Electrical Steel Market (Electrical Steel Market, By Product: Grain-Oriented Electrical Steel [By application {Large power transformers, Distribution transformers, Small transformers, Power Generators, Audio transformers, Others}], By end-use [Energy, Automotive, Manufacturing, Household Appliances], Non-Grain Oriented Electrical Steel [By product {Semi-processed, Fully processed} By application {Power generators, Motors, Ballasts,Rotating machines, Small transformers, Audio transformers, Others} By end-use {Energy, Automotive, Manufacturing, Household Appliances}]) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2018 - 2026

Category : Chemicals and Materials | Delivery Format : PDF | Status: Published | Pages : 160

Introduction

Electrical steel is a speciality steel which is produced by customizing the magnetic properties of usual steel in order to offer high permeability for ensuring low core loss in electrical components. It is used in the production of various devices such as core of generators, power transformers, inductors, among others. As silicon is added to electrical steel, it is also called as laminate steel. It is mostly used for lamination methods in the cores of electrical components. Electrical steel is generally produced in cold rolled strips. The report provides analysis of global electrical steel market for the period 2016-2026, wherein 2018 to 2026 is the forecast period and 2017 is considered as the base year. According to Acumen Research and Consulting, the global electrical steel market is expected to grow at significant CAGR around 7.2% throughout the forecast period and reach around US$ 23 billion by 2026.

Market Dynamics

Rising investment in infrastructure development, increasing usage of electrical steel in power industry, escalating demand in high speed cars, improved per capita electricity consumption, growing urbanization and technological advancements are some of the key factors that are fueling the electrical steel market growth across the globe. Developed and developing economies are rapidly shifting in the direction of sustainable and efficient energy systems. The electric or hybrid vehicle industry is also growing increasingly. This industry needs high grade electrical steel for a variety of applications. Increase in the manufacturing of electrical steel is projected to be mainly driven by development of the various application segments. Governments of various economies have implemented various regulations for the usage of transformers in order to reduce the loss of energy and emissions of carbon dioxide. Furthermore, the demand for transformers is anticipated to increase due to the rapid growth in the global power industry, thereby fueling the market growth. Due to the ability of transmission of power over long distances with minimum energy losses and high power efficiency, the demand for grain-oriented electrical steel is rapidly increasing. Moreover, electrical steel enhances efficiency and minimizes the losses in many applications. Increasing investment in infrastructure development is also driving the growth of the global market. Due to the ability to improve efficiency, reduce energy loss, reduce carbon emissions electrical steel products are generally used in power industry, transformers and high speed cars. Also, the continuous technological advancements and development of power infrastructure are helping the growth of the global electrical steel market.

Market Segmentation

Electrical Steel Market, By Product:

  • Grain-Oriented Electrical Steel
    • By application
      • Large power transformers
      • Distribution transformers
      • Small transformers
      • Power Generators
      • Audio transformers
      • Others
    • By end-use
      • Energy
      • Automotive
      • Manufacturing
      • Household Appliances
  • Non-Grain Oriented Electrical Steel
    • By product
      • Semi-processed
      • Fully processed
    • By application
      • Power generators
      • Motors
      • Ballasts
      • Rotating machines
      • Small transformers
      • Audio transformers
      • Others
    • By end-use
      • Energy
      • Automotive
      • Manufacturing
      • Household Appliances

 Global Electrical Steel Market, by Geography

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • UK
    • Germany
    • France
    • Rest of Europe
  • Asia-Pacific
    • China
    • Japan
    • India
    • Australia
    • Rest of Asia-Pacific
  • Latin America
    • Brazil
    • Chile
    • Rest of Latin America
  • Middle East and Africa (MEA)
    • South Africa
    • Saudi Arabia
    • Rest of MEA

The market research study on “Electrical Steel Market (Electrical Steel Market, By Product: Grain-Oriented Electrical Steel [By application {Large power transformers, Distribution transformers, Small transformers, Power Generators, Audio transformers, Others}], By end-use [Energy, Automotive, Manufacturing, Household Appliances], Non-Grain Oriented Electrical Steel [By product {Semi-processed, Fully processed} By application {Power generators, Motors, Ballasts,Rotating machines, Small transformers, Audio transformers, Others} By end-use {Energy, Automotive, Manufacturing, Household Appliances}]) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2018 - 2026” offers detailed insights on global electrical steel market segments with market dynamics and their impact. The report provides insights on global electrical steel market by product, end-use and major geographic regions. The report also covers basic technology development policies.

Market Participants

The global electrical steel market is characterized by the presence of experienced and established players. Some of the key players include Shandong Iron and Steel Group Co Ltd, SAIL, ArcelorMittal, Tata Steel Limited, Nippon Steel & Sumitomo Metal Corporation (NSSMC) Group, United States Steel Corporation, Baosteel Group, Shagang Group Inc., JFE Steel Corporation, Ansteel Group Corporation, Jindal Steel and Power Limited, HBIS Group and Voestalpine Group.


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