2021-2030 Analysis and Review Electrical Steel Market

Electrical Steel Market

Global Electrical Steel Market By Type (Grain-Oriented Steel, Non-Grain-Oriented Steel), By Application (Transformers, Motors, Inductors, Others) By End User (Energy, Automobiles, Manufacturing, Household Appliances, Others) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2021 – 2030

18-02-2022 REP-HC-139295 102 pages Format

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Global electrical steel market is estimated to grow at a CAGR of 6.8% during forecast period 2021-2030. Global electrical steel market is primarily driven by rising demand for electrical vehicles and rapid urbanization. Rapid urbanization coupled with increasing population is expected to increase the electricity demand and results in the installation of new transformers. According to United Nations (U.S.), global urbanization stood at 54% in 2014 and is expected to reach 66% by 2050. Furthermore, adoption of electric vehicles in also a major driving factor for electrical steel as it finds application in manufacturing of motors.

Increasing Demand for Electric Vehicle Remains as The Key Driver

Electrical steel finds huge application across the motors, alternators, and other electrical components of electric vehicles. Also, electrical steel sheet is adopted for manufacturing the core of traction motors of electric vehicles (EV) and hybrid electric vehicles (HEV). The incorporation of electrical steel sheet in electric vehicles results in improved performance. Thus, the increasing demand of electric vehicle would pave the way for electrical steel. Asia Pacific is the key region under electric vehicle market and consequently this region would create significant growth prospects for electrical steel. According to International Council on Clean Transport (ICCT), one in every third vehicle in Japan is electric. The increasing demand for electric vehicles across the globe is expected to provide traction to the global electrical steel market.

Energy Leads the End User Segment

Global electrical steel market has been segmented on the basis of type of battery, end-use and application. Energy leads in the global electrical steel market end-use segment in terms of revenue with around 38.38% market share in 2020. Increasing demand for electricity in the form of energy is expected to drive the electrical steel in energy segment market as electrical steel finds application in production of transformers as key component. According to Global World Energy Outlook 2016 by the International Energy Agency (IEA), the global demand for energy is expected increase by 30% by 2040 primarily driven by developing countries. The adoption of electrical steel helps in increasing efficiency and reduce energy loss in transformers. According to World Steel Association AISBL (Belgium), transformers having magnetic cores of steel have 35% lesser energy loss as compared to conventional transformers.

Non Grain-Oriented Steel Remains as The Fastest Growing Market

Non-grain-oriented steel market is expected to grow at the highest CAGR of 7.2% over the forecast period. The fastest growth rate of Non-grain-oriented steel is attributed towards the fact that the increasing adoption of non-grain oriented electrical steel in automotive traction drives and advantages offered by non-grain oriented steel. The advantages include high ultimate strength, minimum core losses and others. Moreover, the electric vehicle market is expected to grow at a CAGR of 24.2% till 2030. Hence, the increasing demand of electric vehicles and significant expansions by the key players in non-grain electrical steel is driving the non-grain oriented steel market.

APAC Clear Global Leader in Terms of Revenue as well As Growth

Geographically, global electrical steel market has been segmented into North America, Europe, Asia Pacific and Rest of World (ROW). Asia Pacific accounts for the largest share and fastest growing region in global electrical steel market by capturing the largest market share in terms of revenue of around 57.34% in 2020. Increasing demand from the consumer electronics market, adoption of electrical vehicles and increasing investments in the market to increase the efficiency of technology are some of the factors propelling the demand for electrical steel in the region. Asia Pacific leads the global electrical steel market by capturing largest market share of approximately 57.34% in 2020. Asia Pacific electrical steel market is expected to grow at CAGR of 7.3% during the forecast period. The dominance of Asia Pacific is justified by high adoption of electrical steel across various end use industries that include energy, automobiles and home appliances.

Historical &Forecast Period

This research report presents the analysis of each segment from 2020 to 2030 considering 2021 as the base year for the research. Compounded annual growth rate (CAGR) for each respective segment is calculated for the forecast period from 2021 to 2030.

