Summary

Electrical Steel Market
The electrical steel market was valued at $18.1 billion in 2023 and is projected to reach $31.5 billion by 2033, growing at a CAGR of 5.7% from 2024 to 2033.
Electrical steel or silicon steel is a specialized alloy produced for the manufacturing of electrical machines and devices. It exhibits unique magnetic properties and facilitates the transmission, generation, & conversion of electrical energy. The composition of electrical steel comprises around 1-4% silicon mixed with low-carbon steel and various alloying components. The major applications that use electrical steel include transformers, inductors, reactors, generators, home appliances, and electric vehicles.
The energy-efficiency attribute of electrical steel is a key driver of the market as manufacturers have become significantly aware of the importance of enhancing the efficacy and reducing the energy consumption of appliances. Furthermore, rapid surge in urbanization has fueled the requirement for electrical connections and equipment, thereby propelling the growth of the electrical steel market. In addition, rise in the utility of electrical steel in renewable energy projects is augmenting the market development significantly. A notable trend anticipated to acquire traction in coming years is the manufacturing of electrical steel through additive manufacturing. This technique is expected to offer the flexibility of tailoring intricate designs cost-effectively.

However, volatility in the prices of raw materials essential for the manufacturing of electrical steel, including silicon & iron, leads to unstable profits and hampers the development of the market. Moreover, the production of electrical steel exhibits a major impact on the environment owing to high carbon emissions, restraining the market growth considerably. Contrarily, constant efforts to minimize the emissions associated with steel production are projected to open new avenues for the market in the future. For instance, ThyssenKrupp—a German steel producer—has made a notable investment in a direct reduction plant, which utilizes hydrogen as a reducing agent and possesses a capacity of 3.5 million metric tons for annual carbon dioxide savings. Therefore, the adoption of such innovative techniques is anticipated to help manufacturing companies in achieving their environmental targets and present lucrative opportunities for market expansion.

Segment Review
The electrical steel market is segmented into type, application, end use, and region. On the basis of type, the market is bifurcated into grain-oriented electrical steel and non-grain-oriented electrical steel. Depending on application, it is divided into transformers, motors, inductors, generators, and others. According to end use, it is classified into energy & power generation, automotive, manufacturing, household appliances, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Key Findings
On the basis of type, the non-grain-oriented electrical steel segment held a high share of the market in 2023.
Depending on application, the transformers segment acquired a high stake in the market in 2023.
According to end use, the energy & power generation segment dominated the market in 2023.
Region wise, Asia-Pacific was the highest revenue generator in 2023.
Competition Analysis
The leading players operating in the global electrical steel market include POSCO, JFE Steel Corporation, Cleveland-Cliffs Inc., Baosteel Co., Ltd., NIPPON STEEL CORPORATION, Slovenian Steel Group, Aperam, Tata Steel, ArcelorMittal, and voestalpine Stahl GmbH. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships to strengthen their foothold in the competitive market.

Additional benefits you will get with this purchase are:
● Quarterly Update and* (only available with a corporate license, on listed price)
● 5 additional Company Profile of client Choice pre- or Post-purchase, as a free update.
● Free Upcoming Version on the Purchase of Five and Enterprise User License.
● 16 analyst hours of support* (post-purchase, if you find additional data requirements upon review of the report, you may receive support amounting to 16 analyst hours to solve questions, and post-sale queries)
● 15% Free Customization* (in case the scope or segment of the report does not match your requirements, 15% is equivalent to 3 working days of free work, applicable once)
● Free data Pack on the Five and Enterprise User License. (Excel version of the report)
● Free Updated report if the report is 6-12 months old or older.
● 24-hour priority response*
● Free Industry updates and white papers.

