Global Electrical Steel Market showed crucial growth in the recent years and is anticipated to witness a steep rise by generating an estimated revenue of US$ xx.xx Billion over the forecast period. According to latest study conducted by our analysts and industry experts, the global market is expected to grow at a CAGR of 6.21% during the forecast period, i.e. 2017-2025. The market growth can be attributed some of the core end-use industry such as energy, power generation plants, automotive and electronics, that has resulted in advancement in technologies which is expected to boost the electrical steel market.

Global Market Growth Opportunities (Revenue, Growth) By 2017-2025

This global market study report analysis offers in-depth insights, revenue details, and other vital information regarding the global electrical steel market, and the various trends, drivers, restraints, opportunities, and threats in the target market till 2025. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global electrical steel market report has been segmented on the basis of type, application, and region. It includes the estimation of the market size, in terms of value, with respect to 4 main geographies, namely, North America, Europe, APAC, and RoW.   

Market Dynamics

Electrical Steel Market is associated to some of the core end-use industry such as energy, power generation plants, automotive and electronics, that has resulted in advancement in technologies which is expected to boost the electrical steel market. Electrical steel is an alloy which consist of silicon and iron coupled with magnetic properties which are embedded into the steel to make them lucid to electricity. Electrical steel, also known as silicon steel or laminate steel are used for various applications such as generators, transformers, inductors and others. These electrical steel are generally of two types which are grain-oriented electrical steel and non-oriented electrical steel. The grain-oriented electrical steel which is manufactured from low carbon steel, are used in energy efficient transformers and large transformers. However, the non-oriented electrical steel is used in small transformers, high frequency devices, rotating machines of variety of sizes, among others. These electric steels enhance the power generation from the turbines as they helps the energy to be fed into the transformers thereby increasing the voltage with effective transmission of energy over very long distances.

Market Segment Analysis

The electrical steel market is expected to propel due to its application in energy and power generation coupled with the global energy deficiency in the African and Asian countries such as Indonesia, Myanmar, Pakistan and others. Another factor which is expected to drive the market of electrical steel is the rise of electric vehicles in the automotive industry. For instance, thyssenkrupp Steel Europe, is one of the largest suppliers of electrical steel for electric vehicles in Europe. According to the Department of Energy, in 2016, the electric vehicles market has increased by 46% with China being the leader followed by Japan, Germany and the United States. The growth of electric vehicles is due to rise in government regulations to control air pollution and reduce the emission of GHG coupled with reduction in gasoline run vehicles, which in return in expected to boost the market during the forecast period. The demand for grain-oriented electrical steel is expected to boost the market due to rise in renewable energy and smart powered electricity via solar and wind which requires transformers according to amount of power to be transmitted. However, non-grain oriented electrical steel is expected to gain traction for the electrical steel market due to its application in white goods such as home appliances, refrigerator, washing machine and others coupled with its application in electric motors. Owing to these factors the market is expected to gain major traction during the forecast period (2018 – 2025).

Regional Analysis

The global electrical steel market is divided into regions that are North America - U.S, Canada, Other; Asia-Pacific -India, Japan, China, Australia, Other; Europe - UK, Russia, France, Brazil, Other; Middle East and Africa. Every region analysis details in sense of growth, revenue, volume, challenges, and opportunities with the regional and global key players. Asia Pacific is expected to dominate the electrical steel market throughout the forecast period from 2018 to 2025 followed by Europe and North America. The major factor that is expected to boost the electrical steel market in Asia Pacific is the rise in electric vehicles. The electric vehicles market is majorly led by China and Japan, with 40% of the total production of electric vehicles coming from china and holding a market share of 26% globally, in 2017, according to United States Environmental Protection Agency (EPA). Thus the application of electrical steel into electric motors is expected to proper the market during the forecast period.

Global Electrical Steel Market Size, Share Analysis By Region 2017

Global Electrical Steel Market Study Objective

1. To forecast the market size of electrical steel market, along with describing and defining the market, in terms of volume and revenue.

2. Market analysis and forecast of electrical steel market on the basis of region, substrate and application or end-use industry.

3. To analyze and elaborate significant factors that will have major impact on the growth of electrical steel market, such as drivers, restraints, challenges and opportunities.

4. Regional analysis of electrical steel market, to induce market size of five global major regions, which include, Europe, North America, South America, Middle East & Africa and Asia Pacific.

5. Strategic analysis of micromarkets, in terms of individual prospects, opportunities, growth trends and their involvement in overall market.

6. To provide detailed analysis of competitive and strategic developments in the electrical steel market like new product launch, partnership & agreement, investment & expansion, and company merger & acquisitions.

Key Players Landscape

The market for electrical steel market is expected to propel with various mergers and product innovation by various market players. For instance, In 2017, Nisshin Steel Co.,Ltd., was acquired by Nippon Steel & Sumitomo Metal Corporation (NSSMC) Group which is an integrated steel manufacturer that specializes in the ordinary steel, special steel, and others. Tata Steel Europe, in 2015, developed a new electrical steel with chrome-free phosphate insulation coating and formaldehyde-free, organic coating, which provides a much safer and environment friendly environment. Major players operating in the field of electrical steel market include Cogent (Tata Steel), thyssenkrupp AG, AK Steel, ArcelorMittal S.A., POSCO, Stalprodukt S.A., among others.

Global Electrical Steel Market Study Report Offer You!

The global market study report gives an idea about market size, share, stock, equity, investment and total price analysis. Also, the report provides comprehensively industry insights with all major factors such as market credit, allocation, demand, distribution, market scope, key players, end user & applications, provisions, livestock, commodities and industry economics analysis, future growth & forecast. The global market report includes all depth data like pre-market emphasis, market survey, market investment, industry advice, portfolio, finance, access, trade, market exploration, industry review and market predication & projection to develop effective strategies for optimizing their market position.