Market Overview:
The global electrical steels market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for electric vehicles and renewable energy sources. Additionally, the growing demand for transformer, power generator, electric motor and other applications is also contributing to the growth of this market. Based on type, the global electrical steels market can be segmented into oriented electrical steels and non-oriented electrical steels. The oriented electrical steel segment is expected to grow at a higher CAGR than the non-oriented electrical steel segment during the forecast period from 2018 to 2030.
Product Definition:
Electrical steels are a type of steel that is specifically designed to be used in electrical applications. They have a higher resistance to electricity than other types of steel, making them ideal for use in wiring, transformers, and other electrical equipment. Electrical steels are also more resistant to corrosion and heat than other types of steel, making them an ideal choice for use in high-temperature environments.
Oriented Electrical Steels:
Oriented electrical steels are special type of steel which has high electrical resistance when it is magnetized. Oriented steels possess higher energy levels than non-oriented ones and this leads to their usage in applications where a good deal of heat can be absorbed. They are used for manufacturing various products such as electric motors, transformers, switchgears and insulators among others.
Non-oriented Electrical Steels:
Non-oriented electrical steels are used in the production of high voltage transformers, switchgears, transmission lines and other electrical steel products. These steels have low carbon content and good mechanical properties. They possess a higher strength than that of conventional mild steel but are softer than alloyed metals such as nickel or copper.
Application Insights:
Transformer was the largest application segment in 2017 and is projected to witness significant growth over the forecast period. Transformer core is an essential component of electrical power generation equipment. The demand for transformers in various industries including automotive, industrial, and construction has been growing significantly owing to their ability to convert mechanical energy into electrical energy.
The product offers higher strength than other steels with similar carbon content; this makes it suitable for use in transformer applications where high safety requirements are required such as undersea electric cables or transmission lines that are built on land. In addition, increasing usage of transformers in power distribution equipment is expected to drive the market growth over the coming years.
Power generator was one of the prominent segments accounting for a share of 29% by revenue in 2017 due largely to rising demand from China.
Regional Analysis:
Asia Pacific is expected to be the largest market for electrical steel over the forecast period. The growth of this region can be attributed to rapid industrialization and increasing foreign investments in developing economies such as China, India, Thailand, Indonesia, and Malaysia. In addition to this, favorable government policies promoting manufacturing activities are also expected to boost demand for electric motors and transformers in these countries over the next eight years.
The Asia Pacific was followed by Europe which accounted for a revenue share of 22% in 2017 owing to high demand from several major industries including power generation and wind energy that have been expanding their operations across European countries such as Germany, France Italy Spain U.K., Romania Poland Russia etc.
Growth Factors:
- Increasing demand from the automotive and electrical industries
- Growing popularity of electric vehicles
- Rising investment in renewable energy sources
- Proliferation of smart grids and energy storage systems
- Stringent government regulations for energy conservation
Scope Of The Report
Report Attributes
Report Details
Report Title
Electrical Steels Market Research Report
By Type
Oriented Electrical Steels, Non-oriented Electrical Steels
By Application
Transformer, Power Generator, Electric Motor, Others
By Companies
Baowu, ArcelorMittal, JFE Steel, Shougang, TISCO, NSSMC, NLMK Group, AK Steel, ThyssenKrupp, Ansteel, Masteel, Posco, Cogent(Tata Steel), Voestalpine, Benxi Steel, APERAM, Nucor, ATI, Stalprodukt S.A., CSC
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
244
Number of Tables & Figures
171
Customization Available
Yes, the report can be customized as per your need.
Global Electrical Steels Market Report Segments:
The global Electrical Steels market is segmented on the basis of:
Types
Oriented Electrical Steels, Non-oriented Electrical Steels
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Transformer, Power Generator, Electric Motor, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Baowu
- ArcelorMittal
- JFE Steel
- Shougang
- TISCO
- NSSMC
- NLMK Group
- AK Steel
- ThyssenKrupp
- Ansteel
- Masteel
- Posco
- Cogent(Tata Steel)
- Voestalpine
- Benxi Steel
- APERAM
- Nucor
- ATI
- Stalprodukt S.A.
- CSC
Highlights of The Electrical Steels Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Oriented Electrical Steels
- Non-oriented Electrical Steels
- By Application:
- Transformer
- Power Generator
- Electric Motor
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Electrical Steels Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Electrical Steels are a type of steel that is used in the construction of electrical equipment. They are made from a variety of metals, but most often they contain nickel and other alloying elements. Electrical Steels have high strength and low weight, which makes them ideal for use in devices that require high durability and low weight.
