Tier 1 Players Hold over Half the Electrical Steel Market Revenue
The steel industry has witnessed hegemony of large players, especially in the last decade or so. However, in addition to the oversupply of steel, changing global trade dynamics have significantly impacted the conventional supply-demand scenario of steel, including electrical steel.
While the steel industry is witnessing an oversupply of low-cost steel, growing demand for electrical steel has led manufacturers to ramp up their production capacities. In particular, demand surge for cold rolled grain-oriented (CRGO) electrical steel is currently fulfilled by only a handful of Tier 1 players who have the capacity and technology for CRGO production. A 5x cost of electrical steel as compared to hot rolled coil steel used in car manufacturing and consumer durable explains the hegemony of Tier 1 players who hold half the global revenues in electrical steel marketplace.
Fact.MR’s study offers incisive insights on the electrical steel market. A summary of the report is available upon request.
Non-Grain Oriented Electrical Steel to Gain Momentum on Account of Electrification of Auto Industry
Owing to the excellent isotropic magnetic properties, lower iron loss and multidirectional magnetization, demand for non-grain oriented electrical steel (NGOES) is likely to witness a surge on the back of growing adoption of electric and hybrid vehicles that consume a considerable amount of non-grain oriented electrical steel. Increasing interest of industry giants in auto electrification and exponential growth in the production of hybrid and electric vehicles will present a considerable demand for non-grain oriented electrical steel in the future.
Capacity Expansions of Grain Oriented Electrical Steel (GOES) Variants
Among the two types of commercially distributed electrical steel – non-grain and grain-oriented variants, demand for grain-oriented electrical steel is gaining significant momentum. An extensive application of grain-oriented electrical steel in the power industry, particularly in distribution transformers and power transformers can be attributed to the demand surge.
The excellent anisotropic magnetic property of grain-oriented electrical steel to the rolling direction – perfectly serves the energy sector need of low power loss during efficient energy conversion. Identifying the considerable sales of GOES products within the category of most technologically advanced and highest-efficiency electrical steel, manufacturers are engaged in the expansion of GOES production capacities.
- In April 2018, ThyssenKrupp initiated production operation of grain-oriented electrical steel to meet the growing demand for the electrical steel variant in rapidly growing electricity demand in the country.
- AK Steel, the only provider of GOES products in the North America region and a significant exporter of grain-oriented electrical steel across the globe launched TRAN-COR® X – a new grain-oriented electrical steel product for high and ultra-high voltage power transformers in May 2018.
- In June 2018, Big River Steel, the leading steel producer and recycling specialist announced the investment of US$ 1.2 billion for the expansion of steel and electrical steel production facility. The investment is expected to explore possibilities in grain-oriented electrical steel production and a line of next-generation coating.
“Trade Disputes” to Spur Economies towards Strengthening Domestic Electrical Steel Production
Electrical steel markets in fast-growing economies have been import-oriented. Flooded with low-cost steel, exports from China dominated this supply chain, however, current trade disputes have spurred a courtship behavior across world economies to sustain their domestic steel industries. According to the World Steel Association data, approximately 17% of the global steel export is projected to witness diversion towards attractive steel markets.
Influenced by steel tariffs, economies are carving their own ways of increasing domestic production of electrical steel. For instance, India to address its heavy reliance on the electrical steel market, have begun to expand the production capacity wherein German conglomerate ThyssenKrupp India announced the production of India’s first CRGO electrical steel. EU Commission also initiated a safeguard investigation with regard to concerns of steel imports.
Demand for Electrical Steel to Concentrate in High Power Motors
Electrical steel laminations play indispensable role in efficient power transmission in electric equipment. Extensive application of electric motors across end-user industries translates into significant demand for electrical steel. Increasing reliance on small and mid-sized electric motors for multiple evolving power transmission demand, particularly in electric vehicles is likely to generate lucrative opportunities for electrical steel market in electric motor landscape. In addition, owing to superior magnetic properties of non-grain oriented electric steel, high power motors highly utilize this type of electrical steel.
