Impact Analysis of Covid-19

The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.

Electrical steel is also referred to as transformer steel and silicon steel. It has modified magnetic properties and is widely used across motors, inductors, transformer, battery, and welding equipment. It is also used for lamination methods in the cores of electrical products since they can reduce the energy loss, emit a low level of carbon dioxide, and improve the efficiency of the electric motors.

The global electrical steel market was estimated to account for US$ 21,575.90 Mn in terms of value and 16,800.00 Kilo Tons in terms of volume by the end of 2019.

Drivers:

Increasing demand for the product from consumer appliances such as refrigerators, air conditioners, and high power coolers is projected to foster market growth. Consumer appliances produced by using electrical appliances is environmentally friendly and saves energy up to 15% to 30%. Compressor motors, relays are appliances that can be produced by using electrical steel and they can be installed in cabins and rooms.

Growing demand for electric steel from the automotive industry to produce various automobile components is primarily fueling market growth. It is used to manufacture electrical power steering systems motors, core material for motors, and actuators. Moreover, the use of electrical steel also improves the fuel efficiency of the vehicles. Therefore, the growing demand for electrical steel from the automotive industry is projected to augment market growth.

Regionally, Asia Pacific dominated the global electrical steel market in 2019, reporting 52.4% market share in terms of revenue, followed by Europe and North America, respectively.

Figure 1. Global Electrical Steel Market, Revenue Share (%), By Region, 2019

Electrical Steel  | Coherent Market Insights

Market Restraints

The growing importance of nickel-iron alloys which are the more innovative and advanced solution as compared to electrical steel is expected to hinder the market growth. The magnetic properties of electrical steel are insufficient to the critical requirement of efficiency and precision. Moreover, nickel-iron alloys are widely used in the sensors, relays, and motor laminations in place of electrical steel.

Issues associated with the production of the electrical steel is expected to hamper the market growth of the electrical steel. A mechanical stress and strain are developed during the production process which weakens the magnetic property of electrical steel. This factor is expected to hamper the market growth of electrical steel.

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Electrical Steel Market Report Coverage

Report Coverage Details
Base Year: 2019 Market Size in 2019: US$ 21,575.90 Mn
Historical Data for: 2016 to 2019 Forecast Period: 2020 to 2027
Forecast Period 2020 to 2027 CAGR: 7.7% 2027 Value Projection: US$ 38,829.85 Mn
Geographies covered:
  • North America: U.S., Canada
  • Latin America: Brazil, Mexico, Rest of Latin America
  • Europe: Germany, U.K., Spain, France, Italy, Russia, Rest of Europe
  • Asia Pacific: China, India, Japan, Australia, Rest of Asia Pacific
  • Middle East & Africa: South Africa, GCC Countries, Rest of Middle East & Africa
Segments covered:
  • By Product Type: Grain-oriented Electrical Steel (GOES) and Non-grain Oriented Electrical Steel (NGOES)
  • By Application: Transformers, Motors and Inductors
Companies covered:

NLMK, Voestalpine AG, POSCO, Nippon Steel & Sumitomo Metal Corporation, Thyssenkrupp AG, JFE Steel Corporation, ArcelorMittal, Cogent Power Limited, Aperam, Baosteel Group Corporation, AK Steel Corporation, ATI, Schneider Electric, Nicore Electrical Manufactory Co., Ltd.

Growth Drivers:
  • Increasing demand for the product from consumer appliances such as refrigerators, air conditioners, and high power coolers
  • Growing demand for electric steel from the automotive industry to produce various automobile components
Restraints & Challenges:
  • Growing importance of nickel-iron alloys which are the more innovative and advanced solution as compared to electrical steel
  • Issues associated with the production of the electrical steel

Market Opportunities

Increasing surface coating of electrical steel with suitable materials in order to enhance the properties of electrical steel is expected to provide potential growth opportunities to the market. Coatings enhance the ability to withstand stress relief anneals, punch ability, and electrical resistance. Thus, increasing application of surface coatings of the electrical steel will favor the market growth over the forecast period.

The growing use of laser treatment for the reduction of core loss is expected to serve major growth opportunities in the near future. For example, Nd: YAG or carbon dioxide lasers are mainly used for industrial utilization to enhance core losses by 10%. Thus, the growing use of the laser treatment for improving core loss is expected to foster the market growth of the electrical steel over the forecast timeframe. 

