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Newstrail
Newstrail
According to the latest report by IMARC Group, titled “Electrical Steel Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026.’the global electrical steel market reached a value of US$ XX Billion in 2020. Electrical steel is a ferromagnetic metal with high electrical conductivity and permeability and low magnetostriction. It is used in the cores of electromagnetic devices, such as motors, generators, and transformers, on account of its ability to magnify the magnetic effects of current-carrying coils. It is also employed in the manufacturing of rotating machin…