Russia Electrical Steel Market Size & Outlook, 2023-2030
Russia electrical steel market, 2018-2030 (US$M)
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Russia electrical steel market highlights
- The Russia electrical steel market generated a revenue of USD 934.2 million in 2023 and is expected to reach USD 1,321.9 million by 2030.
- The Russia market is expected to grow at a CAGR of 5.1% 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 934.2 million |
| Market revenue in 2030 | USD 1,321.9 million |
| Growth rate | 5.1% (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, Russia accounted for 3.3% 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 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 |
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Russia 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 77.24% in 2023. Horizon Databook has segmented the Russia electrical steel market based on grain oriented, non-grain oriented covering the revenue growth of each sub-segment from 2018 to 2030.
Growing investment in the automotive industry propels the use of electrical steel for making motors. For instance, in October 2020, Haval, Great Wall Motor’s subsidiary signed a contract with the Russian Industry and Trade Ministry worth USD 650 million to expand its car manufacturing plant and supply the major parts.
Thus, growing strategic initiatives among key automakers are expected to fuel the demand for electrical steel for making auto parts over the coming years. Increasing investment in renewable energy unfolds the necessity for erecting the grid for the transmission of power which increases the application of transformers in the line.
Thus, growing investment in renewable energy accelerates the usage of electrical steel for manufacturing transformers.
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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 Russia electrical steel market , including forecasts for subscribers. This country databook contains high-level insights into Russia electrical steel market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Russia electrical steel market size, by product, 2018-2030 (US$M)
Russia Electrical Steel Market Outlook Share, 2023 & 2030 (US$M)
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