The global electrical steel market is a dynamic sector integral to various industries, primarily the power and energy sectors. Electrical steel, also known as silicon steel or transformer steel, possesses unique magnetic properties crucial for the efficient functioning of electrical equipment. It is widely used in transformers, electric motors, and generators. As the world continues to prioritize clean energy solutions, the electrical steel market plays a pivotal role in shaping the future of efficient and sustainable electrical systems.
Access full Report @ https://www.databridgemarketresearch.com/reports/global-electrical-steel-market
Data Bridge Market Research analyses that the Global Electrical Steel Market was valued at USD 15.41 billion in 2021 and is expected to reach USD 25.09 billion by 2029, registering a CAGR of 6.28% during the forecast period of 2022 to 2029. The surge in global power generation and transmission projects is propelling a remarkable and sustained increase in demand for electrical steel, vital for diverse applications across various end-use industries.
Key Findings of the Study
Rise of the demand in the automobile industry is expected to drive the market's growth rate
In the automobile industry, the demand for electrical steel has surged due to its unique properties. With high electrical resistivity, permeability, low magnetostriction, and minimal hysteresis loss, electrical steel has become a preferred material in the production of automotive components. It plays a crucial role in manufacturing various parts, aligning with the industry's need for materials that enhance efficiency and performance in the increasingly electrified automotive landscape.
Report Scope and Market Segmentation
Report Metric
|
Details
|
Forecast Period
|
2022 to 2029
|
Base Year
|
2021
|
Historic Years
|
2020 (Customizable to 2014-2019)
|
Quantitative Units
|
Revenue in USD Billion, Volumes in Units, Pricing in USD
|
Segments Covered
|
Type (Grain Oriented Steel (CGRO), Non-Oriented Electrical Steel (CRNGO)), Thickness (0.23 MM, 0.27 MM, 0.30 MM, 0.35 MM, 0.5 MM, 0.65 MM, and Others), Core Losses (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), Flux Density (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), Application (Transformers, Inductors, Battery, Shunt Reactors, Convertors, Motors, Electrical Ballasts, Power Generators, Wound Cores, and Others), End-User (Energy and Power, Household Appliances, Automobiles, Building and Construction, and Others)
|
Countries Covered
|
U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia and New Zealand, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, United Arab Emirate, Saudi Arabia, Egypt, Israel, South Africa, Rest of Middle East and Africa
|
Market Players Covered
|
ArcelorMittal (Luxembourg), POSCO (South Korea), Voestalpine AG (Austria), Baosteel (China), Nippon Steel Corporation (Japan), United States Steel Corporation (U.S.), SAIL (India), TATA Steel (India), Thyssenkrupp AG (Germany), JFE Steel Corporation (Japan), Esteel (South Korea), Hesteel Group Tangsteel Company (China) ChinaSteel (Taiwan), ESL Steel Ltd. (India), Jiangsu Shagang Group Su ICP (China)., Union Electric Steel Corporation (U.S.), hebei puyang iron and steel group (china), Aperam (Luxemborg), Cleveland-Cliffs Inc. (U.S.), Slovenian Steel Group (Slovenia) and Sko-Die Inc (U.S.)
|
Data Points Covered in the Report
|
In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
|
Segment Analysis:
The global electrical steel market is segmented on the basis of type, thickness, core losses, flux density, application, and end-user.
- On the basis of type, the market is segmented into grain oriented steel (CGRO), non-oriented electrical steel (CRNGO). Non-oriented electrical steel (CRNGO) segment is expected to dominate the global electrical steel market with a 56.49% market share as more silicon increased resistivity which increases its demand globally
- On the basis of thickness, the market is segmented into 0.23 MM, 0.27 MM, 0.30 MM, 0.35 MM, 0.5 MM, 0.65 MM, and others. 0.30 MM segment is expected to dominate the global electrical steel market with 134.79% market share as it is more used in rotating electrical machines, increasing its demand in the global market
- On the basis of core losses, the 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. The less than 0.9 w/kg segment is expected to dominate the global electrical steel market with 237.53% market share as the electrical steel which has low core losses is more efficient in the application which increases its demand globally
- On the basis of flux density, the 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. Above 1.76 tesla segment is expected to dominate the global electrical steel market with a 605.04% market share as high flux density electrical steel products are more used in the power generation industries globally
- On the basis of application, the market is segmented into transformers, inductors, battery, shunt reactors, convertors, motors, electrical ballasts, power generators, wound cores, and others. The motors segment is expected to dominate the global electrical steel market with 245.23% market share due to which more usage of motors in different industries
The motors segment will dominate the application segment of the electrical steel market
The motors segment will emerge as the dominating segment under paints with 245.23% market share. This is because of the growing number of infrastructural development activities in the market especially in the developing economies. Further, the growth and expansion of the semiconductors industry all around the globe will further bolster the growth of this segment.
