Electrical Steel Market Sales

Electrical Steel Market Value Chain, Dynamics and Key Players 2020 to 2030

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Electrical steel is a valuable steel variant which has acquired its cardinal position in the global market due to the rising demand for electric motors and electric cars. Fact.MR has conducted a precise evaluation on the overall electrical steel market in order to draw striking conclusions which can be utilized by industry experts, investors and other readers.

According to this research published by Fact.MR, the demand for electrical steel was evaluated at 16 thousand kilo tonnes in 2018. It has been examined that the overall growth of the electrical steel market is attributed to several factors such as rising interest of steel companies to put up with evolving trends in the concerned marketplace. Moreover, fluctuating trade measures are causing decline in exports and further solidifying domestic electrical steel production. The above represented scenario is projected to expand the global electrical steel market at a positive CAGR of ~6.2% over the assessment period (2020-2030).

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New Research Report on Electrical Steel Market 2018 - 2026

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Global demand for electrical steel is estimated to reach 15,900 kilo tonnes in 2018, according to Fact.MR valuation. The landscape of niche steel presents immense opportunities as their demand outsells that of steel consumption. Overall growth of the electrical steel market can be attributed to,

Growing interest of steel companies to accommodate the evolving trends in the electrical steel marketplace
Changing trade measures leading to declining exports and strengthening domestic electrical steel production
Considerable demand for electrical steel in the automotive industry, particularly in electrical vehicles
Fact.MR study finds a consistently rising consumption of electrical steel wherein an increase of almost 900 kilo tonnes between 2017 and 2018 and a y-o-y growth of 6.7% is estimated.

“Trade actions are the most prominent influencer of the electrical steel industry wherein every action of steelmakers is being driven by a need to improve steel margins. Major investments are focused on improving competitiveness by introducing product portfolio with higher quality and higher effective utilization. Along the same lines, niche steel variants have significant opportunities wherein industry profitability is rising consistently,” says a senior analyst at Fact.MR.