Electrical steel is used in high-power consumer appliances such as air conditioners, refrigerators, and high-power coolers.Consumer appliance manufacturers are focusing on using electrical steel that is environment-friendly (less heat losses) instead of regular steel.
This helps them save around 15% to 30% of energy.Electronic components made from electrical steel that are used in consumer appliances include compressor motors and relays.
These appliances are installed in cabins, confined spaces, or rooms; therefore, they are ideally required to be compact owing to space constraints. Hence, electrical steel used in compressor motors, relays, switches, etc. enables consumer appliance manufacturers to lower product size and also offer products with reduced noise output vis-à-vis those appliances that are manufactured with components made from regular steel.
Recently, amendments were carried out in trade policies of the global electrical steel market.These amendments were at regional and global level and were implemented for the ease of trade between nations and for their own regional business prospects.
Amendments included setting up a minimum price for the import of particular grade of electrical steel from particular regions/countries.The anti-dumping duties were modified in order to avoid the oversupply of electrical steel in some markets.
There were changes in legislatures such as advancements of free trade agreements (FTA) and negotiations with transpacific partnerships. Furthermore, the European Union decided to set a minimum price for the import of a particular-grade electrical steel from Japan, China, South Korea, Russia, and the U.S. Government initiatives as well as liberalization of policies are expected to offer lucrative opportunities to electrical steel companies. According to Canacero, a steel association, steel exports are falling in Mexico. Exports dropped 25% in January-July 2015. Some economic risks identified by Mizuno (Malaysia’s Steel Association) can affect the global electrical steel market. They include high unemployment in developed markets, slowdown in developed markets and China, and financial issues in Europe.
This report analyzes and forecasts the electrical steel market at the global and regional level.The market has been forecast based on revenue (US$ Mn) and volume (kilo tons) from 2017 to 2026, considering 2017 as the base year.
The study includes drivers and restraints of the global electrical steel market.It also covers impact of these drivers and restraints on demand for electrical steel during the forecast period.
The report also highlights opportunities in the electrical steel market at the global and regional level.
The report includes detailed value chain analysis, which provides a comprehensive view of the global electrical steel market.Porter’s Five Forces model for the electrical steel market has also been included to help understand the competitive landscape.
The study encompasses market attractiveness analysis, wherein products and application are benchmarked based on their market size, growth rate, and general attractiveness.
The study provides a decisive view of the global electrical steel market by segmenting it in terms of type, application, end-user industry, and region.In terms of type, the electrical steel market has been classified into grain oriented and non-grain oriented.
Based on application, the electrical steel market can be divided into transformer, inductor, motor (rotor, stator, and others), and others.In terms of end-user industry, the global electrical steel market can be segregated into automotive, manufacturing, energy, household appliances, and others.
Regional segmentation includes current and forecast demand for electrical steel in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
The report provides the actual size of the electrical steel market for 2017 and estimated size for 2018 with forecast for the next eight years.The global electrical steel market has been provided in terms of revenue.
Market numbers have been estimated based on type, transport, application, and end-user industry of the electrical steel market. Market revenue and volume size have been provided in terms of global, regional, and country level markets.
The report comprises profiles of major companies operating in the global electrical steel market. Key players operating in the electrical steel market include 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 (Baowu Steel Group Corporation Limited), POSCO, Voestalpine Group, Tata Steel Limited, United States Steel Corporation, Jindal Steel and Power Limited, and HBIS Group. Market players have been profiled in terms of attributes such as company overview, financial overview, business strategies, and recent developments.
The global electrical steel market has been segmented as follows:
Electrical Steel Market, by Type Grain Oriented Non-grain Oriented
Electrical Steel Market, by Application Transformer Inductor Motor Rotor Stator Others
Others Electrical Steel Market, by End-user Industry Automotive Manufacturing Energy Household Appliances Others
Electrical Steel Market, by Region North America U.S. Canada Europe Germany U.K. France Spain Italy Russia & CIS Rest of Europe Asia Pacific China India Japan ASEAN Rest of Asia Pacific Latin America Brazil Mexico Rest of Latin America Middle East & Africa (MEA) GCC South Africa Rest of Middle East & Africa Key Takeaways
Currently, Asia Pacific is a leading consumer as well as producer of electrical steel in terms of revenue and volume.This is ascribed primarily to the rise in urbanization and industrialization in developing economies such as China and India.
