Europe Electrical Steel Market Size Is Estimated At US$ 6.3 Billion And Is Anticipated To Surpass US$ 16.9 Billion By 2032-End

Posted on 2023-06-22 by Fact.MR in Chemicals // 0 Comments

Rockville, US, 2023-Jun-22 — /EPR Network/ —

European sales of electrical steel are estimated at around US$ 6.3 billion in 2022. The Europe electrical steel market is projected to register an impressive CAGR of 10.3% during 2022-2032 and generate US$ 10.6 billion in absolute dollar opportunity over the assessment period.

Fact.MR, in its latest business intelligence study, depicts the nuts and bolts of the global Europe Electrical Steel market. The report presents detailed information regarding the drivers, restraints, opportunities and trends affecting market growth.

Each segment along with its sub-segment is analyzed in terms of value and volume. Further, the report elaborates the market behavior of each vendor operating in the Europe Electrical Steel market.

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Key findings of the Europe Electrical Steel market study:

Regional breakdown of the Europe Electrical Steel market based on predefined taxonomy.
Innovative manufacturing processes implemented by Europe Electrical Steel vendors in detail.
Region-wise and country-wise fragmentation of the Europe Electrical Steel market to grasp the revenue, and growth outlook in these areas.
Changing preferences among consumers across various regions and countries.
Factors (Positive and Negative) impacting the growth of the global Europe Electrical Steel market.

Key Companies Profiled

Novolipetsk Steel (NMLK)
ArcelorMittal
Cogent Power Limited
Phoenix Mecano AG
Thyssenkrupp AG
Voestalpine Camtec GmbH
Aperam S.A.
SMS Group GmbH
Acciaieria Arvedi
Acronic International GmbH
Erdemir Romania S.R.L.
Severstal

Competitive Landscape

Focus on geographical and capacity expansion along with investing resources in intensifying manufacturing capacities to augment production are the key strategies of European manufacturers of electrical steel.

In addition to this, they are also investing in developing innovative products to be used for several applications and fulfil the varied demands of clients.

For instance :

ArcelorMittal acquired John Lawrie Metals Ltd. in 2022. The company is a Scottish steel recycling business, and its acquisition will allow ArcelorMittal to enhance the use of scrap steel to reduce CO2 emissions from steelmaking.
In 2021, Novolipetsk Steel (NMLK) announced the building of a grain-oriented steel plant in the state of Maharashtra in India. The installation of metal structures has already been commenced and the plant will produce 64,000 MT of grain-oriented steel annually.

Fact.MR has provided detailed information about the price points of key manufacturers of electrical steel positioned across Europe, sales growth, production capacity, and speculative technological expansion, in the recently published report.

Key Segments of Europe Electrical Steel Industry Survey

by Product Type :
- Grain-Oriented Electrical Steel
- Non-Grain-Oriented Electrical Steel
  - Fully-Processed
  - Semi-Processed
by Application :
- Inductors
- Transformers
  - Transmission
  - Portable
  - Distribution
- Motors
  - 1hp – 100hp
  - 101hp – 200hp
  - 201hp – 500hp
  - 501hp – 1000hp
  - Above 1000hp
by End-use Industry :
- Automotive
- Manufacturing
- Energy
- Household Appliances
- Others (Construction, Fabrication)
by Country :
- Germany
- Italy
- France
- Spain
- U.K.
- Russia
- BENELUX
- Rest of Europe

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Queries addressed in the Europe Electrical Steel market report:

Why are the Europe Electrical Steel market players targeting region for increased product sales?
What patented technologies are the players utilizing in the global Europe Electrical Steel market?
Which regions are displaying the fastest growth in the Europe Electrical Steel market?
What are the underlying micro- macroeconomic factors affecting the global Europe Electrical Steel market?

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