Report Methodology

Market revenues and CAGR were derived from primary and secondary research. Both quantitative and qualitative trends were considered for extrapolation of market revenues. The derived market estimates were further validated from top down, bottom strategies and primary research. The scope of the market is limited to the following segments of product categories and region.

By Type(2020-2030; US$ Mn)

Grain-Oriented Steel
Non-Grain-Oriented Steel

By Application(2020-2030; US$ Mn)

Transformers
Motors
Inductors
Others

By End User(2020-2030; US$ Mn)

Energy
Automobiles
Manufacturing
Household Appliances
Others

By Region (2020-2030; US$ Mn)

North America
Europe
Asia Pacific
Latin America
Africa

Global Impact of Covid-19 Segment (2020-2021; US$ Mn)

Pre Covid-19 situation
Post Covid-19 situation

Key questions answered in this report

What are the key market segments in the current scenario andin the future by product categories?
What are the key market segments in the current scenario andin the future by regions?
What is the key impact of Covid-19 over market revenues and market determinants in the global electrical steel market?
What are the primary and secondary macro and micro factors influencing the market growth currently and during the forecast period?
What are the primary and secondary macro and micro factors deterring the market growth currently and during the forecast period?
How to overcome the current market challenges and leverage the opportunities in each of the market segments?
Who are the key players in the operational predictive maintenance market and what are their key product categories and strategies?
What are the key strategies – mergers/acquisitions/R&D/strategic partnerships etc. that companies are deploying to enhance market revenues and growth?

Electrical Steel Market - Table of Contents

Chapter 1. Preface

Chapter 2. Market Overview

2.1. Global Electrical Steel Market: Evolution & Transition
2.2.1. Raw Material Suppliers
2.2.2. Manufacturers
2.2.3. Distributors
2.2.4. End-Users
2.3. Estimation Analysis
2.3.1. Increasing Electricity Demand
2.3.2. Increasing Motor Vehicle Production
2.4. Strategic Analysis
2.4.1. Investment Versus Adoption Model
2.4.2. 360 Degree Analysis
2.4.3. Porter’s Five Force Model
2.4.4. See Saw Analysis
2.4.5. Key Buying Criteria
2.5. Competitive Analysis
2.5.1. Market Share Analysis & Top Company Analysis
2.5.2. Top 5 Companies
2.5.3. Top 3 Competitive Strategies
2.6. Strategic Recommendations & Key Conclusions

Chapter 3. Market Determinants

3.1. Market Drivers
3.2. Market Restraint
3.3. Market Opportunity
3.4. Market Challenge

Chapter 4. Global Electrical Steel Market by Type, 2020-2030 ($ Million)

4.1. Market Definition and Scope
4.2. Decision Support Data Base and Estimation Methodology
4.3. Comparative Analysis Across Market Segments 2021 & 2030
4.4. Opportunity Matrix
4.5. Market Segmentation by Type
4.5.1. Global Non-Grain-Oriented Steel Market
4.5.1.1. Adoption Scenario and Market Determinants
4.5.1.2. Market Estimations and Forecasts 2020-2030 ($ Million)
4.5.1.3. Key Players and Key Products
4.5.1.4. Key Conclusion
4.5.2. Global Grain-Oriented Steel Market
4.5.2.1. Adoption Scenario and Market Determinants
4.5.2.2. Market Estimations and Forecasts 2020-2030 ($ Million)
4.5.2.3. Key Players and Key Products
4.5.2.4. Key Conclusion
4.5.2.5. Sub Segments
4.5.2.5.1. Fully Processed Grain-Oriented Steel
4.5.2.5.2. Semi-ProcessedGrain-Oriented Steel

Chapter 5. Global Electrical Steel Market by Application, 2020-2030 ($ Million)