Figure 2. Global Electrical Steel Market – Opportunity Analysis

Electrical Steel  | Coherent Market Insights

Market Trends/Key Takeaways

Increasing electrical resistivity which can be achieved by increasing the concentration of the silicon and aluminum on the electrical sheet is a major trend in the market. Many manufacturers are adopting this technology to improve the concentration of the silicon and aluminum by a surface deposition method. Therefore, the growing need for improving electrical resistivity for improving the microstructural properties of the metal is expected to augment the market growth.

Rising consumption of steel products across various end-user industries is a major trend in the market. Steel is widely used across various industries such as electrical, automotive, etc., for producing consumer goods. The market of electrical steel is also attributed to the growing disposable income of the consumer which is increasing their purchasing power, this in turn is boosting demand for consumer goods such as electrical appliances.

Global Electrical Steel Market - Impact of Coronavirus (Covid-19) Pandemic

The covid-19 pandemic has immensely affected electrical steel market, owing to decreasing demand for electrical steel from various end-use industry such as energy and automotive industry. For instance, according to the European Automobile Manufacturers’ Association (ACEA), in the European Union (EU), the total sales of new vehicles in the first two months of 2020 were 7.4% less than the same period in the previous year. The major countries in the EU, which faced a decline in demand in 2020 are Germany, France, Italy, and Spain. Over the next few years, electrical steel is expected to witness steady demand and the global market is expected to reach US$ 38,829.85 Mn by 2027, according to Coherent Market Insights’ Analysis.

Competitive Section:

Key players operating in the global electrical steel market are NLMK, Voestalpine AG, POSCO, Nippon Steel & Sumitomo Metal Corporation, Thyssenkrupp AG, JFE Steel Corporation, ArcelorMittal, Cogent Power Limited, Aperam, Baosteel Group Corporation, AK Steel Corporation, ATI, Schneider Electric, Nicore Electrical Manufactory Co., Ltd

Few Recent Developments

In July 2019, NLMK Group has signed a long-term strategic partnership agreement with LTC Group, a European manufacturer of components for transformers and power generation devices. Under this agreement, NLMK Group companies in Lipetsk and Yekaterinburg is going to supply grain-oriented and non-grain-oriented electrical steel and provide technical support to LTC Group.

Electrical steel sheets are used in the electromagnetic devices such as generators, transformer and motors. It is also referred as silicon steel, lamination steel or transformer steel, mainly used in automotive industries and electrical power distribution systems.  

Market Dynamics

The global electrical steel market is growing at substantial rate, owing to rise in consumption rate of electrical steel in motors and transformer. Furthermore, increasing sales of automotive vehicles is the key underlying factor supporting market growth. According to Organisation Internationale des Constructeurs d'Automobiles, in 2018, 95.05 million units of vehicles were sold globally, up from 93.8 million in 2016. This scenario is expected to provide lucrative growth to the global Electrical steel market over the forecast period.

Major players in the global electrical steel market are increasing their investment on innovative product launchings, research & development and marketing & promotional activities to capitalize on emerging trends in various end-use energy, household appliances and automobile industry. For instance, in 2018, AK Steel, launched electrical steel for use in high voltage and ultra-voltage power transformers, TRAN-COR X, belongs to high permeability grain oriented electrical steel (GOES) type. This scenario is expected to fuel the market during the forecast period.

Key features of the study:

  • This report provides in-depth analysis of global electrical steel market size (US$ Billion), and Compound Annual Growth Rate (CAGR %) for the forecast period (2020 – 2027), considering 2019 as the base year
  • It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market
  • This study also provides key insights into market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategies adopted by the leading players
  • It profiles leading players in the global electrical steel market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
  • Key companies covered as a part of this study includes NLMK, Voestalpine AG, POSCO, Nippon Steel & Sumitomo Metal Corporation, Thyssenkrupp AG, JFE Steel Corporation, ArcelorMittal, Cogent Power Limited, Aperam, Baosteel Group Corporation, AK Steel Corporation, ATI, Schneider Electric, Nicore Electrical Manufactory Co., Ltd.
  • Insights from this report would allow marketers and the management authorities of companies to make informed decision regarding their future product launches, Application up-gradation, market expansion, and marketing tactics
  • The global Electrical steel market report caters to various stakeholders in this industry including investors, suppliers, global electrical steel manufacturers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through various strategy matrices used in analysing the global Electrical steel market

Detailed Segmentation:

  • Global Electrical steel Market, By Type:
    • Grain-oriented
      • Hi-Permeability (HiB)
      • Conventional GOES
      • Laser magnetic domain refinement (LMDR)
    • Non-grain oriented
      • Fully Processed
      • Semi Processed
  • Global Electrical steel Market, By Application:
    • Transformer
      • Distribution
      • Transmission
      • Portable
    • Motors
      • 1hp - 100hp
      • 101hp – 200hp
      • 201hp – 500hp
      • 501hp-1000hp
      • Above 1001hp
    • Inductors
  • Global Electrical steel Market, By Region:
    • North America
      • U.S.
        • By Type
          • Grain-oriented
            • Hi-Permeability (HiB)
            • Conventional GOES
            • Laser magnetic domain refinement (LMDR)
          • Non-grain oriented
            • Fully Processed
            • Semi Processed
        • By Application
            • Transformer
              • Distribution
              • Transmission
              • Portable
            • Motors
              • 1hp - 100hp
              • 101hp – 200hp
              • 201hp – 500hp
              • 501hp-1000hp
              • Above 1001hp
            • Inductors
      • Canada
        • By Type
          • Grain-oriented
            • Hi-Permeability (HiB)
            • Conventional GOES
            • Laser magnetic domain refinement (LMDR)
          • Non-grain oriented
            • Fully Processed
            • Semi Processed
        • By Application
            • Transformer
              • Distribution
              • Transmission
              • Portable
            • Motors
              • 1hp - 100hp
              • 101hp – 200hp
              • 201hp – 500hp
              • 501hp-1000hp
              • Above 1001hp
            • Inductors
    • Latin America
      • Brazil
        • By Type
          • Grain-oriented
            • Hi-Permeability (HiB)
            • Conventional GOES
            • Laser magnetic domain refinement (LMDR)
          • Non-grain oriented
            • Fully Processed
            • Semi Processed
        • By Application
            • Transformer
              • Distribution
              • Transmission
              • Portable
            • Motors
              • 1hp - 100hp
              • 101hp – 200hp
              • 201hp – 500hp
              • 501hp-1000hp
              • Above 1001hp
            • Inductors
      • Mexico
        • By Type
          • Grain-oriented
            • Hi-Permeability (HiB)
            • Conventional GOES
            • Laser magnetic domain refinement (LMDR)
          • Non-grain oriented
            • Fully Processed
            • Semi Processed
        • By Application
            • Transformer
              • Distribution
              • Transmission
              • Portable
            • Motors
              • 1hp - 100hp
              • 101hp – 200hp
              • 201hp – 500hp
              • 501hp-1000hp
              • Above 1001hp
            • Inductors
      •  Rest of Latin America
        • By Type
          • Grain-oriented
            • Hi-Permeability (HiB)
            • Conventional GOES
            • Laser magnetic domain refinement (LMDR)
          • Non-grain oriented
            • Fully Processed
            • Semi Processed
        • By Application
            • Transformer
              • Distribution
              • Transmission
              • Portable
            • Motors
              • 1hp - 100hp
              • 101hp – 200hp
              • 201hp – 500hp
              • 501hp-1000hp
              • Above 1001hp
            • Inductors
    • Europe
      • France
        • By Type
          • Grain-oriented
            • Hi-Permeability (HiB)
            • Conventional GOES
            • Laser magnetic domain refinement (LMDR)
          • Non-grain oriented
            • Fully Processed
            • Semi Processed
        • By Application
            • Transformer
              • Distribution
              • Transmission
              • Portable
            • Motors
              • 1hp - 100hp
              • 101hp – 200hp
              • 201hp – 500hp
              • 501hp-1000hp
              • Above 1001hp
            • Inductors
      • Germany
        • By Type
          • Grain-oriented
            • Hi-Permeability (HiB)
            • Conventional GOES
            • Laser magnetic domain refinement (LMDR)
          • Non-grain oriented
            • Fully Processed
            • Semi Processed
        • By Application
            • Transformer
              • Distribution
              • Transmission
              • Portable
            • Motors
              • 1hp - 100hp
              • 101hp – 200hp
              • 201hp – 500hp
              • 501hp-1000hp
              • Above 1001hp
            • Inductors
      • U.K.
        • By Type
          • Grain-oriented
            • Hi-Permeability (HiB)
            • Conventional GOES
            • Laser magnetic domain refinement (LMDR)
          • Non-grain oriented
            • Fully Processed
            • Semi Processed
        • By Application
            • Transformer
              • Distribution
              • Transmission
              • Portable
            • Motors
              • 1hp - 100hp
              • 101hp – 200hp
              • 201hp – 500hp
              • 501hp-1000hp
              • Above 1001hp
            • Inductors
      • Russia
        • By Type
          • Grain-oriented
            • Hi-Permeability (HiB)
            • Conventional GOES
            • Laser magnetic domain refinement (LMDR)
          • Non-grain oriented
            • Fully Processed
            • Semi Processed
        • By Application
            • Transformer
              • Distribution
              • Transmission
              • Portable
            • Motors
              • 1hp - 100hp
              • 101hp – 200hp
              • 201hp – 500hp
              • 501hp-1000hp
