GOES market to thrive dramatically according to new report
Future Market Insights has made available a new market research report titled “Electrical Steel Market: Rising demand for High Permeability Grain-oriented Electrical Steel to Fuel Growth: Global Industry Analysis and Opportunity Assessment, 2016-2026”.
According to the report, Extensive use of electrical steel in the core manufacturing of transformers, motors and inductors is expected to primarily drive the demand for electrical steel in 2016.
The grain-oriented electrical steel segment is expected to thrive dramatically at the fastest CAGR of 7.5% in terms of value in 2016, owing to increasing demand for grain oriented electrical steel from energy and power generation industries.
North America, Europe, and Japan are strong markets, contributing major revenue shares to the global electrical steel market. Asia Pacific is the most attractive region and forms a key market in the global electrical steel industry.
The key players in the global electrical steel market include Novolipetsk Steel, voestalpine Stahl GmbH, POSCO, Nippon Steel & Sumitomo Metal Corporation, Thyssenkrupp AG, JFE Steel Corporation, ArcelorMittal, Cogent Power Limited, Baosteel Group, AK Steel Corporation, ATI, Schneider Electric, ABB, Emirates Transformer & Switchgear Limited, Crompton Greaves, etc.
Source: Future Market Insights