5.1. Market Definition and Scope
5.2. Decision Support Database & Estimation Methodology
5.3. Comparative Analysis Across Market Segments
5.4. Opportunity Matrix
5.5. Market Segmentation
5.5.1. Global Transformers Market
5.5.1.1. Adoption Scenario & Market Determinants
5.5.1.2. Market Estimations and Forecasts 2020-2030($ Million)
5.5.1.3. Key Players & Key Products
5.5.1.4. Key Conclusion
5.5.1.4.1.1. Current Transformers
5.5.1.4.1.2. Power Transformers
5.5.1.4.1.3. Distribution Transformers
5.5.2. Global Motors Market
5.5.2.1. Adoption Scenario & Market Determinants
5.5.2.2. Market Estimations and Forecasts 2020-2030($ Million)
5.5.2.3. Key Players & Key Products
5.5.2.4. Key Conclusion
5.5.3. Global Inductors Market
5.5.3.1. Adoption Scenario & Market Determinants
5.5.3.2. Market Estimations and Forecasts 2020-2030($ Million)
5.5.3.3. Key Players & Key Products
5.5.3.4. Key Conclusion
5.5.4. Global Others Market
5.5.4.1. Adoption Scenario & Market Determinants
5.5.4.2. Market Estimations and Forecasts 2020-2030 ($ Million)
5.5.4.3. Key Players & Key Products
5.5.4.4. Key Conclusion

Chapter 6. Global Electrical Steel Market by End-User, 2020-2030 ($ Million)

6.1. Market Definition and Scope
6.2. Decision Support Database & Estimation Methodology
6.3. Comparative Analysis Across Market Segments
6.4. Opportunity Matrix
6.5. Market Segmentation
6.5.1. Global Energy Market
6.5.1.1. Adoption Scenario & Market Determinants
6.5.1.2. Market Estimations and Forecasts 2020-2030 ($ Million)
6.5.1.3. Key Players & Key Products
6.5.1.4. Key Conclusion
6.5.2. Global Automobiles Market
6.5.2.1. Adoption Scenario & Market Determinants
6.5.2.2. Market Estimations and Forecasts 2020-2030($ Million)
6.5.2.3. Key Players & Key Products
6.5.2.4. Key Conclusion
6.5.3. Global Manufacturing Market
6.5.3.1. Adoption Scenario & Market Determinants
6.5.3.2. Market Estimations and Forecasts 2020-2030($ Million)
6.5.3.3. Key Players & Key Products
6.5.3.4. Key Conclusion
6.5.4. Global Household Appliances Market
6.5.4.1. Adoption Scenario & Market Determinants
6.5.4.2. Market Estimations and Forecasts 2020-2030($ Million)
6.5.4.3. Key Players & Key Products
6.5.4.4. Key Conclusion
6.5.5. Global Others Market
6.5.5.1. Adoption Scenario & Market Determinants
6.5.5.2. Market Estimations and Forecasts 2020-2030($ Million)
6.5.5.3. Key Players & Key Products
6.5.5.4. Key Conclusion

Chapter 7. Competitive Landscape

7.1. Key Strategies
7.1.1. List of Product Launch, Upgradation & Development
7.1.2. List of Road Map
7.1.3. List of Expansion
7.1.4. List of Merger & Acquisition

Chapter 8. North America Electrical Steel Market, 2020-2030

8.1. Market Overview
8.2 Segmentation Analysis by Region 2020-2030 ($Million)
8.2.1. United States
8.2.2. Canada

Chapter 9. UK & European Union Electrical Steel Market, 2020-2030

9.1. Market Overview
9.2. Segmentation Analysis by Region 2020-2030 ($ Million)
9.2.1. United Kingdom
9.2.2. France
9.2.3. Germany
9.2.4. Russia
9.2.5. Rest of Europe

Chapter 10. Asia-Pacific Electrical Steel Market, 2020-2030

10.1. Market Overview
10.2. Segmentation Analysis by Region 2020-2030 ($Million)
10.2.1. China
10.2.2. India
10.2.3. Japan
10.2.4. Australia
10.2.5. Rest of Asia-Pacific

