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Electrical Steel Market: Global Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2017 to 2021 and Forecast 2022 to 2028

Electrical Steel Market: Global Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2017 to 2021 and Forecast 2022 to 2028

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Electrical Steel Market: By Product Type (Non-Grain-Oriented Electrical Steel, Grain-Oriented Electrical Steel), By Application (Transformers, Electric Motors, Inductors, Generators, Alternators), By End User (Energy, Automotive, Hybrid Electronic Vehicles (HEVs), Electronic Vehicles (EVs), Manufacturing, Household Appliances) and Geography

 

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Report

Description

Electrical Steel Market size was valued at USD 35.6 billion in 2021. It is expected to reach a value of USD 49.8 billion by 2028, growing at a CAGR of 4.9% during the forecast period from 2022 to 2028. The global market provides a detailed overview of the Electrical Steel Market, which has been segmented by product type, application and end user. By product type, the electrical steel market has been segmented into Non-Grain-Oriented Electrical Steel, Grain-Oriented Electrical Steel. The non-grain-oriented electrical steel segment is likely the most significant and fastest-growing segment in terms of product type. By application, the electrical steel market has been segmented into Transformers, Electric Motors, Inductors, Generators, Alternators. The transformers segment holds a significant revenue share in the market. Based on the end user, the electrical steel is segmented into Energy, Automotive, Hybrid Electronic Vehicles (HEVs), Electronic Vehicles (EVs), Manufacturing, Household Appliances. According to precision business insights, the manufacturing segment is predicted to register the fastest growth rate during the forecast period.

 

Key development:

In May 2021, JFE Steel Corporation signed a memorandum of understanding to conduct a feasibility study with JSW Steel Limited (JSW) to establish a grain oriented electrical steel sheet manufacturing and sales joint-venture company in India.

Electric Motors

MARKET SUMMARY
-
4.9% CAGR
  • Study Period– 2022 – 2028
  • Base Year– 2021
  • CAGR– 4.9%
  • Largest Market– Asia Pacific
  • Fastest Growing Market– Asia Pacific

Electric Motors

  • global minerals market report gives a comprehensive outlook on glycol ethers across the globe with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
  • The report on the global oil and gas chemicals market gives historical, current, and future market sizes (US$ Mn) on the basis of product, application, end-user, and region.
Key Players
  • Minerals Technologies Inc.
  • EP Minerals, LLC
  • Bentonite Performance Minerals, L
  • Imerys S.A
  • KaMin LLC
  • Thiele Kaolin Company
  • Sibelco
Electrical Steel Market Dynamics

One of the main drivers propelling market expansion is an increase in global electricity generation. As its name suggests, electrical steel has improved electrical characteristics, including high electrical resistivity, low hysteresis loss, and low magnetostriction. These characteristics make it extremely attractive for applications involving the generation, delivery, and consumption of electricity.

North-America Got Significant Share

Electrical Steel Market

Latin America
Latin-America
North-America
North-America
Europe
Europe
Asia Pacific
Asia-Pacific
Middle East
Middle East
Key

Key Features of the Report

  • The report provides granular level information about the market size, regional market share and forecast from 2022-2028
  • The report covers in-detail insights about the competitor’s overview, key findings and their key strategies
  • The report outlines drivers, restraints, challenges, and trends that are currently faced by the industry
  • The report tracks recent innovations, key developments and startup’s details that are working in the industry
  • The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
Electrical Steel Market Segmentation

segmentation-block-image

By Product Type

    •  Non-Grain-Oriented Electrical Steel
    • Grain-Oriented Electrical Steel
segmentation-block-image

By Application

    • Transformers
    • Electric Motors
    • Inductors
    • Generators
    • Alternators
segmentation-block-image

By End User

    • Energy
    • Automotive
    • Hybrid Electronic Vehicles (HEVs)
    • Electronic Vehicles (EVs)
    • Manufacturing
    • Household Appliances
Location

GEOGRAPHY

Frequently Asked Questions

The amusement park market is projected to expand at a CAGR of 4.9% during the forecast period

The major players in the global electrical steel market are ArcelorMittal (Luxembourg), POSCO (South Korea), Voestalpine AG (Austria), Baosteel (China), Nippon Steel & Sumitomo Metal Corporation (Japan), United States Steel Corporation (United States), SAIL (India), TATA Steel Limited (India), Thyssenkrupp AG (Germany), and JFE Steel Corporation (Japan).

