The content of this report will be updated with the latest scenarios based on the global COVID-19 Pandemic
The Europe electric steel market is predicted to register a CAGR of 7.24% during the forecast period of 2019-2028. Supportive government regulations are favoring market growth in the region.
The Europe electric steel market is further analyzed by segregating the region into Russia, Belgium, France, Germany, Italy, the UK, Poland, and the rest of Europe that includes Austria, Netherlands, and Luxembourg. Russia has a huge power sector comprising of 440 thermal and hydropower plants, and 30 nuclear reactors. Thermal power accounts for 68% of the country’s power generation capacity, while hydropower accounts for 21.5% of the total power capacity. The Russian government owns 52% of UES, which dominated the country’s electricity sector. Belgium’s economy is dynamic, led by the industry and services sector. In order to comply with the EU directive to control and reduce gas emissions, investments are expected in the grid sector in the future, which will support market growth.
In countries like Poland, the urban population increased from 52.1% in 1970 to 60% in 2019, growing at an average rate of 0.29% annually. Hence, local government and developers are working out strategies towards power expansion to meet increased housing demand, which will augment the market of transformers and power generators for electricity storage and transmission. The rest of the Europe market is directed by the increasing adoption of electric vehicles in the Netherlands. The escalating demand for electric vehicles has resulted in the manufacturers adopting electric vehicles made of electric steel as they are less expensive and have high-flux density. Iron ore is used as raw material for the manufacturing and production of electric steel, and hence, the high amount of iron ore deposits is creating huge growth and development opportunities for electric steel.
Some of the eminent companies operating in the region are ArcelorMittal, Nippon Steel, ThyssenKrupp AG, Big River Steel, Voestalpine AG, etc.
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