Title: Electrical Steel Market 2023-2032: Outlook, Growth, And Demand
1Electrical Steel Global Market Report 2023
Market Size, Trends and Global Forecast 2023-2032
2Electrical Steel Market Segments
The Business Research Company segments its
electrical steel market report as
Grain-Oriented, Non-Grain-Oriented
By Type
Energy, Automotive, Household Appliances,
Manufacturing
By Industry
Large Power Transformers, Distribution
Transformers, Small Transformers, Power
Generators, Audio Transformers
By Application
By Industry Vertical
By End Users
3Market Statistics
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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4Key Market Drivers And Trends
Drivers
Increasing demand for electric and hybrid
vehicles is significantly contributing to the
growth of the electrical steel market.
Trends
The increasing development of sustainable
products is a key trend gaining popularity in the
electric steel market.
Region
Asia-Pacific was the largest region in the
electrical steel market in 2022. North America is
expected to be the fastest-growing region in the
forecast period. The regions covered in the
electrical steel market report are Asia-Pacific,
Western Europe, Eastern Europe, North America,
South America, the Middle East, and Africa.
5Key Market Players
- Major players in the electrical steel market are
- ThyssenKrupp AG
- TISCO
- Nippon Steel
- Posco
- JFE Steel
- Voestalpine
- And more.
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