Electrical Steel Market, by Type (Grain-oriented (Hi-Permeability (HiB), Conventional GOES, Laser magnetic domain refinement (LMDR)), Non-grain oriented (Fully Processed, Semi Processed)), by Application (Transformer (Distribution, Transmission, Portable)

Electrical Steel Market, by Type (Grain-oriented (Hi-Permeability (HiB), Conventional GOES, Laser magnetic domain refinement (LMDR)), Non-grain oriented (Fully Processed, Semi Processed)), by Application (Transformer (Distribution, Transmission, Portable), Motors (1hp - 100hp, 101hp – 200hp, 201hp – 500hp, 501hp-1000hp, Above 1001hp), Inductors), and by Region (North America, Latin America, Europe, Asia-pacific, Middle East & Africa)- Size, Share, Outlook, and Opportunity Analysis, 2022 - 2030

Electrical steel sheets are used in the electromagnetic devices such as generators, transformer, and motors. It is also referred as silicon steel, lamination steel or transformer steel, and is mainly used in automotive industries and electrical power distribution systems.

Market Dynamics

Global electrical steel market is growing at a substantial rate, owing to rise in consumption rate of electrical steel in motors and transformers. Furthermore, increasing sales of automotive vehicles is the key underlying factor supporting market growth. This scenario is expected to provide lucrative growth to the global electrical steel market over the forecast period.

Major players in the global electrical steel market are increasing their investment on innovative product launches, research & development, and marketing & promotional activities to capitalize on emerging trends in various end-use energy, household appliances and automobile industry. For instance, in 2018, AK Steel (steelmaking company), launched electrical steel for use in high voltage and ultra-voltage power transformers, TRAN-COR X, belongs to high permeability grain oriented electrical steel (GOES) type. This scenario is expected to fuel the market growth during the forecast period.

Based on application, the transformers segment is projected to be the largest segment in the electrical steel market. Growth of this segment is mainly attributed to the high demand for electrical steel as it is used in power generation, transmission, and distribution industries. Electrical steel is used in electrical transformer cores and other electrical devices, owing to the low hysteresis loss, high permeability, and high resistance it offers. It is used to make iron cores of motors. These cores concentrate the magnetic field and make the electromagnet stronger. Electrical steel is also used in the manufacturing of cores of inductors that are used extensively with capacitors and resistors to create filters for analog circuits and in signal processing.

Key features of the study:

• This report provides an in-depth analysis of the global electrical steel market, and provides market size (US$ Billion) and compound annual growth rate (CAGR %) for the forecast period (2022-2030), considering 2021 as the base year.
• It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, regional outlook, and competitive strategies adopted by key players
• It profiles key players in the global electrical steel market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
• Key companies covered as a part of this study include NLMK, Voestalpine AG, POSCO, Nippon Steel & Sumitomo Metal Corporation, Thyssenkrupp AG, JFE Steel Corporation, ArcelorMittal, Cogent Power Limited, Aperam, Baosteel Group Corporation, AK Steel Corporation, ATI, Schneider Electric, and Nicore Electrical Manufactory Co., Ltd.
• Insights from this report would allow marketers and management authorities of companies to make informed decision regarding future product launches, technology up gradation, market expansion, and marketing tactics.
• The global electrical steel market report caters to various stakeholders in this industry including investors, suppliers, electrical steel manufacturers, distributors, new entrants, and financial analysts
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global electrical steel market

Detailed Segmentation:

• Global Electrical Steel Market, By Type:
• Grain-oriented
• Hi-Permeability (HiB)
• Conventional GOES
• Laser magnetic domain refinement (LMDR)
• Non-grain oriented
• Fully Processed
• Semi Processed
• Global Electrical Steel Market, By Application :
• Transformer
• Distribution
• Transmission
• Portable
• Motors
• 1hp - 100hp
• 101hp – 200hp
• 201hp – 500hp
• 501hp-1000hp
• Above 1001hp
• Inductors
• Global Electrical Steel Market, By Region:
• North America
• By Country:
• U.S.
• Canada
• Latin America
• By Country:
• Brazil
• Argentina
• Mexico
• Rest of Latin America
• Europe
• By Country:
• France
• Germany
• Italy
• Spain
• U.K.
• Nordic
• Benelux
• Russia
• Poland
• Rest of Europe
• Asia Pacific
• By Country:
• China
• India
• Japan
• ASEAN
• Oceania
• Rest of Asia Pacific
• Middle East & Africa
• By Country:
• GCC
• South Africa
• Rest of Middle East & Africa
• Company Profiles
• NLMK*
• Company Overview
• Product Portfolio
• Key Strategies
• Recent Developments
• Future Plans
• Voestalpine AG
• POSCO
• Nippon Steel & Sumitomo Metal Corporation
• ThyssenKrupp AG
• JFE Steel Corporation
• ArcelorMittal
• Cogent Power Limited
• Aperam
• Baosteel Group Corporation
• AK Steel Corporation
• ATI
• Schneider Electric
• Nicore Electrical Manufactory Co., Ltd

“*” marked represents similar segmentation in other categories in the respective section