Chapter 11. Row Electrical Steel Market, 2020-2030

11.1. Market Overview
11.2. Segmentation Analysis by Region 2020-2030 ($ Million)
11.2.1. Latin America
11.2.2. Middle East & Africa

Chapter 12. Company Profile

12.1. Arnold Magnetic Technologies (Acquired by Compass Diversified Holdings)
12.2. Arcelormittal Sa.
12.3. Baosteel Group Corporation.
12.4. China Steel Corporation
12.5. Jiangsu Shagang International Trade Co. Ltd.
12.6. Nippon Steel & Sumitomo Metal Corporation
12.7. Orchid International
12.8. Posco
12.9. Sko-Die Inc.
12.10. Steel Authority of India Limited
12.11. Tata Steel Limited
12.12. Thyssenkrupp Ag
12.13. Union Electric Steel Corporation
12.14. Union Electric Steel Corporation
12.15. Voestalpine Group

Electrical Steel Market - List of Tables

Table 1 Global Electrical Steel Market by End-Use 2020 -2030 ($ Million)
Table 2 Investment Versus Adoption Model: Global Electrical Steel Market by End Use Industry, 2020
Table 3 Drivers Impact Analysis of Global Electrical Steel Market
Table 4 Restraint Impact Analysis of Global Electrical Steel Market
Table 5 Opportunity Impact Analysis of Global Electrical Steel Market
Table 6 Challenge Impact Analysis of Global Electrical Steel Market
Table 7 Global Electrical Steel Market by Type 2020-2030 ($ Million)
Table 8 Global Non Grain-Oriented Steel Market by Geography 2020-2030 ($ Million)
Table 9 Global Grain-Oriented Steel Market by Geography 2020-2030 ($ Million)
Table 10 Global Electrical Steel Market by Application 2020-2030 ($ Million)
Table 11 Global Transformers Market by Geography 2020-2030 ($ Million)
Table 12 Global Motors Market by Geography 2020-2030 ($ Million)
Table 13 Global Inductors Market by Geography 2020-2030 ($ Million)
Table 14 Global Others Market by Geography 2020-2030 ($ Million)
Table 15 Global Electrical Steel Market by End-User 2020-2030 ($ Million)
Table 16 Global Energy Market by Geography 2020-2030 ($ Million)
Table 17 Global Automobiles Market by Geography 2020-2030 ($ Million)
Table 18 Global Manufacturing Market by Geography 2020-2030 ($ Million)
Table 19 Global Household Appliances Market by Geography 2020-2030 ($ Million)
Table 20 Global Others Market by Geography 2020-2030 ($ Million)
Table 21 North America Electric Steel Market by Countries 2022-2030 ($ Million)
Table 22 North America Segmentation Analysis by Type2020-2030 ($Million)
Table 23 North America Segmentation Analysis by Application 2020-2030($Million)
Table 24 North America Segmentation by End-User 2020-2030 ($Million)
Table 25 United States Segmentation Analysis by Type2020-2030 ($Million)
Table 26 United States Segmentation Analysis by Application 2020-2030($Million)
Table 27 United States Segmentation by End-User 2020-2030 ($Million)
Table 28 Power Line Projects Currently Underway in Canada
Table 29 Canada Segmentation Analysis by Type 2020-2030 ($Million)
Table 30 Canada Segmentation Analysis by Application 2020-2030($Million)
Table 31 Canada Segmentation by End-User 2020-2030 ($Million)
Table 32 Europe Electrical Steel Market 2020-2030 ($ Million)
Table 33 Europe Segmentation by Type 2020-2030($Million)
