Global Electrical Steel Market Research and Upcoming Forecast Report
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Report Description and Highlights Report Description Electrical Steel Market Outlook 2026:
According to the latest report by IMARC Group, titled "Global Electrical Steel Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026," the global electrical steel market reached a value of US$ 34.8 Billion during 2015-2020. Electrical steel refers to a ferromagnetic material that is mainly used in the manufacturing of automobiles and electromagnetic devices. It is generally manufactured using iron and silicon that provides increased resistivity and permeability while reducing hysteresis loss. It is usually melted or cast continuously in an oxygen furnace for attaining the desired shape and thickness while removing the impurities and brittle materials. As a result, it is extensively utilized in the production of rotating and static machines, such as power and distribution transformers, magnetic switches and relays, hermetic and intermittent service motors, inductors, solenoids, and batteries. Request for a PDF sample of this report: https:// www.imarcgroup.com/electrical-steel-market/requestsample
Report Description and Highlights
Report Description
Global Electrical Steel Market Trends:
The global market is primarily driven by the rising adoption of electric vehicles (EVs). Coupled with the increasing preferences for light-weighted automobile variants among individuals, this is providing an impetus to the market growth on the global level. Along with this, rising investments and funding toward infrastructural development projects, including metro stations, warehouses and industrial buildings, is acting as one of the key factors driving the growth of the market. Moreover, the increasing government initiatives promoting the use of renewable resources and the rising need for efficient power transmission, especially across remote locations, are creating a positive outlook for the market. Also, the increasing upgradation activities of existing grid networks and smart grids development are also bolstering the demand for electrical steel. Other factors, including continuous improvements in the automotive and energy industries and extensive research and development (R&D) activities conducted by key players, are also contributing to the market growth. On account of the aforementioned factors,the market is anticipated to grow at a CAGR of?5.3% during the forecast period (2021-2026).
Report Description and Highlights
Report Description Key Market Segmentation: Breakup by Type:
•Grain Oriented Electrical Steel •Non-Grain Oriented Electrical Steel
Breakup by Application: •Transformers •Motors •Generators •Others
Breakup by End Use Industry: •Energy and Power •Automobiles •Household Appliances •Building and Construction •Others
Report Description and Highlights
Report Description Breakup by Region:
•North America •Asia Pacific •Europe •Latin America •Middle East and Africa Note: We are updating our research report 2021-2026. If you want to need latest primary and secondary data with Cost Module, Business Strategy, Distribution Channel, etc
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Report Description Competitive Landscape:
•Aperam •ArcelorMittal •Baoshan Iron & Steel Co. Ltd. (China Baowu Steel Group Corp. Ltd.) •China Steel Corporation •JFE Holdings Inc. •JSW Steel Ltd. •Nippon Steel Corporation •POSCO, SIJ - Slovenian Steel Group d. d. •Steel Authority of India Limited, Sumitomo Corporation •Tata Steel Limited •ThyssenKrupp AG •United States Steel Corporation •Voestalpine AG. •Tarvand Saffron Co. View Report TOC, Figures and Tables: https://www.imarcgroup.com/electrical-steel-market
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Report Description and Highlights
Report Description
© 2019 IMARC All Rights Reserved This Publication and all it’s contents unless otherwise mentioned are copyrighted in the name of International Market Analysis Research and Consulting (IMARC). No part of this publication may be reproduced, repackaged, redistributed or resold in whole or in any part. The publication may also not be used in any form or by and means graphic electronic or mechanical, including photocopying, recording, taping or by information storage or retrieval, or by any other form, without the express consent of International Market Analysis Research and Consulting (IMARC). Disclaimer: All contents and data of this publication, including forecasts, data analysis and opinion have been based on information and sources believed to be accurate and reliable at the time of publishing. International Market Analysis Research and Consulting makes no representation of warranty of any kind as to the accuracy or completeness of any Information provided. IMARC accepts no liability whatsoever for any loss or damage resulting from opinion, errors or inaccuracies if any found this publication. IMARC, IMARC Group and Global Therapy Insight Series are registered trademarks of International Market Analysis Research and Consulting. All other trademarks used in this publication are registered trademarks of their respective companies.
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