Global Grain-Oriented Electrical Steel Market - 2022-2029
Description
Global Grain-Oriented Electrical Steel Market - 2022-2029
Market Overview
The global grain-oriented electrical steel market size was worth US$ XX Million in 2021 and is estimated to reach US$ XX million by 2029, growing at a CAGR of XX% during the forecast period (2022-2029).
Grain-oriented and non-grain-oriented electrical steel are two forms of electrical steel utilized for various applications. An alloy containing silicon and iron is known as electrical steel. It can be made by changing the magnetic characteristics of steel for efficient magnetism and electricity conversion. It is also known as silicon steel, lamination steel, relay steel, or transformer steel. It is commonly used to construct the cores of transformers and the stators of generators and motors.
Grain-orientated electrical steels are iron-silicon magnetic alloys. Because of their unique magnetic properties, these alloys are utilized to make the cores of high-efficiency electric transformers. Electrical steel with a grain orientation makes energy-efficient transformers and huge, high-performance generators. It is an important core material of distribution transformers, power transformers and miniature transformers in laminated, wrapped or punched sheets.
Market Dynamics
The growing application of electrical steel in transformers and motors, particularly in electric and hybrid vehicles, is expected to drive the market. However, fluctuating raw materials prices are expected to hinder the market.
The growing application of electrical steel in transformers and motors, particularly in electric and hybrid vehicles, is expected to drive the market
The rising global automobile manufacturing is a primary driver of expanding the electrical steel market. The utilization of electrical steel in automotive enhances fuel efficiency, resulting in improved demand for electrical steel in the industry. Due to its low saturation flux density and magnetic permeability, traditional non-grain-oriented silicon steel cannot meet the high power density and torque density requirements for EV traction motors. As a result, grain-oriented electronic steel is a viable alternative for applications. The surging demand for hybrid vehicles and electric vehicles (EVs) is expected to fuel the expansion of the electrical steel market over the forecast period.
Moreover, the expansion of electrical steel in motors is fueled by increasing industrialization and the applications of motors in the residential sector. Electrical steel has become a vital component of electric motors because it delivers a greater magnetic flux, critical for torque. Additionally, it leads to increased efficiency. Further, businesses in the electrical steel market will greatly gain income, given that the United Nations' sustainable development program calls for increased industry in the future year.
Fluctuating raw materials prices
The steel industry relies on raw materials to create and process steel products. Iron ore, coal, industrial gases and ferroalloys are important raw resources for steel manufacture. Steel production and processing can run smoothly if raw materials are fairly priced.
On the other hand, raw material prices are extremely changeable. Increases in raw material prices impact steel manufacturing costs, resulting in higher pricing for finished steel products like grain-oriented and non-grain-oriented electrical steel. For instance, the business war between China-U.S and Russia–Saudi Arabia oil price war significantly impacted oil prices in 2020. The factors result in steel price volatility.
COVID-19 Impact Analysis
According to Worldsteel's April 2021 Short Range Outlook report, steel demand in 2020 is expected to improve compared to October 2020 for both developed and emerging economies. Despite a positive global statistic, steel demand in many nations fell by double digits in 2020. Due to stronger containment measures, plummeting raw material prices, tourism breakdowns and insufficient fiscal support, emerging economies were particularly vulnerable to the epidemic.
Both developed and emerging economies are predicted to rebound well in 2021. Steel consumption is predicted to recover more quickly in developing economies than in developed economies, returning to pre-pandemic levels in 2021. It will most likely take longer in developed economies. With some growth moderation, a steady recovery is predicted to last through 2022.
Segment Analysis
The global grain-oriented electrical steel market is segmented into transformers, motors, inductors and others based on application.
The application grade-oriented electrical steel in transformers is projected to lead the market. The segment's growth attributes to the growing energy consumption in developed and developing economies. Transformer cores are an essential part of the transformer, which comprises laminations of electric steel. The three main types of transformers are current, power and distribution transformers.
Grain-oriented electrical steel is a significant material in producing energy-efficient transformers and large, high-performance generators. It is the essential core material for almost all laminated, wound or punched sheets transformers. ThyssenKrupp Steel Europe developed power core grain-oriented electrical steel in a permanent process for different transformers, including large power transformers, distribution transformers, small transformers and current transformers.
Geographical Analysis
The global grain-oriented electrical steel market is segmented into North America, Europe, South America, Asia-Pacific and Middle East & Africa based on geography.
