Global Electric Steel Market | Trends, Growth, Share, Size

1
The Global Electric Steel Market to Proliferate
at 5.85 of CAGR by 2028
Triton Market Research presents the Global
Electric Steel Market report segmented by Type
(Non-Grain- oriented, Grain-oriented Semi
Processed Grain-oriented Steel, Fully Processed
Grain-oriented Steel), by Application
(Inductors, Transformers Power Transformers,
Current Transformers, Distribution
Transformers, Motors, Others), by End-user
(Automobiles, Household Appliances, Energy,
Manufacturing, Others), by Geographical Region
(North America, Europe, Asia-Pacific, Latin
America, Middle East and Africa), discussing
Porters Five Force Analysis, Key Impact
Analysis, Drivers, Opportunities, Restraints,
Vendor Scorecard, Global Market Size, Forecasts
Analysis (2020-2028).
A Triton Market Research report illustrates that
the Global Electric Steel Market is growing at a
rate of 5.85 over the forecasting years
2020-2028. The growing urban populace, rising
demand for transformers motors, growing demand
by the power sector and the increasing traction
for electric vehicles are some of the major
factors driving the global market growth.
Government rules and regulations are also in
favor of the electric steel markets growth.
However, the volatility in the prices of the raw
materials, used in the manufacturing of electric
steel, is restraining the market growth. Besides,
safety and technological constraints are likely
to challenge the market growth. Request a Free
Sample https//www.tritonmarketresearch.com/repor
ts/electric-steel-marketrequest-
free-sample Electric steel refers to a special
type of steel that can generate magnetic
properties with small hysteresis, resulting in
minimized core loss, high permeability and
reduced power loss. It finds applications in
transformers, power generators and
motors. Considering the geographical landscape,
Asia-Pacific is anticipated to be the
fastest-growing region for the electric steel
market in the forecasted years. It is also likely
to be the largest market collecting the
2
highest revenue worldwide. The rapidly growing
urban population in countries like India and
China is the key factor driving the growth of
the electric steel market. As a result of
urbanization, technological advancements will
take place, which will make use of electric steel
on a large scale. Moreover, increasing
government investments in promoting the adoption
of electric steel is expected to augment market
growth further. The notable players in the
electric steel market are SAIL (Steel Authority
Of India Limited), ArcelorMittal, Nippon Steel
Corporation, Orchids International, POSCO,
Sko-Die Inc, ChinaSteel, AK Steel Corporation,
Thyssenkrupp AG, BRS (Big River Steel),
Voestalpine AG, Arnold Magnetic Technologies,
Baosteel Group, Tata Steel and JFE Steel
Corporation. The majority of these firms are
focused on product development, mergers
acquisitions, expansions and technological
advancements to sustain their position in the
market. With the presence of big and small
players in the market, the competition is likely
to become fiercer. Contact Us
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