Research Reports
Electrical Steel Market is expected to reach US$ 70.5 Bn by 2031, Exclusive Report By Future Market Insights
Published by Uma Rajagopal
Posted on January 6, 2022
Global Banking and Finance Review
Company
Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.
Published by Uma Rajagopal
Posted on January 6, 2022
The global sales of electrical steel are set to be valued at over US$ 37.5 Bn in 2021, with a stable long-term projection, according to latest insights by Future Market Insights (FMI). The report estimates the market to expand at over 6.5% CAGR from 2021 to 2031.
According to the annual market analysis conducted by Future Market Insights, expansion of the energy and automobile industries has led to heightened demand for electrical steel products. Rapid technological advancements in production technologies are also projected to complement market growth over the coming years.
In spite of the recessionary effect of the COVID-19 pandemic in 2020, the overall steel industry in terms of production and supply has largely remained unaffected. With the continual demand from the energy industry, growth of electrical steel in the coming decade is expected to reflect an upward trajectory for the foreseeable future.
Demand for electrical steel is increasing with the rise in the volume of transformer and motor production and sales in recent years. This can be attributed to an increase in investments and expansion of new power generation and transmission projects in developing nations.
The growing requirement of mass production has resulted in increased importance of process automation in the electrical steel market. The market is shifting towards Industry 4.0 norms, leading to the promotion and universal adoption of new production technologies.
There is also an increasing demand from energy and automotive industries for deployment of electrical steel in various applications. Increasing number of players focusing on research and development related to electrical steel is anticipated to have a significant contribution towards market growth in the years to come.
Download FREE Sample Copy of Report: https://www.futuremarketinsights.com/reports/sample/rep-gb-883
Key Takeaways from Electrical Steel Market Study
“The electrical steel market is growing at a strong pace driven largely by increasing demand from the energy industry for applications in motors, transformers, and components. The increasing investment in power generation and transmission projects will create extensive opportunities for electrical steel manufacturers. Key industry participants are investing in expansions, strategic alliances, partnerships, and material innovations to gain a competitive advantage in the evolving global market. These partnerships will allow companies to improve their production capacity and strengthen their technical expertise,” says a Future Market Insights analyst.
Competitive Landscape
The electrical steel market is moderately consolidated, with key players accounting for more than 50% of the market share. These players are likely to invest in new technology developments and expansion of their networks in order to maintain their market shares.
Some of the key players in this industry include but are not limited to Novolipetsk Steel, Voestalpine Stahl GmbH, POSCO, Nippon Steel & Sumitomo Metal Corporation, ThyssenKrupp AG, JFE Steel Corporation, ArcelorMittal SA, Aperam SA, Baosteel Group, AK Steel Holding Corp, Allegheny Technologies, Inc., Phoenix Mecano AG, and Steel Authority of India Limited.
Request a Complete TOC of this Report with figures: https://www.futuremarketinsights.com/toc/rep-gb-883
Electrical Steel Market by Category
By Product Type:
By Application:
By End Use:
By Region:
Feel free to ask your queries at https://www.futuremarketinsights.com/ask-question/rep-gb-883
Find More Valuable Insights
The research report analyzes demand for electrical steel. The global electrical steel market has been analyzed with the COVID-19 impact, various macroeconomic factors, market trends and market background. As per Future Market Insights, the market has been analyzed on the basis of product type, application, end-use, and region. The report provides qualitative and quantitative information on various players in this market. This report also tracks the market by both, supply side and demand factors.
Explore FMI’s Extensive Coverage on Chemicals & Materials Domain
Copper Foil Market: Increasing need for energy storage and electric and hybrid cars is poised to drive the copper foil market in Europe.
Compound Semiconductor Materials Market: The global compound semiconductor material market will grow at 7.2% CAGR through 2030.
Precipitated Barium Sulphate Market: The precipitated barium sulphate market has been gaining significantly from the expansion of construction and renovation works. Also, the rising demand for effective coatings in automotive sector is compounding growth prospects for the market.
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
Contact:
Corporate Headquarter
Future Market Insights,
1602-6 Jumeirah Bay X2 Tower,
Plot No: JLT-PH2-X2A,
Jumeirah Lakes Towers, Dubai,
United Arab Emirates
For Sales Enquiries: sales@futuremarketinsights.com
For Media Enquiries: press@futuremarketinsights.com
Website: https://www.futuremarketinsights.com/
Report: https://www.futuremarketinsights.com/reports/electrical-steel-market
Press Release Source: https://www.futuremarketinsights.com/press-release/electrical-steel-market
The global sales of electrical steel are set to be valued at over US$ 37.5 Bn in 2021, with a stable long-term projection, according to latest insights by Future Market Insights (FMI). The report estimates the market to expand at over 6.5% CAGR from 2021 to 2031.