Asia-Pacific's growth attributes to various global steelmakers such as ArcelorMittal, Tata Steel, Nippon Steel & Sumitomo Metal Corporation and POSCO Steel. The availability of raw labor and materials at a low cost in the region are added advantages. In addition, the rapidly increasing urbanization are other factors expected to fuel the market's growth.
For instance, in May 2021, JSW Steel and JFE Steel Corporation signed a feasibility study to develop a grain-oriented electrical steel sheet manufacturing and sales joint venture in India. The plan is to finish the study this fiscal year and take the necessary measures to form this joint venture business, pending the necessary permissions.
Moreover, perforce, the Indian manufacturing industry needs to migrate from mediocre to superior materials in response to the emerging demand for high-quality products. For instance, in November 2021, the government of India nudged the leading steel producers such as JSW Steel, Tata Steel, JSPL and Steel Authority of India Limited (SAIL) to employ technologies facilities to make steels of import substitution kind.
Competitive Landscape
The global grain-oriented electrical steel market is moderately competitive with several established steel-producing companies, resulting in high investment. In addition, major players contributing to the market's growth are Nippon Steel & Sumitomo Metal Corporation (NSSMC), Baowu Group, Thyssenkrupp Steel Europe, Arnold Magnetic Technologies, AK Steel, NLMK Group, JFE Steel, Posco, ArcelorMittal, Cogent (Tata Steel) and others. Moreover, the companies are adopting growth strategies such as expansions, acquisitions, product launches and collaborations, contributing to the market growth globally.
Arnold Magnetic Technologies
Overview: Arnold Magnetic Technologies is a U.S.-based global manufacturer of high-performance permanent magnets, electromagnets, magnetic assemblies, flexible composites and precision thin metal foils. It is headquartered in New York, U.S. In addition, Arnold Magnetic Technologies has locations and representatives in UK, Switzerland and China.
Product Portfolio: Arnold Magnetic Technologies offers Grain-Oriented Electrical Steel processed under carefully controlled conditions. The company produces the steel from several silicon steel grades, including 3% silicon under the USA and DFARS compliance.
Key Development:
In March 2021, Arnold Magnetic Technologies acquired Ramco Electric Motors, Inc., manufacturer of stators, rotors and full electric motors. The company aims to expand an already diverse product offering with industry-leading electric motor solutions capabilities with the acquisition.
Why Purchase the Report?
Visualize the composition of the grain-oriented electrical steel market segmentation by thickness, form, silicon content, application, end-user and region, highlighting the key commercial assets and players.
Identify commercial opportunities in grain-oriented electrical steel market by analyzing trends and co-development deals.
Excel data sheet with thousands of grain-oriented electrical steel market points - level 4/5 segmentation.
PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
Product mapping in excel for the key product of all major market players
The global grain-oriented electrical steel market report would provide access to an approx. 77 market data tables, 75 figures and 180 pages.
Target Audience
Steel Manufacturers
Manufacturers of Electrical Steel
Automotive Companies
Power Sector
Traders, Distributors and Suppliers of Electrical Steel
World Steel Organization
Investment Research Firms
Market Overview
The global grain-oriented electrical steel market size was worth US$ XX Million in 2021 and is estimated to reach US$ XX million by 2029, growing at a CAGR of XX% during the forecast period (2022-2029).
Grain-oriented and non-grain-oriented electrical steel are two forms of electrical steel utilized for various applications. An alloy containing silicon and iron is known as electrical steel. It can be made by changing the magnetic characteristics of steel for efficient magnetism and electricity conversion. It is also known as silicon steel, lamination steel, relay steel, or transformer steel. It is commonly used to construct the cores of transformers and the stators of generators and motors.
Grain-orientated electrical steels are iron-silicon magnetic alloys. Because of their unique magnetic properties, these alloys are utilized to make the cores of high-efficiency electric transformers. Electrical steel with a grain orientation makes energy-efficient transformers and huge, high-performance generators. It is an important core material of distribution transformers, power transformers and miniature transformers in laminated, wrapped or punched sheets.
Market Dynamics
The growing application of electrical steel in transformers and motors, particularly in electric and hybrid vehicles, is expected to drive the market. However, fluctuating raw materials prices are expected to hinder the market.
