Mexico Electrical Steel Market Size & Outlook, 2023-2030
Mexico electrical steel market, 2018-2030 (US$M)
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Mexico electrical steel market highlights
- The Mexico electrical steel market generated a revenue of USD 647.1 million in 2023 and is expected to reach USD 974.1 million by 2030.
- The Mexico 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.
Electrical steel market data book summary
| Market revenue in 2023 | USD 647.1 million |
| Market revenue in 2030 | USD 974.1 million |
| Growth rate | 6% (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, Mexico accounted for 2.3% 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 North America, U.S. electrical steel market is projected to lead the regional market in terms of revenue in 2030.
- Mexico is the fastest growing regional market in North America and is projected to reach USD 974.1 million by 2030.
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Electrical Steel Market Scope
Electrical Steel Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Mexico 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 74.38% in 2023. Horizon Databook has segmented the Mexico electrical steel market based on grain oriented, non-grain oriented covering the revenue growth of each sub-segment from 2018 to 2030.
Mexico is facing inadequate infrastructure for transmission and distribution networks which has led to limited access to electricity in certain parts of the country. Thus, growing investment in increasing and upgrading the power generation capacity is trending the demand for transformers which is anticipated to boost the usage of electrical steel.
The projects under the pipeline for upgrading the network are Mexico–Clark 69 transmission line in Pampanga .As per the Commission of Economic Studies of the Confederation of Industrial Chambers (CONCAMIN) manufacturing.
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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 country-level data and insights on the Mexico electrical steel market , including forecasts for subscribers. This country databook contains high-level insights into Mexico electrical steel market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Mexico electrical steel market size, by product, 2018-2030 (US$M)
Mexico Electrical Steel Market Outlook Share, 2023 & 2030 (US$M)
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