Possible Customization with this report (with additional cost and timeline, please talk to the sales executive to know more)
● Analysis of raw material in a product (by %)
● Investment Opportunities
● Product Benchmarking / Product specification and applications
● Supply Chain Analysis & Vendor Margins
● Upcoming/New Entrant by Regions
● Technology Trend Analysis
● Go To Market Strategy
● New Product Development/ Product Matrix of Key Players
● Regulatory Guidelines
● Additional company profiles with specific to client's interest
● Additional country or region analysis- market size and forecast
● Expanded list for Company Profiles
● Historic market data
● Key player details (including location, contact details, supplier/vendor network etc. in excel format)
● List of customers/consumers/raw material suppliers- value chain analysis
● SWOT Analysis
● Volume Market Size and Forecast
Key Market Segments
By Type
● Grain-Oriented Electrical Steel
● Non-Grain-Oriented Electrical Steel
○ Fully Processed
○ Semi-Processed
By Application
● Transformers
● Motors
● Inductors
● Generators
● Others
By End Use
● Energy Power Generation
● Automotive
● Manufacturing
● Household Appliances
● Others
By Region
● North America
○ U.S.
○ Canada
○ Mexico
● Europe
○ France
○ Germany
○ Italy
○ Spain
○ UK
○ Rest of Europe
● Asia-Pacific
○ China
○ Japan
○ India
○ South Korea
○ Australia
○ Rest of Asia-Pacific
● LAMEA
○ Brazil
○ South Africa
○ Saudi Arabia
○ Rest of LAMEA
● Key Market Players
○ POSCO
○ JFE Steel Corporation
○ Cleveland-Cliffs Inc.
○ Baosteel Co.,Ltd.
○ NIPPON STEEL CORPORATION
○ Slovenian Steel Group
○ Aperam
○ Tata Steel
○ ArcelorMittal
○ voestalpine Stahl GmbH

