Global electrical steel market size 2018-2025

In 2018, the global electrical steel market was sized at roughly 14.2 billion U.S. dollars. According to recent projections, the market size of steel for electrical equipment applications was expected to reach 22.5 billion U.S. dollars by 2025. Electrical steel is widely used in transformers, motors, and other electromagnetic devices, mainly for applications in the the automotive and electricity distribution sectors.

Electrical steel market size worldwide between 2018 and 2025

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Sources

Release date

February 2019

Region

Worldwide

Survey time period

2018

Supplementary notes

This Statista estimate is based on the 2025 values and the compound annual growth rate from 2019 to 2025 of 7 percent, which were provided by the source. An exponential development of the market was assumed.

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