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The electrical steel market report delivers an exhaustive analysis on the competition landscape of the electrical steel. The electrical steel market report’s competitive landscape section includes information on the identified key players in the electrical steel market. In addition, the electrical steel market report also delivers information on the company profiles in terms of organization market size, product offerings, global presence and notable business developments of key stakeholders in the electrical steel market.
Few of the profiled players in the electrical steel market include Novolipetsk Steel, Voestalpine Stahl GmbH, POSCO, Nippon Steel & Sumitomo Metal Corporation, ThyssenKrupp AG, JFE Steel Corporation, ArcelorMittal, Cogent Power Limited, Aperam, Baosteel Group, AK Steel Corporation, ATI, Schneider Electric, NICORE Electrical Manufactory Co.,Ltd., ABB, Emirates Transformer & Switchgear Limited, Phoenix Mecano AG, Crompton Greaves, Leicong Industrial Co., Ltd. and Höganäs AB.
Key strategies leveraged by electrical steel market manufacturers include mergers, acquisition, partnership and new product introduction. For instance, in July 2018, Tata Steel Europe and ThyssenKrupp AG has signed an agreement of joint venture to combine flat carbon steel and electrical steel operations of these two industry giants. Although the proposed merger continues to remain a topic of concern for European Commission, ahead of the merger, at the beginning of 2018, Tata Steel Europe announced plans to sell the assets of electrical steel business units. The divestment step is said to be a part of the strategy wherein future ThyssenKrupp merger impacts are avoided.
In September 2018, Steel Dynamics Inc., an Indiana-based steel maker completed the acquisition of Kentucky Electrical Steel assets. The acquisition is aimed at expanding production capacities, providing value-added offerings and high-through cycle utilization of existing steel mills.
On January 18, JSW Steel and its Japan steel manufacturer JFE Steel Corporation planned a joint bid for Bhushan steel in India. Besides these industry players, ArcelorMittal and Tata Steel were also interested in the assets of Bhushan Steel.
Aperam, a leading provider of stainless, speciality and electrical steel signed an agreement to acquire VDM Steel, a metal alloy specialist in April 2018 for 438 million Euros.
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Electrical steel is also known as silicon steel, lamination steel, relay steel or transformer steel. This specially tailored steel has distinct magnetic properties that result in low energy dissemination, low core loss and higher permeability. These properties enable application of electrical steel in the electrical and electronic industry for manufacture of transformers, motors and inductors.
About the Report
Fact.MR has compiled a report on the electrical steel market and published a report titled, “Electrical Steel Market Forecast, Trend Analysis & Competition Tracking - Global Market Insights 2018 to 2026.” The electrical steel market report covers all the vital facets of the market including drivers, restraints, trends and future opportunities that hold significant influence on the growth of the electrical steel market during the forecast period.
The electrical steel marketplace is thoroughly analyzed for supply-demand scenario and associated industry assessment. Base on this thorough analysis, the market structure of the electrical steel market is designed that has segmented the market based on product type, application type and key economic regions.
Based on product type, the electrical steel market included non-grain oriented and grain-oriented electrical steel types. In the grain-oriented electrical steel, Hi-Permeability (HiB), Conventional GOES and Laser Magnetic Domain Refinement (LMDR) – sub-types are included. In the non-grain oriented electrical steel type, fully processed and semi-processed subtypes are covered.
For different applications of electrical steel, the electrical steel market structure covers transformers, motors and inductors. Within transformers category, distribution, transmission and portable transformer sub-categories are included. Different horse powered (hp) motors including 1hp-100hp, 101hp-200hp, 201hp-500hp, 501hp-1000hp and above 1001ho motors.
Regional analysis of the electrical steel market covers the study of the electrical steel market in APEJ, North America, Western Europe, Latin America, Eastern Europe, Middle East & Africa and Japan.
Additional Questions Answered
The electrical steel market includes a thorough analysis of all the electrical steel market facets. In addition to the aforementioned insights, the electrical steel market also covers other vital aspects of the electrical steel market that may answer some of the bemusing questions of business professionals interested in the electrical steel market.
