Electrical Steel Industry

Demand for Electrical Steel in Automobiles Industry is Expect to Reach US$ 55.1 billion by 2032 | Fact.MR Research

Key Takeaways

– In terms of product, grain-oriented electrical steel is anticipated to dominate the segment, accounting for over 50% of total sales. – Transformers will emerge as the most lucrative area of application in the electrical steel market, commanding over 2 out of 5 sales. – Energy generation will remain the prominent end-use, holding over 1/3rd of the revenue share.

Key Companies Profiled

– Novolipetsk Steel – Voestalpine Stahl GmbH – POSCO – Nippon Steel – Sumitomo Metal Corporation – ThyssenKrupp AG – JFE Steel Corporation – Cogent Power – ArcelorMittal SA – Aperam SA – Baosteel Group – AK Steel Holding Corp – Allegheny Technologies Inc.

Analyst View

“Growing adoption of high-performance transformers, coupled with government initiatives supplementing electrification in various countries are prominent factors steering the growth of the electrical steel market,”

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