 

​​The North America market is expected to witness the largest market share during the forecast period.

Report

Table Of Content

1. Executive Summary
2. Global Electrical Steel Market Introduction
2.1. Global Electrical Steel Market – Taxonomy
2.2. Global Electrical Steel Market –Definitions
2.2.1. By Product Type
2.2.2. By Application
2.2.3. By End User
2.2.4. By Region
3. Global Electrical Steel Market Dynamics
3.1. Drivers
3.2. Restraints
3.3. Opportunities/Unmet Needs of the Market
3.4. Trends
3.5. Global Electrical Steel Market Dynamic Factors – Impact Analysis
3.6. Global Electrical Steel Market – Competition Landscape
4. Global Electrical Steel Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028
4.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn )
4.2. Year-over-Year (Y-o-Y) Growth Analysis (%)
4.3. Market Opportunity Analysis
5. Global Electrical Steel Market, By Product Type, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn ) 
5.1. Non-Grain Oriented Electrical Steel
5.1.1. Semi-Processed Product
5.1.2. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn )
5.1.3. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
5.1.4. Market Opportunity Analysis
5.1.5. Fully Processed Product
5.1.6. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn )
5.1.7. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
5.1.8. Market Opportunity Analysis
5.2. Grain- Oriented Electrical Steel
5.2.1. Semi-Processed Product
5.2.2. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn )
5.2.3. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
5.2.4. Market Opportunity Analysis
5.2.5. Fully Processed Product
5.2.6. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn )
5.2.7. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
5.2.8. Market Opportunity Analysis
6. Global Electrical Steel Market, By Application, 2017 – 2021 and Forecast, 2022 – 2028  (Revenue, USD Mn ) 
6.1. Transformers
6.1.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn )
6.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
6.1.3. Market Opportunity Analysis
6.2. Electric Motors
6.2.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn )
6.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
6.2.3. Market Opportunity Analysis
6.3. Inductors
6.3.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn )
6.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
6.3.3. Market Opportunity Analysis
6.4. Generators
6.4.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn )
6.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
6.4.3. Market Opportunity Analysis
6.5. Alternators
6.5.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn )
6.5.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
6.5.3. Market Opportunity Analysis
7. Global Electrical Steel Market, By End User, 2017 – 2021 and Forecast, 2022 – 2028  (Revenue, USD Mn ) 
7.1. Energy
7.1.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn )
7.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
7.1.3. Market Opportunity Analysis
7.2. Automotive
7.2.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn )
7.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
7.2.3. Market Opportunity Analysis
7.3. Automotive
7.3.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn )
7.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
7.3.3. Market Opportunity Analysis
7.4. Hybrid Electronic Vehicles (HEVs)
7.4.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn )
7.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
7.4.3. Market Opportunity Analysis
7.5. Electronic Vehicles (EVs)
7.5.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn )
7.5.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
7.5.3. Market Opportunity Analysis
7.6. Manufacturing
7.6.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn )
7.6.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
7.6.3. Market Opportunity Analysis
7.7. Household Appliances
7.7.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn )
7.7.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
7.7.3. Market Opportunity Analysis
8. Global Electrical Steel Market Forecast, By Region, 2017 – 2021 and Forecast, 2022 – 2028  (Revenue, USD Mn ) 
8.1. North America
8.1.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn )
8.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
8.1.3. Market Opportunity Analysis
8.2. Latin America
8.2.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn )
8.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
8.2.3. Market Opportunity Analysis
8.3. Europe
8.3.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn )
8.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
8.3.3. Market Opportunity Analysis
8.4. Asia-Pacific
8.4.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn )
8.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
8.4.3. Market Opportunity Analysis
8.5. Middle East and Africa
8.5.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn )
8.5.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
8.5.3. Market Opportunity Analysis
8.6. Global Electrical Steel Market – Opportunity Analysis Index, By Product Type, By Application, By End User, and Region, 2022 – 2028
9. North America Global Electrical Steel Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn ) 
9.1. Product Type Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
9.1.1. Non-Grain-Oriented Electrical Steel
9.1.1.1. Semi Processed
9.1.1.2. Fully processed
9.1.2. Grain-Oriented Electrical Steel
9.1.2.1. Semi Processed
9.1.2.2. Fully processed
9.2. By Application Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
9.2.1. Transformers
9.2.2. Electric Motors
9.2.3. Inductors
9.2.4. Generators
9.2.5. Alternators
9.3. By End User Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