ページTOPに戻る

Table of Contents

CHAPTER 1: INTRODUCTION
1.1. Report Description
1.2. Key Market Segments
1.3. Key Benefits
1.4. Research Methodology
1.4.1. Primary Research
1.4.2. Secondary Research
1.4.3. Analyst Tools and Models
CHAPTER 2: EXECUTIVE SUMMARY
2.1. CXO Perspective
CHAPTER 3: MARKET LANDSCAPE
3.1. Market Definition and Scope
3.2. Key Findings
3.2.1. Top Investment Pockets
3.2.2. Top Winning Strategies
3.3. Porter's Five Forces Analysis
3.3.1. Bargaining Power of Suppliers
3.3.2. Threat of New Entrants
3.3.3. Threat of Substitutes
3.3.4. Competitive Rivalry
3.3.5. Bargaining Power among Buyers
3.4. Market Dynamics
3.4.1. Drivers
3.4.2. Restraints
3.4.3. Opportunities
CHAPTER 4: ELECTRICAL STEEL MARKET, BY TYPE
4.1. Market Overview
4.1.1 Market Size and Forecast, By Type
4.2. Grain-Oriented Electrical Steel
4.2.1. Key Market Trends, Growth Factors and Opportunities
4.2.2. Market Size and Forecast, By Region
4.2.3. Market Share Analysis, By Country
4.3. Non-Grain-Oriented Electrical Steel
4.3.1. Key Market Trends, Growth Factors and Opportunities
4.3.2. Market Size and Forecast, By Region
4.3.3. Market Share Analysis, By Country
4.3.5. Fully Processed
4.3.5.1. Market Size and Forecast
4.3.6. Semi-Processed
4.3.6.1. Market Size and Forecast
CHAPTER 5: ELECTRICAL STEEL MARKET, BY APPLICATION
5.1. Market Overview
5.1.1 Market Size and Forecast, By Application
5.2. Transformers
5.2.1. Key Market Trends, Growth Factors and Opportunities
5.2.2. Market Size and Forecast, By Region
5.2.3. Market Share Analysis, By Country
5.3. Motors
5.3.1. Key Market Trends, Growth Factors and Opportunities
5.3.2. Market Size and Forecast, By Region
5.3.3. Market Share Analysis, By Country
5.4. Inductors
5.4.1. Key Market Trends, Growth Factors and Opportunities
5.4.2. Market Size and Forecast, By Region
5.4.3. Market Share Analysis, By Country
5.5. Generators
5.5.1. Key Market Trends, Growth Factors and Opportunities
5.5.2. Market Size and Forecast, By Region
5.5.3. Market Share Analysis, By Country
5.6. Others
5.6.1. Key Market Trends, Growth Factors and Opportunities
5.6.2. Market Size and Forecast, By Region
5.6.3. Market Share Analysis, By Country
CHAPTER 6: ELECTRICAL STEEL MARKET, BY END USE
6.1. Market Overview
6.1.1 Market Size and Forecast, By End Use
6.2. Energy Power Generation
6.2.1. Key Market Trends, Growth Factors and Opportunities
6.2.2. Market Size and Forecast, By Region
6.2.3. Market Share Analysis, By Country
6.3. Automotive
6.3.1. Key Market Trends, Growth Factors and Opportunities
6.3.2. Market Size and Forecast, By Region
6.3.3. Market Share Analysis, By Country
6.4. Manufacturing
6.4.1. Key Market Trends, Growth Factors and Opportunities
6.4.2. Market Size and Forecast, By Region
6.4.3. Market Share Analysis, By Country
6.5. Household Appliances
6.5.1. Key Market Trends, Growth Factors and Opportunities
6.5.2. Market Size and Forecast, By Region
6.5.3. Market Share Analysis, By Country
6.6. Others
6.6.1. Key Market Trends, Growth Factors and Opportunities
6.6.2. Market Size and Forecast, By Region
6.6.3. Market Share Analysis, By Country
CHAPTER 7: ELECTRICAL STEEL MARKET, BY REGION
7.1. Market Overview
7.1.1 Market Size and Forecast, By Region
7.2. North America
7.2.1. Key Market Trends and Opportunities
7.2.2. Market Size and Forecast, By Type
7.2.3. Market Size and Forecast, By Application
7.2.4. Market Size and Forecast, By End Use
7.2.5. Market Size and Forecast, By Country
7.2.6. U.S. Electrical Steel Market
7.2.6.1. Market Size and Forecast, By Type
7.2.6.2. Market Size and Forecast, By Application
7.2.6.3. Market Size and Forecast, By End Use
7.2.7. Canada Electrical Steel Market
7.2.7.1. Market Size and Forecast, By Type
7.2.7.2. Market Size and Forecast, By Application
7.2.7.3. Market Size and Forecast, By End Use
7.2.8. Mexico Electrical Steel Market
7.2.8.1. Market Size and Forecast, By Type
7.2.8.2. Market Size and Forecast, By Application
7.2.8.3. Market Size and Forecast, By End Use
7.3. Europe
7.3.1. Key Market Trends and Opportunities
7.3.2. Market Size and Forecast, By Type
7.3.3. Market Size and Forecast, By Application
7.3.4. Market Size and Forecast, By End Use
7.3.5. Market Size and Forecast, By Country
7.3.6. France Electrical Steel Market
7.3.6.1. Market Size and Forecast, By Type
7.3.6.2. Market Size and Forecast, By Application
7.3.6.3. Market Size and Forecast, By End Use
7.3.7. Germany Electrical Steel Market
7.3.7.1. Market Size and Forecast, By Type
7.3.7.2. Market Size and Forecast, By Application
7.3.7.3. Market Size and Forecast, By End Use
7.3.8. Italy Electrical Steel Market
7.3.8.1. Market Size and Forecast, By Type
7.3.8.2. Market Size and Forecast, By Application
7.3.8.3. Market Size and Forecast, By End Use
7.3.9. Spain Electrical Steel Market
7.3.9.1. Market Size and Forecast, By Type
7.3.9.2. Market Size and Forecast, By Application
7.3.9.3. Market Size and Forecast, By End Use
7.3.10. UK Electrical Steel Market
7.3.10.1. Market Size and Forecast, By Type
