United States Electric Steel Market was valued at USD 8.5 Billion in 2022 and is projected to reach USD 12.3 Billion by 2030, growing at a CAGR of 4.7% from 2024 to 2030.
The US Electric Steel Market is poised for substantial growth as industries demand more sustainable, high-performance materials for various applications. Electric steel, or electric arc furnace (EAF) steel, is produced through a process that uses an electric arc to melt scrap steel, offering significant advantages over traditional blast furnace methods. As industries across sectors, including automotive, construction, and manufacturing, embrace greener technologies, the need for electric steel has surged due to its eco-friendly production process and superior qualities.
The growing demand for electric vehicles (EVs) is one of the major drivers behind the electric steel market. Automotive manufacturers require high-strength, lightweight materials to meet performance and safety standards. Electric steel's ability to be tailored for specific applications, such as creating parts with superior corrosion resistance or those that can withstand extreme temperatures, makes it ideal for automotive use. Furthermore, the trend toward reducing carbon footprints in vehicle manufacturing has led to an increase in the use of electric steel, as its production emits fewer pollutants compared to conventional methods.
In the construction industry, electric steel is valued for its strength and durability. It is frequently used in building infrastructure, including bridges, high-rise buildings, and pipelines. Its ability to endure harsh environmental conditions, along with its resistance to corrosion, makes it a preferred choice for structural elements that require long-term reliability and reduced maintenance costs.
Additionally, electric steel plays a significant role in the manufacturing of electrical components. The demand for transformers, electric motors, and other energy-efficient machinery has led to increased consumption of electric steel due to its high magnetic properties. As industries move toward automation and renewable energy solutions, the need for materials that support advanced electrical systems continues to rise.
Across all sectors, the shift toward more sustainable and high-performance materials is expected to drive continuous demand for electric steel, solidifying its role as a key material in the US economy. Manufacturers and industries will continue to innovate, creating new products that depend on the unique properties of electric steel to meet evolving consumer and regulatory demands.
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Baowu
ArcelorMittal
JFE Steel
Shougang
TISCO
NSSMC
NLMK Group
AK Steel
ThyssenKrupp
Ansteel
Masteel
Posco
Cogent(Tata Steel)
Voestalpine
Benxi Steel
APERAM
Nucor
ATI
Stalprodukt S.A.
CSC
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the US Electric Steel Market
Electrical Steel
Non-Oriented Electrical Steel
Grain-Oriented Electrical Steel
Transformers
Motors
Generators
Inductors
Other Electrical Equipment
Power Generation
Automotive
Consumer Electronics
Industrial Machinery
Renewable Energy
Unidirectional
Multidirectional
Non-Coated
Coated
US (United States, US and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the US Electric Steel Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. US Electric Steel Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. US Electric Steel Market, By Type
6. US Electric Steel Market, By Application
7. US Electric Steel Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. US Electric Steel Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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