The global electrical steel market study presents an all in all compilation of the historical, current and future outlook of the market as well as the factors responsible for such a growth. With SWOT analysis, the business study highlights the strengths, weaknesses, opportunities and threats of each electrical steel market player in a comprehensive way. Further, the electrical steel market report emphasizes the adoption pattern of the electrical steel market across various industries.
Global demand for electrical steel is estimated to reach 15,900 kilo tonnes in 2018, according to Fact.MR valuation. The landscape of niche steel presents immense opportunities as their demand outsells that of steel consumption. Overall growth of the electrical steel market can be attributed to,
Growing interest of steel companies to accommodate the evolving trends in the electrical steel marketplace
Changing trade measures leading to declining exports and strengthening domestic electrical steel production
Considerable demand for electrical steel in the automotive industry, particularly in electrical vehicles
Fact.MR study finds a consistently rising consumption of electrical steel wherein an increase of almost 900 kilo tonnes between 2017 and 2018 and a y-o-y growth of 6.7% is estimated.
The electrical steel market report highlights the following players:
NIPPON STEEL & SUMITOMO METAL CORPORATION
JFE Steel Corporation
Cogent Power Limited
Baosteel Group Corporation
AK Steel Corporation
NICORE ELECTRICAL MANUFCTORY CO.,LTD
Emirates Transformer & Switchgear Limited
Phoenix Mecano AG
Crompton Greaves Limited
Leicong Industrial Co., Ltd
Request for the Sample of the Report: https://www.factmr.com/connectus/sample?flag=S&rep_id=2397
Semi-Processed NGOES Registers Nearly 58% Electrical Steel Consumption
Among fully and semi-processed NGOES variants, Fact.MR projects that semi-processed will account for a bulk of the total NGOES consumption in 2017 and the status-quo will continue in 2018.
In particular, the optimistic forecast of NGOES can be attributed to the increasing application of non-grain oriented electrical steel in the automotive industry, particularly electric and hybrid vehicles. Owing to the superior properties, commercial NGOES is used in multiple applications including small to mid-sized motors and transformers across end-user industries.
Fact.MR estimates that grain-oriented electrical steel (GOES) will hold the remaining market share and account for one-fourth of the global consumption in 2018. Application of GOES remains consolidated in larger distribution and power transformers utilized in the utilities sector.
The study shows that electrical steel consumption remains concentrated in electric motors and account for over 71% of the electrical steel used in 2017. Motors with power unit of 1000hp or more are estimated to lead the electrical steel utilization in electric motors. Lamination electrical steel, in particular, NGOES variants are highly sought after in high power motors.
Application of electrical steel in transformers will account for over one-fifth of the electrical steel consumption in 2018 of which almost 40% is used in transmission or power transformers. Buoyancy in the utilities sector and indispensable role of transmission transformers in power generation will maintain application of electrical steel in these transformers in 2018.
The electrical steel market report examines the operating pattern of each player – new product launches, partnerships, and acquisitions – has been examined in detail.
Important regions covered in the electrical steel market report include:
Middle East and Africa (GCC, South Africa)
APEJ (ASEAN, India)
Western Europe (France, Germany)
The electrical steel market report takes into consideration the following segments by product type:
Grain-Oriented Electrical Steel
Non-Grain Oriented Electrical Steel
The electrical steel market report contain the following applications:
APEJ to Continue Pole Position in Electrical Steel Market
The Fact.MR study estimates that APEJ continues to register significant consumption for electrical steel and will account for nearly 44% of the total demand in 2018. APEJ’s optimistic outlook for automotive and utilities sectors can be attributed for the leading consumption of electrical steel in the region.
Fact.MR also states that electrical steel marketplace is witnessing consolidation of domestic markets led by ongoing trade disputes. Initiated in the U.S., electrical steel market consolidation continues in Europe. Well aware of the scenario, investments by steelmakers are focused on improving electrical steel quality as well as the portfolio to meet emerging regional demands. Amid ongoing consolidation, steelmakers in the electrical steel marketplace are aiming at aligning their developments with evolving trends in global and domestic landscapes to ensure market sustenance.
Want to know more about the report or any specific requirement: https://www.factmr.com/connectus/sample?flag=AE&rep_id=2397
Why Choose Fact.MR?
Fact.MR follows a multi- disciplinary approach to extract information about various industries. Our analysts perform thorough primary and secondary research to gather data associated with the market. With modern industrial and digitalization tools, we provide avant-garde business ideas to our clients. We address clients living in across parts of the world with our 24/7 service availability.