What Are the Key Factors of Electrical Steel market To Growing Rapidly in Global industry?

The report [196 pages] "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", The electrical steel market size is estimated to grow from USD 27.84 Billion in 2016 to USD 38.98 Billion by 2021, at a compound annual growth rate (CAGR) of 7.0% from 2016 to 2021.

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Premium Insights of the report:

    4.1 Developing Economies to Witness Higher Demand for Electrical Steel

    4.2 Electrical Steel Market, By Type

    4.3 Electrical Steel Market, By Application

    4.4 Electrical Steel Market, By End-Use Industry

    4.5 Asia Pacific: Electrical Steel Market

    4.6 Electrical Steel Market: Regional Snapshot

Drivers & Opportunities in the global industry:

• Increasing Urban Population Proliferate the Demand for Electrical Steel
• High Consumption Rate of Electrical Steel in Transformers and Motors
• Upcoming Regulations and Government Support

The Asia-Pacific is the most widely populated region in the world, and subsequently witnesses a high demand for the consumption of electricity. The transmission & distribution infrastructure in the region is in the initial stage of grid restructuring. China contributes a major market share in the Asia-pacific electrical steel market. Growing industrial activity has resulted in high demand for electrical steel supported by the country's aggressive policies to fund and drive the domestic demand, thus boosting their growth. The market for electrical steel in this region is growing at a rapid pace, which is primarily due to the growing manufacturing sector

Top key players in the Electrical Steel Market includes 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).

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