Best Prospects In The Global Electrical Steel Market And Strategies For Growth – Includes Electrical Steel Market Trends
The Business Research Company’s report goes into great detail on the electrical steel market size and growth, electrical steel market regional analysis, electrical steel market competitive landscape, and other critical information needed to excel in the electrical steel industry.
Major players 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.
TBRC’s comprehensive market report based on extensive research will assist you in seamlessly devising your approaches in order to match key market player strategies.
The global electrical steel market is expected to grow from $24.80 billion in 2021 to $26.28 billion in 2022 at a compound annual growth rate (CAGR) of 5.95%. The market is then expected to reach $33.12 billion in 2026 at a CAGR of 7.50%.
The electrical steel market consists of sales of electrical steel by entities (organizations, sole traders, or partnerships) that refer to a ferromagnetic material made up of iron that contains varying amounts of silicon (Si) that range from 1% to 6.5%. Electrical steel is soft magnetic material with enhanced electrical properties that are widely used across applications such as small relays, solenoids, electric motors, generators, and many other electromagnetic devices.
Increasing demand for the electric and hybrid vehicles is significantly contributing to the growth of the electrical steel market.
The increasing development of sustainable products is a key trend gaining popularity in the electric steel market. Companies in the market are focusing on manufacturing electric steel that is environment friendly and emits lower greenhouse gases.
TBRC’s global electrical steel market report is segmented:
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: North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
The Electrical Steel Global Market Report 2022 is one of a series of new reports from The Business Research Company that provides an overview of the electrical steel market globally and regionally, analyzes and forecasts market size, share, electrical steel market players, electrical steel market segments, leading competitor revenues, profiles and market shares.
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