Market Reports

Unlock 30% off global market reports with code ONLINE30 – get insights on tariff changes, macro trends, and global economic shifts What is the forecasted revenue size of the electrical steel industry by 2029? The electrical steel market size has grown strongly in recent years. It will grow from $35.72 billion in 2024 to $37.75 billion in 2025 at a compound annual growth rate (CAGR) of 5.7%. The growth in the historic period can be attributed to strong economic growth in emerging markets, growth in world population, government incentives to end-user industries, rise in power consumption, and increasing use of household appliances. The electrical steel market size is expected to see strong growth in the next few years. It will grow to $50.28 billion in 2029 at a compound annual growth rate (CAGR) of 7.4%. The growth in the forecast period can be attributed to global population growth and urbanization, rising investment in renewable power generation, and increasing demand for electri...