Electrical Steel Market

   2019-09-06       69        Business
Rating :
Electrical Steel Market is expected to reach US$ 39.45 Mn by 2026 in terms of revenue with CAGR of 8.5% in the forecasting period 2018-2026.

Electrical Steel Market is expected to reach US$ 39.45 Mn by 2026 in terms of revenue with CAGR of 8.5% in the forecasting period 2018-2026. Electrical steel is an alloy that contains iron and silicon. Electrical steel is also known as laminate steel or silicon steel, as silicon is added to it. Electrical steel is a type of speciality steel manufactured by modifying the magnetic properties of conventional steel to influence of high permeability. It is used in the manufacture of the core of power transformers, generators, inductors, etc. The electrical steel market is gaining momentum due to advancements in technology and the high efficiency of electrical steel. Electrical steel market has immense opportunities due to the increase in demand from the power sector.Electrical Steel Market

 

Driving demand from industrial and healthcare sectors is boosting the growth of the market. Applications in super cars or high-speed cars is a key segment from where is growth is expected in forecast period. Continuous advancement is technology is helping steel products to increase efficiency at the same time reducing the productions cost.

 

Electrical steel Market is segmented by type, application, end-use industry, and region. On the basis of type, Grain-oriented electrical steels market are iron-silicon magnetic alloys. These alloys are used to construct the cores of highly-efficient electric transformers due to their unique magnetic properties. Based on application, the transformers segment is estimated to dominate the application segment of the electrical steel market and is also projected to be the fastest-growing segment during the forecast period. In terms of end-user industry, increase in demand for energy on a global scale is expected to drive the demand for transformers over the next few years.

 

Asia-Pacific is the most widely populated region in the world, and subsequently witnesses a high demand for the consumption of electricity. The Asia Pacific constituted nearly 55% share of the global electrical steel market in 2017. China contributes a major market share in the Asia-pacific electrical steel market.

 

Some of the key prominent market players in the electrical steel market are Nippon Steel & Sumitomo Metal Corporation (NSSMC) Group, Shandong Iron and Steel Group Co Ltd, JFE Steel Corporation, SAIL (Steel Authority of India Limited), Shagang Group Inc., ArcelorMittal, Ansteel Group Corporation, Baosteel Group, POSCO, Voestalpine Group, Tata Steel Limited, United States Steel Corporation, Jindal Steel and Power Limited, and HBIS Group.

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The Scope of the Global Electrical Steel Market:

 

Global Electrical Steel Market by Type

 

  • Grain-oriented
  • Non-Grain-oriented

Global Electrical Steel Market by Application

 

  • Transformers
  • Motors
  • Inductors

Global Electrical Steel Market by End-Use Industry

 

  • Energy
  • Automobile
  • Manufacturing
  • Household Appliances

Global Electrical Steel Market by Geography

 

  • North America
  • Europe
  • Asia-Pacific
  • Middle East & Africa
  • Latin America

Key Players operating in the Global Electrical Steel Market:

 

  • Nippon Steel & Sumitomo Metal Corporation (NSSMC) Group
  • Shandong Iron and Steel Group Co Ltd
  • JFE Steel Corporation
  • SAIL (Steel Authority of India Limited)
  • Shagang Group Inc.
  • ArcelorMittal
  • Ansteel Group Corporation
  • Baosteel Group
  • POSCO
  • Voestalpine Group
  • Tata Steel Limited
  • United States Steel Corporation
  • Jindal Steel and Power Limited
  • HBIS Group
  • AllengencyTechnologies
  • Angang Steel Company Limited
  • China Steel Corporation
  • ElectrosteelLimited
  • EssarSteel
  • HebeiPuyang Iron And Steel Group
  • Jsw Steel
  • Steel Authority of India Limited
  • Tata Steel Limited

 

 

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About Maximize Market Research:

Maximize Market Research provides B2B and B2C research on 20,000 high growth emerging opportunities & technologies as well as threats to the companies across the Healthcare, Pharmaceuticals, Electronics & Communications, Internet of Things, Food and Beverages, Aerospace and Defense and other manufacturing sectors.

 

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Maximize Market Research provides B2B and B2C research on 20,000 high growth emerging opportunities & technologies as well as threats to the companies across the Healthcare, Pharmaceuticals, Electroni..


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