The Asia Pacific electric steel market is estimated to reach a CAGR of 1.94% over the projected period of 2019-2028. The growing sales of consumer appliances are supplementing the market growth in the region.
The Asia Pacific electric steel market is divided for further study in the following countries, including India, South Korea, Vietnam, Indonesia, South Korea, Australia & New Zealand, Japan, Thailand, and the rest of Asia Pacific that includes Sri Lanka, Bangladesh, Myanmar, and others. Indonesia’s power and distribution market is expected to garner considerable revenue by 2025. The market was predicted to witness growth due to government initiatives, such as the 35GW program during 2018 and 2019, and the electricity demand forecast as per RUPTL 2018-2027. Thailand will witness a rise in energy demand by about 80% in the next 20 years, propelled by population growth and continued economic growth. Moreover, the government is funding to promote grid infrastructure that will aid market growth.
Vietnam is a developing country undergoing rapid modernization and advancements in technology, adopted by local consumers. The Australian market growth is primarily stimulated by government investments to upgrade transmission and distribution networks, together with high deposits of iron ore in the country. The rest of the Asia Pacific market is mainly directed by the increasing sales of consumer electronics and government investment to promote grid infrastructure.
Posco, Steel Authority of India Limited, Nippon Steel, Tata Steel Ltd, Voestalpine AG, etc. are some of the leading companies operating in the market.
Our report offerings include:
- Explore key findings of the overall market
- Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)
- Market forecasts for a minimum of 9 years, along with 3 years of historical data for all segments, sub-segments, and regions
- Market Segmentation cater to a thorough assessment of key segments with their market estimations
- Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share
- Key analytics: Porter’s Five Forces Analysis, Vendor Landscape, Opportunity Matrix, Key Buying Criteria, etc.
- Competitive landscape is the theoretical explanation of the key companies based on factors, market share, etc.
- Company profiling: A detailed company overview, product/services offered, SCOT analysis, and recent strategic developments