2% | L …
The Modular Chillers Market Report 2023 by Fortune Business Insights provides a comprehensive overview of the market's latest trends, size, regulations, key players, and strategies. The report offers valuable insights into the market's sales and revenue, product type, applications, regions, and leading players. Modular Chillers Market report also covers key players and competitor analysis, providing a comprehensive understanding of the industry's commercial landscape. The report is useful for gaining insights

All 5 Releases


More Releases for Steel

Miscellaneous Steel Detailing | Steel Detailer | Steel Detailing Services
We provide the highest quality of finished projects in the industry. Boasting unmatched turnaround times, and superb accuracy. WorldSteel Detailings has onboard team of experienced steel detailers and engineers with a wide range of experience from industrial and commercial projects to high rise buildings. By using innovative technologies and latest softwares, our structural steel detailing team provides accurate services as per your requirements based on country standards.Our steel detailing professionals
What's driving the Structural Steel Market trends? ArcelorMittal, Tata Steel, Ni …
A detailed study on ‘Structural Steel market’ formulated by Market Study Report, LLC, puts together a concise analysis of the growth factors impacting the current business scenario across assorted regions. Significant information pertaining to the industry’s size, share, application, and statistics are also summed in the report in order to present an ensemble prediction. In addition, this report undertakes an accurate competitive analysis illustrating the status of market majors in
What's driving the Structural Steel Market trends? ArcelorMittal, Tata Steel, Ni …
A detailed study on ‘Structural Steel market’ formulated by Market Study Report, LLC, puts together a concise analysis of the growth factors impacting the current business scenario across assorted regions. Significant information pertaining to the industry’s size, share, application, and statistics are also summed in the report in order to present an ensemble prediction. In addition, this report undertakes an accurate competitive analysis illustrating the status of market majors in
What's driving the Structural Steel Market trends? ArcelorMittal, Tata Steel, Ni …
A detailed study on ‘Structural Steel market’ formulated by Market Study Report, LLC, puts together a concise analysis of the growth factors impacting the current business scenario across assorted regions. Significant information pertaining to the industry’s size, share, application, and statistics are also summed in the report in order to present an ensemble prediction. In addition, this report undertakes an accurate competitive analysis illustrating the status of market majors in
What's driving the Structural Steel Market trends? ArcelorMittal, Tata Steel, Ni …
A detailed study on ‘Structural Steel market’ formulated by Market Study Report, LLC, puts together a concise analysis of the growth factors impacting the current business scenario across assorted regions. Significant information pertaining to the industry’s size, share, application, and statistics are also summed in the report in order to present an ensemble prediction. In addition, this report undertakes an accurate competitive analysis illustrating the status of market majors in
What's driving the Structural Steel market Share? Gerdau S.A, ArcelorMittal, Tat …
This Global Structural Steel market report studies the industry based on one or more segments covering key players, types, applications, products, technology, end-users, and regions for historical data as well as provides forecasts for next few years. According to this study, over the next five years the Structural Steel market will register a 5.1% CAGR in terms of revenue, the global market size will reach US$ 79700 million by 2024, from