Electrical steel market to grow at 7% CAGR by 2021

MarketsandMarkets has made available a new study on the global electrical steel market titled ”Electrical Steel Market by Type (Grain-oriented and Non Grain-oriented), Application (Transformers, Motors, Inductors), End-Use Industry (Energy, Automobile, Manufacturing, Household Appliances), and Region – Global Forecast to 2021”.

According to the report, the electrical steel market size is estimated to grow from $27.84 billion in 2016 to $38.98 billion by 2021, at a CAGR of 7.0%.

The base year considered for the study is 2015 and the market size is projected from 2016 to 2021.

The study analyses opportunities in the market for stakeholders and details the competitive landscape for market leaders.

The key players in the global electrical steel market profiled in the report include ArcelorMittal (Luxembourg), POSCO (South Korea), Voestalpine Group (Austria), Baosteel (China), Nippon Steel & Sumitomo Metal Corporation (Japan), United States Steel Corporation (U.S.), Steel Authority of India Limited. (India), Tata Steel (India), JFE Steel Corporation (India), and Essar Steel (India).

Source: MarketsandMarkets