              • Above 1001hp
            • Inductors
      • Rest of Europe
        • By Type
          • Grain-oriented
            • Hi-Permeability (HiB)
            • Conventional GOES
            • Laser magnetic domain refinement (LMDR)
          • Non-grain oriented
            • Fully Processed
            • Semi Processed
        • By Application
            • Transformer
              • Distribution
              • Transmission
              • Portable
            • Motors
              • 1hp - 100hp
              • 101hp – 200hp
              • 201hp – 500hp
              • 501hp-1000hp
              • Above 1001hp
            • Inductors
    • Asia Pacific
      • China
        • By Type
          • Grain-oriented
            • Hi-Permeability (HiB)
            • Conventional GOES
            • Laser magnetic domain refinement (LMDR)
          • Non-grain oriented
            • Fully Processed
            • Semi Processed
        • By Application
            • Transformer
              • Distribution
              • Transmission
              • Portable
            • Motors
              • 1hp - 100hp
              • 101hp – 200hp
              • 201hp – 500hp
              • 501hp-1000hp
              • Above 1001hp
            • Inductors
      • Japan
        • By Type
          • Grain-oriented
            • Hi-Permeability (HiB)
            • Conventional GOES
            • Laser magnetic domain refinement (LMDR)
          • Non-grain oriented
            • Fully Processed
            • Semi Processed
        • By Application
            • Transformer
              • Distribution
              • Transmission
              • Portable
            • Motors
              • 1hp - 100hp
              • 101hp – 200hp
              • 201hp – 500hp
              • 501hp-1000hp
              • Above 1001hp
            • Inductors
      • Australia
        • By Type
          • Grain-oriented
            • Hi-Permeability (HiB)
            • Conventional GOES
            • Laser magnetic domain refinement (LMDR)
          • Non-grain oriented
            • Fully Processed
            • Semi Processed
        • By Application
            • Transformer
              • Distribution
              • Transmission
              • Portable
            • Motors
              • 1hp - 100hp
              • 101hp – 200hp
              • 201hp – 500hp
              • 501hp-1000hp
              • Above 1001hp
            • Inductors
      • India
        • By Type
          • Grain-oriented
            • Hi-Permeability (HiB)
            • Conventional GOES
            • Laser magnetic domain refinement (LMDR)
          • Non-grain oriented
            • Fully Processed
            • Semi Processed
        • By Application
            • Transformer
              • Distribution
              • Transmission
              • Portable
            • Motors
              • 1hp - 100hp
              • 101hp – 200hp
              • 201hp – 500hp
              • 501hp-1000hp
              • Above 1001hp
            • Inductors
      • Rest of the Asia-pacific
        • By Type
          • Grain-oriented
            • Hi-Permeability (HiB)
            • Conventional GOES
            • Laser magnetic domain refinement (LMDR)
          • Non-grain oriented
            • Fully Processed
            • Semi Processed
        • By Application
            • Transformer
              • Distribution
              • Transmission
              • Portable
            • Motors
              • 1hp - 100hp
              • 101hp – 200hp
              • 201hp – 500hp
              • 501hp-1000hp
              • Above 1001hp
            • Inductors
    • Middle East & Africa
      • GCC
        • By Type
          • Grain-oriented
            • Hi-Permeability (HiB)
            • Conventional GOES
            • Laser magnetic domain refinement (LMDR)
          • Non-grain oriented
            • Fully Processed
            • Semi Processed
        • By Application
            • Transformer
              • Distribution
              • Transmission
              • Portable
            • Motors
              • 1hp - 100hp
              • 101hp – 200hp
              • 201hp – 500hp
              • 501hp-1000hp
              • Above 1001hp
            • Inductors
      • South Africa
        • By Type
          • Grain-oriented
            • Hi-Permeability (HiB)
            • Conventional GOES
            • Laser magnetic domain refinement (LMDR)
          • Non-grain oriented
            • Fully Processed
            • Semi Processed
        • By Application
            • Transformer
              • Distribution
              • Transmission
              • Portable
            • Motors
              • 1hp - 100hp
              • 101hp – 200hp
              • 201hp – 500hp
              • 501hp-1000hp
              • Above 1001hp
            • Inductors
      • Rest of Middle East & Africa
        • By Type
          • Grain-oriented
            • Hi-Permeability (HiB)
            • Conventional GOES
            • Laser magnetic domain refinement (LMDR)
          • Non-grain oriented
            • Fully Processed
            • Semi Processed
        • By Application
            • Transformer
              • Distribution
              • Transmission
              • Portable
            • Motors
              • 1hp - 100hp
              • 101hp – 200hp
              • 201hp – 500hp
              • 501hp-1000hp
              • Above 1001hp
            • Inductors
  • Company Profiles
    • NLMK
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Key Strategies
      • Recent Developments
      • Future Plans
  • Voestalpine AG
  • POSCO
  • Nippon Steel & Sumitomo Metal Corporation
  • ThyssenKrupp AG
  • JFE Steel Corporation
  • ArcelorMittal
  • Cogent Power Limited
  • Aperam
  • Baosteel Group Corporation
  • AK Steel Corporation
  • ATI
  • Schneider Electric
  • Nicore Electrical Manufactory Co., Ltd