- Which product type of electrical steel – grain oriented or non-grain oriented electrical steel will remain highly sought after during the forecast period?
- What will be the revenues generated by the electrical steel market by the end of 2026?
- Which region will present leading demand for electrical steel during the forecast period 2018-2026?
- What will be the impacts of changing customs duties across world countries on the future production and consumption of electrical steel?
- What are the key strategies of steelmakers to sustain revenues in the electrical steel market in the future?
A thorough research approach followed during the course of the electrical steel market study is explained in depth in the research methodology section. During the market study, primary and secondary research approaches undertaken to derive an accurate market performance are also discussed thoroughly. Readers can have a comprehensive idea of the data and resources used in primary and secondary research approaches.
Request Methodology of this Report.
Fact.MR has complied a new study on electrical steel market and published a report titled, “Electrical Steel Market Forecast, Trend Analysis & Competition Tracking - Global Market Insights 2018 to 2026.” The electrical steel market report covers all the vital aspects of the electrical steel industry landscape that hold significant influence on the growth of the electrical steel market. Starting from prevailing industry trends to future opportunities, the electrical steel market report delivers information on the market progress and deliver the most credible and go-to forecast of the electrical steel market.
In addition, the electrical steel market report forecast is the result of an all-inclusive analysis of electrical steel market drivers and potential challenges which can help business professional to take a well-informed decisions.
To deliver a seamless understanding of electrical steel market, the report is divided into a total of 16 chapters that easily navigates the reader through the entire electrical steel marketplace. A brief snapshot of all chapters is provided below.
Chapter 1 - Global Electrical Steel Market- Executive Summary
The electrical steel market commences with the chapter of executive summary. Readers can fathom the overall performance of electrical steel market from the highlighted values of CAGR and market size of important electrical steel market segments.
Chapter 2 - Global Electrical Steel Market Introduction
In the ensuing chapter of the market introduction, the electrical steel market report delivers a brief yet affluent information of the electrical steel market that covers product overview, electrical steel market forecast – value and volume, pricing analysis, value/supply chain analysis and raw material price comparison among other information. The chapter also delivers a thorough study of market drivers, trends, opportunities and challenge present in the electrical steel market.
Chapter 3 - Global Electrical Steel Market, By Product Type
This chapter of the report provides the information on the electrical steel market performance for different product types including non-grain oriented electrical steel and grain oriented steel market. Non-grain oriented electrical steel and grain oriented electrical steel segments further include sub-categories of electrical steels that are highly consumed in the global electrical steel landscape.
Chapter 4 - Global Electrical Steel Market Analysis, By Application
In the electrical steel market report, this chapter covers the information on different applications of electrical steel. Electrical steel applications includes transformers, motors and inductors. The electrical steel market
Chapter 5 - Global Electrical Steel Market Analysis, By Region
The global electrical steel market forecast study is based on a thorough analysis of key regions including North America, Latin America, Eastern Europe, Western Europe, APEJ, Japan and MEA.
Chapter 6 - North America Electrical Steel Market Analysis
This chapter provides the performance of the electrical steel market in North America. The regional analysis is based on a thorough country-wise analysis and market assessment for all the electrical steel market segments. Country-wise analysis covered study of electrical steel market in the U.S. and Canada.
Chapter 7 - Latin America Electrical Steel Market Analysis
Latin America electrical steel market performance is provided in this chapter. The regional analysis covers regional trends of electrical steel market and in-depth country-wise analysis of Brazil, Mexico and rest of Latin America.
Chapter 8 - Eastern Europe Electrical Steel Market Analysis
The electrical steel market performance in Eastern Europe region is provided in this chapter. Eastern Europe electrical steel market analysis includes study of all the market segments and country-wise analysis in Poland, Russia and rest of Eastern Europe.
