The Electrical Steel Market was valued at USD 33.4 Billion in 2023 and is expected to grow at a strong CAGR of around 6.4% during the forecast period (2024-2032) Energy Efficiency Demand: Demand for high grade electrical steel in transformers and motors is increased by increasing global focus on reducing energy losses. Electric Vehicle (EV) Growth: The electric motor requires non grain oriented...

The Electrical Steel Market was valued at USD 33.4 Billion in 2023 and is expected to grow at a strong CAGR of around 6.4% during the forecast period (2024-2032) Energy Efficiency Demand: Demand for high grade electrical steel in transformers and motors is increased by increasing global focus on reducing energy losses. Electric Vehicle (EV) Growth: The electric motor requires non grain oriented...