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Electrical Steel Market 2023 - Industry Insights, New Trends, Growth, And Forecast To 2032
Electrical Steel Market
Electrical Steel Market Size, Growth Rate, And Forecast
The global electrical steel market size grew from $26.47 billion in 2022 to $28.3 billion in 2023 at a compound annual growth rate (CAGR) of 6.9%. The electrical steel market size is expected to grow to $36.9 billion in 2027 at a CAGR of 6.9%.
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Electrical Steel Market Drivers
Increasing demand for electric and hybrid vehicles is significantly contributing to the growth of the electrical steel market. Electrical steel has high flux density and low iron loss properties, and is thus used in electric motors to realise high motor efficiency.
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Electrical Steel Market Segments
• By Type: Grain-Oriented, Non-Grain-Oriented
• By Industry: Energy, Automotive, Household Appliances, Manufacturing
• By Application: Large Power Transformers, Distribution Transformers, Small Transformers, Power Generators, Audio Transformers
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the electrical steel market.
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Electrical Steel Market Key Players
Major competitors in the electrical steel market include ThyssenKrupp AG, TISCO, Nippon Steel, Posco, JFE Steel, Nicore Electrical Manufactory Co. Ltd., Voestalpine, ArcelorMittal, AK Steel (Cleveland-Cliffs), SAIL, Cogent Power Ltd., Tempel Steel Company, Phoenix Mecano AG, JFE Steel Corporation, Leicong Industrial Co., Ltd., United States Steel Corporation, Novolipetsk Steel and Allegheny Technologies Inc.
The Business Research Company's "Global Electrical Steel Market Report 2023" is a comprehensive report of the market, covering over 60 geographies and high level market segmentation per geography. The section on regional and country breakdowns examines the market in each geography as well as market size by region and country. Furthermore, it evaluates the market's historical and projected growth and identifies significant trends and strategies that businesses can use to expand their operations.
The Table Of Content For The Electrical Steel Market Include:
1. Executive Summary
2. Electrical Steel Market Characteristics
3. Electrical Steel Market Trends And Strategies
4. Electrical Steel Market - Macro Economic Scenario
5. Electrical Steel Market Size And Growth
……
26. Africa Electrical Steel Market
27. Electrical Steel Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Electrical Steel Market
29. Electrical Steel Market Future Outlook And Potential Analysis
30. Appendix
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