9.3.1. Energy
9.3.2. Automotive
9.3.3. Hybrid Electronic Vehicles (HEVs)
9.3.4. Electronic Vehicles (EVs)
9.3.5. Manufacturing
9.3.6. Household Appliances
9.4. By Country Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
9.4.1. United States
9.4.2. Canada
9.5. North America Global Electrical Steel Market – Opportunity Analysis Index, By Product Type, By Application, By End User and By Country 2022 – 2028
9.6. North America Global Electrical Steel Market Dynamics – Trends
10. Europe Global Electrical Steel Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn ) 
10.1. Product Type Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
10.1.1. Non-Grain-Oriented Electrical Steel
10.1.1.1. Semi Processed
10.1.1.2. Fully processed
10.1.2. Grain-Oriented Electrical Steel
10.1.2.1. Semi Processed
10.1.2.2. Fully processed
10.2. By Application Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
10.2.1. Transformers
10.2.2. Electric Motors
10.2.3. Inductors
10.2.4. Generators
10.2.5. Alternators
10.3. By End User Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
10.3.1. Energy
10.3.2. Automotive
10.3.3. Hybrid Electronic Vehicles (HEVs)
10.3.4. Electronic Vehicles (EVs)
10.3.5. Manufacturing
10.3.6. Household Appliances
10.4. By Country Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
10.4.1. Germany
10.4.2. United Kingdom
10.4.3. Spain
10.4.4. Italy
10.4.5. France
10.4.6. Russia
10.4.7. Norway
10.4.8. Rest of Europe
10.5. Europe Global Electrical Steel Market – Opportunity Analysis Index, By Product Type, By Application, By End User and By Country 2022 – 2028
10.6. Europe Global Electrical Steel Market Dynamics – Trends
11. Asia-Pacific Global Electrical Steel Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
11.1. Product Type Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
11.1.1. Non-Grain-Oriented Electrical Steel
11.1.1.1. Semi Processed
11.1.1.2. Fully processed
11.1.2. Grain-Oriented Electrical Steel
11.1.2.1. Semi Processed
11.1.2.2. Fully processed
11.2. By Application Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
11.2.1. Transformers
11.2.2. Electric Motors
11.2.3. Inductors
11.2.4. Generators
11.2.5. Alternators
11.3. By End User Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
11.3.1. Energy
11.3.2. Automotive
11.3.3. Hybrid Electronic Vehicles (HEVs)
11.3.4. Electronic Vehicles (EVs)
11.3.5. Manufacturing
11.3.6. Household Appliances
11.4. By Country Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
11.4.1. China
11.4.2. India
11.4.3. Japan
11.4.4. South Korea
11.4.5. Australia & New Zealand
11.4.6. Rest of Asia-Pacific
11.5. Asia-Pacific Global Electrical Steel Market – Opportunity Analysis Index, By Product Type, By Application, By End User and By Country 2022 – 2028
11.6. Asia-Pacific Global Electrical Steel Market Dynamics – Trends
12. Latin America Global Electrical Steel Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
12.1. Product Type Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
12.1.1. Non-Grain-Oriented Electrical Steel
12.1.1.1. Semi Processed
12.1.1.2. Fully processed
12.1.2. Grain-Oriented Electrical Steel
12.1.2.1. Semi Processed
12.1.2.2. Fully processed
12.2. By Application Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
12.2.1. Transformers
12.2.2. Electric Motors
12.2.3. Inductors
12.2.4. Generators
12.2.5. Alternators
12.3. By End User Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
12.3.1. Energy
12.3.2. Automotive
12.3.3. Hybrid Electronic Vehicles (HEVs)
12.3.4. Electronic Vehicles (EVs)
12.3.5. Manufacturing
12.3.6. Household Appliances
12.4. By Country Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
12.4.1. Brazil
12.4.2. Mexico
12.4.3. Argentina
12.4.4. Rest of Latin America
12.5. Latin America Global Electrical Steel Market – Opportunity Analysis Index, By Product Type, By Application, By End User and By Country 2021 – 2028
12.6. Latin America Global Electrical Steel Market Dynamics – Trends
13. Middle East and Africa Global Electrical Steel Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
13.1. Product Type Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
13.1.1. Non-Grain-Oriented Electrical Steel
13.1.1.1. Semi Processed
13.1.1.2. Fully processed
13.1.2. Grain-Oriented Electrical Steel
13.1.2.1. Semi Processed
13.1.2.2. Fully processed
13.2. By Application Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
13.2.1. Transformers
13.2.2. Electric Motors
13.2.3. Inductors
13.2.4. Generators
13.2.5. Alternators
13.3. By End User Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
13.3.1. Energy
13.3.2. Automotive
13.3.3. Hybrid Electronic Vehicles (HEVs)
13.3.4. Electronic Vehicles (EVs)
13.3.5. Manufacturing
13.3.6. Household Appliances
13.4. By Country Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
13.4.1. Middle East
13.4.2. South Africa
13.4.3. Israel
13.4.4. Argentina
13.4.5. Rest of Latin America
13.5. Middle East and Africa Electrical Steel Market – Opportunity Analysis Index, By Product Type, By Application, By End User and By Country 2022 – 2028
13.6. Middle East and Africa Global Electrical Steel Market Dynamics – Trends
14. Competition Landscape 
14.1. Strategic Dashboard of Top Market Players
14.2. Company Profiles (Introduction, Financial Analysis, Product & Service Offerings, Key Developments, Strategies, and SWOT Analysis)
14.2.1. ArcelorMittal (Luxembourg)
14.2.2. POSCO (South Korea)
14.2.3. Voestalpine AG (Austria)
14.2.4. Baosteel (China)
14.2.5. Nippon Steel & Sumitomo Metal Corporation (Japan)
14.2.6. United States Steel Corporation (United States)
14.2.7. SAIL (India)
14.2.8. TATA Steel Limited (India)
14.2.9. Thyssenkrupp AG (Germany)
14.2.10. JFE Steel Corporation (Japan),
14.2.11. Others
15. Research Methodology
16. Key Assumptions and Acronyms
Report

