Global Electrical steel Market is valued approximately at USD 32.3 billion in 2018 and is anticipated to grow with a healthy growth rate of more than 7% over the forecast period 2019-2026. Electrical steel is primarily used for lamination processes in the cores of electrical components. Electrical steel is widely used in the core manufacturing of motors, inductors and other. These are essential for the electromagnetic machines that generate power. Electrical steel has huge demand from power sector as these electrical steels have wide application in power sector and energy generating sectors. According to the U.S. Department of Energy, the electricity demand in the United States is projected to grow approximately by 40% by 2030. The increase in power demand is expected to encourage the adoption of electrical steel in transformer and other power generating. In addition, rapidly increasing urban population across the globe is one of the major factors that increases the need for electrical steels. Growing urban population, increasing the electricity demand contributes towards the growth of global electrical steel market. Moreover, upcoming regulations and government support is expected to create significant growth opportunity in the market over the forecast period. Volatility and fluctuations in prices of raw materials used in the manufacturing of electrical steel is one of the major factors restraining the growth of global electrical steel market during forecast period 2019-2026.

The regional analysis of global Electrical steel market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Europe is the leading/significant region across the world in terms of market share owing to increasing electricity consumption, investments for renovation and upgradation of grid infrastructure and rising demand for electronics. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2019-2026. Factors such as rise in construction sector development has increased the power demand which has resulted in installation of new and efficient transformers coupled government initiatives to promote accompanied with rising infrastructure development would create lucrative growth prospects for the Electrical steel market across Asia-Pacific region.

Major market player included in this report are:
Arcelormittal
Posco
Voestalpine Group
Baosteel
Nippon Steel & Sumitomo Metal Corporation
United States Steel Corporation
Steel Authority of India Limited
Tata Steel Limited
JFE Steel Corporation
Essar Steel
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Type:
Non-Grain-Oriented Steel
Grain-Oriented Steel
By Application:
Transformers
Motors
Inductors
Others
By End-use industry:
Energy
Automobiles
Manufacturing
Household Appliances
Others

By Region:
North America
U.S.
Canada
Europe
UK
Germany
Asia Pacific
China
India
Japan
Latin America
Brazil
Mexico
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year - 2016, 2017
Base year - 2018
Forecast period - 2019 to 2026

Target Audience of the Global Electrical steel Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors