Electrical Steel Market 2027| ArcelorMittal SA, Baosteel Group Corporation, Pohang Iron and Steel Company (POSCO), Nippon Steel & Sumimoto Metal Corporation(NSSMC), JFE Holdings Inc, Jiangsu Shagang Group, Tata Steel, The United States Steel Corporation (

Recent research and the current scenario as well as future market potential of "Global Electrical Steel Market 2020".

The Global Electrical Steel Market is expected to grow at a CAGR of 7.2% during the forecasting period (2020-2027).Electrical steel is special steel tailored to produce specific magnetic properties, high permeability and low amount of core loss.

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The global Electrical Steel market is majorly influenced by factors such as increas-ing industrialization, flourishing automotive industry, and growth in the energy sector. Moreover, electrical steel has a variety of application in the construction industry. The high rate of industrialization is expected to drive the market for elec-trical steel.

The market for Hybrid Electrical Vehicles (HEVs) is proliferating because of the growing environmental concerns and limited oil reserves. Hybrid vehicles are the future of the automotive industry, non-grain oriented electrical steel has wide ap-plications in HEVs; thus the market for non-grain oriented electrical steel is ex-pected to grow exponentially in the coming years.

Challenges in the processing of electrical steel is a major barrier to the growth of the Global Electrical Steel Market.

Segment Analysis

The Global Electrical Steel Market is classified based on type, application, and end-user. Based on the type the market has been segmented as Grain Oriented Electri-cal Steel and Non- Grain oriented Electrical Steel. Further, the market has been divided by application such as Transformers, Motors & Generator, Inductors, and others. Also, the market is classified by end-user industry as Automotive Industry, Construction, Manufacturing, Domestic appliances, Energy, and Others.

Grain-oriented electrical steel has more significant market share than other seg-ments. It is mainly used as a core material for transformers. The energy sector is growing at a fast pace. The growth in the energy sector will lead to more demand for transformers, and hence the market for grain-oriented electrical steel is ex-pected to increase further.

Non- oriented electrical steel is a fastest growing segment. Application of this ma-terial ranges from automobile usages such as hybrid electric vehicle (HEV)/electric vehicle (EV) traction motors and other applications such as electric power steering motors, high-efficiency air-conditioner compressor motors, vacu-um cleaner motors, and energy efficient induction motors. The boom in the au-tomotive industry primarily in HEV vehicles market is expected to propel the de-mand for Non-Grain oriented electrical steel.

Geographical Analysis

The report is divided based on the geography such as North America, South Amer-ica, Europe, Asia-Pacific and Rest of the world. Asia-Pacific has the most significant market share for electrical steels owing to its high demand for electricity there by power transformers. The other main reason for the high demand for electrical steel in APAC is the high growth rate of electrical steel end-user industries like au-tomotive, manufacturing and construction in the region.

Competitive Landscape

The Global Electrical Steel market report profiles the following companies-

ArcelorMittal S.A., Baosteel Group Corporation, Pohang Iron and Steel Company (POSCO), Nippon Steel & Sumimoto Metal Corporation(NSSMC), JFE Holdings Inc., Jiangsu Shagang Group, Tata Steel, The United States Steel Corporation (US Steel), Angang Steel Co. Ltd. and Gerdau.

ArcelorMittal, Baosteel, and NSSMC are key players in the market and holds the maximum share in the market. ArcelorMittal operates in more than 60 countries, having largest market in Europe. It was the largest producer of electrical steel in the world in 2017. Baosteel Group, a group, based in China exports its products to more than 40 countries and is one of the largest producers of electrical steel. NSSMC provides steel for areas such as construction, automobiles, civil engineer-ing, energy, resources and operates in 15 countries currently.

Key market segments covered

Type
Grain Oriented Electrical Steel
Non-Grain Oriented Electrical Steel
Others

By Application
Transformers
Motors & Generators
Inductors
Others

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By End-User Industry
Automotive Industry
Construction Industry
Manufacturing
Domestic Appliances
Energy
Others

By Region
Asia Pacific
Europe
North America
South America
Rest of the World

Why purchase the report?
Visualize the composition of the Electrical Steel market across each indica-tion, in terms of type, end user, and applications, highlighting the key com-mercial assets and players.
Identify commercial opportunities in Electrical Steel market by analyzing trends and co-development deals.
Excel data sheet with thousands of data points of the Electrical Steel market level 4/5 segmentation
PDF report with the most relevant analysis cogently put together after ex-haustive qualitative interviews and in-depth market study
Product mapping in excel for the essential Electrical Steel market products of all major market players

Target Audience
Raw Material Suppliers/ Buyers
Product Suppliers/ Buyers
Industry Investors/Investment Bankers
Education & Research Institutes
Research Professionals
Emerging Companies
Manufacturers

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