The growing application of electrical steel in transformers and motors, particularly in electric and hybrid vehicles, is expected to drive the market
The rising global automobile manufacturing is a primary driver of expanding the electrical steel market. The utilization of electrical steel in automotive enhances fuel efficiency, resulting in improved demand for electrical steel in the industry. Due to its low saturation flux density and magnetic permeability, traditional non-grain-oriented silicon steel cannot meet the high power density and torque density requirements for EV traction motors. As a result, grain-oriented electronic steel is a viable alternative for applications. The surging demand for hybrid vehicles and electric vehicles (EVs) is expected to fuel the expansion of the electrical steel market over the forecast period.
Moreover, the expansion of electrical steel in motors is fueled by increasing industrialization and the applications of motors in the residential sector. Electrical steel has become a vital component of electric motors because it delivers a greater magnetic flux, critical for torque. Additionally, it leads to increased efficiency. Further, businesses in the electrical steel market will greatly gain income, given that the United Nations' sustainable development program calls for increased industry in the future year.
Fluctuating raw materials prices
The steel industry relies on raw materials to create and process steel products. Iron ore, coal, industrial gases and ferroalloys are important raw resources for steel manufacture. Steel production and processing can run smoothly if raw materials are fairly priced.
On the other hand, raw material prices are extremely changeable. Increases in raw material prices impact steel manufacturing costs, resulting in higher pricing for finished steel products like grain-oriented and non-grain-oriented electrical steel. For instance, the business war between China-U.S and Russia–Saudi Arabia oil price war significantly impacted oil prices in 2020. The factors result in steel price volatility.
COVID-19 Impact Analysis
According to Worldsteel's April 2021 Short Range Outlook report, steel demand in 2020 is expected to improve compared to October 2020 for both developed and emerging economies. Despite a positive global statistic, steel demand in many nations fell by double digits in 2020. Due to stronger containment measures, plummeting raw material prices, tourism breakdowns and insufficient fiscal support, emerging economies were particularly vulnerable to the epidemic.
Both developed and emerging economies are predicted to rebound well in 2021. Steel consumption is predicted to recover more quickly in developing economies than in developed economies, returning to pre-pandemic levels in 2021. It will most likely take longer in developed economies. With some growth moderation, a steady recovery is predicted to last through 2022.
Segment Analysis
The global grain-oriented electrical steel market is segmented into transformers, motors, inductors and others based on application.
The application grade-oriented electrical steel in transformers is projected to lead the market. The segment's growth attributes to the growing energy consumption in developed and developing economies. Transformer cores are an essential part of the transformer, which comprises laminations of electric steel. The three main types of transformers are current, power and distribution transformers.
Grain-oriented electrical steel is a significant material in producing energy-efficient transformers and large, high-performance generators. It is the essential core material for almost all laminated, wound or punched sheets transformers. ThyssenKrupp Steel Europe developed power core grain-oriented electrical steel in a permanent process for different transformers, including large power transformers, distribution transformers, small transformers and current transformers.
Geographical Analysis
The global grain-oriented electrical steel market is segmented into North America, Europe, South America, Asia-Pacific and Middle East & Africa based on geography.
Asia-Pacific's growth attributes to various global steelmakers such as ArcelorMittal, Tata Steel, Nippon Steel & Sumitomo Metal Corporation and POSCO Steel. The availability of raw labor and materials at a low cost in the region are added advantages. In addition, the rapidly increasing urbanization are other factors expected to fuel the market's growth.
For instance, in May 2021, JSW Steel and JFE Steel Corporation signed a feasibility study to develop a grain-oriented electrical steel sheet manufacturing and sales joint venture in India. The plan is to finish the study this fiscal year and take the necessary measures to form this joint venture business, pending the necessary permissions.
Moreover, perforce, the Indian manufacturing industry needs to migrate from mediocre to superior materials in response to the emerging demand for high-quality products. For instance, in November 2021, the government of India nudged the leading steel producers such as JSW Steel, Tata Steel, JSPL and Steel Authority of India Limited (SAIL) to employ technologies facilities to make steels of import substitution kind.
Competitive Landscape
The global grain-oriented electrical steel market is moderately competitive with several established steel-producing companies, resulting in high investment. In addition, major players contributing to the market's growth are Nippon Steel & Sumitomo Metal Corporation (NSSMC), Baowu Group, Thyssenkrupp Steel Europe, Arnold Magnetic Technologies, AK Steel, NLMK Group, JFE Steel, Posco, ArcelorMittal, Cogent (Tata Steel) and others. Moreover, the companies are adopting growth strategies such as expansions, acquisitions, product launches and collaborations, contributing to the market growth globally.
