The Global Electrical Steel Market Is Valued At US$ 55.1 Billion By The End Of 2032

Fact.MR, in its latest business intelligence study, depicts the nuts and bolts of the global Electrical Steel market. The report presents detailed information regarding the drivers, restraints, opportunities and trends affecting market growth.

Sales of electrical steel accounted for nearly 12.3% of the global specialty steel market at the end of 2021. Industrial growth plays a crucial part in market’s growth over the forecast period. Each segment along with its sub-segment is analyzed in terms of value and volume. Further, the report elaborates the market behavior of each vendor operating in the Electrical Steel market.

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Key findings of the Electrical Steel market study:

• The report provides a present market outlook on Electrical Steel. Additionally, the Electrical Steel market share is anticipated to grow with a CAGR of 8.5% in the forecast period.
• Regional breakdown of the Electrical Steel market based on predefined taxonomy.
• Innovative manufacturing processes implemented by Electrical Steel vendors in detail.
• Region-wise and country-wise fragmentation of the Electrical Steel market to grasp the revenue, and growth outlook in these areas.
• Changing preferences among consumers across various regions and countries.
• Factors (Positive and Negative) impacting the growth of the global Electrical Steel market.
• Electrical Steel price, market share, and Trends forecast for assessment period 2022-2032

Segmentation of Electrical Steel Industry Research

·         By Product Type :

• • Grain-Oriented
  • Non-Grain Oriented

·         By Application :

• • Inductors
  • Motors
  • Transformers

·         By End-Use :

• • Automobiles
  • Manufacturing
  • Energy Generation
  • Household Appliances
  • Other End Uses

·         By Region :

• • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Oceania
  • MEA

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What makes this Research different from others?

• COVID- Impact analysis- The report includes details of the impact of the pandemic on the Electrical Steel market further including insights on the pre-COVID situation. Additionally, this report benefits in terms of post-COVID recovery prospects, changing consumer demands, and buying patterns valuable for Electrical Steel companies.
• Industrial trend analysis- The research covers recent trends in the field of Electrical Steel which are augmented with the applicable technologies and shifts in industrial processes. The scope for digital and industrial technologies is discussed in order to help client firms to understand the benefits and risks included in light of market trends.
• Electrical Steel Sustainability metrics- The rising concerns of environmentally friendly production and consumption are taken to next level in this research, as research is focused on emerging methods of ensuring sustainability. These insights include climate-friendly initiatives adopted by some players in the industry. Furthermore, details of manufacturers’ impact on carbon footprint are evaluated intend to make clients aware of their contribution to sustainable development goals.

Competitive Landscape

Eminent players includes Novolipetsk Steel, Voestalpine Stahl GmbH, POSCO, Nippon Steel, Sumitomo Metal Corporation, ThyssenKrupp AG, JFE Steel Corporation, among others.

Major key market players are focusing on safe and environment-friendly materials. The companies are focusing on developing products that comply with the safety norms of local markets. With effective research, development, and innovation, global manufacturers are working on the development of new products.

Further, the companies focus on cost reduction, improvement of existing products, process improvement, development of new manufacturing methods, quality assurance, and improvement of existing manufacturing methods to gain high-profit margins.

• In April 2022, POSCO started the construction of an electrical steel production facility. The steel manufacturer in South Korea plans to invest US$ 805 million in the construction of the plant. The facility will have an annual production capacity of 300,000 tons of NOES.
• In May 2021, JSW Steel and JFE Steel Corporation inked a memorandum of understanding (MoU) to carry out a feasibility study for the establishment of a GOES sheet manufacturing and sales joint-venture company in India.

Fact.MR has provided detailed information about the price points of key manufacturers of electrical steel positioned across regions, sales growth, production capacity, and speculative technological expansion, in the recently published report.

Market Players:

• Novolipetsk Steel
• Voestalpine Stahl GmbH
• POSCO
• Nippon Steel
• Sumitomo Metal Corporation
• ThyssenKrupp AG
• JFE Steel Corporation
• Cogent Power
• ArcelorMittal SA
• Aperam SA
• Baosteel Group
• AK Steel Holding Corp
• Allegheny Technologies Inc.
• Phoenix Mecano AG
• Leicong Industrial Co., Ltd.
• Nicore Electrical Manufactory Co. LTD.
• Steel Authority of India Limited

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