- On the basis of end-user, the market is segmented into energy and power, household appliances, automobiles, building and construction, and others. The energy and power segment is expected to dominate the global electrical steel market with a 384.85% market share as electrical steel is more used in the manufacturing of the large grid used for the storage of electrical energy
The energy and power segment will dominate the end-user segment of the electrical steel market
The energy and power segment will emerge as the dominating segment end-user segment with 384.85% market share. This is because of the growing demand for energy and power in the market especially in the developing economies. Further, the growth and expansion of research development services on a global scale will bolster the growth of this segment.
Major Players
Data Bridge Market Research recognizes the following companies as the major global electrical steel market players in global electrical steel market are Union Electric Steel Corporation (U.S.), hebei puyang iron and steel group (china), Aperam (Luxemborg), Cleveland-Cliffs Inc. (U.S.), Slovenian Steel Group (Slovenia) and Sko-Die Inc (U.S.)
Market Developments
- In January 2022, NLMK Group introduced an innovative steel product featuring an antibacterial coating. Specifically designed to shield the metal surface from harmful microorganisms, this advancement holds significant value for applications in medical and other facilities with stringent cleanliness and safety standards. The antibacterial-coated steel aligns with evolving industrial needs, providing a proactive solution to enhance hygiene measures in environments where maintaining a sterile and secure setting is paramount
- В мае 2020 года Tata Steel представила интеллектуальные стальные конструкции для строительного сектора, расширив применение электротехнической стали в строительстве. Этот стратегический шаг позволяет компании увеличить доход за счет удовлетворения меняющихся потребностей отрасли. Внедрение интеллектуальных стальных решений повышает эффективность и производительность строительных проектов, предлагая конкурентное преимущество. Выход Tata Steel на инновационные рынки подчеркивает ее стремление оставаться на переднем крае технологических достижений, обеспечивая устойчивый рост и рыночную актуальность
- В мае 2020 года компания voestalpine AG представила два инновационных продукта из электротехнических листов, Backlack-V и Sovac, специально разработанных для автомобильной промышленности. Это стратегическое расширение направлено на стимулирование роста доходов в будущем за счет удовлетворения уникальных потребностей автомобильного сектора. Внедрение этих передовых продуктов из электротехнических листов подчеркивает приверженность voestalpine AG предоставлению передовых решений, ожидая положительного влияния на эффективность бизнеса и позиционирование на рынке в автомобильной промышленности.
Региональный анализ
Географически в отчете о мировом рынке электротехнической стали рассматриваются следующие страны: США, Канада, Мексика, Бразилия, Аргентина, остальные страны Южной Америки, Германия, Франция, Италия, Великобритания, Бельгия, Испания, Россия, Турция, Нидерланды, Швейцария, остальные страны Европы, Япония, Китай, Индия, Южная Корея, Австралия и Новая Зеландия, Сингапур, Малайзия, Таиланд, Индонезия, Филиппины, остальные страны Азиатско-Тихоокеанского региона, Объединенные Арабские Эмираты, Саудовская Аравия, Египет, Израиль, Южная Африка, остальные страны Ближнего Востока и Африки.
Согласно анализу Data Bridge Market Research:
Азиатско-Тихоокеанский регион будет доминирующим регионом на мировом рынке электротехнической стали в прогнозируемый период 2022-2029 гг.
Азиатско-Тихоокеанский регион доминирует на мировом рынке электротехнической стали, удерживая значительную долю рынка и доход, и ожидается, что эта тенденция сохранится с 2022 по 2029 год. Это доминирование обусловлено повышенным спросом на электротехническую сталь, особенно в Китае, где производство и потребление неориентированной электротехнической стали лидирует в регионе. Лидерство Китая объясняется простотой производства и потребления неориентированной электротехнической стали, что укрепляет его позицию на переднем крае рынка Азиатско-Тихоокеанского региона.
По оценкам, Европа станет самым быстрорастущим регионом на мировом рынке электротехнической стали в прогнозируемый период 2022–2029 гг.
Ожидается, что Европа будет доминировать на мировом рынке электротехнической стали, демонстрируя быстрое развитие, обусловленное растущим спросом на неориентированную электротехническую сталь в коммерческой строительной деятельности. Устойчивый рост региона в этом секторе подчеркивает его ключевую роль в формировании ландшафта мирового рынка, с акцентом на неориентированную электротехническую сталь, удовлетворяющую потребности динамичных и расширяющихся коммерческих строительных проектов.
Более подробную информацию об отчете о мировом рынке электротехнической стали можно найти здесь – https://www.databridgemarketresearch.com/reports/global-electrical-steel-market
