In a recent business intelligence study, Fact.MR presents the nitty-gritty of the global electrical steel market considering 2013-2017 as the historic year and 2018–2026 as the stipulated timeframe. The business report highlights the drivers, restraints, opportunities and trends affecting electrical steel market growth. Further, all the market shares associated with the market as well as the segments are expressed in terms of value and volume. 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 key players in the global electrical steel market report consist of
- Baosteel Group Corporation
- JFE Steel Corporation
- NIPPON STEEL & SUMITOMO METAL CORPORATION
- Cogent Power Limited
- Others
Each market player encompassed in the electrical steel market study is assessed according to its market share, production footprint, current launches, agreements, ongoing R&D projects, and business tactics. In addition, the electrical steel market study scrutinizes the strengths, weaknesses, opportunities and threats (SWOT) analysis.
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.
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The Fact.MR report tracks the electrical steel market for the period 2018-2026. According to the report, the electrical steel market is projected to grow at over 8% CAGR through 2026. 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.
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 marketplaceChanging trade measures leading to declining exports and strengthening domestic electrical steel productionConsiderable demand for electrical steel in the automotive industry, particularly in electrical vehiclesFact.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:Phoenix Mecano AGBaosteel Group CorporationAK Steel CorporationJFE Steel CorporationOthersThe electrical steel market report examines the operating pattern of each player – new product launches, partnerships, and acquisitions – has been examined in detail.The study opines that owing to the growing focus of electrical steelmakers to improve product quality, demand for non-grain oriented electrical steel (NGOES) will witness a steady rise.
Nearly 11,860 kilo tonnes of non-grain oriented electrical steel consumption is estimated while occupying over almost three-fourth of the global electrical steel demand in 2018.Request For a Sample Report - https://www.factmr.com/connectus/sample?flag=S_id=2397Semi-Processed NGOES Registers Nearly 58% Electrical Steel ConsumptionAmong 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.