7.3.10.2. Market Size and Forecast, By Application
7.3.10.3. Market Size and Forecast, By End Use
7.3.11. Rest Of Europe Electrical Steel Market
7.3.11.1. Market Size and Forecast, By Type
7.3.11.2. Market Size and Forecast, By Application
7.3.11.3. Market Size and Forecast, By End Use
7.4. Asia-Pacific
7.4.1. Key Market Trends and Opportunities
7.4.2. Market Size and Forecast, By Type
7.4.3. Market Size and Forecast, By Application
7.4.4. Market Size and Forecast, By End Use
7.4.5. Market Size and Forecast, By Country
7.4.6. China Electrical Steel Market
7.4.6.1. Market Size and Forecast, By Type
7.4.6.2. Market Size and Forecast, By Application
7.4.6.3. Market Size and Forecast, By End Use
7.4.7. Japan Electrical Steel Market
7.4.7.1. Market Size and Forecast, By Type
7.4.7.2. Market Size and Forecast, By Application
7.4.7.3. Market Size and Forecast, By End Use
7.4.8. India Electrical Steel Market
7.4.8.1. Market Size and Forecast, By Type
7.4.8.2. Market Size and Forecast, By Application
7.4.8.3. Market Size and Forecast, By End Use
7.4.9. South Korea Electrical Steel Market
7.4.9.1. Market Size and Forecast, By Type
7.4.9.2. Market Size and Forecast, By Application
7.4.9.3. Market Size and Forecast, By End Use
7.4.10. Australia Electrical Steel Market
7.4.10.1. Market Size and Forecast, By Type
7.4.10.2. Market Size and Forecast, By Application
7.4.10.3. Market Size and Forecast, By End Use
7.4.11. Rest of Asia-Pacific Electrical Steel Market
7.4.11.1. Market Size and Forecast, By Type
7.4.11.2. Market Size and Forecast, By Application
7.4.11.3. Market Size and Forecast, By End Use
7.5. LAMEA
7.5.1. Key Market Trends and Opportunities
7.5.2. Market Size and Forecast, By Type
7.5.3. Market Size and Forecast, By Application
7.5.4. Market Size and Forecast, By End Use
7.5.5. Market Size and Forecast, By Country
7.5.6. Brazil Electrical Steel Market
7.5.6.1. Market Size and Forecast, By Type
7.5.6.2. Market Size and Forecast, By Application
7.5.6.3. Market Size and Forecast, By End Use
7.5.7. South Africa Electrical Steel Market
7.5.7.1. Market Size and Forecast, By Type
7.5.7.2. Market Size and Forecast, By Application
7.5.7.3. Market Size and Forecast, By End Use
7.5.8. Saudi Arabia Electrical Steel Market
7.5.8.1. Market Size and Forecast, By Type
7.5.8.2. Market Size and Forecast, By Application
7.5.8.3. Market Size and Forecast, By End Use
7.5.9. Rest of LAMEA Electrical Steel Market
7.5.9.1. Market Size and Forecast, By Type
7.5.9.2. Market Size and Forecast, By Application
7.5.9.3. Market Size and Forecast, By End Use
CHAPTER 8: COMPETITIVE LANDSCAPE
8.1. Introduction
8.2. Top Winning Strategies
8.3. Product Mapping Of Top 10 Player
8.4. Competitive Dashboard
8.5. Competitive Heatmap
8.6. Top Player Positioning, 2023
CHAPTER 9: COMPANY PROFILES
9.1. POSCO
9.1.1. Company Overview
9.1.2. Key Executives
9.1.3. Company Snapshot
9.1.4. Operating Business Segments
9.1.5. Product Portfolio
9.1.6. Business Performance
9.1.7. Key Strategic Moves and Developments
9.2. JFE Steel Corporation
9.2.1. Company Overview
9.2.2. Key Executives
9.2.3. Company Snapshot
9.2.4. Operating Business Segments
9.2.5. Product Portfolio
9.2.6. Business Performance
9.2.7. Key Strategic Moves and Developments
9.3. Cleveland-Cliffs Inc.
9.3.1. Company Overview
9.3.2. Key Executives
9.3.3. Company Snapshot
9.3.4. Operating Business Segments
9.3.5. Product Portfolio
9.3.6. Business Performance
9.3.7. Key Strategic Moves and Developments
9.4. Baosteel Co., Ltd.
9.4.1. Company Overview
9.4.2. Key Executives
9.4.3. Company Snapshot
9.4.4. Operating Business Segments
9.4.5. Product Portfolio
9.4.6. Business Performance
9.4.7. Key Strategic Moves and Developments
9.5. NIPPON STEEL CORPORATION
9.5.1. Company Overview
9.5.2. Key Executives
9.5.3. Company Snapshot
9.5.4. Operating Business Segments
9.5.5. Product Portfolio
9.5.6. Business Performance
9.5.7. Key Strategic Moves and Developments
9.6. Slovenian Steel Group
9.6.1. Company Overview
9.6.2. Key Executives
9.6.3. Company Snapshot
9.6.4. Operating Business Segments
9.6.5. Product Portfolio
9.6.6. Business Performance
9.6.7. Key Strategic Moves and Developments
9.7. Aperam
9.7.1. Company Overview
9.7.2. Key Executives
9.7.3. Company Snapshot
9.7.4. Operating Business Segments
9.7.5. Product Portfolio
9.7.6. Business Performance
9.7.7. Key Strategic Moves and Developments
9.8. Tata Steel
9.8.1. Company Overview
9.8.2. Key Executives
9.8.3. Company Snapshot
9.8.4. Operating Business Segments
9.8.5. Product Portfolio
9.8.6. Business Performance
9.8.7. Key Strategic Moves and Developments
9.9. ArcelorMittal
9.9.1. Company Overview
9.9.2. Key Executives
9.9.3. Company Snapshot
9.9.4. Operating Business Segments
9.9.5. Product Portfolio
9.9.6. Business Performance
9.9.7. Key Strategic Moves and Developments
9.10. Voestalpine Stahl GmbH
9.10.1. Company Overview
9.10.2. Key Executives
9.10.3. Company Snapshot
9.10.4. Operating Business Segments
9.10.5. Product Portfolio
9.10.6. Business Performance
9.10.7. Key Strategic Moves and Developments