 “*” marked represents similar segmentation in other categories in the respective

Table of Contents

  1. Research Objectives and Assumptions
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, By Type
      • Market Snippet, By Application
      • Market Snippet, By Region
    • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
        • Supply Side Drivers
        • Demand Side Drivers
        • Economic Drivers
      • Restraints
      • Market Opportunities
      • Regulatory Scenario
      • Industry Trend
      • PEST Analysis
      • PORTER’s Analysis
      • New Product Approvals/Launch
      • Promotion and Marketing Initiatives
  4. Global Electrical Steel Market - Impact of Coronavirus (Covid-19) Pandemic
    • Change in the Consumer Spending Pattern, by Geography
      • North America
      • Latin America
      • Asia-pacific
      • Europe
      • Middle East & Africa
  5. Global Electrical Steel Market, By Type, 2017 - 2027 (US$ Million & Kilo Tons)
    • Introduction
      • Market Share Analysis, 2017 and 2027 (%)
      • Y-o-Y Growth Analysis, 2020 - 2027
      • Segment Trends
    • Grain-oriented
      • Market Share Analysis, 2017 and 2027 (%)
      • Y-o-Y Growth Analysis, 2020 – 2027
      • Sub-segments Trends
        • Hi-Permeability (HiB)
          • Market Share Analysis, 2017 and 2027 (%)
          • Y-o-Y Growth Analysis, 2020 - 2027
        • Conventional GOES
          • Market Share Analysis, 2017 and 2027 (%)
          • Y-o-Y Growth Analysis, 2020 – 2027
        • Laser magnetic domain refinement (LMDR)
          • Market Share Analysis, 2017 and 2027 (%)
          • Y-o-Y Growth Analysis, 2020 – 2027
    • Non-grain oriented
      • Market Share Analysis, 2017 and 2027 (%)
      • Y-o-Y Growth Analysis, 2020 – 2027
      • Sub-segments Trends
        • Fully Processed
          • Market Share Analysis, 2017 and 2027 (%)
          • Y-o-Y Growth Analysis, 2020 - 2027
        • Semi Processed
          • Market Share Analysis, 2017 and 2027 (%)
          • Y-o-Y Growth Analysis, 2020 – 2027
  6. Global Electrical Steel Market, By Application, 2017 - 2027 (US$ Million & Kilo Tons)
    • Introduction
      • Market Share Analysis, 2017 and 2027 (%)
      • Y-o-Y Growth Analysis, 2020 - 2027
      • Segment Trends
    • Transformer
      • Market Share Analysis, 2017 and 2027 (%)
      • Y-o-Y Growth Analysis, 2020 – 2027
      • Sub-segment Trends
        • Distribution
          • Market Share Analysis, 2017 and 2027 (%)
          • Y-o-Y Growth Analysis, 2020 - 2027
        • Transmission
          • Market Share Analysis, 2017 and 2027 (%)
          • Y-o-Y Growth Analysis, 2020 - 2027
        • Portable
          • Market Share Analysis, 2017 and 2027 (%)
          • Y-o-Y Growth Analysis, 2020 - 2027
    • Motors
      • Market Share Analysis, 2017 and 2027 (%)
      • Y-o-Y Growth Analysis, 2020 – 2027
      • Sub-segment Trends
        • 1hp - 100hp
          • Market Share Analysis, 2017 and 2027 (%)
          • Y-o-Y Growth Analysis, 2020 - 2027
        • 101hp – 200hp
          • Market Share Analysis, 2017 and 2027 (%)
          • Y-o-Y Growth Analysis, 2020 – 2027
        • 201hp – 500hp
          • Market Share Analysis, 2017 and 2027 (%)
          • Y-o-Y Growth Analysis, 2020 – 2027
        • 501hp-1000hp
          • Market Share Analysis, 2017 and 2027 (%)
          • Y-o-Y Growth Analysis, 2020 – 2027
        • Above 1001hp
          • Market Share Analysis, 2017 and 2027 (%)
          • Y-o-Y Growth Analysis, 2020 – 2027
    • Inductors
      • Market Share Analysis, 2017 and 2027 (%)
      • Y-o-Y Growth Analysis, 2020 - 2027
  7. Global Electrical Steel Market, By Region, 2017- 2027 (US$ Million & Kilo Tons)
    • Introduction
      • Market Share Analysis, By Region, 2017 and 2027 (%)
      • Y-o-Y Growth Analysis, By Region, 2020 - 2027
    • North America
      • Market Share Analysis, By Country, 2017 and 2027 (%)
      • Y-o-Y Growth Analysis, By Country, 2020 - 2027
