Electrical Steel Market Size By Product (Grain Oriented [By Application {Large Power Transformers, Distribution Transformers, Small Transformers, Power Generators, Audio Transformers}], Non Grain-Oriented [By Product {Semi Processed, Fully Processed}]), By End-Use (Energy, Automotive, Manufacturing, Household Appliances), Industry Analysis Report, Regional Outlook (U.S., Canada, Mexico, Germany, UK, France, Italy, Spain, Russia, Ukraine, China, India, Japan, South Korea, Indonesia, Australia, Brazil, Argentina, Iran, UAE, Egypt, South Africa), Application Potential, Price Trends, Competitive Market Share & Forecast, 2019 - 2025

Published Date: Feb 2019 | Report ID: GMI3136 | Authors: Kunal Ahuja, Shreya Deb Report Format: PDF

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Summary Table of Contents Industry Coverage Methodology

Industry Trends

Electrical Steel Market size was over USD 14 billion in 2018 and industry expects consumption at over 25 million tons by 2025.
 

U.S. Grain Oriented Electrical Steel Market Size, By, 2018 & 2025, (Million tons)
U.S. Grain Oriented Electrical Steel Market Size, By, 2018 & 2025, (Million tons)

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Growing investment in infrastructure development and increasing urbanization is likely to stimulate electrical steel market growth. Global power transformers market is estimated to be valued at more than USD 22 billion in 2018, which indicates significant growth opportunities. These products find their usage in transformers, power industry and high-speed cars owing to their ability to reduce energy loss, improved efficiency, low emissions of carbon dioxide and hysteresis loss in high-speed electric motors. Increasing urban population & technological advancements, along with rising consumer’s disposable income will further stimulate market growth in the energy sector.
 

Rise in infrastructure demand has resulted in increased per capita consumption of electricity thereby promoting the growth in market demand. Government norms in several countries aim to reduce carbon dioxide emission and have enacted regulations for the usage of transformers which has increased product with improved properties to manufacture efficient cores. The gradual loss in electrical energy due to hysteresis is uneconomical when used in electrical devices and can adversely affect the workability of steel. These products reduce the energy loss owing to their unique properties like high permeability, effective magnetic properties, strong power density and longevity which likely to boost market size.
 

However, it is incapable of meeting complex requirements of precision and efficiency. Large amount of mechanical stress is generated during the cutting, bending and punching operations which reduces the magnetism thereby reducing the original magnetic effect. These products also face various technological and safety constraints which may hinder the market growth.
 

Electrical Steel Market, By Product

Grain oriented electrical steel demand will register significant gains over 6.5% by 2025. It improves the transformers performance by enhancing the efficiency and reducing equipment weight. These products contain large sized grains that help in reducing hysteresis loss, are energy efficient steel and widely used in transformers and power generators. Increasing global demand for energy and rapid growth in power industry should further fuel product demand.
 

Global non-grain oriented electrical steel market size will surpass USD 14 billion by 2025 on account of growing demand for electric vehicles globally. The product ensures high magnetic flux density, low area for hysteresis loop and high magnetic permeability. Rising demand for automobiles production has increased product demand as a core material in motor parts to enhance power & fuel performance of automobiles and is expected to boost industry growth.
 

Electrical Steel Industry, By Application

Grain oriented electrical steel market size from large power transformers will register gains near about 7% in the forecasted timeperiod pertaining to their high power efficiency and transmission of power over long distances with minimum energy losses. Rising power sector and rising global initiatives to use renewable energy sources is expected to boost industry growth.
 

Non-grain oriented electrical steel market demand from power generators was estimated at around 2.5 billion in 2018 owing to the increasing power demand, inadequate gas transportation distribution and lack of sufficient grid infrastructure. These products are used as back-ups for generating power for domestic, commercial and industrial usage. Increasing demand for high quality power, growth of telecom, oil & gas and retail industries is likely to accelerate product demand.
 

Grain oriented segment size from distribution transformers may register gains over 6% up to 2025 pertaining to the increasing infrastructural and industrial development and growing electric power distribution system across the globe. These products are designed to provide high efficiency at lower loads, easy to install, have low magnetic losses, small sized and provide power generation to remote locations.
 

Electrical Steel Market, By End-Use

Grain oriented electrical steel market size from automotive is likely to surpass USD 1.7 billion up to 2025. They are used to enhance the efficiency and output power of automotive vehicles and supercars. They help in enhancing the aesthetic value of cars by improving the visual appearance which in turn increases their resale value. It provides high corrosion resistance to catalytic converters in the vehicles, offer lightweight opportunities while maintaining safety standards thereby driving industry growth.
 

Non-grain oriented electrical steel demand from household appliances may witness significant gains at over 6% owing to corrosive resistant and recyclable nature. These products are used in refrigerators, motors, washing machines and various other kitchen appliances to give them high-end professional look and textured design to give them an enhanced image. Rising innovations in household and kitchen appliances will accelerate industry growth.

Electrical Steel Market, By Region

North America, driven by Canada, Mexico and the U.S. electrical steel market size is poised to exceed USD 1.4 billion by 2025 owing to growing demand for automotive and electric vehicles in the region. These products ensure minimum energy loss, increase the efficiency of machine and enhance the fuel economy of automotive. Increasing urbanization, growing electric vehicles sales along with increasing preference of manufacturers for steel components and rising technological advancements should further promote regional demand.
 

Europe driven by Germany, UK, France, Italy and Spain may anticipate gains close to 6.5% in the forecasted timeframe. Increasing electricity consumption, investments for renovation and upgradation of grid infrastructure and rising demand for electronics will drive the market growth in the region.  Use of steel in manufacturing of motors, power generators and various other transformers will boost market growth in the region.
 

Asia Pacific driven by India, Japan, China electrical steel market size may register significant increase over 7% by the end of 2025. Rise in construction sector development has increased the power demand which has resulted in installation of new and efficient transformers. Government initiatives to promote accompanied with rising infrastructure development will regional industry growth.

Competitive Market Share

Global electrical steel market share is less competitive and consolidated among various market participants such as Voestalpine, ArcelorMittal Europe, MITSUI & Co, and Arnold Magnetic Technologies. Manufacturers are majorly focusing on processing of new innovative products to expand their product line and engage new customers in order to expand business.
 

Electrical Steel Industry Background

Electrical Steel Market Segmentation

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Electrical steel is widely used in cores of transformers, motors and generators. They are designed to provide high magnetic flux density, high permeability and minimum energy loss and widely used in automotive, energy and manufacturing industries. Rising per capita income, government initiatives and increasing urbanization are likely to fuel industry growth.

 


What Information does this report contain?

Historical data coverage: 2014 to 2018; Growth Projections: 2019 to 2025.
Expert analysis: industry, governing, innovation and technological trends; factors impacting development; drawbacks, SWOT.
6-7 year performance forecasts: major segments covering applications, top products and geographies.
Competitive landscape reporting: market leaders and important players, competencies and capacities of these companies in terms of production as well as sustainability and prospects.


Premium Report: Details

Pages: 300
Tables: 450
Charts / Figures: 21
Companies covered: 15
Countries covered: 22

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