Table 34 Europe Segmentation by Application 2020-2030($Million)
Table 35 Europe Segmentation by End-User 2020-2030($Million)
Table 36 United Kingdom Segmentation by Type 2020-2030($Million)
Table 37 United Kingdom Segmentation by Application 2020-2030($Million)
Table 38 United Kingdom Segmentation by End-User 2020-2030($Million)
Table 39 France Segmentation by Type 2020-2030($Million)
Table 40 France Segmentation by Application 2020-2030($Million)
Table 41 France Segmentation by End-User 2020-2030($Million)
Table 42 Germany Segmentation by Type 2020-2030($Million)
Table 44 Germany Segmentation by Application 2020-2030($Million)
Table 45 Germany Segmentation by End-User 2020-2030($Million)
Table 46 Spain Segmentation by Type 2020-2030($Million)
Table 47 Spain Segmentation by Application 2020-2030($Million)
Table 48 Spain Segmentation by End-User 2020-2030($Million)
Table 49 Rest of Europe Segmentation by Type 2020-2030($Million)
Table 50 Rest of Europe Segmentation by Application 2020-2030($Million)
Table 51 Rest of Europe Segmentation by End-User 2020-2030($Million)
Table 52 Asia-Pacific Electrical Steel Market 2020-2030 ($ Million)
Table 53 Asia-Pacific Segmentation Analysis by Type 2020-2030 ($ Million)
Table 54 Asia-Pacific Segmentation by Application 2020-2030 ($ Million)
Table 55 Asia-Pacific Segmentation by End-User 2020-2030 ($ Million)
Table 56 China Segmentation by Type 2020-2030 ($ Million)
Table 57 China Segmentation by Application 2020-2030 ($ Million)
Table 58 China Segmentation Analysis by End-User 2020-2030 ($ Million)
Table 59 India Segmentation by Type 2020-2030 ($ Million)
Table 60 India Segmentation by Application 2020-2030 ($ Million)
Table 61 India Segmentation Analysis by End-User 2020-2030 ($ Million)
Table 62 Japan Segmentation by Type 2020-2030 ($ Million)
Table 63 Japan Segmentation by Application 2020-2030 ($Million)
Table 64 Japan Segmentation Analysis by End-User 2020-2030 ($ Million)
Table 65 Australia Segmentation by Type 2020-2030 ($ Million)
Table 66 Australia Segmentation by Application 2020-2030 ($Million)
Table 67 Australia Segmentation Analysis by End-User 2020-2030 ($ Million)
Table 68 Roapac Segmentation by Type 2020-2030 ($ Million)
Table 69 Roapac Segmentation by Application 2020-2030 ($ Million)
Table 70 Roapac Segmentation Analysis by End-User 2020-2030 ($ Million)
Table 71 Row Electrical Steel Market 2020-2030 ($ Million)
Table 72 Row Segmentation Analysis by Type 2020-2030 ($ Million)
Table 73 Row Segmentation by Application 2020-2030 ($ Million)
Table 74 Row Segmentation by End User 2020-2030 ($ Million)
Table 75 Latin America Electrical Steel Market by Type 2020-2030 ($ Million)
Table 76 Latin America Electrical Steel Market by Application 2020-2030 ($ Million)
Table 77 Latin America Electrical Steel Market by End User 2020-2030 ($ Million)
Table 78 Middle East & Africa Electrical Steel Market by Type 2020-2030 ($ Million)
Table 79 Middle East & Africa Electrical Steel Market by Application 2020-2030 ($ Million)
Table 80 Middle East & Africa Electrical Steel Market by End User 2020-2030 ($ Million)