Company Profile

  • ArcelorMittal (Luxembourg)
  • POSCO (South Korea)
  • Voestalpine AG (Austria)
  • Baosteel (China)
  • Nippon Steel & Sumitomo Metal Corporation (Japan)
  • United States Steel Corporation (United States)
  • SAIL (India)
  • TATA Steel Limited (India)
  • Thyssenkrupp AG (Germany)
  • JFE Steel Corporation (Japan),

Description

Electrical Steel Market size was valued at USD 35.6 billion in 2021. It is expected to reach a value of USD 49.8 billion by 2028, growing at a CAGR of 4.9% during the forecast period from 2022 to 2028. The global market provides a detailed overview of the Electrical Steel Market, which has been segmented by product type, application and end user. By product type, the electrical steel market has been segmented into Non-Grain-Oriented Electrical Steel, Grain-Oriented Electrical Steel. The non-grain-oriented electrical steel segment is likely the most significant and fastest-growing segment in terms of product type. By application, the electrical steel market has been segmented into Transformers, Electric Motors, Inductors, Generators, Alternators. The transformers segment holds a significant revenue share in the market. Based on the end user, the electrical steel is segmented into Energy, Automotive, Hybrid Electronic Vehicles (HEVs), Electronic Vehicles (EVs), Manufacturing, Household Appliances. According to precision business insights, the manufacturing segment is predicted to register the fastest growth rate during the forecast period.

 

Key development:

In May 2021, JFE Steel Corporation signed a memorandum of understanding to conduct a feasibility study with JSW Steel Limited (JSW) to establish a grain oriented electrical steel sheet manufacturing and sales joint-venture company in India.

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