Global Electrical Steels Market Growth 2024-2030
The global Electrical Steels market size was valued at US$ 25,560 million in 2023. With growing demand in downstream markets, electrical steels are essential for efficient power tr
- Bonafide Trust
- 31-05-2024
- Pages : 83
- Figures : 83
- Tables : 177
- Region : Global
- Category : Chemical & Material
- Metal & Mineral
According to our publisher’s latest study, the global Electrical Steels market size was valued at US$ 25560 million in 2023. With growing demand in downstream market, the Electrical Steels is forecast to a readjusted size of US$ 29940 million by 2030 with a CAGR of 2.3% during review period. The research report highlights the growth potential of the global Electrical Steels market. Electrical Steels are expected to show stable growth in the future market. However, product differentiation, reducing costs, and supply chain optimization remain crucial for the widespread adoption of Electrical Steels. Market players need to invest in research and development, forge strategic partnerships, and align their offerings with evolving consumer preferences to capitalize on the immense opportunities presented by the Electrical Steels market. Electrical steel is an alloy that contains iron and silicon. It can be manufactured by modifying the magnetic properties of steel for efficient magnetism and electricity conversion. Also called silicon steel, lamination steel, relay steel or transformer steel, this type of steel is very often used to build the cores of transformers as well as the stators of generators and motors. An electrical steel sheet is a functional material used as an iron core material for electrical equipment. There are two types of electrical steel sheet: grain-oriented electrical steel sheet and non-oriented electrical steel sheet, and they are used for different applications. In this report we researched the two types of steel sheet respectively. Market competition is JFE Steel, NLMK Group, Posco, NSSMC, ThyssenKrupp, AK Steel, Nucor, Voestalpine, TATA Steel, ArcelorMittal, CSC, WISCO, Baosteel, Ansteel, Shougang, Benxi Steel, TISCO, Masteel, Stalprodukt S.A., ATI, are the leaders of the industry, and they hold key technologies and patents, with high-end customers. The global electrical Steel market is dominated by Baowu, ArcelorMittal, JFE Steel, Shougang, NSMC, NLMK Group, etc. The top six manufacturers account for about 55% of the market share. China is the largest market for electrical steel with a market share of about 50%, followed by Europe with a market share of about 20%. Key Features: The report on Electrical Steels market reflects various aspects and provide valuable insights into the industry. Market Size and Growth: The research report provide an overview of the current size and growth of the Electrical Steels market. It may include historical data, market segmentation by Type (e.g., Oriented Electrical Steels, Non-Oriented Electrical Steels), and regional breakdowns. Market Drivers and Challenges: The report can identify and analyse the factors driving the growth of the Electrical Steels market, such as government regulations, environmental concerns, technological advancements, and changing consumer preferences. It can also highlight the challenges faced by the industry, including infrastructure limitations, range anxiety, and high upfront costs. Rising energy demand from developing economies: The increasing demand for electricity in developing economies is driving the growth of the electrical steel market. Growing demand for renewable energy: The increasing adoption of renewable energy sources such as wind and solar power is driving the demand for electrical steel in the production of transformers and generators. Increasing demand for electric vehicles: The growing demand for electric vehicles is driving the demand for electrical steel in the production of electric motors. Growing demand for industrial automation: The increasing demand for industrial automation is driving the demand for electrical steel in the production of motors and generators. Increasing demand for power transmission and distribution equipment: The increasing demand for power transmission and distribution equipment is driving the demand for electrical steel in the production of transformers and transmission lines. Market Challenges: Fluctuating raw material prices: The fluctuating prices