The credible Middle East and Africa Electrical Steel Market research report gives detailed synopsis on the study of CHEMICAL AND MATERIALS industry and its impact on the market environment. This market document provides statistics on the current state of the industry as a helpful source of assistance and direction for companies and investors interested in this market. The business report explains current and future market trends and carries out analysis of the impact of buyers, substitutes, new entrants, competitors, and suppliers on the market. In addition, the worldwide CHEMICAL AND MATERIALS report also gives a view about key players, major collaborations, merger, acquisitions along with trending innovation and business policies.
Given the increasing demand for energy and power in the industry sector for production and operations in the area, the energy and power segment led the electrical steel market in 2022. Given the increased construction activity in the region, which has increased demand for high-density electrical steel, the above 1.76 tesla category will dominate the electrical steel market in 2022.
The global electrical steel market was valued at USD 1,539.73 million in 2022 and is expected to reach USD 2,705.47 million by 2030, registering a CAGR of 7.30% during the forecast period of 2023-2030.
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Market Overview
Electrical steel is an iron alloy with various levels of silicon. It is also known as lamination steel, silicon steel, transformer steel, and relay steel, depending on its composition and application. Its extraordinary magnetic characteristics make it indispensable in spinning and static machinery. Electricity is used in the production of electrical steel to melt scrap steel or iron ore in an electric arc furnace. This technology is substantially cleaner than traditional steelmaking technologies, which use carbon-rich blast furnaces that emit large volumes of CO2. Electric arc furnaces are not only better for the environment, but they are also more efficient, requiring up to 30% less energy than blast furnaces.
Some of the major players operating in the electrical steel market are:
ArcelorMittal (Luxembourg)
POSCO (South Korea)
Voestalpine AG (Austria)
Baosteel Group (China)
NIPPON STEEL CORPORATION (Japan)
United States Steel Corporation (U.S.)
SAIL (India)
TATA Steel (India)
Thyssenkrupp AG (Germany)
JFE Steel Corporation (Japan)
The electrical steel market is analyzed and market size insights and trends are provided by product type, applications, thickness, core losses, flux density and end user as referenced above.
The countries covered in the electrical steel market report are UAE, Saudi Arabia, Egypt, Israel, South Africa, Rest of Middle East and Africa.
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Table of Content
Chapter 1: Market overview
Chapter 2: Middle East and Africa Electrical Steel Market
Chapter 3: Regional analysis of the Global Middle East and Africa Electrical Steel Market industry
Chapter 4: Middle East and Africa Electrical Steel Market segmentation based on types and applications
Chapter 5: Revenue analysis based on types and applications
Chapter 6: Market share
Chapter 7: Competitive Landscape
Chapter 8: Drivers, Restraints, Challenges, and Opportunities
Chapter 9: Gross Margin and Price Analysis
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