Electrical Steel Market: Global Industry Analysis and Forecast (2021-2027), Technological Key Trends, Market Share, Market Price, Market Size, Industry Size.

Electrical Steel Market size was valued at US$ 31.50 Bn. in 2020 and the total revenue is expected to grow at a CAGR of 7.9% through 2021 to 2027, reaching nearly US$ 53.64 Bn.

Electrical Steel Market Overview:

An alloy containing iron and silicon is known as electrical steel. Because silicon is added to electrical steel, it is also referred to as laminate steel or silicon steel. Electrical steel is a form of specialty steel created by altering the magnetic properties of standard steel under the impact of permeability. It's used to make the cores of power transformers, generators, and inductors, among other things. Because of technological improvements and electrical steel's great efficiency, the market for electrical steel is gaining traction. Grain-oriented and Non-Grain-oriented are the types of electrical steel. Electrical Steel Market To know about the Research Methodology :- Request Free Sample Report Though market forecasting through 2027 is based on real output, demand and supply of 2020, 2020 numbers are also estimated on real numbers published by key players as well all important players across the world. Market forecasting till 2027 is done based on past data from 2016 to 2019 with the impact of global lock down on the market in 2020 and 2021.

Global Electrical Steel Market Dynamics:

The rising global automobile manufacturing is a key driver of the global electrical steel market's growth. Every year, global vehicle manufacturing rises. The use of electrical steel in automobiles improves fuel efficiency, resulting in increased demand for electrical steel in the automotive industry. During the forecast period, the growing demand for electric and hybrid vehicles is expected to fuel the growth of the electrical steel market. In the global electrical steel market, energy conservation is a growing concept. The demand for transformers is being boosted by rising electricity consumption and the growing need for industrial development, which is fuelling the global electrical steel market. Due to its high magnetic permeability, electrical steel is mostly used in the power industry. The growth of electrical steel in motors is being driven by increasing industrialization and the use of motors in the residential sector. Electrical steel has become a necessary component of electric motors because it produces a greater magnetic flux, which is critical for torque. Additionally, it leads to increased efficiency. Given that the United Nations' sustainable development program calls for the increased industry in the forecast period, vendors in the electrical steel market are expected to gain greatly in terms of income. For the manufacture and processing of steel products, the steel industry is heavily dependent on the supply of raw materials. Iron ore, coal, industrial gases, and ferroalloys are all important raw resources for steel manufacture. Steel production and processing processes can be carried out smoothly if raw materials are fairly priced. Raw material prices, on the other hand, are extremely changeable. An increase in raw material prices has an impact on steel manufacturing costs, resulting in higher pricing for completed steel products such as grain-oriented and non-grain-oriented electrical steel. For example, the trade war between China and the United States, combined with the 2020 Russia–Saudi Arabia oil price war, had a significant impact on oil prices, resulting in steel price volatility. As a result, fluctuating raw material prices function as a serious obstacle to the electrical steel market's growth.

Global Electrical Steel Market Segment Analysis:

The Global Electrical Steel Market is segmented by Type, Application, and End Use Industry. Based on the Type, the market is segmented into Grain-oriented, and Non-Grain-oriented. The grain-oriented segment is expected to hold the largest market shares of xx% by 2027. Its high use in transformers (small, medium, and big) and generators accounts for this rise. The silicon content of grain-oriented electrical steel is normally around 3%. It is made of low carbon steel, and because of the strict control of the crystal orientation relative to the sheet, it is generated in the rolling direction to achieve its best qualities. Large power transformers, distribution transformers, compact transformers, current transformers, shunt reactors, wound cores, and power generators are all examples of grain-oriented electrical steel applications. Electrical Steel Market Based on the Application, the market is segmented into Transformers, Motors, Inductors, and Others. The Transformers segment is expected to grow rapidly at a CAGR of xx% during the forecast period 2021-2027. This segment's rise can be due to rising energy consumption around the world. Transformer cores are a crucial component of the transformer, which is made up of electric steel laminations. Current transformers, power transformers, and distribution transformers are the three basic types of transformers. Companies have been forced to increase their production capacities as the demand for transformers has grown. A new power transformer facility, for example, was commissioned in Kerala, India, in February 2021. The new facility was built with a 12.5 crore investment. The plant's annual output capacity for power transformers up to 25 MVA in the 132kV class is estimated to reach 1,500 MVA. Electrical Steel Market Based on the End-Use Industry, the market is segmented into Energy, Automobiles, Manufacturing, Household Appliances, and Others. The energy end-use industry segment is expected to grow rapidly at a CAGR of xx% during the forecast period 2021-2027. This can be due to the global economic growth, which is intimately connected to the growth of the power sector.

