Market Overview:
The global GO Electrical Steel market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The growth in the market can be attributed to the increasing demand for electric vehicles and renewable energy sources. Additionally, GO electrical steel is used in transformers, power generators, motors, and other applications. The Asia Pacific region is expected to dominate the market during the forecast period owing to the growing demand for electric vehicles and renewable energy sources in countries such as China and India.
Product Definition:
The definition of GO Electrical Steel is a type of steel that has been specifically designed for electrical applications. It is important because it can handle higher voltages and temperatures than other types of steel, making it ideal for use in electrical equipment.
High Magnetic Strength:
Magnetic steel is a special type of steel that possesses high magnetic strength. It can be differentiated from low magnetic strength steels by the fact that they have low permeability to non-uniformly distributed applied field and high permeability to uniformly distributed applied field.
Conventional:
Conventional GO Electrical Steel Market Size, Share & Trends Analysis Report By Application (Power Transmission & Distribution, Power Generation), By Region (North America, Europe, Asia Pacific), And Segment Forecasts, 2020 - 2027 -> The global conventional and its usage in the electrical steel market size was valued at USD 2.8 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 3.5% from 2020 to 2027.
Application Insights:
The transformer application segment accounted for the largest share of over 30.0% in 2017 and is projected to witness significant growth over the forecast period. The growing demand for electrical steel in transformers, owing to its ability to withstand high magnetic fields, is expected to drive product demand over the coming years.
Transformer core was one of the major applications that accounted for a significant market share in 2017 and is estimated to grow at a CAGR of XX% from 2018-2030 due largely on account of its ability withstand high magnetic fields which results in increased productivity resulting into higher profit margins for manufacturers as compared with other metals used as cores such as iron or copper alloys.
Regional Analysis:
Asia Pacific dominated the global market in 2017 and is expected to continue its dominance over the forecast period. The region is home to several emerging economies, including China, India, Indonesia and Malaysia. These countries are witnessing strong economic growth owing to various factors such as increasing population, rising living standards of consumers and rapid industrialization & urbanization.
China accounted for a major share in terms of both volume (over 80%) as well as revenue generation in Asia Pacific regional market due to presence of key steel producers such as Nippon Steel & Sumitomo Metal Corporation (NSSMC) and other end-use industries across this region. In addition, growing investments by Chinese government towards development of electric vehicles coupled with favorable policies implemented by governments regarding production incentives on EVs will further boost industry growth over the next eight years.
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 microgrids
- Technological advancements in electrical steel manufacturing
Scope Of The Report
Report Attributes
Report Details
Report Title
GO Electrical Steel Market Research Report
By Type
High Magnetic Strength, Conventional, Domain Refinement
By Application
Transformer, Power Generator, Motor, Other
By Companies
Baowu Group, Nippon Steel Corporation, AK Steel, NLMK Group, ThyssenKrupp, Posco, JFE Steel, Shougang, Stalprodukt S.A., Ansteel, Baowu Group
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
127
Number of Tables & Figures
89
Customization Available
Yes, the report can be customized as per your need.
Global GO Electrical Steel Market Report Segments:
The global GO Electrical Steel market is segmented on the basis of:
Types
High Magnetic Strength, Conventional, Domain Refinement
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, Motor, Other
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 Group
- Nippon Steel Corporation
- AK Steel
- NLMK Group
- ThyssenKrupp
- Posco
- JFE Steel
- Shougang
- Stalprodukt S.A.
- Ansteel
- Baowu Group
Highlights of The GO Electrical Steel 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:
- High Magnetic Strength
- Conventional
- Domain Refinement
- By Application:
- Transformer
- Power Generator
- Motor
- Other
- 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 GO Electrical Steel 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.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
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?
GO Electrical Steel is a type of steel that is used in electrical applications. It has a higher strength and durability than other types of steel, which makes it ideal for use in products that are subjected to high levels of stress.
Some of the major companies in the go electrical steel market are Baowu Group, Nippon Steel Corporation, AK Steel, NLMK Group, ThyssenKrupp, Posco, JFE Steel, Shougang, Stalprodukt S.A., Ansteel, Baowu Group.
The go electrical steel market is expected to register a CAGR of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 GO Electrical Steel Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 GO Electrical Steel Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 GO Electrical Steel Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the GO Electrical Steel Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global GO Electrical Steel Market Size & Forecast, 2018-2028
4.5.1 GO Electrical Steel Market Size and Y-o-Y Growth
4.5.2 GO Electrical Steel Market Absolute $ Opportunity
Chapter 5 Global GO Electrical Steel Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 GO Electrical Steel Market Size Forecast by Type
5.2.1 High Magnetic Strength
5.2.2 Conventional
5.2.3 Domain Refinement
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global GO Electrical Steel Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 GO Electrical Steel Market Size Forecast by Applications
6.2.1 Transformer
6.2.2 Power Generator
6.2.3 Motor
6.2.4 Other
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global GO Electrical Steel Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 GO Electrical Steel Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America GO Electrical Steel Analysis and Forecast
9.1 Introduction
9.2 North America GO Electrical Steel Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America GO Electrical Steel Market Size Forecast by Type
9.6.1 High Magnetic Strength
9.6.2 Conventional
9.6.3 Domain Refinement
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America GO Electrical Steel Market Size Forecast by Applications
9.10.1 Transformer
9.10.2 Power Generator
9.10.3 Motor
9.10.4 Other
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe GO Electrical Steel Analysis and Forecast
10.1 Introduction
10.2 Europe GO Electrical Steel Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe GO Electrical Steel Market Size Forecast by Type
10.6.1 High Magnetic Strength
10.6.2 Conventional
10.6.3 Domain Refinement
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe GO Electrical Steel Market Size Forecast by Applications
10.10.1 Transformer
10.10.2 Power Generator
10.10.3 Motor
10.10.4 Other
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific GO Electrical Steel Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific GO Electrical Steel Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific GO Electrical Steel Market Size Forecast by Type
11.6.1 High Magnetic Strength
11.6.2 Conventional
11.6.3 Domain Refinement
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific GO Electrical Steel Market Size Forecast by Applications
11.10.1 Transformer
11.10.2 Power Generator
11.10.3 Motor
11.10.4 Other
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America GO Electrical Steel Analysis and Forecast
12.1 Introduction
12.2 Latin America GO Electrical Steel Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America GO Electrical Steel Market Size Forecast by Type
12.6.1 High Magnetic Strength
12.6.2 Conventional
12.6.3 Domain Refinement
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America GO Electrical Steel Market Size Forecast by Applications
12.10.1 Transformer
12.10.2 Power Generator
12.10.3 Motor
12.10.4 Other
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) GO Electrical Steel Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) GO Electrical Steel Market Size 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 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) GO Electrical Steel Market Size Forecast by Type
13.6.1 High Magnetic Strength
13.6.2 Conventional
13.6.3 Domain Refinement
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) GO Electrical Steel Market Size Forecast by Applications
13.10.1 Transformer
13.10.2 Power Generator
13.10.3 Motor
13.10.4 Other
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 GO Electrical Steel Market: Competitive Dashboard
14.2 Global GO Electrical Steel Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Baowu Group
14.3.2 Nippon Steel Corporation
14.3.3 AK Steel
14.3.4 NLMK Group
14.3.5 ThyssenKrupp
14.3.6 Posco
14.3.7 JFE Steel
14.3.8 Shougang
14.3.9 Stalprodukt S.A.
14.3.10 Ansteel
14.3.11 Baowu Group
