US Transformer Steel Market, 2024-2030

Transformer steel is otherwise known as lamination steel, silicon electrical steel, silicon steel or electrical steel.It is produced so as to exhibits both magnetizing and demagnetizing characters. It should be able to produce small hysteresis area (small energy dissipation per cycle, or low core loss) and high permeability.

The United States transformer steel market research report sheds light on the market circumstances by carrying out primary and secondary research for more than 320 hours. As per the report, the US transformer steel market is growing at a fast pace and increasing its geographical footprint rapidly. The US transformer steel market is valued at US $ xxx million dollars in 2018 which is forecast to grow at CAGR of xx% and reach a massive US $ xxx million dollars by the end of 2023 in value.

While the steel industry is witnessing an oversupply of low-cost steel, growing demand for electrical steel has led manufacturers to ramp up their production capacities. The electrical steels demand is increasing for the auto industry where hybrid electrical vehicles which consume a lot of non-grain oriented electrical steel. Transformer steels are getting inducted by the suppliers encouraged by US government policies for electrification of the vehicle for emission regulation. Moreover, to satisfy the power generation scarcity which arises due to heavy industrialization and increasing population, the grained electrical steel demand is also increasing. Besides, increasing spending ability of the consumers, rising disposable income in US citizens, and advancement in technology is additionally foreseen to propel the growth of electrical steel market in the coming years.

Thought transformer steel is having a lot of attracting feature which makes it suitable for the function this market is getting affected due to the alternate material such as Nickel iron composites. Moreover, fluctuations in the prices of raw materials have been hindering the growth of electrical steel market during the forecast period. Besides macroeconomic factors, drawbacks of electrical steel continue to create challenges for both manufacturers and end-users in the transformer steel market.

The US transformer steel has remarkable usage across all major regions in the US including west, southwest, northeast, southeast, and mid. These regions serve large number of manufacturers and are hence responsible for the growth of transformer steel market. The leading manufacturers in the US transformer steel market are United States Steel Corporation, MITSUI & Co., Arnold Magnetic Technologies Corp.,and so on.

Research Methodology

The research procedure begins with the bifurcation of various market segments of the US transformer steel market, followed by detection of factors affecting the growth each segment. Then, the market forecasts were built based on the inputs given by the business leaders across transformer steel industry value chain. Market Krystal held more than 30 interviews for this study, details of which are mentioned:

By company type:

Manufacturers (40%), Suppliers (20%), Consumers (20%), Researchers (10%), Independent industry consultant (10%)

By designation:

Top level (40%), Operation level (20%), Mid-level (40%)

Contents of the report:

• Insights on the US transformer steel industry dynamics
• Estimation of the present US transformer steelmarket size in terms of value and volume
• The US transformer steel market breakup based on type and application
• Substantiated the US transformer steelmarket forecast for the next five years.
• In depth analysis of the leading companies working across different nodes of the US transformer steelindustry value chain