Arnold Magnetic Technologies
Overview: Arnold Magnetic Technologies is a U.S.-based global manufacturer of high-performance permanent magnets, electromagnets, magnetic assemblies, flexible composites and precision thin metal foils. It is headquartered in New York, U.S. In addition, Arnold Magnetic Technologies has locations and representatives in UK, Switzerland and China.
Product Portfolio: Arnold Magnetic Technologies offers Grain-Oriented Electrical Steel processed under carefully controlled conditions. The company produces the steel from several silicon steel grades, including 3% silicon under the USA and DFARS compliance.
Key Development:
In March 2021, Arnold Magnetic Technologies acquired Ramco Electric Motors, Inc., manufacturer of stators, rotors and full electric motors. The company aims to expand an already diverse product offering with industry-leading electric motor solutions capabilities with the acquisition.
Why Purchase the Report?
Visualize the composition of the grain-oriented electrical steel market segmentation by thickness, form, silicon content, application, end-user and region, highlighting the key commercial assets and players.
Identify commercial opportunities in grain-oriented electrical steel market by analyzing trends and co-development deals.
Excel data sheet with thousands of grain-oriented electrical steel market points - level 4/5 segmentation.
PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
Product mapping in excel for the key product of all major market players
The global grain-oriented electrical steel market report would provide access to an approx. 77 market data tables, 75 figures and 180 pages.
Target Audience
Steel Manufacturers
Manufacturers of Electrical Steel
Automotive Companies
Power Sector
Traders, Distributors and Suppliers of Electrical Steel
World Steel Organization
Investment Research Firms
Table of Contents
187 Pages
- 1. Global Grain-Oriented Electrical Steel Market Methodology and Scope
- 1.1. Research Methodology
- 1.2. Research Objective and Scope of the Report
- 2. Global Grain-Oriented Electrical Steel Market – Market Definition and Overview
- 3. Global Grain-Oriented Electrical Steel Market – Executive Summary
- 3.1. Market Snippet by Thickness
- 3.2. Market Snippet by Form
- 3.3. Market Snippet by Silicon Content
- 3.4. Market Snippet by Application
- 3.5. Market Snippet by End-User
- 3.6. Market Snippet by Region
- 4. Global Grain-Oriented Electrical Steel Market – Market Dynamics
- 4.1. Market Impacting Factors
- 4.1.1. Drivers
- 4.1.1.1. The growing application of electrical steel in transformers and motors, particularly in electric and hybrid vehicles
- 4.1.1.2. XX
- 4.1.2. Restraints
- 4.1.2.1. Fluctuating raw materials prices
- 4.1.2.2. XX
- 4.1.3. Opportunity
- 4.1.4. Impact Analysis
- 5. Global Grain-Oriented Electrical Steel Market – Industry Analysis
- 5.1. Porter's Five Forces Analysis
- 5.2. Supply Chain Analysis
- 5.3. Pricing Analysis
- 5.4. Regulatory Analysis
- 6. Global Grain-Oriented Electrical Steel Market – COVID-19 Analysis
- 6.1. Analysis of COVID-19 on the Market
- 6.1.1. Before COVID-19 Market Scenario
- 6.1.2. Present COVID-19 Market Scenario
- 6.1.3. After COVID-19 or Future Scenario
- 6.2. Pricing Dynamics Amid COVID-19
- 6.3. Demand-Supply Spectrum
- 6.4. Government Initiatives Related to the Market During Pandemic
- 6.5. Manufacturers Strategic Initiatives
- 6.6. Conclusion
- 7. Global Grain-Oriented Electrical Steel Market – By Thickness
- 7.1. Introduction
- 7.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Thickness
- 7.1.2. Market Attractiveness Index, By Thickness
- 7.2. 0.025-0.05 mm*
- 7.2.1. Introduction
- 7.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
- 7.3. 0.05-0.10 mm
- 7.4. 0.10-0.15 mm
- 7.5. More than 0.15 mm
- 8. Global Grain-Oriented Electrical Steel Market – By Form
- 8.1. Introduction
- 8.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Form
- 8.1.2. Market Attractiveness Index, By Form
- 8.2. Laminated Sheets*
- 8.2.1. Introduction
- 8.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
- 8.3. Wounds Sheets
- 8.4. Punched Sheets
- 9. Global Grain-Oriented Electrical Steel Market – By Silicon Content
- 9.1. Introduction
- 9.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Silicon Content
- 9.1.2. Market Attractiveness Index, By Silicon Content
- 9.2. Below 3%*
- 9.2.1. Introduction
- 9.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
- 9.3. 3 %
- 9.4. More than 3%
- 10. Global Grain-Oriented Electrical Steel Market – By Application
