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Electrical Steel Market Share

Report ID: GMI3136
Published Date: Jun 2024
Report Format: PDF

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Electrical Steel Market Share

Electrical Steel Market Company Share, (2023)

Prominent players such as POSCO, Tata Steel, and Arcelor Mittal, play integral roles in driving growth and innovation within the market. ArcelorMittal and Nippon Steel Corporation focus on technological innovation and strategic partnerships to enhance product quality and efficiency. POSCO and Baosteel Group Corporation invest heavily in research and development to develop advanced steel grades, while Voestalpine AG emphasizes sustainable production methods. Tata Steel and JFE Steel Corporation expand their global footprint through acquisitions and joint ventures. ThyssenKrupp and AK Steel, now part of Cleveland-Cliffs Inc., leverage their extensive distribution networks to reach new markets. Aperam focuses on optimizing its production processes and expanding its product portfolio to meet the increasing demand for high-performance electrical steels.

Electrical Steel Market Companies

Major players operating in the electrical steel industry include:

AK Steel (a subsidiary of Cleveland-Cliffs Inc.)
Aperam
ArcelorMittal
Baosteel Group Corporation
JFE Steel Corporation
Nippon Steel Corporation
POSCO
Tata Steel
ThyssenKrupp
Voestalpine AG

Authors: Kiran Pulidindi, Manish Verma

Frequently Asked Questions (FAQ) :

Global industry size for electrical steel was valued at USD 38.18 billion in 2023 and is anticipated to register 6.5% CAGR between 2024 and 2032 due to increasing consumer awareness along with the growing emphasis on sustainability and carbon reduction initiatives.

The non-grain segment in the electrical steel market will grow at 6.4% CAGR through 2032 due to its versatile applications in various electrical devices and ongoing advancements in manufacturing processes.

North America market size is expected to record 6.2% CAGR between 2024 and 2032 due to the renewable energy adoption, infrastructure development, and EV growth.

AK Steel (a subsidiary of Cleveland-Cliffs Inc.), Aperam, ArcelorMittal, Baosteel Group Corporation, JFE Steel Corporation, Nippon Steel Corporation, POSCO, Tata Steel, ThyssenKrupp, and Voestalpine AG.