According to the annual market analysis conducted by Future Market Insights, expansion of the energy and automobile industries has led to heightened demand for electrical steel products. Rapid technological advancements in production technologies are also projected to complement market growth over the coming years.
In spite of the recessionary effect of the COVID-19 pandemic in 2020, the overall steel industry in terms of production and supply has largely remained unaffected. With the continual demand from the energy industry, growth of electrical steel in the coming decade is expected to reflect an upward trajectory for the foreseeable future.
Demand for electrical steel is increasing with the rise in the volume of transformer and motor production and sales in recent years. This can be attributed to an increase in investments and expansion of new power generation and transmission projects in developing nations.
The growing requirement of mass production has resulted in increased importance of process automation in the electrical steel market. The market is shifting towards Industry 4.0 norms, leading to the promotion and universal adoption of new production technologies.
There is also an increasing demand from energy and automotive industries for deployment of electrical steel in various applications. Increasing number of players focusing on research and development related to electrical steel is anticipated to have a significant contribution towards market growth in the years to come.
Download FREE Sample Copy of Report: https://www.futuremarketinsights.com/reports/sample/rep-gb-883
Key Takeaways from Electrical Steel Market Study
“The electrical steel market is growing at a strong pace driven largely by increasing demand from the energy industry for applications in motors, transformers, and components. The increasing investment in power generation and transmission projects will create extensive opportunities for electrical steel manufacturers. Key industry participants are investing in expansions, strategic alliances, partnerships, and material innovations to gain a competitive advantage in the evolving global market. These partnerships will allow companies to improve their production capacity and strengthen their technical expertise,” says a Future Market Insights analyst.
Competitive Landscape
The electrical steel market is moderately consolidated, with key players accounting for more than 50% of the market share. These players are likely to invest in new technology developments and expansion of their networks in order to maintain their market shares.
Some of the key players in this industry include but are not limited to Novolipetsk Steel, Voestalpine Stahl GmbH, POSCO, Nippon Steel & Sumitomo Metal Corporation, ThyssenKrupp AG, JFE Steel Corporation, ArcelorMittal SA, Aperam SA, Baosteel Group, AK Steel Holding Corp, Allegheny Technologies, Inc., Phoenix Mecano AG, and Steel Authority of India Limited.
Request a Complete TOC of this Report with figures: https://www.futuremarketinsights.com/toc/rep-gb-883
Electrical Steel Market by Category
By Product Type:
By Application:
By End Use:
By Region:
Feel free to ask your queries at https://www.futuremarketinsights.com/ask-question/rep-gb-883
Find More Valuable Insights
The research report analyzes demand for electrical steel. The global electrical steel market has been analyzed with the COVID-19 impact, various macroeconomic factors, market trends and market background. As per Future Market Insights, the market has been analyzed on the basis of product type, application, end-use, and region. The report provides qualitative and quantitative information on various players in this market. This report also tracks the market by both, supply side and demand factors.
Explore FMI’s Extensive Coverage on Chemicals & Materials Domain
Copper Foil Market: Increasing need for energy storage and electric and hybrid cars is poised to drive the copper foil market in Europe.
Compound Semiconductor Materials Market: The global compound semiconductor material market will grow at 7.2% CAGR through 2030.
Precipitated Barium Sulphate Market: The precipitated barium sulphate market has been gaining significantly from the expansion of construction and renovation works. Also, the rising demand for effective coatings in automotive sector is compounding growth prospects for the market.
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
Contact:
Corporate Headquarter
Future Market Insights,
1602-6 Jumeirah Bay X2 Tower,
Plot No: JLT-PH2-X2A,
Jumeirah Lakes Towers, Dubai,
United Arab Emirates
For Sales Enquiries: sales@futuremarketinsights.com
For Media Enquiries: press@futuremarketinsights.com
Website: https://www.futuremarketinsights.com/
Report: https://www.futuremarketinsights.com/reports/electrical-steel-market
Press Release Source: https://www.futuremarketinsights.com/press-release/electrical-steel-market