DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "Electrical Steel Market - Global Forecast to 2021" report to their offering.
The electrical steel market size will grow from USD 27.84 Billion in 2016 to USD 38.98 Billion by 2021, at an estimated CAGR of 7.0%. The electrical steel market is witnessing considerable growth due to advancements in technology and the high efficiency of electrical steel. The electrical steel market has immense opportunities due to the increasing demand from the power sector.
On the basis of type, the electrical steel market is segmented into grain-oriented and non grain-oriented electrical steel. Non grain-oriented electrical steel is projected to grow at a higher CAGR during the forecast period. Increased in the production of automobiles where electrical steel is used as a core material in motor parts to improve the comfort, power performance, and fuel economy of automobiles is expected to increase the demand for non-grain oriented electrical steel products.
In terms of value, the transformer industry, by application, is projected to grow at the highest CAGR during the forecasted year. Factors such as increase in demand for energy on a global scale is expected to drive the transformers segment over the next few years. Moreover, the need for upgrading transmission and distribution networks and equipment is expected to be a critical success factor for the growth of the transformers industry.
In terms of value, the energy sector, by end-use, is projected to grow at the highest rate during the forecast period. This can be attributed to the growth of economies across the globe, which is directly linked to the growth of the power sector. In addition, the growing industrialization in developed & developing economies is also expected to further drive the energy segment in the electrical steel market.
- Allengency Technologies
- Angang Steel Company Limited
- Arcelor Mittal
- China Steel Corporation
- Electrosteel Limited
- Essar Steel
- Hebei Puyang Iron And Steel Group
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Electrical Steel Market, By Type
7 Electrical Steel Market, By Application
8 Electrical Steel Market, By End-Use Industry
9 Electrical Steel Market, By Region
10 Competitive Landscape
11 Company Profile
For more information about this report visit http://www.researchandmarkets.com/research/jl7b82/electrical_steel