Global Electrical Steel Market Regional Insights:

Asia Pacific dominates the Global Electrical Steel market during the forecast period 2021-2027. Asia Pacific is expected to hold the largest market shares of xx% by 2027. The presence of global steelmakers like ArcelorMittal, Nippon Steel & Sumitomo Metal Corporation, Tata Steel, and POSCO Steel in the region has contributed to this growth. The low-cost labour and raw materials available in the region are further benefits for these businesses. Another factor expected to drive market growth is the fast-growing population and urbanisation. These are the major drivers that boost the growth of this region in the global market during the forecast period 2021-2027. North America is expected to grow rapidly at a CAGR of xx% during the forecast period 2021-2027. The region's growing focus on power generation and electric vehicle production has fuelled demand for electric motors and charging stations, which is fuelling the market growth for electrical steel. For example, Foxconn announced in March 2021 that it would begin manufacturing electric vehicles in North America by 2023. For the next three years, the corporation expects to invest NTD 10 billion in EV-related and other operations. Electrical Steel Market The objective of the report is to present a comprehensive analysis of the Global Electrical Steel Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The reports also help in understanding the Global Electrical Steel Market dynamic, structure by analyzing the market segments and project the Global Electrical Steel Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Global Electrical Steel Market make the report investor’s guide.

Global Electrical Steel Market Scope: Inquire before buying

Electrical Steel Market

Global Electrical Steel Market, by Region

• North America • Europe • Asia Pacific • South America • Middle East and Africa

Global Electrical Steel Market Key Players

Nippon Steel & Sumitomo Metal Corporation (NSSMC) Group • Shandong Iron and Steel Group Co Ltd • JFE Steel Corporation • SAIL (Steel Authority of India Limited) • Shagang Group Inc. • ArcelorMittal • Ansteel Group Corporation • Baosteel Group • POSCO • Voestalpine Group • United States Steel Corporation • Jindal Steel and Power Limited • HBIS Group • Allengency Technologies • Angang Steel Company Limited • China Steel Corporation • Electrosteel Limited • EssarSteel • HebeiPuyang Iron And Steel Group • Jsw Steel • Tata Steel Limited Frequently Asked Questions: 1] What segments are covered in Global Electrical Steel Market report? Ans. The segments covered in Global Electrical Steel Market report are based on Type, Application, and End Use Industry. 2] Which region is expected to hold the highest share in the Global Electrical Steel Market? Ans. Asia Pacific is expected to hold the highest share in the Global Electrical Steel Market. 3] Who are the top key players in the Global Electrical Steel Market? Ans. Shandong Iron and Steel Group Co Ltd, JFE Steel Corporation, SAIL (Steel Authority of India Limited), Shagang Group Inc., and ArcelorMittal are the top key players in the Global Electrical Steel Market. 4] Which segment holds the largest market share in the Global Electrical Steel market by 2027? Ans. Grain-oriented segment holds the largest market share in the Global Electrical Steel market by 2027. 5] What is the market size of the Global Electrical Steel market by 2027? Ans. The market size of the Global Electrical Steel market is US $53.64 Bn. by 2027. 6] What was the market size of the Global Electrical Steel market in 2020? Ans. The market size of the Global Electrical Steel market was worth US $31.50 Bn. in 2020.
