Middle East & Africa Electrical Steel Market Size & Outlook
Middle East & Africa electrical steel market, 2018-2030 (US$M)
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MEA electrical steel market highlights
- The MEA electrical steel market generated a revenue of USD 1,173.0 million in 2023.
- The market is expected to grow at a CAGR of 6% 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.
- Country-wise, Iran is expected to register the highest CAGR from 2024 to 2030.
MEA data book summary
| Market revenue in 2023 | USD 1,173.0 million |
| Market revenue in 2030 | USD 1,766.7 million |
| Growth rate | 6% (CAGR from 2023 to 2030) |
| Largest segment | Non-grain oriented |
| Fastest growing segment | Grain Oriented |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 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, MEA region accounted for 4.1% of the global electrical steel market in 2023.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- MEA is the fastest growing regional market and is projected to reach USD 1,766.7 million by 2030.
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Electrical Steel Market Scope
Electrical Steel Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Middle East & Africa 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 76.81% in 2023. Horizon Databook has segmented the Middle East & Africa electrical steel market based on grain oriented, non-grain oriented covering the revenue growth of each sub-segment from 2018 to 2030.
Countries in Middle East & Africa are developing at a faster pace owing to growth in industrialization and urbanization. The UAE plans to increase the contribution of the manufacturing sector and amid the outbreak reduce the dependency on imports by diversifying the investments.
These factors are accelerating the use of motors, generators, and transformers in industries which is projected to bolster the electrical steel market during the projected period.
The increasing expansion of grid owing to growth in renewable power generation is evolving the need for using advanced and efficient transformers in the line.
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Our clientele includes a mix of electrical steel market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Middle East & Africa electrical steel market , including forecasts for subscribers. This continent databook contains high-level insights into Middle East & Africa electrical steel market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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MEA electrical steel market size, by country, 2018-2030 (US$M)
Middle East & Africa Electrical Steel Market Outlook Share, 2023 & 2030 (US$M)
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