Electrical Steel Market Overview 2023-2032 – Market Growth Analysis, Trends And Drivers

The Business Research Company’s Electrical Steel Global Market Report 2023 is the most detailed report available on the market, including broad forecast periods and multiple geographies. The report covers the historic period – 2010-2021, and the forecast period – 2023-2032. The Electrical Steel Global Market Report 2023 evaluates electrical steel market size, growth rate, drivers, trends, and major companies.

The report provides a global perspective by covering 60 geographies and focusing on major economies in each region – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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The global electrical steel market is expected to grow from $43,819.3 million in 2027 at a rate of 6.14%. The market is then expected to grow at a CAGR of 7.30% from 2027 and reach $62,335.29 million in 2032.

Growth of population globally is expected to drive the demand for electrical steel going forward. An increase in population boosts the need for electricity, automobiles, appliances and others, driving demand for electrical steel. According to data from the UN, the world population is expected to reach 9.8 billion by 2050.  The rising urbanization is also expected to contribute to the growth of the market in the forecast period. According to the United Nations, by 2050, it is estimated that around 68% of the total world population will live in urban areas, up from the 55% of the world’s population living in urban areas currently.   The rapid growth in urbanization and global population especially in the developing economies is expected to generate high demand for the electrical steel market.

 

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The electrical steel market segments in the report are:

1) By Type: Grain-Oriented, Non-Grain-Oriented

2) By Industry: Energy, Automotive, Household Appliances, Manufacturing, Other Industries.

3) By Application: Transformers, Generators, Motors, Other Applications

The table of contents in TBRC’s electrical steel market report includes:

1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis

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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis

 

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