Electrical Steel Market by Type, Application, End-Use Industry and Region - Global Forecast to 2025
iCrowd Newswire
According to the new market research report Electrical Steel Market By Application (Transformers, Motors, Inductors), Type (Grain Oriented, Non Grain Oriented) End-Use Industry (Energy, Automotive, Manufacturing, Household Appliances), And Region (NA, EU, APAC, MEA, SA) - Global Forecast To 2025″, The electrical steel market size is estimated to be USD 31.5 billion in 2020 and projected to reach USD 45.9 billion by 2025, at a CAGR of 7.9% from 2020 to 2025. Increasing investment, coupled with growth in energy industry across the globa is expected to drive the growth of electrical steel market. However, the recent outbreak of Covid-19 is expected to have a severe impact on the electrical steel market.