Chapter 9 - Western Europe Electrical Steel Market Analysis
This chapter delivers the electrical steel market performance for Western Europe region during forecast period 2018-2026. The regional forecast also includes exhaustive study of electrical steel market segments and country-wise analysis of BENELUX, France, Germany, Italy, Spain, United Kingdom and rest of Western Europe.
Chapter 10 - APEJ Electrical Steel Market Analysis
The chapter includes performance of electrical steel market for the forecast period 2018-2026. The regional analysis has been carried out for all the market segments. APEJ electrical steel market is also studied for ANZ, ASEAN, China, India and rest of APEJ.
Chapter 11 - Japan Electrical Steel Market Analysis
The electrical steel market performance for Japan is delivered in this chapter wherein prevailing trends in country’s steel and associated industries, future opportunities and challenges are covered.
Chapter 12 - Middle East & Africa Electrical Steel Market Analysis
The electrical steel market analysis foe Middle East & Africa (MEA) region is provided in this chapter. The MEA electrical steel market study covers analysis of all the market segments and country-wise market assessment in GCC, South Africa and rest of Middle East.
Chapter 13 - Competitive Landscape
In the competitive landscape section of the electrical steel market, readers can get information on the dashboard view of the key players operating in the electrical steel landscape. In addition, the chapter includes the section of company profiles that covers product offerings, market revenues, global presence and notable development of the profiled players in electrical steel market.
Chapter 14 - Research Methodology
In the section of research methodology, readers are provided with a detailed information on the methodology of research carried out during the course of electric steel market study. The section also explains the primary and secondary approaches taken during the electrical steel market study. In addition, the source of the data and information used to carry out primary and secondary research is also delivered to enable users to fathom credibility of the electrical steel market forecast derived in the report.
Chapter 15 - Assumptions and Acronyms Used
The chapter covers a comprehensive list of assumptions and acronyms used in the electrical steel market report. Information on assumptions provides the authenticity and credibility of the assumptions and facts derives in the electrical steel market report.
Chapter 16 - Disclaimer and Contact Information
In this chapter, readers can find disclaimers related to the analysis, assumptions and forecast values of electrical steel market. Contact information can help readers to get in contact with the domain-specific analysts working in the electrical steel industry domain.
1. Global Electrical Steel Market- Executive Summary
1.1. Market Overview
1.2. FMR Analyzed
2. Global Electrical Steel Market Introduction
2.1.1. Market Taxonomy
2.2. Product Overview
2.3. Manufacturing Process Outlook
2.4. Crude Steel Market Overview
2.5. Factors Affecting Global Electrical Steel Market
2.6. PESTLE Analysis
2.7. Electrical Steel Market Volume Analysis
2.7.1. Installed Base By Region
2.7.2. Replacement Rate and Lifecycle Analysis
2.8. Electrical Steel Market Pricing Analysis
2.8.1. Pricing Assumptions
2.8.2. Price Projections Per Region
2.9. Global Electrical Steel Market Forecast, 2015-2026
2.9.1. Market Scenario Forecast
2.9.2. Market Outlook
2.9.3. Absolute $ Opportunity
2.10. Value/ Supply Chain Analysis
2.10.1. Value Chain
2.10.2. Profitability Margins
2.10.3. List of Active Participants
