Market Overview:
The global transformer steel 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, which in turn is fueling the demand for transformers and other related equipment. Based on type, the global transformer steel market can be segmented into 23Z, 27Z, 30Z, 35Z, 23ZH, 27ZH, 30ZH and 35 ZH. Among these types, 23 Z steel accounts for a major share of the global transformer steel market due to its high strength-to-weight ratio and corrosion resistance properties. By application type; transformer accounted for a majority of the share in 2017 owing to its widespread use across various industries such as power generation,, electric motor drives etc.
Product Definition:
Transformer steel is a type of low-carbon steel that is specifically designed for use in electrical transformers. It has a high resistance to magnetic flux and a low coefficient of thermal expansion, which makes it ideal for use in transformer cores. Transformer steel is also non-magnetic, which helps to minimize eddy currents and improve efficiency.
23Z:
23Z is a new alloy material, which contains elements of zinc and tin. It has been designed by the scientists at the University of Bristol to meet the needs for transformer steel in power transformers. The material has been given a name as it contains 23% zinc and 77% tin by weight, with an additional iron oxide (Fe2O3) content to give it a total composition of 18%.
27Z:
27Z is a ferritic alloy containing iron, zinc and nickel. It has the highest wear resistance among all the steels. 27Z steel is used in power transformer as it can take high heat and pressure which other steels cannot do. The main reason for its use in transformers is that it has better magnetic properties than regular iron-zinc-copper (IOC) alloy at low temperatures, but worse than pure copper at high temperatures.
Application Insights:
The transformer application segment led the global market in 2017 and is projected to witness significant growth over the forecast period. Transformer steel finds applications in electric power generation, transmission & distribution network, consumer electronics, medical equipment and appliances among others. The growing demand for electricity across emerging economies including China India and Brazil is expected to have a positive impact on product demand over the next few years.
Power generator application segment accounted for a share of 21% of total volume in 2017 owing to high product utilization in power plants across various regions including Asia Pacific North America Europe Latin America Middle East & Africa. Growing electricity demand across various countries coupled with technological advancements such as hydro-power conversion has increased the importance of transformers within power generation industry which is likely to propel market growth over the coming years.
Regional Analysis:
Asia Pacific dominated the global market in 2017 and is expected to continue its dominance over the forecast period. The growth of this region can be attributed to increasing demand for electric vehicles, rising investments in renewable energy, and expanding industrial sector. Furthermore, China has been a major consumer of transformer steel owing to heavy investment in power generation sector coupled with rapid urbanization.
North America accounted for a significant share of global revenue due to growing demand from end-use industries such as electrical & electronics and medical devices along with favorable government policies regarding trade balance between U.S., Canada, Mexico that encourages free flow of goods across international borders facilitating easy access to raw materials at competitive prices thereby promoting domestic manufacturing activities leading towards higher production volumes which is anticipated favorably impact industry growth over the next eight years.
Europe was valued at USD X million in 2017.
Growth Factors:
- Increasing demand from the construction and infrastructure sectors
- Rising demand for high-quality steel in developing countries
- Growing use of steel in automobiles and other transportation sectors
- Rapid expansion of the manufacturing sector worldwide
- Technological advancements that improve the performance of steel products
Scope Of The Report
Report Attributes
Report Details
Report Title
Transformer Steel Market Research Report
By Type
23Z, 27Z, 30Z, 35Z, 23ZH, 27ZH, 30ZH, 35ZH
By Application
Transformer, Power Generator, Electric Motor, Others
By Companies
NSSMC, Posco, JFE Steel, NLMK Group, ThyssenKrupp, AK Steel, Cogent, ArcelorMittal, Stalprodukt S.A., ATI, WISCO, BAO Steel, Shou Gang, Anst
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
221
Number of Tables & Figures
155
Customization Available
Yes, the report can be customized as per your need.
Global Transformer Steel Market Report Segments:
The global Transformer Steel market is segmented on the basis of:
Types
23Z, 27Z, 30Z, 35Z, 23ZH, 27ZH, 30ZH, 35ZH
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:
- NSSMC
- Posco
- JFE Steel
- NLMK Group
- ThyssenKrupp
- AK Steel
- Cogent
- ArcelorMittal
- Stalprodukt S.A.
- ATI
- WISCO
- BAO Steel
- Shou Gang
- Anst
Highlights of The Transformer 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:
- 23Z
- 27Z
- 30Z
- 35Z
- 23ZH
- 27ZH
- 30ZH
- 35ZH
- 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 Transformer 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
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- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
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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?