The surplus of steel is significantly high due to overcapacity.This has led to closure of various steel mills in China.
This is expected to impact the global supply as well as demand for electrical steel and counterparts. The prices of steel plates, rebars, cold-rolled coils, and hot rolled coils have been rising across the globe. This trend is likely to continue in the near future.
Our reports have been used by over 10K customers, including:
Electrical Steel Market Research Report by Type (Grain-Oriented Steel and Non Grain-Oriented Steel), by Application (Inductors, Motors, and Transformers), by End-Use Industry - Global Forecast to 2025 - Cumulative Impact of COVID-19 The Global Electrical Steel Market is expected to grow from USD 41,400.53 Million in...
Flat Carbon Steel Market Research Report by Product (Cold-rolled Coils, Galvanized Coils, Hot-rolled Coils, Plates, and Pre-painted Steel Coils), by Application (Building & Infrastructure, Energy, Mechanical Equipment Manufacturing, and Transportation) - Global Forecast to 2025 - Cumulative Impact of COVID-19 The Global...
Heat-treated Steel Plate Market Research Report by Steel Type (Alloy Steel, Carbon Steel, and Stainless Steel), by Treatment (Normalizing, Quenching & Tempering, Spheroidizing, and Stress Relieving), by Application - Global Forecast to 2025 - Cumulative Impact of COVID-19 The Global Heat-treated Steel Plate Market is...
Iron & Steel Scrap Recycling Market Research Report by Scrap Type (Cast Iron, Heavy Melting Steel, Manganese Steel, Old Car Bodies, and Pressing Steel), by Equipment (Briquetting Machines, Granulating Machines, Shears, and Shredders), by End User - Global Forecast to 2025 - Cumulative Impact of COVID-19 The Global Iron...
Advanced High Strength Steel Market Research Report by Grade (Complex Phase, Dual-phase, and Transformation-induced Plasticity), by End-User (Automotive, Aviation & Marine, and Construction) - Global Forecast to 2025 - Cumulative Impact of COVID-19 The Global Advanced High Strength Steel Market is expected to grow from...
377 pages •
By Global Industry Analysts
• Jul 2020
Global Electrical Steel Market to Reach $49.3 Billion by 2027 Amid the COVID-19 crisis, the global market for Electrical Steel estimated at US$33.2 Billion in the year 2020, is projected to reach a revised size of US$49.3 Billion by 2027, growing at aCAGR of 5.8% over the period 2020-2027. Grain-Oriented, one of the segments analyzed...
The market for Limestone is anticipated to register a CAGR of over 6% during the forecast period. Limestone is a sedimentary rock composed primarily of calcium carbonate in the form of mineral calcite. It can also be in the form of chemical sedimentary rock, formed by the precipitation of calcium carbonate from lake or ocean water. -...
The market for graphite electrode is anticipated to register a CAGR of around 5% (in terms of volume) during the forecast period. The primary raw material used for the production of graphite electrode is needle coke (either petroleum-based or coal-based). - Rising production of iron and steel in emerging countries, rising availability...
Sintered Steel Market Research Report by Steel Type (Alloy Steel, Carbon Steel, Stainless Steel, and Tool Steel), by Process (Additive Manufacturing (AM), Conventional Manufacturing, Metal Injection Molding (MIM), and Powder Forged Manufacturing), by End-User, by Application - Global Forecast to 2025 - Cumulative Impact of COVID-19 The...
The graphite market is expected to register a CAGR of over 5.5% during the forecast period. The major factors driving the growth of the market studied include augmenting demand from the burgeoning lithium-ion (Li-ion) battery and growth in steel production of Asia & Middle-East. - On the flipside, development of substitute anode materials...
You can change your Cookie Settings at any time but parts of our site will not function correctly without them.