Global Electrical Steel Market to Reach $49.3 Billion by 2027
Amid the COVID-19 crisis, the global market for Electrical Steel estimated at US$33.2 Billion in the year 2020, is projected to reach a revised size of US$49.3 Billion by 2027, growing at a CAGR of 5.8% over the period 2020-2027. Grain-Oriented, one of the segments analyzed in the report, is projected to record 5.5% CAGR and reach US$20.8 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Non Grain-Oriented segment is readjusted to a revised 6.1% CAGR for the next 7-year period.
The U.S. Market is Estimated at $9 Billion, While China is Forecast to Grow at 8.9% CAGR
The Electrical Steel market in the U.S. is estimated at US$9 Billion in the year 2020. China, the world's second largest economy, is forecast to reach a projected market size of US$10.4 Billion by the year 2027 trailing a CAGR of 8.8% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.2% and 5.2% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 3.7% CAGR.
Select Competitors (Total 41 Featured):
Amid the COVID-19 crisis, the global market for Electrical Steel estimated at US$33.2 Billion in the year 2020, is projected to reach a revised size of US$49.3 Billion by 2027, growing at a CAGR of 5.8% over the period 2020-2027. Grain-Oriented, one of the segments analyzed in the report, is projected to record 5.5% CAGR and reach US$20.8 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Non Grain-Oriented segment is readjusted to a revised 6.1% CAGR for the next 7-year period.
The U.S. Market is Estimated at $9 Billion, While China is Forecast to Grow at 8.9% CAGR
The Electrical Steel market in the U.S. is estimated at US$9 Billion in the year 2020. China, the world's second largest economy, is forecast to reach a projected market size of US$10.4 Billion by the year 2027 trailing a CAGR of 8.8% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.2% and 5.2% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 3.7% CAGR.
Select Competitors (Total 41 Featured):
- ArcelorMittal SA
- Baosteel Group Corporation
- China Steel Corporation
- Essar Steel India Ltd.
- Hebei Puyang Iron and Steel Group
- JFE Steel Corporation
- JSW Steel Ltd.
- Nippon Steel & Sumitomo Metal Corporation
- POSCO
- Steel Authority of India Ltd. (SAIL)
- Tata Steel Ltd.
- ThyssenKrupp AG
- Union Electric Steel Corporation
- United States Steel Corporation
- Wuhan Iron & Steel (Group) Corporation
Frequently Asked Questions about the Global Market for Electrical Steel
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I. METHODOLOGY
II. EXECUTIVE SUMMARY
III. MARKET ANALYSIS
IV. COMPETITION
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