Asia-Pacific Electrical Steel Market is Expected to Grow at 8.1% in the Forecast Period of 2020 to 2027

The electrical steel industry will relinquish an approximated estimate at a frequency of 8.1% for the projection space of 2020 to 2027 with factors such as increasing demand of steel sheet in motors of hybrid/electrical vehicles in various regions.

Electrical steel market has shown an exceptional penetration in countries such as China, India and Japan. The modest improvements in offices using electrical steel in developed countries are increasing the demand for electrical steel. In developing countries, strong distribution network including multi-brand stores and online retailers is creating opportunity for the Asia-Pacific electrical steel market.

Asia-Pacific Electrical Steel Market Scenario

According to Data Bridge Market Research, the market for electrical steel in China country has the highest market share followed by India and Japan. Market leader is SAIL which accounts an estimated market share of approximately 15% to 18% in the Asia-Pacific electrical steel market. The company has gained outstanding sales through their industrial products for electrical steel.

  • In July 2019, SAIL company has launched a new alloy named as R 260 grade which is used in the Indian railway. This development helped the company to increase product portfolio and revenue in the near future.

Asia-Pacific Electrical Steel MarketTrends Impacting the Electrical Steel Market

Now the question is which are the other regions that SAIL, POSCO and ChinaSteel are targeting? Data Bridge Market Research has forecasted a large growth in China electrical steel market and the market leaders targeting Japan and India to be their next revenue pockets for 2020.

The electrical steel market is becoming more competitive every year with companies such as SAIL, POSCO and ChinaSteel as they are the market leaders for electrical steel. The Data Bridge Market Research new reports highlight the major growth factors and opportunities in the electrical steel market.

For more analysis on the electrical steel market request for a briefing with our analysts

Electrical Steel Market Development

  • In November 2019, JFE Steel Corporation (a subsidiary of JFE Holdings, Inc.) and Guangdong Shaoguan Iron and Steel Songshan have done the joint venture for the production of Specialty Bar Steel in China. This development helped the company to increase its revenue in the near future.

Scope of the Electrical Steel Market

Asia-Pacific electrical steel market is segmented on the basis of countries into Japan, China, South Korea, India, Australia and New Zealand, Taiwan, Hong-Kong, Singapore, Thailand, Malaysia, Indonesia, Philippines and rest of Asia-Pacific.

  • All country based analysis of electrical steel market is further analyzed based on further segmentation. On the basis of type, the electrical steel market is segmented into grain oriented steel (CGRO), and non-oriented electrical steel (CRNGO). On the basis of thickness, the electrical steel market is segmented into 0.23 mm, 0.27 mm, 0.30 mm, 0.35 mm, 0.5 mm, 0.65 mm, and others. On the basis of core losses, the electrical steel market is segmented into less than 0.9 w/kg, 0.90 w/kg to 0.99 w/kg, 1.00 w/kg to 1.29 w/kg, 1.30 w/kg to 1.39 w/kg and above1.39 w/kg. On the basis of flux density, the electrical steel market is segmented into less than 1.65 tesla, 1.65 tesla to 1.69 tesla, 1.69 tesla to 1.73 tesla, 1.73 tesla to 1.76 tesla and above 1.76 tesla. On the basis of application, the electrical steel market is segmented into transformers, inductors, battery, shunt reactors, convertors, motors, electrical ballasts, power generators, wound cores, and others. On the basis of end-user, the electrical steel market is segmented into energy and power, household appliances, automobiles, building and construction, and others.

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Key Pointers Covered in Electrical Steel Market Industry Trends and Forecast to 2027

  • Market Size
  • Market Standards and Changes
  • Market Trials in Different Regions
  • Market Requirements in Different Regions
  • Market Shares in Different Regions
  • Recent Developments for Market Competitors
  • Recent Market Value for Different Regions
  • Sales Data for Market Competitors
  • Market Key Vendors and Disruptors Study
  • Market Supply Chain Competiveness

Key Market Competitors Covered in the Report

  • SAIL
  • ChinaSteel
  • JFE Steel Corporation (a subsidiary of JFE Holdings, Inc.)
  • Hebei Puyang Iron and Steel Group
  • Electrosteel Steels Ltd. (a subsidiary of Vedanta Resources Limited)
  • voestalpine AG
  • ArcelorMittal
  • Tata Steel
  • Hesteel Group Tangsteel Company
  • thyssenkrupp AG
  • ATI
  • Aperam
  • Baosteel Group Hu

Above are the key players covered in the report, to know about more and exhaustive list of electrical steel companies’, contact us

Research Methodology: Asia-Pacific Electrical Steel Market

Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your enquiry.

The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include vendor positioning grid, market time line analysis, market overview and guide, company positioning grid, company market share analysis, standards of measurement, top to bottom analysis and vendor share analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.

Primary Respondents

  • Demand Side: Energy and Power Industry, Construction Industry and Automotive Industry
  • Supply Side: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, and Regulatory Affairs Managers among others.

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