- 10.1. Introduction
- 10.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
- 10.1.2. Market Attractiveness Index By Application
- 10.2. Transformers*
- 10.2.1. Introduction
- 10.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
- 10.3. Motors
- 10.4. Inductors
- 10.5. Others
- 11. Global Grain-Oriented Electrical Steel Market – By End-User
- 11.1. Introduction
- 11.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-User
- 11.1.2. Market Attractiveness Index, By End-User
- 11.2. Energy*
- 11.2.1. Introduction
- 11.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
- 11.3. Automotive
- 11.4. Manufacturing
- 11.5. Household Appliances
- 11.6. Others
- 12. Global Grain-Oriented Electrical Steel Market – By Region
- 12.1. Introduction
- 12.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Region
- 12.1.2. Market Attractiveness Index, By Region
- 12.2. North America
- 12.2.1. Introduction
- 12.2.2. Key Region-Specific Dynamics
- 12.2.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Thickness
- 12.2.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Form
- 12.2.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Silicon Content
- 12.2.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
- 12.2.7. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-User
- 12.2.8. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
- 12.2.8.1. U.S.
- 12.2.8.2. Canada
- 12.2.8.3. Mexico
- 12.3. Europe
- 12.3.1. Introduction
- 12.3.2. Key Region-Specific Dynamics
- 12.3.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Thickness
- 12.3.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Form
- 12.3.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Silicon Content
- 12.3.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
- 12.3.7. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-User
- 12.3.8. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
- 12.3.8.1. Germany
- 12.3.8.2. UK
- 12.3.8.3. France
- 12.3.8.4. Italy
- 12.3.8.5. Spain
- 12.3.8.6. Rest of Europe
- 12.4. South America
- 12.4.1. Introduction
- 12.4.2. Key Region-Specific Dynamics
- 12.4.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Thickness
- 12.4.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Form
- 12.4.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Silicon Content
- 12.4.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
- 12.4.7. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-User
- 12.4.8. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
- 12.4.8.1. Brazil
- 12.4.8.2. Argentina
- 12.4.8.3. Rest of South America
- 12.5. Asia-Pacific
- 12.5.1. Introduction
- 12.5.2. Key Region-Specific Dynamics
- 12.5.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Thickness
- 12.5.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Form
- 12.5.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Silicon Content
- 12.5.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
- 12.5.7. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-User
- 12.5.8. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
- 12.5.8.1. China
- 12.5.8.2. India
- 12.5.8.3. Japan
- 12.5.8.4. Australia
- 12.5.8.5. Rest of Asia-Pacific
- 12.6. Middle East and Africa
- 12.6.1. Introduction
- 12.6.2. Key Region-Specific Dynamics
- 12.6.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Thickness
- 12.6.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Form
- 12.6.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Silicon Content
- 12.6.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
- 12.6.7. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-User
- 13. Global Grain-Oriented Electrical Steel Market – Competitive Landscape
- 13.1. Competitive Scenario
- 13.2. Market Positioning/Share Analysis
- 13.3. Mergers and Acquisitions Analysis
- 14. Global Grain-Oriented Electrical Steel Market- Company Profiles
- 14.1. Nippon Steel & Sumitomo Metal Corporation (NSSMC)*
- 14.1.1. Company Overview
- 14.1.2. Product Portfolio and Description
- 14.1.3. Key Highlights
- 14.1.4. Financial Overview
- 14.2. Baowu Group
- 14.3. Thyssenkrupp Steel Europe
- 14.4. Arnold Magnetic Technologies
- 14.5. AK Steel
- 14.6. NLMK Group
- 14.7. JFE Steel
- 14.8. Posco
- 14.9. ArcelorMittal
- 14.10. Cogent (Tata Steel)
- LIST NOT EXHAUSTIVE
- 15. Global Grain-Oriented Electrical Steel Market – Premium Insights
- 16. Global Grain-Oriented Electrical Steel Market – DataM
- 16.1. Appendix
- 16.2. About Us and Services
- 16.3. Contact Us
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