        • U.S.
          • Country Trends
          • Market Size and Forecast, By Type, 2017- 2027 (US$ Million & Kilo Tons)
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Million & Kilo Tons)
        • Canada
          • Country Trends
          • Market Size and Forecast, By Type, 2017- 2027 (US$ Million & Kilo Tons)
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Million & Kilo Tons)
    • Latin America
      • Market Share Analysis, By Country, 2017 and 2027 (%)
      • Y-o-Y Growth Analysis, By Country, 2020 - 2027
        • Brazil
          • Country Trends
          • Market Size and Forecast, By Type, 2017- 2027 (US$ Million & Kilo Tons)
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Million & Kilo Tons)
        • Mexico
          • Country Trends
          • Market Size and Forecast, By Type, 2017- 2027 (US$ Million & Kilo Tons)
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Million & Kilo Tons)
        • Argentina
          • Country Trends
          • Market Size and Forecast, By Type, 2017- 2027 (US$ Million & Kilo Tons)
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Million & Kilo Tons)
        • Rest of Latin America
          • Sub-region/Country Trends
          • Market Size and Forecast, By Type, 2017- 2027 (US$ Million & Kilo Tons)
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Million & Kilo Tons)
    • Europe
      • Market Share Analysis, By Country, 2017 and 2027 (%)
      • Y-o-Y Growth Analysis, By Country, 2020 - 2027
        • France
          • Country Trends
          • Market Size and Forecast, By Type, 2017- 2027 (US$ Million & Kilo Tons)
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Million & Kilo Tons)
        • Germany
          • Country Trends
          • Market Size and Forecast, By Type, 2017- 2027 (US$ Million & Kilo Tons)
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Million & Kilo Tons)
        • Italy
          • Country Trends
          • Market Size and Forecast, By Type, 2017- 2027 (US$ Million & Kilo Tons)
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Million & Kilo Tons)
        • Spain
          • Country Trends
          • Market Size and Forecast, By Type, 2017- 2027 (US$ Million & Kilo Tons)
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Million & Kilo Tons)
        • U.K.
          • Country Trends
          • Market Size and Forecast, By Type, 2017- 2027 (US$ Million & Kilo Tons)
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Million & Kilo Tons)
        • Russia
          • Country Trends
          • Market Size and Forecast, By Type, 2017- 2027 (US$ Million & Kilo Tons)
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Million & Kilo Tons)
        • Rest of Europe
          • Sub-region/Country Trends
          • Market Size and Forecast, By Type, 2017- 2027 (US$ Million & Kilo Tons)
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Million & Kilo Tons)
    • Asia Pacific
      • Market Share Analysis, By Country, 2017 and 2027 (%)
      • Y-o-Y Growth Analysis, By Country, 2020 - 2027
        • China
          • Country Trends
          • Market Size and Forecast, By Type, 2017- 2027 (US$ Million & Kilo Tons)
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Million & Kilo Tons)
        • India
          • Country Trends
          • Market Size and Forecast, By Type, 2017- 2027 (US$ Million & Kilo Tons)
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Million & Kilo Tons)
        • Japan
          • Country Trends
          • Market Size and Forecast, By Type, 2017- 2027 (US$ Million & Kilo Tons)
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Million & Kilo Tons)
        • Australia
          • Country Trends
          • Market Size and Forecast, By Type, 2017- 2027 (US$ Million & Kilo Tons)
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Million & Kilo Tons)
        • Rest of Asia Pacific
          • Sub-region/Country Trends
