Press release
Electric Steel Market Outlook 2023 Global Industry Demand, Trends, Size, Scope, Company Coverage - Baowu, ArcelorMittal, JFE Steel, Shougang, TISCO, NSSMC
Electric Steel Market
Overall, the electric steel market has witnessed significant growth due to its environmental advantages, increasing demand for steel products, and technological advancements. However, challenges related to raw material prices, initial investment, competition from other steelmaking technologies, and infrastructure limitations persist in the industry.
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Electrical steel is an alloy that contains iron and silicon. It can be manufactured by modifying the magnetic properties of steel for efficient magnetism and electricity conversion. Also called silicon steel, lamination steel, relay steel or transformer steel, this type of steel is very often used to build the cores of transformers as well as the stators of generators and motors. An electrical steel sheet is a functional material used as an iron core material for electrical equipment.
China is the largest market for electrical steel with a market share of about 50%, followed by Europe with a market share of about 20%.
The global electrical Steel market is dominated by Baowu, ArcelorMittal, JFE Steel, Shougang, NSMC, NLMK Group, etc. The top six manufacturers account for about 55% of the market share.
By Company
- Baowu
- ArcelorMittal
- JFE Steel
- Shougang
- TISCO
- NSSMC
- NLMK Group
- AK Steel
- ThyssenKrupp
- Ansteel
- Masteel
- Posco
- Cogent(Tata Steel)
- Voestalpine
- Benxi Steel
- APERAM
- Nucor
- ATI
- Stalprodukt S.A.
- CSC
Segment by Type
- Improved Carbon Structural Steel
- Tool Steel
- Alloy Steel
- Others
Segment by Application
- Industrial
- Aerospace and Defence
- Municipal Infrastructure
- Others
Production by Region
- North America
- Europe
- China
- Japan
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This report presents the worldwide Electric Steel Market size (value, production and consumption), splits the breakdown (data status 2017-2023 and forecast to 2029), by manufacturers, region, type and application. This study also analyzes the market status, market share, growth rate, future trends, market drivers, opportunities and challenges, risks and entry barriers, sales channels, distributors and Porter's Five Forces Analysis.
Table of Contents
1 Study Coverage
1.1 Electric Steel Product Introduction
1.2 Market by Type
1.2.1 Global Electric Steel Market Size by Type, 2018 VS 2022 VS 2029
1.2.2 Improved Carbon Structural Steel
1.2.3 Tool Steel
1.2.4 Alloy Steel
1.2.5 Others
1.3 Market by Application
1.3.1 Global Electric Steel Market Size by Application, 2018 VS 2022 VS 2029
1.3.2 Industrial
1.3.3 Aerospace and Defence
1.3.4 Municipal Infrastructure
1.3.5 Others
1.4 Assumptions and Limitations
1.5 Study Objectives
1.6 Years Considered
2 Global Electric Steel Production
2.1 Global Electric Steel Production Capacity (2018-2029)
2.2 Global Electric Steel Production by Region: 2018 VS 2022 VS 2029
2.3 Global Electric Steel Production by Region
2.3.1 Global Electric Steel Historic Production by Region (2018-2023)
2.3.2 Global Electric Steel Forecasted Production by Region (2024-2029)
2.3.3 Global Electric Steel Production Market Share by Region (2018-2029)
2.4 North America
2.5 Europe
2.6 China
2.7 Japan
3 Executive Summary
3.1 Global Electric Steel Revenue Estimates and Forecasts 2018-2029
3.2 Global Electric Steel Revenue by Region
3.2.1 Global Electric Steel Revenue by Region: 2018 VS 2022 VS 2029
3.2.2 Global Electric Steel Revenue by Region (2018-2023)
3.2.3 Global Electric Steel Revenue by Region (2024-2029)
3.2.4 Global Electric Steel Revenue Market Share by Region (2018-2029)
3.3 Global Electric Steel Sales Estimates and Forecasts 2018-2029
3.4 Global Electric Steel Sales by Region
3.4.1 Global Electric Steel Sales by Region: 2018 VS 2022 VS 2029
3.4.2 Global Electric Steel Sales by Region (2018-2023)
3.4.3 Global Electric Steel Sales by Region (2024-2029)
3.4.4 Global Electric Steel Sales Market Share by Region (2018-2029)
3.5 US & Canada
3.6 Europe
3.7 China
3.8 Asia (excluding China)
3.9 Middle East, Africa and Latin America
4 Competition by Manufactures
4.1 Global Electric Steel Sales by Manufacturers
4.1.1 Global Electric Steel Sales by Manufacturers (2018-2023)
4.1.2 Global Electric Steel Sales Market Share by Manufacturers (2018-2023)
4.1.3 Global Top 10 and Top 5 Largest Manufacturers of Electric Steel in 2022
and More…
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