
17 Ene United States Electrical Steel Market Size, Trends, Sales Analysis, Growth and Industry Report by 2032
United States Electrical Steel Market Overview
Base Year: 2023
Historical Years: 2018-2023
Forecast Years: 2024-2032
Market Growth Rate: 6.50% (2024-2032)
According to the latest report by IMARC Group, the US electrical steel market size is projected to exhibit a growth rate (CAGR) of 6.50% during 2024-2032. The market is poised for robust growth, underpinned by dynamic shifts in energy systems and technological advancements.
Electrical steel, a specialized material integral to the performance of transformers, motors, and generators, is witnessing heightened demand across various industries. Key drivers include the increasing focus on improving power transmission and distribution efficiency and the transition toward renewable energy sources. These trends align with global sustainability goals, further boosting the adoption of electrical steel in critical infrastructure projects and everyday applications.
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United States Electrical Steel Industry Trends and Drivers:
The rise of renewable energy technologies, including wind and solar power, has catalyzed the demand for electrical steel in energy-efficient transformers and advanced generators. As energy grids evolve to accommodate decentralized and renewable power sources, the material’s unique properties—such as reduced energy loss and enhanced magnetic performance—make it a cornerstone in modern energy systems. Additionally, the electrification of transportation, particularly in the automotive industry, has expanded the use of electrical steel in electric vehicles (EVs) and hybrid systems. This trend is supported by a surge in consumer interest in EVs and stringent government regulations promoting sustainable mobility solutions.
Moreover, rapid advancements in material science and manufacturing processes are reshaping the electrical steel landscape. Innovations such as grain-oriented electrical steel (GOES) and non-grain-oriented electrical steel (NGOES) are optimizing performance across diverse applications. GOES, renowned for its efficiency in high-performance transformers, and NGOES, widely used in rotating machinery like motors, are becoming increasingly prevalent due to their tailored properties and cost-effectiveness. Industries such as household appliances, building and construction, and power generation are leveraging these advancements to drive efficiency and sustainability. As a result, the U.S. electrical steel market is set to experience a transformative period, aligning with broader industrial and environmental objectives.
United States Electrical Steel Industry Segmentation:
The report has segmented the market into the following categories:
Type Insights:
- Grain Oriented Electrical Steel
- Non-Grain Oriented Electrical Steel
Application Insights:
- Transformers
- Motors
- Generators
- Others
End Use Industry Insights:
- Energy and Power
- Automobiles
- Household Appliances
- Building and Construction
- Others
Regional Insights:
- Northeast
- Midwest
- South
- West
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
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Key highlights of the Report:
- Market Performance (2018-2023)
- Market Outlook (2024-2032)
- COVID-19 Impact on the Market
- Porter’s Five Forces Analysis
- Strategic Recommendations
- Historical, Current and Future Market Trends
- Market Drivers and Success Factors
- SWOT Analysis
- Structure of the Market
- Value Chain Analysis
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
About Us:
IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.
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