Cold Rolled Electrical Steel Market size is estimated to be USD 30 Billion in 2024 and is expected to reach USD 45 Billion by 2033 at a CAGR of 5.5% from 2026 to 2033.
The global Cold Rolled Electrical Steel market was valued at approximately USD 32.5 billion in 2022 and is projected to grow at a compound annual growth rate (CAGR) of 6.2% from 2023 to 2030. This growth is attributed to the increasing demand for energy efficient electrical devices, particularly electric motors and transformers, which use high quality electrical steel. North America and Europe hold significant market shares due to their advanced infrastructure and rapid adoption of renewable energy technologies. The market size in North America was around USD 8.5 billion in 2022, while Europe accounted for about USD 7.2 billion in the same year. Asia Pacific is expected to witness the highest growth, with a market size of USD 12.8 billion in 2022 and an estimated CAGR of 7.1%, driven by expanding industrial sectors and rising energy consumption in countries like China and India.
The regional dynamics of the Cold Rolled Electrical Steel market show notable variation in growth trends, with Asia Pacific leading due to rapid industrialization, especially in the automotive and electrical industries. The demand for Cold Rolled Electrical Steel is expected to surge in Latin America and the Middle East, which are witnessing significant investments in infrastructure and industrialization. In 2022, the Latin American market was valued at USD 1.9 billion, while the Middle East market was approximately USD 1.5 billion. The growing trend of electrification and renewable energy projects in these regions presents a strong opportunity for market expansion. The increased adoption of electric vehicles and smart grids will further stimulate market growth across these areas in the coming years.
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Baowu
NSSMC
Shougang
TISCO
Posco
JFE Steel
Ansteel
NLMK Group
Masteel
AK Steel
ThyssenKrupp
Cogent (Tata Steel)
CSC
Stalprodukt S.A.
APERAM
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. 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 Global Cold Rolled Electrical Steel Market
Grain-Oriented Electrical Steel (GOES)
Non-Grain-Oriented Electrical Steel (NGOES)
Power Generation
Transformers
Motors
Electronics
Automotive
Electric Motors
Transformers
Generators
Magnetic Cores
Less than 0.2 mm
0.2 mm to 0.3 mm
Above 0.3 mm
Uncoated
Coated (Electrogalvanized, Hot-dip Galvanized, etc.)
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 Global Cold Rolled Electrical 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. Global Cold Rolled Electrical Steel Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Cold Rolled Electrical Steel Market, By Type
6. Global Cold Rolled Electrical Steel Market, By Application
7. Global Cold Rolled Electrical Steel Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. Global Cold Rolled Electrical Steel Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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