Some of the major companies in the electrical steels market are Baowu, ArcelorMittal, JFE Steel, Shougang, TISCO, NSSMC, NLMK Group, AK Steel, ThyssenKrupp, Ansteel, Masteel, Posco, Cogent(Tata Steel), Voestalpine, Benxi Steel, APERAM, Nucor, ATI, Stalprodukt S.A., CSC.
The electrical steels market is expected to grow at a compound annual growth rate of 5.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Electrical Steels Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Electrical Steels Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Electrical Steels Market - Supply Chain
4.5. Global Electrical Steels Market Forecast
4.5.1. Electrical Steels Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Electrical Steels Market Size (000 Units) and Y-o-Y Growth
4.5.3. Electrical Steels Market Absolute $ Opportunity
5. Global Electrical Steels Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Electrical Steels Market Size and Volume Forecast by Type
5.3.1. Oriented Electrical Steels
5.3.2. Non-oriented Electrical Steels
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Electrical Steels Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Electrical Steels Market Size and Volume Forecast by Application
6.3.1. Transformer
6.3.2. Power Generator
6.3.3. Electric Motor
6.3.4. Others
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Electrical Steels Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Electrical Steels Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Electrical Steels Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Electrical Steels Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Electrical Steels Demand Share Forecast, 2019-2026
9. North America Electrical Steels Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Electrical Steels Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Electrical Steels Market Size and Volume Forecast by Application
9.4.1. Transformer
9.4.2. Power Generator
9.4.3. Electric Motor
9.4.4. Others
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Electrical Steels Market Size and Volume Forecast by Type
9.7.1. Oriented Electrical Steels
9.7.2. Non-oriented Electrical Steels
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Electrical Steels Demand Share Forecast, 2019-2026
10. Latin America Electrical Steels Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Electrical Steels Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Electrical Steels Market Size and Volume Forecast by Application
10.4.1. Transformer
10.4.2. Power Generator
10.4.3. Electric Motor
10.4.4. Others
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Electrical Steels Market Size and Volume Forecast by Type
10.7.1. Oriented Electrical Steels
10.7.2. Non-oriented Electrical Steels
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Electrical Steels Demand Share Forecast, 2019-2026
11. Europe Electrical Steels Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Electrical Steels Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Electrical Steels Market Size and Volume Forecast by Application
11.4.1. Transformer
11.4.2. Power Generator
11.4.3. Electric Motor
11.4.4. Others
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Electrical Steels Market Size and Volume Forecast by Type
11.7.1. Oriented Electrical Steels
11.7.2. Non-oriented Electrical Steels
11.8. Basis Point Share (BPS) Analysis by Tye
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Electrical Steels Demand Share, 2019-2026
12. Asia Pacific Electrical Steels Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Electrical Steels Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Electrical Steels Market Size and Volume Forecast by Application
12.4.1. Transformer
12.4.2. Power Generator
12.4.3. Electric Motor
12.4.4. Others
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Electrical Steels Market Size and Volume Forecast by Type
12.7.1. Oriented Electrical Steels
12.7.2. Non-oriented Electrical Steels
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Electrical Steels Demand Share, 2019-2026
13. Middle East & Africa Electrical Steels Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Electrical Steels Market Size and Volume Forecast by Country
13.2.1. Saudi Arabia
13.2.2. South Africa
13.2.3. UAE
13.2.4. Rest of Middle East & Africa (MEA)
13.3. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Electrical Steels Market Size and Volume Forecast by Application
13.4.1. Transformer
13.4.2. Power Generator
13.4.3. Electric Motor
13.4.4. Others
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Electrical Steels Market Size and Volume Forecast by Type
13.7.1. Oriented Electrical Steels
13.7.2. Non-oriented Electrical Steels
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Electrical Steels Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Electrical Steels Market: Market Share Analysis
14.2. Electrical Steels Distributors and Customers
14.3. Electrical Steels Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. Baowu
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. ArcelorMittal
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. JFE Steel
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. Shougang
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. TISCO
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. NSSMC
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. NLMK Group
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. AK Steel
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. ThyssenKrupp
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. Ansteel
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. Masteel
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. Posco
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. Cogent(Tata Steel)
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. Voestalpine
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. Benxi Steel
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. APERAM
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. Nucor
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. ATI
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. Stalprodukt S.A.
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. CSC
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook