Tuesday, July 10, 2018 06:32 AM

GLOBAL ELECTRICAL STEEL MARKET TO REACH NEARLY 24 MILLION TONS BY 2026; EXPANSION IN AUTOMOTIVE INDUSTRY TO PLAY ... - PR NEWSWIRE (PRESS RELEASE)

ALBANY, New York, July 10, 2018 /PRNewswire/ --

The global electrical steel market[1]was valued at more than US$ 20 Bn in 2017 and is anticipated to reach approximately US$ 35 Bn at a CAGR of above 6% from 2018 to 2026 according to a new report titled'Electrical Steel Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018-2026' by Transparency Market Research (TMR). The global automotive industry is highly dependent on electrical steel based products such as motor, rotor, stator, and inductor. The automotive end-user industry segment held major share of the global electrical steel market in terms of consumption in 2017. Increase in demand for electric and hybrid cars is anticipated to boost the demand for electrical steel in the next few years.

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Request a Sample of Electrical Steel Market: https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=38777[3]

Increase in demand for super or high speed cars to propel demand for electrical steel

Increase in demand for electrical steel for applications in supercars or high-speed cars is primarily driven by various advantageous ...

News source: GOOGLE NEWS

See also: Lyle Industries