of raw materials such as iron ore and coal are affecting the cost of production of electrical steel. Stringent environmental regulations: The increasing environmental regulations and standards are driving up the cost of production and increasing the complexity of the manufacturing process. Competition from alternative materials: The increasing competition from alternative materials such as aluminum and copper is affecting the demand for electrical steel. High capital costs: The high capital costs associated with the production of electrical steel are affecting the profitability of the industry. Global economic uncertainty: The global economic uncertainty and trade tensions are affecting the demand for electrical steel and the overall performance of the industry. Competitive Landscape: The research report provides analysis of the competitive landscape within the Electrical Steels market. It includes profiles of key players, their market share, strategies, and product offerings. The report can also highlight emerging players and their potential impact on the market. Technological Developments: The research report can delve into the latest technological developments in the Electrical Steels industry. This include advancements in Electrical Steels technology, Electrical Steels new entrants, Electrical Steels new investment, and other innovations that are shaping the future of Electrical Steels. The global Electrical Steels market is witnessing significant technological advancements, driven by the increasing demand for high-performance electrical steels in various applications. Some of the key technological developments in the Electrical Steels market include: Automation in Steel Processing: Major companies operating in the special steel industry are focused on developing innovative technologies such as automation in steel processing to strengthen their position in the special steel market. Automation in steel processing enhances productivity, quality, and efficiency in the production of special steel, contributing to the competitiveness and sustainability of the special steel market. Development of New Materials: Innovative products and technologies are gaining great popularity in the tool steel market. The key players operating in the tool steel market are focusing on developing innovative tools with advanced materials to meet the industry’s demands and expand their business presence. Technological Advancements: With the rapid pace of technological progress in recent years, technological advancement is a trend that is expected to continue in the future. These advancements can lead to increased efficiency and productivity, as well as new and improved products and services. Major companies operating in the tool steel market are focused on developing new technological solutions to strengthen their position in the market. Increased Use of Electric Arc Furnaces: Electric arc furnaces are being increasingly used in the production of electrical steels, as they offer several advantages such as energy efficiency, reduced environmental impact, and improved product quality. Development of High-Frequency Electrical Steels: Demand for extremely thin electrical steel strips for high-frequency applications is also witnessing an increase owing to technological advancements, in turn, anchoring the consumption behavior and fueling market growth. Investment in Research and Development: Players in the market are investing their resources in research, development, and innovation to develop products that comply with the safety norms of local markets, which is likely to provide unexploited opportunities and aid manufacturers enhance their market share. Downstream Procumbent Preference: The report can shed light on customer procumbent behaviour and adoption trends in the Electrical Steels market. It includes factors influencing customer ' purchasing decisions, preferences for Electrical Steels product. Government Policies and Incentives: The research report analyse the impact of government policies and incentives on the Electrical Steels market. This may include an assessment of regulatory frameworks, subsidies, tax incentives, and other measures aimed at promoting Electrical Steels market. The report also evaluates the effectiveness of these policies in driving market growth. Environmental Impact and Sustainability: The research report assess the environmental