184.108.40.206. Component Suppliers
220.127.116.11. Distributors / Retailers
2.11. Product-Cost Structure Analysis
2.11.1. Cost Structure For Electrical Steel Production
2.11.2. Electricity Cost Comparison
2.11.3. Labor Cost Comparison
2.11.4. Raw Material Price Comparison
2.11.5. Cost Structure by Country
2.12. Market Dynamics
2.12.4. Drivers Impact Analysis
18.104.22.168. Impact Analysis By Product type
22.214.171.124. Impact Analysis By Applications
126.96.36.199. Impact Analysis By Region
3. Global Electrical Steel Market, By Product Type
3.1. Summary By Product Type
3.2.1. Y-o-Y growth comparison, By Product Type
3.2.2. Basis Point Share (BPS) Analysis, By Product Type
3.3. Market Forecast by Product Type
3.3.1. Grain-Oriented Electrical Steel
188.8.131.52. Absolute $ Opportunity
184.108.40.206. Market Value & Volume Forecast
3.3.2. Non-Grain Oriented Electrical Steel
220.127.116.11.1. Absolute $ Opportunity
18.104.22.168.2. Market Value & Volume Forecast
22.214.171.124.1. Absolute $ Opportunity
126.96.36.199.2. Market Value & Volume Forecast
3.4. Market Attractiveness Analysis, By Product Type
3.5. Product Type Market Trends
4. Global Electrical Steel Market Analysis, By Application
4.1. Summary By Application
4.2.1. Y-o-Y growth comparison, By Application
4.2.2. Basis Point Share (BPS) Analysis, By Application
4.3. Market Forecast By Application
188.8.131.52.1. Absolute $ Opportunity
184.108.40.206.2. Market Value & Volume Forecast
220.127.116.11.1. Absolute $ Opportunity
18.104.22.168.2. Market Value & Volume Forecast
22.214.171.124.1. Absolute $ Opportunity
126.96.36.199.2. Market Value & Volume Forecast
188.8.131.52. 1hp - 100hp
184.108.40.206.1. Absolute $ Opportunity
220.127.116.11.2. Market Value & Volume Forecast
18.104.22.168. 101hp - 200hp
22.214.171.124.1. Absolute $ Opportunity
126.96.36.199.2. Market Value & Volume Forecast
188.8.131.52. 201hp - 500hp
184.108.40.206.1. Absolute $ Opportunity
220.127.116.11.2. Market Value & Volume Forecast
18.104.22.168. 501hp - 1000hp
22.214.171.124.1. Absolute $ Opportunity
126.96.36.199.2. Market Value & Volume Forecast
188.8.131.52. Above 1000hp
184.108.40.206.1. Absolute $ Opportunity
220.127.116.11.2. Market Value & Volume Forecast
18.104.22.168. Absolute $ Opportunity
22.214.171.124. Market Value & Volume Forecast
4.4. Market Attractiveness Analysis, By Application
4.5. Application Market Trends
5. Global Electrical Steel Market Analysis, By Region
5.1.1. Y-o-Y growth projection, By Region
5.1.2. Basis Point Share (BPS) Analysis, By Region
5.2. Market Forecast By Region
5.2.1. North America Market Volume & Value Forecast
5.2.2. Latin America Market Volume & Value Forecast
5.2.3. Eastern Europe Market Volume & Value Forecast
5.2.4. Western Europe Market Volume & Value Forecast
5.2.5. Asia Pacific Excluding Japan Market Volume & Value Forecast
5.2.6. Japan Market Volume & Value Forecast
5.2.7. Middle East & Africa Market Volume & Value Forecast
6. North America Electrical Steel Market Analysis
6.1.1. Y-o-Y growth projection, By Country
6.1.2. Basis Point Share (BPS) Analysis, By Country
6.2. North America Market Forecast
6.2.1. Market Volume and Value Forecast By Country
6.2.2. Market Volume and Value Forecast By Product Types
6.2.3. Market Volume and Value Forecast By Application
6.2.4. Market Attractiveness Analysis
126.96.36.199. By Country
188.8.131.52. By Product Type
184.108.40.206. By Application
6.3. Regional Trends
7. Latin America Electrical Steel Market Analysis
7.1.1. Y-o-Y growth projection, By Country
7.1.2. Basis Point Share (BPS) Analysis, By Country
7.2. Latin America Market Forecast
7.2.1. Market Volume and Value Forecast By Country
220.127.116.11. Rest of Latin America
