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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
Frequently Asked Questions about the Global Market for Electrical Steel

What is the estimated value of the Global Market for Electrical Steel?

The Global Market for Electrical Steel was estimated to be valued at $33.2 Billion in 2020.

What is the growth rate of the Global Market for Electrical Steel?

The growth rate of the Global Market for Electrical Steel is 5.8%, with an estimated value of $49.3 Billion by 2027.

What is the forecasted size of the Global Market for Electrical Steel?

The Global Market for Electrical Steel is estimated to be worth $49.3 Billion by 2027.
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I. METHODOLOGY
II. EXECUTIVE SUMMARY
  • Influencer Market Insights
  • World Market Trajectories
  • Impact of Covid-19 and a Looming Global Recession
  • Global Electrical Steel Market - Prelude
  • Factors Driving Global Electrical Steel Market
  • Non-Grain Oriented Electrical Steel Leads Global Market
  • Electrical Steel Market by End Use
  • Transformers Segment Emerges as the Most Promising Application Market
  • China and Asia-Pacific - Lucrative Regional Markets for Electrical Steel
  • Competition
  • Highly Competitive Marketplace Dominated by Few Global Majors
  • Exhibit 1: Global Grain Oriented Electrical Steel Market - Percentage Breakdown of Sales by Leading Players
  • Expanding Applications of Electrical Steel
  • Diverse Properties of Electrical Steel Presents Opportunity to Expand Applications Range
  • Growing EV Sales to Benefit Electrical Steel Market
  • Increasing Sales of Hybrid EV Fosters Demand for Electrical Steel
  • Exhibit 2: Global EV Market - Sales of BEVs, PHEVs, Full + Mid Hybrids, and Pure ICE for the Years 2015, 2020, 2025 and 2030
  • Regulations to Reduce Electrical Losses of Transformers and Improve Energy Efficiency Drives Focus onto Electrical Steel as Core Material
  • Electrical Steel's Application in Transformer
  • With Rising Electricity Demand Fueling Distribution Transformers Market, Electrical Steel Market is Poised for Growth
  • Exhibit 3: Global Power Transformers Market in US$ 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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