Electrical Steel Market Expected to Reach USD 69.4 Billion by 2034,...

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2026-11-05 07:50:41 -

Electrical Steel Market Expected to Reach USD 69.4 Billion by 2034, with POSCO, Nippon Steel and ArcelorMittal in Focus

The global electrical steel market is projected to increase from USD 30.7 billion in 2024 to USD 69.4 billion by 2034, expanding at a compound annual growth rate (CAGR) of 8.5% during the forecast period. The market is estimated at USD 36.1 billion in 2026. Rising electricity consumption, expansion of power infrastructure, and growing electric vehicle production are supporting demand for...

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