Research Methodology – Electrical Steel Market
At Straits Research, we adopt a rigorous 360° research approach that integrates both primary and secondary research methodologies. This ensures accuracy, reliability, and actionable insights for stakeholders. Our methodology for the Electrical Steel Market comprises the following key stages:
Market Indicator & Macro-Factor Analysis
Our baseline thesis for the Electrical Steel Market is developed by integrating key market indicators and macroeconomic variables. These include:
Factors considered while calculating market size and share
- Demand and supply of electrical steel in different regions
- Production and consumption rates of electrical steel
- Number of key players in the market and their market share
- Volume and value of electrical steel sales
- Changes in market prices
- Import and export statistics of electrical steel
- Market revenues generated by the sales of electrical steel
- Future predictions of the market needed for trending and forecasting
Key Market Indicators
- Gross Domestic Product (GDP) growth rate
- Population growth rate
- Industrial growth rate
- Trends in the automobile industry
- Inflation rate
- Interest rates
- Unemployment rates
- Energy consumption rates
- Developments in the renewable energy sector
- Technological advancements
Growth Trends
- Growth in the demand for efficient and low core loss materials
- Increasing use of electrical steel in electric vehicles
- Growth in renewable energy infrastructure, leading to increased demand for transformers that use electrical steel
- Increasing urbanization and industrialization rates, causing a surge in the consumption of electricity
- Increased energy efficient concerns and regulations, driving the demand for electrical steel
- Technological advancements and increasing R&D in the field of electrical steel
Secondary Research
Our secondary research forms the foundation of market understanding and scope definition. We collect and analyze information from multiple reliable sources to map the overall ecosystem of the Electrical Steel Market. Key inputs include:
- Annual reports, investor presentations, SEC filings
- Company press releases and product launch announcements
- Public executive interviews and earnings calls
- Strategy briefings and M&A updates
- Country-level industry associations and trade bodies
- Government dossiers, policy frameworks, and official releases
- Whitepapers, working papers, and public R&D initiatives
- Relevant Associations for the Electrical Steel Market
- Broker reports and financial analyst coverage
- Paid databases (Hoovers, Factiva, Refinitiv, Reuters, Statista, etc.)
- Import/export trade data and tariff databases
- Sector-specific journals, magazines, and news portals
- Global macroeconomic indicators and their cascading effect on the industry
- Demand–supply outlook and value chain analysis
- Consumer behaviour, adoption rates, and commercialization trends
Primary Research
To validate and enrich our secondary findings, we conduct extensive primary research with industry stakeholders across the value chain. This ensures we capture both qualitative insights and quantitative validation. Our primary research includes:
- Key Opinion Leader (KOL) Engagements
- Structured interviews with executives, product managers, and domain experts
- Paid and barter-based interviews across manufacturers, distributors, and end-users
- Discussions with stakeholders to validate demand-supply gaps
- Group discussions on emerging technologies, regulatory shifts, and adoption barriers
- Cross-verification of market sizing and forecasts with industry insiders
- Capturing business perspectives on growth opportunities and restraints
Data Triangulation & Forecasting
The final step of our research involves data triangulation ensuring accuracy through cross-verification of:
- Demand-side analysis (consumption patterns, adoption trends, customer spending)
- Supply-side analysis (production, capacity, distribution, and market availability)
- Macroeconomic & microeconomic impact factors
- Time-series analysis
- Regression and correlation studies
- Baseline modeling
- Expert validation at each stage
Outcome
The outcome is a comprehensive and validated market model that captures:
- Market sizing (historical, current, forecast)
- Growth drivers and restraints
- Opportunity mapping and investment hotspots
- Competitive positioning and strategic insights
Available for purchase with detailed segment data, forecasts, and regional insights.
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