          • Market Size and Forecast, By Type, 2017- 2027 (US$ Million & Kilo Tons)
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Million & Kilo Tons)
    • Middle East & Africa
      • Market Share Analysis, By Country/ Sub-region, 2017 and 2027 (%)
      • Y-o-Y Growth Analysis, By Country/ Sub-region, 2020 - 2027
        • GCC
          • Country Trends
          • Market Size and Forecast, By Type, 2017- 2027 (US$ Million & Kilo Tons)
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Million & Kilo Tons)
        • South Africa
          • Country Trends
          • Market Size and Forecast, By Type, 2017- 2027 (US$ Million & Kilo Tons)
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Million & Kilo Tons)
        • Rest of Middle East & Africa
          • Sub-region/Country Trends
          • Market Size and Forecast, By Type, 2017- 2027 (US$ Million & Kilo Tons)
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Million & Kilo Tons)
  8. Competitive Landscape
    • Market Share Analysis
    • Company Profiles
      • NLMK
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments
        • Future Plans
      • Voestalpine AG
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments
        • Future Plans
      • POSCO
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments
        • Future Plans
      • Nippon Steel & Sumitomo Metal Corporation
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments
        • Future Plans
      • ThyssenKrupp AG
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments
        • Future Plans
      • JFE Steel Corporation
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments
        • Future Plans
      • ArcelorMittal
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments
        • Future Plans
      • Cogent Power Limited
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments
        • Future Plans
      • Aperam
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments
        • Future Plans
      • Baosteel Group Corporation
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments
        • Future Plans
      • AK Steel Corporation
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments
        • Future Plans
      • ATI
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments
        • Future Plans
      • Schneider Electric
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments
        • Future Plans
      • Nicore Electrical Manufactory Co., Ltd.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments
        • Future Plans
    • References
    • Research Methodology
    • About us and Sales Contact

* Browse 45 market data tables* and 30 figures* on "Global Electrical Steel Market” – global forecast to 2027

Frequently Asked Questions

The market for global electrical steel is forecast to surpass US$ 38,829.85 million by 2027 witnessing a CAGR of 7.7% between 2020 and 2027.
Increasing demand for the product from consumer appliances such as refrigerators, air conditioners, and high power coolers is fuelling the growth of the global electrical steel market.
Increasing electrical resistivity which can be achieved by increasing the concentration of the silicon and aluminum on the electrical sheet is a major trend in the market.
Growing importance of nickel-iron alloys which are the more innovative and advanced solution as compared to electrical steel is expected to hamper the growth the market during the forecast period.
Major players operating in the global electrical steel market include NLMK, Voestalpine AG, POSCO, Nippon Steel & Sumitomo Metal Corporation, Thyssenkrupp AG, JFE Steel Corporation, ArcelorMittal, Cogent Power Limited, Aperam, Baosteel Group Corporation, AK Steel Corporation, ATI, Schneider Electric, Nicore Electrical Manufactory Co., Ltd
The global electrical steel market was estimated to be valued around US$ 21,575.90 million in terms of revenue in 2019.
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