Germany Electrical Steel Market Size & Outlook, 2023-2030
Germany electrical steel market, 2018-2030 (US$M)
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Germany electrical steel market highlights
- The Germany electrical steel market generated a revenue of USD 576.8 million in 2023 and is expected to reach USD 798.1 million by 2030.
- The Germany market is expected to grow at a CAGR of 4.7% from 2024 to 2030.
- In terms of segment, non-grain oriented was the largest revenue generating product in 2023.
- Grain Oriented is the most lucrative product segment registering the fastest growth during the forecast period.
Electrical steel market data book summary
| Market revenue in 2023 | USD 576.8 million |
| Market revenue in 2030 | USD 798.1 million |
| Growth rate | 4.7% (CAGR from 2023 to 2030) |
| Largest segment | Non-grain oriented |
| Fastest growing segment | Grain Oriented |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Grain Oriented, Non-Grain Oriented |
| Key market players worldwide | ArcelorMittal SA Depository Receipt, Cleveland-Cliffs Inc, JFE Holdings Inc, Nippon Steel Corp, POSCO Holdings Inc ADR, Tata Steel Ltd GDR - 144A, Thyssenkrupp AG |
Other key industry trends
- In terms of revenue, Germany accounted for 2.0% of the global electrical steel market in 2023.
- Country-wise, China is expected to lead the global market in terms of revenue in 2030.
- In Europe, Russia electrical steel market is projected to lead the regional market in terms of revenue in 2030.
- Turkey is the fastest growing regional market in Europe and is projected to reach USD 934.1 million by 2030.
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Electrical Steel Market Scope
Electrical Steel Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Germany electrical steel market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to electrical steel market will help companies and investors design strategic landscapes.
Non-grain oriented was the largest segment with a revenue share of 63.12% in 2023. Horizon Databook has segmented the Germany electrical steel market based on grain oriented, non-grain oriented covering the revenue growth of each sub-segment from 2018 to 2030.
Germany holds substantial renewable generating capacity which augments the use of transformers in the line. For instance, as per the federal statistical office, renewable energy held 47% of the power generation mix in 2020 which surged from 42.3% in 2019.
Thus, the growing demand for renewable power escalates the use of transformers for transmitting the power which in turn drives the use of electrical steel. Germany holds strong potential for passenger vehicles which makes it a leading producer in Europe.
The German government had pumped USD 4.86 billion into the automotive industry owing to the pandemic which help escalate production propelling the use of electrical steel. In addition, Ford, an American multinational automaker.
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Our clientele includes a mix of electrical steel market companies, investment firms, advisory firms & academic institutions.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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Horizon Databook provides a detailed overview of country-level data and insights on the Germany electrical steel market , including forecasts for subscribers. This country databook contains high-level insights into Germany electrical steel market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Germany electrical steel market size, by product, 2018-2030 (US$M)
Germany Electrical Steel Market Outlook Share, 2023 & 2030 (US$M)
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