How is e-mobility triggering electrical steel industry dynamics?

Rapid urbanization and industrial development have considerably strengthened the electrical steel market, with advancements in production methods and new, innovative applications boosting the product demand. Consistent rise in construction activities and consumption of household appliances worldwide has increased the need for power generation and supply, requiring efficient material to be used in energy storage and transmission systems. The global electrical steel industry has seen augmented use in the production of transformer cores and electric motors, in which electrical energy has to be efficiently converted and distributed.

electrical steel market