1. Global Electrical Steel Market: Research Methodology 2. Global Electrical Steel Market: Executive Summary 2.1 Market Overview and Definitions 2.1.1. Introduction to Global Electrical Steel Market 2.2. Summary 2.1.1. Key Findings 2.1.2. Recommendations for Investors 2.1.3. Recommendations for Market Leaders 2.1.4. Recommendations for New Market Entry 3. Global Electrical Steel Market: Competitive Analysis 3.1 MMR Competition Matrix 3.1.1. Market Structure by region 3.1.2. Competitive Benchmarking of Key Players 3.2 Consolidation in the Market 3.2.1 M&A by region 3.3 Key Developments by Companies 3.4 Market Drivers 3.5 Market Restraints 3.6 Market Opportunities 3.7 Market Challenges 3.8 Market Dynamics 7.9 PORTERS Five Forces Analysis 3.10 PESTLE 3.11 Regulatory Landscape by region • North America • Europe • Asia Pacific • The Middle East and Africa • Latin America 3.12 COVID-19 Impact 4. Global Electrical Steel Market Segmentation 4.1 Global Electrical Steel Market, by Type (2020-2027) • Grain-oriented • Non-Grain-oriented 4.2 Global Electrical Steel Market, by Application (2020-2027) • Transformers • Motors • Inductors • Others 4.3 Global Electrical Steel Market, by End Use Industry (2020-2027) • Energy • Automobiles • Manufacturing • Household Appliances • Others 5. North America Global Electrical Steel Market (2020-2027) 5.1 Global Electrical Steel Market, by Type (2020-2027) • Grain-oriented • Non-Grain-oriented 5.2 Global Electrical Steel Market, by Application (2020-2027) • Transformers • Motors • Inductors • Others 5.3 Global Electrical Steel Market, by End Use Industry (2020-2027) • Energy • Automobiles • Manufacturing • Household Appliances • Others 5.4 North America Global Electrical Steel Market, by Country (2020-2027) • United States • Canada • Mexico 6. Asia Pacific Global Electrical Steel Market (2020-2027) 6.1. Asia Pacific Global Electrical Steel Market, by Type (2020-2027) 6.2. Asia Pacific Global Electrical Steel Market, by Application (2020-2027) 6.3. Asia Pacific Global Electrical Steel Market, by End Use Industry (2020-2027) 6.4. Asia Pacific Global Electrical Steel Market, by Country (2020-2027) • China • India • Japan • South Korea • Australia • ASEAN • Rest Of APAC 7. Middle East and Africa Global Electrical Steel Market (2020-2027) 7.1 Middle East and Africa Global Electrical Steel Market, by Type (2020-2027) 7.2. Middle East and Africa Global Electrical Steel Market, by Application (2020-2027) 7.3. Middle East and Africa Global Electrical Steel Market, by End Use Industry (2020-2027) 7.4. Middle East and Africa Global Electrical Steel Market, by Country (2020-2027) • South Africa • GCC • Egypt • Nigeria • Rest Of ME&A 8. Latin America Global Electrical Steel Market (2020-2027) 8.1. Latin America Global Electrical Steel Market, by Type (2020-2027) 8.2. Latin America Global Electrical Steel Market, by Application (2020-2027) 8.3. Latin America Global Electrical Steel Market, by End Use Industry (2020-2027) 8.4. Latin America Global Electrical Steel Market, by Country (2020-2027) • Brazil • Argentina • Rest Of Latin America 9. European Global Electrical Steel Market (2020-2027) 9.1. European Global Electrical Steel Market, by Type (2020-2027) 9.2. European Global Electrical Steel Market, by Application (2020-2027) 9.3. European Global Electrical Steel Market, by End Use Industry (2020-2027) 9.4. European Global Electrical Steel Market, by Country (2020-2027) • UK • France • Germany • Italy • Spain • Sweden • Austria • Rest Of Europe 10. Company Profile: Key players 10.1. Nippon Steel & Sumitomo Metal Corporation (NSSMC) Group 10.1.1. Company Overview 10.1.2. Financial Overview 10.1.3. Global Presence 10.1.4. Capacity Portfolio 10.1.5. Business Strategy 10.1.6. Recent Developments 10.2. Shandong Iron and Steel Group Co Ltd 10.3. JFE Steel Corporation 10.4. SAIL (Steel Authority of India Limited) 10.5. Shagang Group Inc. 10.6. ArcelorMittal 10.7. Ansteel Group Corporation 10.8. Baosteel Group 10.9. POSCO 10.10. Voestalpine Group 10.11. United States Steel Corporation 10.12. Jindal Steel and Power Limited 10.13. HBIS Group 10.14. Allengency Technologies 10.15. Angang Steel Company Limited 10.16. China Steel Corporation 10.17. Electrosteel Limited 10.18. EssarSteel 10.19. HebeiPuyang Iron and Steel Group 10.20. Jsw Steel 10.21. Tata Steel Limited

About This Report

Report ID13435
Category Electronics
Published Datesep 2019
Updated DateNov 2021
Contact Us