Press release
Electrical Steel Market 2026, Increasing Demand with Leading key players Tata Steel Europe Limited, ThyssenKrupp AG, AK Steel Corporation, Voestalpine Stahl GmbH, JFE Steel Corporation, Arnold Magnetic Technologies, Nippon Steel Corporation, SMS Group Gmb
For more information in the analysis of this report, visit https://www.fortunebusinessinsights.com/industry-reports/electrical-steel-market-100827
The report analyses key market players and their market position in terms of core competencies and ranking in the global electrical steel market. It further provides elaborate insights on the most significant aspects of the global market, such as growth drivers, hindrances, regional analysis, accurate facts and figures, and segments.
Fortune Business Insights profiles some of the prominent market players operating in the global electrical steel market. They are as follows:
• Tata Steel Europe Limited
• ThyssenKrupp AG
• AK Steel Corporation
• Voestalpine Stahl GmbH
• JFE Steel Corporation
• Arnold Magnetic Technologies
• Nippon Steel Corporation
• SMS Group GmbH
• Big River Steel
• Aperam S.A.
• Posco Poggenamp Electrical Steel Pvt. Ltd.
• Allegheny Technologies Incorporated
• Marubeni-Itochu Steel, Inc.
• Baosteel Co. Ltd
• Normax Electrical Steel Pvt. Ltd.
Key Market Driver – Increase in the electricity consumption and growth in usage of electric vehicle
Key Market Restraint – Difference in the quality and standards for the usage of electrical steel in different regions
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Rising Urban Population to Propel Global Electrical Steel Market Growth
A rise in the urban population around the world is considered to be one of the major factors increasing the global electrical steel market growth in the coming years. The rising population is further resulting in the increasing demand for electrical steel products. Demand for steel rises with the need for new infrastructure in the initial stage of a nation’s development. This demand is created to create new power grid networks and enhanced connectivity. The rising population density in urban areas is giving rise to increasing construction activities.
Furthermore, increasing disposable income of consumers and a rapid shift in consumer behavior is expected to contribute to the global electrical steel market growth in the forthcoming years. Besides, high disposable income of consumers is resulting in increasing demand for automobiles, namely, hybrid electric vehicles and cars. These vehicles have several components, such as electrical power steering, fuel pump, and other similar equipment. Electrical steel is required for generating electromagnetic effect in all these operations.
Segmentation
1. By Type
• Grain oriented
• Non-Grain Oriented
2. By Application
• Motors
• Transformers
• Inductors
• Others
3. By End User
• Energy
• Automotive
• Manufacturing
• Household Appliance
• Others
4. By Geography
• North America (the USA and Canada)
• Europe (UK, Germany, France, Italy, Spain, Russia and Rest of Europe)
• Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
• Latin America (Brazil, Mexico, and Rest of Latin America)
• Middle East & Africa (South Africa, GCC, and Rest of the Middle East & Africa)
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Rising Construction of Solar Power Generation Plants to Favor Growth in Asia Pacific
The global electrical steel market is geographically categorized into Europe, Latin America, North America, Asia Pacific, and the Middle East and Africa. Out of these regions, Europe had exhibited steady growth in its power generation, distribution, and automotive industry. It is likely to positively impact the electrical steel market growth in this region in the forthcoming years. In Asia Pacific, emerging countries, such as China and India are showcasing rapid growth in the construction of solar power generation plants. The United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) stated that the total population in Asia Pacific is projected to reach approximately 5.1 billion by 2050. Out of this, around 64% population is assumed to belong to the urban areas. Combined with this, a rise in the production and sales of vehicle in this region is projected to contribute to the increasing electrical steel market revenue.
The Middle East and Africa, on the other hand, are expected to hold considerable electrical steel market share due to the moderately growing automotive industry as well as increasing power generation plants. However, moderate growth in the power distribution service and electrical industry will result in the electrical steel market growth in Latin America in the coming years.
China Baowu Steel Group to Acquire 51% Stake in Maanshan Iron and Steel Co.
In June 2019, China Baowu Steel Group Corp., Ltd., a state-owned iron and steel company, based in Shanghai, is all set to acquire 51% stake in the entity of Maanshan Iron and Steel Co. Ltd. It would bring the Baowu closer to becoming a steel giant with 100 million metric tons of output. According to the analysists, the entire restructuring procedure of two steel manufacturers will aid in the future development and the Chinese steel industry. The strengths of these two companies would enhance their ability in the steel sector with more productivity.
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Major Table of Content For Electrical Steel Market:
1. Introduction
2. Executive Summary
3. Market Dynamics
4. Key Insights
5. Global Electrical Steel Market Analysis, Insights and Forecast, 2026
6. North America Electrical Steel Market Analysis, Insights and Forecast, 2026
7. Europe Electrical Steel Market Analysis, Insights and Forecast, 2026
8. Asia Pacific Electrical Steel Market Analysis, Insights and Forecast, 2026
9. The Middle East and Africa Electrical Steel Market Analysis, Insights and Forecast, 2026
10. Latin America Electrical Steel Market Analysis, Insights and Forecast, 2026
11. Competitive Landscape
12. Company Profile
13. Conclusion
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Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.
Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.
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Contact Us
Fortune Business Insights™ Pvt. Ltd.
308, Supreme Headquarters,
Survey No. 36, Baner,
Pune-Bangalore Highway,
Pune - 411045, Maharashtra, India.
Phone
US :+1 424 253 0390
UK : +44 2071 939123
APAC : +91 744 740 1245
Email: sales@fortunebusinessinsights.com
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