impact and sustainability aspects of the Electrical Steels market. Market Forecasts and Future Outlook: Based on the analysis conducted, the research report provide market forecasts and outlook for the Electrical Steels industry. This includes projections of market size, growth rates, regional trends, and predictions on technological advancements and policy developments. Recommendations and Opportunities: The report conclude with recommendations for industry stakeholders, policymakers, and investors. It highlights potential opportunities for market players to capitalize on emerging trends, overcome challenges, and contribute to the growth and development of the Electrical Steels market. Recommendations: Invest in Grain-oriented Electrical Steel: With a market share of 51.7% in 2023, grain-oriented electrical steel is expected to continue dominating the market. Investing in this segment could provide a significant return on investment. Focus on Energy-Efficient Transformers and Power Generators: The demand for grain-oriented electrical steel in energy-efficient transformers and power generators is driving the sales. Companies should focus on developing products that cater to this demand. Develop Lightweight and High-Performance Electrical Steel: The growing demand for electric vehicles and the need for lightweight and high-performance electrical steel could create new opportunities for companies that can develop such products. Explore New Applications: The electrical steel market is expected to grow significantly in the coming years. Companies should explore new applications and opportunities in industries such as renewable energy, aerospace, and medical devices. Opportunities: Growing Demand from Electric Vehicles: The growing demand for electric vehicles is expected to drive the growth of the electrical steel market. Companies that can develop products that cater to this demand could benefit significantly. Increasing Focus on Energy Efficiency: The increasing focus on energy efficiency and sustainability could drive the demand for electrical steel in energy-efficient transformers and power generators. Growing Demand from Emerging Markets: Emerging markets such as Asia, particularly China, India, and Vietnam, are expected to drive the growth of the electrical steel market. Companies that can establish a strong presence in these markets could benefit significantly. Advancements in Electrical Steel Production Techniques: Advancements in electrical steel production techniques could lead to the development of new products and applications, creating new opportunities for companies in the industry. Market Segmentation: Electrical Steels market is split by Type and by Application. For the period 2019-2030, the growth among segments provides accurate calculations and forecasts for consumption value by Type, and by Application in terms of volume and value. Segmentation by type Oriented Electrical Steels Non-Oriented Electrical Steels Segmentation by application Transformer Power Generator Electric Motor Others This report also splits the market by region: Americas United States Canada Mexico Brazil APAC China Japan Korea Southeast Asia India Australia Europe Germany France UK Italy Russia Middle East & Africa Egypt South Africa Israel Turkey GCC Countries The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration. Baowu Group AK Steel Ansteel ArcelorMittal Benxi Iron & Steel (Group) CSC JFE Steel Nippon Steel Corporation NLMK Group Posco Shougang Group Stalprodukt S.A. TATA Steel ThyssenKrupp TISCO Voestalpine Masteel APERAM Nucor ATI Metals Key Questions Addressed in this Report What is the 10-year outlook for the global Electrical Steels market? What factors are driving Electrical Steels market growth, globally and by region? Which technologies are poised for the fastest growth by market and region? How do Electrical Steels market opportunities vary by end market size? How does Electrical Steels break out type, application?
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Table of Contents
- 1 Scope of the Report
- 1.1 Market Introduction
- 1.2 Years Considered
- 1.3 Research Objectives
- 1.4 Market Research Methodology
- 1.5 Research Process and Data Source
- 1.6 Economic Indicators
- 1.7 Currency Considered
- 1.8 Market Estimation Caveats
- 2 Executive Summary
- 2.1 World Market Overview
- 2.1.1 Global Electrical Steels Annual Sales 2019-2030
