Global Electrical Steel Market is Expected to Grow at 7.5% in the Forecast Period of 2020 to 2027

Global Electrical Steel Market is growing at 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, Russia and Mexico. Modest improvements in offices using electrical steel in developed countries increasing the demand for electrical steel. In developing countries, strong distribution network including multi-brand stores and online retailers is creating opportunity for the global electrical steel market.

Electrical Steel Market Scenario

According to Data Bridge Market Research the market for electrical steel in Asia-Pacific region has the highest market share followed by Europe and North America. Market leader is ArcelorMittal which accounts an estimated market share of approximately 10% to 14% in the global electrical steel market. The company has gained outstanding sale through their industrial product which is protection solutions. ArcelorMittal has decided to launch the new group website for the business to go digital. This development has helped the company to increase the customer base and revenue.

For instance,

  • in 2017, ArcelorMittal and Nippon Steel have acquired Essar Steel for USD 5.7 billion. This development has helped the company to increase the customer base and revenue.    

Electrical Steel MarketTrends Impacting the Market

Now the question is which are the other regions that ArcelorMittal, Tata Steel and SAIL are targeting? Data Bridge Market Research has forecasted a large growth in the Asia-Pacific electrical steel market and the market leaders are 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 ArcelorMittal, Tata Steel and SAIL 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.

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Electrical Steel Market Developments

  • In June 2020, Tata Steel and Tata Steel Europe have been recognized as steel sustainability champions for the year from the past three years. This development helps the company to increase goodwill in the global market.
  • In May 2020, Tata Steel has launched smart steel structures for building and construction market. This development will help the company to increase its revenue in the near future.

Scope of the Global Electrical Steel Market

Global electrical steel market is segmented on the basis of countries into the U.S., Canada, Mexico, Germany, U.K., Italy, France, Spain, Russia, Turkey, Switzerland, Belgium, Netherlands, Rest of Europe, Japan, China, South Korea, India, Australia and New Zealand, Singapore, Thailand, Hong-Kong, Taiwan, Indonesia, Malaysia, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, South Africa, Egypt, Saudi Arabia, U.A.E., Israel, Rest of Middle East and Africa.

  • All country based analysis of electrical steel market is further analyzed based on further segmentation. On the basis of type, the electrical steel market t is segmented into grain oriented steel (CGRO), 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.

To know more about the study

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
  • Key Vendors and Disruptors Study
  • Supply Chain Competiveness

Key Market Competitors Covered in the Report

  • Hesteel Group Tangsteel Company
  • ChinaSteel
  • JFE Steel Corporation (A Subsidiary of JFE Holdings, Inc.)
  • Baosteel Group Hu
  • thyssenkrupp AG
  • ArcelorMittal
  • United States Steel
  • voestalpine AG
  • Electrosteel Steels Ltd. (A Subsidiary of Vedanta Resources Limited)
  • Tata Steel
  • Union Electric Steel Corporation (A Subsidiary of Ampco Pittsburgh Corporation.)
  • Hebei Puyang Iron and Steel Group
  • ATI
  • SAIL
  • Aperam
  • Cogent Power Limited and Sko-Die Inc.

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

Research Methodology: Global 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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