Electrical Steel Market - List of Figures

Figure 1 Global Electrical Steel Market Regional Analysis 2022-2030 (%)
Figure 2 Time Line of Global Electrical Steel Market
Figure 3 Electrical Steel Manufacturing Process
Figure 4 Asia Pacific Electrical Steel Market 2020-2030 ($ Million)
Figure 5 Energy Electrical Steel Market 2020-2030 ($ Million)
Figure 6 Global Transformers Electrical Steel Market 2020-2030 ($ Million)
Figure 7 China Electrical Steel Market 2020-2030 ($ Million)
Figure 8 India Electrical Steel Market 2020-2030 ($ Million)
Figure 9 Household Appliances Electrical Steel Market 2020-2030 ($ Million)
Figure 10 Germany Electrical Steel Market 2020-2030 ($ Million)
Figure 11 Non Grain-Oriented Electrical Steel Market 2020-2030 ($ Million)
Figure 12 Motors Electrical Steel Market 2020-2030 ($ Million)
Figure 13 Electricity Demand Projection till 2040
Figure 14 See-Saw Analysis of Global Electrical Steel Market
Figure 15 Key Buying Criteria Impact
Figure 16 Market Share Analysis of Global Electrical Steel Market, 2021 (% Revenue)
Figure 17 Investment Proposition for Global Electrical Steel Market, 2022-2030
Figure 18 Investment Opportunities in Emerging End Users, 2022-2030
Figure 19 Comparative Analysis Across Market Segments 2021 & 2030 (%)
Figure 20 Urban Population (% of Total Population)
Figure 21 Total Electric Vehicle Sale in The U.S. in 2015 and 2016
Figure 22 Global Price of Iron Ore (in $ Per Metric Ton)
Figure 23 Comparative Analysis Across Market Segments 2021 & 2030 (%)
Figure 24 Global Non Grain-Oriented Steel Market 2020-2030 ($ Million)
Figure 25 Global Grain-Oriented Steel Market 2020-2030 ($ Million)
Figure 26 Global Fully Processed Grain-Oriented Steel Market 2020-2030 ($ Million)
Figure 27 Global Semi Processed Grain-Oriented Steel Market 2020-2030 ($ Million)
Figure 28 Comparative Analysis Across Market Segments 2021 & 2030 (%)
Figure 29 Global Transformers Market 2020-2030 ($ Million)
Figure 30 Global Current Transformers Market 2020-2030 ($ Million)
Figure 31 Global Power Transformers Market 2020-2030 ($ Million)
Figure 32 Global Distribution Transformers Market 2020-2030 ($ Million)
Figure 33 Global Motors Market 2020-2030 ($ Million)
Figure 34 Global Inductors Market 2020-2030 ($ Million)
Figure 35 Global Others Market 2020-2030 ($ Million)
Figure 36 Comparative Analysis Across Market Segments 2021 & 2030 (%)
Figure 37 Global Energy Market 2020-2030 ($ Million)
Figure 38 Global Automobiles Market 2020-2030 ($ Million)
Figure 39 Global Manufacturing Market 2020-2030 ($ Million)
Figure 40 Global Household Appliances Market 2020-2030 ($ Million)
Figure 41 Global Others Market 2020-2030 ($ Million)
Figure 42 Planned Circuit Lines Expected to Be Completed by 2020 Across USA.
Figure 43 USA Electric Steel Market 2020-2030 ($ Million)
Figure 44 Canada Electric Steel Market 2020-2030 ($ Million)
Figure 45 United Kingdom Electrical Steel Market 2020-2030 ($ Million)
Figure 46 France Electrical Steel Market 2020-2030 ($ Million)
Figure 47 Germany Electrical Steel Market 2020-2030 ($ Million)
Figure 48 Spain Electrical Steel Market 2020-2030 ($ Million)
Figure 49 Rest of Europe Electrical Steel Market 2020-2030 ($ Million)
Figure 50 China Electrical Steel Market 2020-2030 ($ Million)
Figure 51 India Electrical Steel Market 2020-2030 ($ Million)
Figure 52 Japan Electrical Steel Market 2020-2030 ($ Million)
Figure 53 Australia Electrical Steel Market 2020-2030 ($ Million)
Figure 54 Rest of Asia-Pacific Electrical Steel Market 2020-2030 ($ Million)
Figure 55 Latin America Electrical Steel Market 2020-2030 ($ Million)
Figure 56 Middle East & Africa Electrical Steel Market 2020-2030 ($ Million)