- 2.1.2 World Current & Future Analysis for Electrical Steels by Geographic Region, 2019, 2023 & 2030
- 2.1.3 World Current & Future Analysis for Electrical Steels by Country/Region, 2019, 2023 & 2030
- 2.2 Electrical Steels Segment by Type
- 2.2.1 Oriented Electrical Steels
- 2.2.2 Non-Oriented Electrical Steels
- 2.3 Electrical Steels Sales by Type
- 2.3.1 Global Electrical Steels Sales Market Share by Type (2019-2024)
- 2.3.2 Global Electrical Steels Revenue and Market Share by Type (2019-2024)
- 2.3.3 Global Electrical Steels Sale Price by Type (2019-2024)
- 2.4 Electrical Steels Segment by Application
- 2.4.1 Transformer
- 2.4.2 Power Generator
- 2.4.3 Electric Motor
- 2.4.4 Others
- 2.5 Electrical Steels Sales by Application
- 2.5.1 Global Electrical Steels Sale Market Share by Application (2019-2024)
- 2.5.2 Global Electrical Steels Revenue and Market Share by Application (2019-2024)
- 2.5.3 Global Electrical Steels Sale Price by Application (2019-2024)
- 3 Global Electrical Steels by Company
- 3.1 Global Electrical Steels Breakdown Data by Company
- 3.1.1 Global Electrical Steels Annual Sales by Company (2019-2024)
- 3.1.2 Global Electrical Steels Sales Market Share by Company (2019-2024)
- 3.2 Global Electrical Steels Annual Revenue by Company (2019-2024)
- 3.2.1 Global Electrical Steels Revenue by Company (2019-2024)
- 3.2.2 Global Electrical Steels Revenue Market Share by Company (2019-2024)
- 3.3 Global Electrical Steels Sale Price by Company
- 3.4 Key Manufacturers Electrical Steels Producing Area Distribution, Sales Area, Product Type
- 3.4.1 Key Manufacturers Electrical Steels Product Location Distribution
- 3.4.2 Players Electrical Steels Products Offered
- 3.5 Market Concentration Rate Analysis
- 3.5.1 Competition Landscape Analysis
- 3.5.2 Concentration Ratio (CR3, CR5 and CR10) & (2019-2024)
- 3.6 New Products and Potential Entrants
- 3.7 Mergers & Acquisitions, Expansion
- 4 World Historic Review for Electrical Steels by Geographic Region
- 4.1 World Historic Electrical Steels Market Size by Geographic Region (2019-2024)
- 4.1.1 Global Electrical Steels Annual Sales by Geographic Region (2019-2024)
- 4.1.2 Global Electrical Steels Annual Revenue by Geographic Region (2019-2024)
- 4.2 World Historic Electrical Steels Market Size by Country/Region (2019-2024)
- 4.2.1 Global Electrical Steels Annual Sales by Country/Region (2019-2024)
- 4.2.2 Global Electrical Steels Annual Revenue by Country/Region (2019-2024)
- 4.3 Americas Electrical Steels Sales Growth
- 4.4 APAC Electrical Steels Sales Growth
- 4.5 Europe Electrical Steels Sales Growth
- 4.6 Middle East & Africa Electrical Steels Sales Growth
- 5 Americas
- 5.1 Americas Electrical Steels Sales by Country
- 5.1.1 Americas Electrical Steels Sales by Country (2019-2024)
- 5.1.2 Americas Electrical Steels Revenue by Country (2019-2024)
- 5.2 Americas Electrical Steels Sales by Type
- 5.3 Americas Electrical Steels Sales by Application
- 5.4 United States
- 5.5 Canada
- 5.6 Mexico
- 5.7 Brazil
- 6 APAC
- 6.1 APAC Electrical Steels Sales by Region
- 6.1.1 APAC Electrical Steels Sales by Region (2019-2024)
- 6.1.2 APAC Electrical Steels Revenue by Region (2019-2024)
- 6.2 APAC Electrical Steels Sales by Type
- 6.3 APAC Electrical Steels Sales by Application
- 6.4 China
- 6.5 Japan
- 6.6 South Korea
- 6.7 Southeast Asia
- 6.8 India
- 6.9 Australia
- 6.10 China Taiwan
- 7 Europe
- 7.1 Europe Electrical Steels by Country
- 7.1.1 Europe Electrical Steels Sales by Country (2019-2024)
- 7.1.2 Europe Electrical Steels Revenue by Country (2019-2024)
- 7.2 Europe Electrical Steels Sales by Type
- 7.3 Europe Electrical Steels Sales by Application
- 7.4 Germany
- 7.5 France
- 7.6 UK
- 7.7 Italy
- 7.8 Russia
- 8 Middle East & Africa
- 8.1 Middle East & Africa Electrical Steels by Country
- 8.1.1 Middle East & Africa Electrical Steels Sales by Country (2019-2024)
- 8.1.2 Middle East & Africa Electrical Steels Revenue by Country (2019-2024)
- 8.2 Middle East & Africa Electrical Steels Sales by Type
- 8.3 Middle East & Africa Electrical Steels Sales by Application
- 8.4 Egypt
- 8.5 South Africa
- 8.6 Israel
- 8.7 Turkey
- 8.8 GCC Countries
- 9 Market Drivers, Challenges and Trends
- 9.1 Market Drivers & Growth Opportunities
- 9.2 Market Challenges & Risks
- 9.3 Industry Trends
- 10 Manufacturing Cost Structure Analysis
- 10.1 Raw Material and Suppliers