7.2.2. Market Volume and Value Forecast By Product Types
7.2.3. Market Volume and Value Forecast By Application
7.2.4. Market Attractiveness Analysis
18.104.22.168. By Country
22.214.171.124. By Product Type
126.96.36.199. By Application
7.3. Regional Trends
8. Eastern Europe Electrical Steel Market Analysis
8.1.1. Y-o-Y growth projection, By Country
8.1.2. Basis Point Share (BPS) Analysis, By Country
8.2. Eastern Europe Market Forecast
8.2.1. Market Volume and Value Forecast By Country
188.8.131.52. Rest of Eastern Europe
8.2.2. Market Volume and Value Forecast By Product Types
8.2.3. Market Volume and Value Forecast By Application
8.2.4. Market Attractiveness Analysis
184.108.40.206. By Country
220.127.116.11. By Product Type
18.104.22.168. By Application
8.3. Regional Trends
9. Western Europe Electrical Steel Market Analysis
9.1.1. Y-o-Y growth projection, By Country
9.1.2. Basis Point Share (BPS) Analysis, By Country
9.2. Western Europe Market Forecast
9.2.1. Market Volume and Value Forecast By Country
22.214.171.124. United Kingdom
126.96.36.199. Rest of Western Europe
9.2.2. Market Volume and Value Forecast By Product Types
9.2.3. Market Volume and Value Forecast By Application
9.2.4. Market Attractiveness Analysis
188.8.131.52. By Country
184.108.40.206. By Product Type
220.127.116.11. By Application
9.3. Regional Trends
10. APEJ Electrical Steel Market Analysis
10.1.1. Y-o-Y growth projection, By Country
10.1.2. Basis Point Share (BPS) Analysis, By Country
10.2. Western Europe Market Forecast
10.2.1. Market Volume and Value Forecast By Country
10.2.1.5. Rest of APEJ
10.2.2. Market Volume and Value Forecast By Product Types
10.2.3. Market Volume and Value Forecast By Application
10.2.4. Market Attractiveness Analysis
10.2.4.1. By Country
10.2.4.2. By Product Type
10.2.4.3. By Application
10.3. Regional Trends
11. Japan Electrical Steel Market Analysis
11.1.1. Y-o-Y growth projection, By Country
11.1.2. Basis Point Share (BPS) Analysis, By Country
11.2. Japan Market Forecast
11.2.1. Market Volume and Value Forecast By Product Types
11.2.2. Market Volume and Value Forecast By Application
11.2.3. Market Attractiveness Analysis
18.104.22.168. By Country
22.214.171.124. By Product Type
126.96.36.199. By Application
11.3. Regional Trends
12. Middle East & Africa Electrical Steel Market Analysis
12.1.1. Y-o-Y growth projection, By Country
12.1.2. Basis Point Share (BPS) Analysis, By Country
12.2. Middle East & Africa Market Forecast
12.2.1. Market Volume and Value Forecast By Country
188.8.131.52. South Africa
184.108.40.206. Rest of Middle East & Africa
12.2.2. Market Volume and Value Forecast By Product Types
12.2.3. Market Volume and Value Forecast By Application
12.2.4. Market Attractiveness Analysis
220.127.116.11. By Country
18.104.22.168. By Product Type
22.214.171.124. By Application
12.3. Regional Trends
13. Competitive Landscape
13.1. Comparative Analysis
13.2. Production Scale Measurement
13.3. Competition Dashboard
13.4. Company Profiles
13.4.2. Financial Performance
13.4.3. Products/Brand Offerings
13.4.4. Recent Developments
13.4.5. SWOT Analysis
13.6. voestalpine AG
13.8. NIPPON STEEL & SUMITOMO METAL CORPORATION
13.9. thyssenkrupp AG
13.10. JFE Steel Corporation
13.12. Cogent Power Limited
13.14. Baosteel Group Corporation
13.15. AK Steel Corporation
13.17. Schneider Electric
13.18. NICORE ELECTRICAL MANUFCTORY CO.,LTD
13.20. Emirates Transformer & Switchgear Limited
13.21. Phoenix Mecano AG
13.22. Crompton Greaves Limited
13.23. Leicong Industrial Co., Ltd
13.24. Höganäs AB
14. Research Methodology
15. Assumptions and Acronyms Used
16. Disclaimer and Contact Information
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