Transformers are made of a special type of steel that is able to change its shape when it is heated. This makes the metal stronger and more durable.
Some of the key players operating in the transformer steel market are NSSMC, Posco, JFE Steel, NLMK Group, ThyssenKrupp, AK Steel, Cogent, ArcelorMittal, Stalprodukt S.A., ATI, WISCO, BAO Steel, Shou Gang, Anst.
The transformer 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 Transformer 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 Transformer Steel Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Transformer 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 Transformer 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 Transformer Steel Market Size & Forecast, 2018-2028
4.5.1 Transformer Steel Market Size and Y-o-Y Growth
4.5.2 Transformer Steel Market Absolute $ Opportunity
Chapter 5 Global Transformer 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 Transformer Steel Market Size Forecast by Type
5.2.1 23Z
5.2.2 27Z
5.2.3 30Z
5.2.4 35Z
5.2.5 23ZH
5.2.6 27ZH
5.2.7 30ZH
5.2.8 35ZH
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Transformer 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 Transformer Steel Market Size Forecast by Applications
6.2.1 Transformer
6.2.2 Power Generator
6.2.3 Electric Motor
6.2.4 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Transformer 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 Transformer 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 Transformer Steel Analysis and Forecast
9.1 Introduction
9.2 North America Transformer 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 Transformer Steel Market Size Forecast by Type
9.6.1 23Z
9.6.2 27Z
9.6.3 30Z
9.6.4 35Z
9.6.5 23ZH
9.6.6 27ZH
9.6.7 30ZH
9.6.8 35ZH
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 Transformer Steel Market Size Forecast by Applications
9.10.1 Transformer
9.10.2 Power Generator
9.10.3 Electric Motor
9.10.4 Others
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 Transformer Steel Analysis and Forecast
10.1 Introduction
10.2 Europe Transformer 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 Transformer Steel Market Size Forecast by Type
10.6.1 23Z
10.6.2 27Z
10.6.3 30Z
10.6.4 35Z
10.6.5 23ZH
10.6.6 27ZH
10.6.7 30ZH
10.6.8 35ZH
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 Transformer Steel Market Size Forecast by Applications
10.10.1 Transformer
10.10.2 Power Generator
10.10.3 Electric Motor
10.10.4 Others
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 Transformer Steel Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Transformer 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 Transformer Steel Market Size Forecast by Type
11.6.1 23Z
11.6.2 27Z
11.6.3 30Z
11.6.4 35Z
11.6.5 23ZH
11.6.6 27ZH
11.6.7 30ZH
11.6.8 35ZH
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 Transformer Steel Market Size Forecast by Applications
11.10.1 Transformer
11.10.2 Power Generator
11.10.3 Electric Motor
11.10.4 Others
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 Transformer Steel Analysis and Forecast
12.1 Introduction
12.2 Latin America Transformer 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 Transformer Steel Market Size Forecast by Type
12.6.1 23Z
12.6.2 27Z
12.6.3 30Z
12.6.4 35Z
12.6.5 23ZH
12.6.6 27ZH
12.6.7 30ZH
12.6.8 35ZH
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 Transformer Steel Market Size Forecast by Applications
12.10.1 Transformer
12.10.2 Power Generator
12.10.3 Electric Motor
12.10.4 Others
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) Transformer Steel Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Transformer 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) Transformer Steel Market Size Forecast by Type
13.6.1 23Z
13.6.2 27Z
13.6.3 30Z
13.6.4 35Z
13.6.5 23ZH
13.6.6 27ZH
13.6.7 30ZH
13.6.8 35ZH
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) Transformer Steel Market Size Forecast by Applications
13.10.1 Transformer
13.10.2 Power Generator
13.10.3 Electric Motor
13.10.4 Others
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 Transformer Steel Market: Competitive Dashboard
14.2 Global Transformer Steel Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 NSSMC
14.3.2 Posco
14.3.3 JFE Steel
14.3.4 NLMK Group
14.3.5 ThyssenKrupp
14.3.6 AK Steel
14.3.7 Cogent
14.3.8 ArcelorMittal
14.3.9 Stalprodukt S.A.
14.3.10 ATI
14.3.11 WISCO
14.3.12 BAO Steel
14.3.13 Shou Gang
14.3.14 Anst