- 10.2 Manufacturing Cost Structure Analysis of Electrical Steels
- 10.3 Manufacturing Process Analysis of Electrical Steels
- 10.4 Industry Chain Structure of Electrical Steels
- 11 Marketing, Distributors and Customer
- 11.1 Sales Channel
- 11.1.1 Direct Channels
- 11.1.2 Indirect Channels
- 11.2 Electrical Steels Distributors
- 11.3 Electrical Steels Customer
- 12 World Forecast Review for Electrical Steels by Geographic Region
- 12.1 Global Electrical Steels Market Size Forecast by Region
- 12.1.1 Global Electrical Steels Forecast by Region (2025-2030)
- 12.1.2 Global Electrical Steels Annual Revenue Forecast by Region (2025-2030)
- 12.2 Americas Forecast by Country
- 12.3 APAC Forecast by Region
- 12.4 Europe Forecast by Country
- 12.5 Middle East & Africa Forecast by Country
- 12.6 Global Electrical Steels Forecast by Type
- 12.7 Global Electrical Steels Forecast by Application
- 13 Key Players Analysis
- 13.1 Baowu Group
- 13.1.1 Baowu Group Company Information
- 13.1.2 Baowu Group Electrical Steels Product Portfolios and Specifications
- 13.1.3 Baowu Group Electrical Steels Sales, Revenue, Price and Gross Margin (2019-2024)
- 13.1.4 Baowu Group Main Business Overview
- 13.1.5 Baowu Group Latest Developments
- 13.2 AK Steel
- 13.2.1 AK Steel Company Information
- 13.2.2 AK Steel Electrical Steels Product Portfolios and Specifications
- 13.2.3 AK Steel Electrical Steels Sales, Revenue, Price and Gross Margin (2019-2024)
- 13.2.4 AK Steel Main Business Overview
- 13.2.5 AK Steel Latest Developments
- 13.3 Ansteel
- 13.3.1 Ansteel Company Information
- 13.3.2 Ansteel Electrical Steels Product Portfolios and Specifications
- 13.3.3 Ansteel Electrical Steels Sales, Revenue, Price and Gross Margin (2019-2024)
- 13.3.4 Ansteel Main Business Overview
- 13.3.5 Ansteel Latest Developments
- 13.4 ArcelorMittal
- 13.4.1 ArcelorMittal Company Information
- 13.4.2 ArcelorMittal Electrical Steels Product Portfolios and Specifications
- 13.4.3 ArcelorMittal Electrical Steels Sales, Revenue, Price and Gross Margin (2019-2024)
- 13.4.4 ArcelorMittal Main Business Overview
- 13.4.5 ArcelorMittal Latest Developments
- 13.5 Benxi Iron & Steel (Group)
- 13.5.1 Benxi Iron & Steel (Group) Company Information
- 13.5.2 Benxi Iron & Steel (Group) Electrical Steels Product Portfolios and Specifications
- 13.5.3 Benxi Iron & Steel (Group) Electrical Steels Sales, Revenue, Price and Gross Margin (2019-2024)
- 13.5.4 Benxi Iron & Steel (Group) Main Business Overview
- 13.5.5 Benxi Iron & Steel (Group) Latest Developments
- 13.6 CSC
- 13.6.1 CSC Company Information
- 13.6.2 CSC Electrical Steels Product Portfolios and Specifications
- 13.6.3 CSC Electrical Steels Sales, Revenue, Price and Gross Margin (2019-2024)
- 13.6.4 CSC Main Business Overview
- 13.6.5 CSC Latest Developments
- 13.7 JFE Steel
- 13.7.1 JFE Steel Company Information
- 13.7.2 JFE Steel Electrical Steels Product Portfolios and Specifications
- 13.7.3 JFE Steel Electrical Steels Sales, Revenue, Price and Gross Margin (2019-2024)
- 13.7.4 JFE Steel Main Business Overview
- 13.7.5 JFE Steel Latest Developments
- 13.8 Nippon Steel Corporation
- 13.8.1 Nippon Steel Corporation Company Information
- 13.8.2 Nippon Steel Corporation Electrical Steels Product Portfolios and Specifications
- 13.8.3 Nippon Steel Corporation Electrical Steels Sales, Revenue, Price and Gross Margin (2019-2024)
- 13.8.4 Nippon Steel Corporation Main Business Overview
- 13.8.5 Nippon Steel Corporation Latest Developments
- 13.9 NLMK Group
- 13.9.1 NLMK Group Company Information
- 13.9.2 NLMK Group Electrical Steels Product Portfolios and Specifications
- 13.9.3 NLMK Group Electrical Steels Sales, Revenue, Price and Gross Margin (2019-2024)
- 13.9.4 NLMK Group Main Business Overview
- 13.9.5 NLMK Group Latest Developments
- 13.10 Posco
- 13.10.1 Posco Company Information
- 13.10.2 Posco Electrical Steels Product Portfolios and Specifications
- 13.10.3 Posco Electrical Steels Sales, Revenue, Price and Gross Margin (2019-2024)
- 13.10.4 Posco Main Business Overview
- 13.10.5 Posco Latest Developments
- 13.11 Shougang Group
- 13.11.1 Shougang Group Company Information
- 13.11.2 Shougang Group Electrical Steels Product Portfolios and Specifications
- 13.11.3 Shougang Group Electrical Steels Sales, Revenue, Price and Gross Margin (2019-2024)
- 13.11.4 Shougang Group Main Business Overview
- 13.11.5 Shougang Group Latest Developments
- 13.12 Stalprodukt S.A.
