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Electrical Steel - Global Market Trajectory & Analytics

  • ID: 4804324
  • Report
  • April 2021
  • Region: Global
  • 377 pages
  • Global Industry Analysts, Inc
Global Electrical Steel Market to Reach $49.3 Billion by 2027

Amid the COVID-19 crisis, the global market for Electrical Steel estimated at US$33.2 Billion in the year 2020, is projected to reach a revised size of US$49.3 Billion by 2027, growing at a CAGR of 5.8% over the period 2020-2027. Grain-Oriented, one of the segments analyzed in the report, is projected to record 5.5% CAGR and reach US$20.8 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Non Grain-Oriented segment is readjusted to a revised 6.1% CAGR for the next 7-year period.



The U.S. Market is Estimated at $9 Billion, While China is Forecast to Grow at 8.9% CAGR

The Electrical Steel market in the U.S. is estimated at US$9 Billion in the year 2020. China, the world's second largest economy, is forecast to reach a projected market size of US$10.4 Billion by the year 2027 trailing a CAGR of 8.8% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.2% and 5.2% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 3.7% CAGR.

Select Competitors (Total 41 Featured):
  • ArcelorMittal SA
  • Baosteel Group Corporation
  • China Steel Corporation
  • Essar Steel India Ltd.
  • Hebei Puyang Iron and Steel Group
  • JFE Steel Corporation
  • JSW Steel Ltd.
  • Nippon Steel & Sumitomo Metal Corporation
  • POSCO
  • Steel Authority of India Ltd. (SAIL)
  • Tata Steel Ltd.
  • ThyssenKrupp AG
  • Union Electric Steel Corporation
  • United States Steel Corporation
  • Wuhan Iron & Steel (Group) Corporation
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I. METHODOLOGY

II. EXECUTIVE SUMMARY
  • Influencer Market Insights
  • World Market Trajectories
  • Impact of Covid-19 and a Looming Global Recession
  • Global Electrical Steel Market - Prelude
  • Factors Driving Global Electrical Steel Market
  • Non-Grain Oriented Electrical Steel Leads Global Market
  • Electrical Steel Market by End Use
  • Transformers Segment Emerges as the Most Promising Application Market
  • China and Asia-Pacific - Lucrative Regional Markets for Electrical Steel
  • Competition
  • Highly Competitive Marketplace Dominated by Few Global Majors
  • Exhibit 1: Global Grain Oriented Electrical Steel Market - Percentage Breakdown of Sales by Leading Players
  • Expanding Applications of Electrical Steel
  • Diverse Properties of Electrical Steel Presents Opportunity to Expand Applications Range
  • Growing EV Sales to Benefit Electrical Steel Market
  • Increasing Sales of Hybrid EV Fosters Demand for Electrical Steel
  • Exhibit 2: Global EV Market - Sales of BEVs, PHEVs, Full + Mid Hybrids, and Pure ICE for the Years 2015, 2020, 2025 and 2030
  • Regulations to Reduce Electrical Losses of Transformers and Improve Energy Efficiency Drives Focus onto Electrical Steel as Core Material
  • Electrical Steel's Application in Transformer
  • With Rising Electricity Demand Fueling Distribution Transformers Market, Electrical Steel Market is Poised for Growth
  • Exhibit 3: Global Power Transformers Market in US$ Billion for the Period 2015-2022
  • Exhibit 4: Rising Electricity Demand and Growth in Transformers Market Augurs Well for Electrical Steel - Global Electricity Demand in TWh for the Years 2000 through 2017
  • Electrical Steel in Electric Motors - An Overview
  • Electrical Steel to Improve Motors Used in EVs
  • Processing Difficulties and Rising Threat of Substitutes - Key Challenges Confronting Electrical Steel Market
  • Innovations & Advancements
  • Electrical Steel Market - Innovations Drive Growth
  • TUM Researchers Optimize Cutting Process of Electrical Steel for Use in Electric Motors
  • Product Overview
  • Electrical Steel - An Introduction
  • Grain Oriented and Non-Grain Oriented - Types of Electrical Steel
  • Applications of Silicon Steel
III. MARKET ANALYSIS
  • China Leads Global Electrical Steel Market
  • Electrical Steel Market in Europe - An Overview
  • EU Conducts Safeguard Investigation for Electrical Steel
  • India's Steel Ministry Leads R&D Project to Develop Indigenous CRGO Production Technology
IV. COMPETITION
  • Total Companies Profiled: 41
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