- 13.12.1 Stalprodukt S.A. Company Information
- 13.12.2 Stalprodukt S.A. Electrical Steels Product Portfolios and Specifications
- 13.12.3 Stalprodukt S.A. Electrical Steels Sales, Revenue, Price and Gross Margin (2019-2024)
- 13.12.4 Stalprodukt S.A. Main Business Overview
- 13.12.5 Stalprodukt S.A. Latest Developments
- 13.13 TATA Steel
- 13.13.1 TATA Steel Company Information
- 13.13.2 TATA Steel Electrical Steels Product Portfolios and Specifications
- 13.13.3 TATA Steel Electrical Steels Sales, Revenue, Price and Gross Margin (2019-2024)
- 13.13.4 TATA Steel Main Business Overview
- 13.13.5 TATA Steel Latest Developments
- 13.14 ThyssenKrupp
- 13.14.1 ThyssenKrupp Company Information
- 13.14.2 ThyssenKrupp Electrical Steels Product Portfolios and Specifications
- 13.14.3 ThyssenKrupp Electrical Steels Sales, Revenue, Price and Gross Margin (2019-2024)
- 13.14.4 ThyssenKrupp Main Business Overview
- 13.14.5 ThyssenKrupp Latest Developments
- 13.15 TISCO
- 13.15.1 TISCO Company Information
- 13.15.2 TISCO Electrical Steels Product Portfolios and Specifications
- 13.15.3 TISCO Electrical Steels Sales, Revenue, Price and Gross Margin (2019-2024)
- 13.15.4 TISCO Main Business Overview
- 13.15.5 TISCO Latest Developments
- 13.16 Voestalpine
- 13.16.1 Voestalpine Company Information
- 13.16.2 Voestalpine Electrical Steels Product Portfolios and Specifications
- 13.16.3 Voestalpine Electrical Steels Sales, Revenue, Price and Gross Margin (2019-2024)
- 13.16.4 Voestalpine Main Business Overview
- 13.16.5 Voestalpine Latest Developments
- 13.17 Masteel
- 13.17.1 Masteel Company Information
- 13.17.2 Masteel Electrical Steels Product Portfolios and Specifications
- 13.17.3 Masteel Electrical Steels Sales, Revenue, Price and Gross Margin (2019-2024)
- 13.17.4 Masteel Main Business Overview
- 13.17.5 Masteel Latest Developments
- 13.18 APERAM
- 13.18.1 APERAM Company Information
- 13.18.2 APERAM Electrical Steels Product Portfolios and Specifications
- 13.18.3 APERAM Electrical Steels Sales, Revenue, Price and Gross Margin (2019-2024)
- 13.18.4 APERAM Main Business Overview
- 13.18.5 APERAM Latest Developments
- 13.19 Nucor
- 13.19.1 Nucor Company Information
- 13.19.2 Nucor Electrical Steels Product Portfolios and Specifications
- 13.19.3 Nucor Electrical Steels Sales, Revenue, Price and Gross Margin (2019-2024)
- 13.19.4 Nucor Main Business Overview
- 13.19.5 Nucor Latest Developments
- 13.20 ATI Metals
- 13.20.1 ATI Metals Company Information
- 13.20.2 ATI Metals Electrical Steels Product Portfolios and Specifications
- 13.20.3 ATI Metals Electrical Steels Sales, Revenue, Price and Gross Margin (2019-2024)
- 13.20.4 ATI Metals Main Business Overview
- 13.20.5 ATI Metals Latest Developments
- 14 Research Findings and Conclusion
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