Electrical steel Market, By Type (Grain Oriented Steel (CGRO), Non-Oriented Electrical Steel (CRNGO)),registering a CAGR of 6.28%

Electrical steel is a soft magnetic material with advanced electrical properties used in several applications such as small relays, generators, electric motors, solenoids, among others. It is also known as lamination steel or transformer steel or silicon steel. Electrical steels are generally used soft magnetic material for power applications. Electrical steel consists of non-oriented electrical steels as well as grain-oriented electrical steels. These materials are used to transmit, generate, and deliver electrical energy and electrical equipment.

Electrical steel is a type of steel specialized in producing certain magnetic properties resulting in low core loss and high permeability. The electrical steel market is anticipated to witness significant growth in the future. The unique properties of electrical steel are mainly dependent on the proportion of silicon present in it The addition of silicon enhances the resistivity, improves permeability, and reduces hysteresis loss. However, factors such as capital investment high production cost of electrical steel may hinder the growth of the electrical steel market.

View Detailed Report: https://www.databridgemarketresearch.com/reports/global-electrical-steel-market

Data Bridge Market Research analyses that the electrical steel market was valued at USD 15.41 billion in 2021 and is expected to reach USD 25.09 billion by 2029, registering a CAGR of 6.28% during the forecast period of 2022 to 2029. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, patent analysis and technological advancements.

Opportunities

Upcoming regulations and government support

Governmental bodies emphasize on the decrease of carbon emissions from automobiles. They support the use of electrical steel not only for electric vehicles but also for heavy construction equipment and passenger vehicles and conduct research and development (R&D) on new materials.

Usage of pre-engineered structures

Pre-engineered buildings (PEBs) use in the construction of metro stations, industrial buildings and warehouses which has opened up major opportunities for increase of electrical steel usage globally .

Some of the major players operating in the electrical steel market are:

ArcelorMittal (Luxembourg)

POSCO (South Korea)

Voestalpine AG (Austria)

Baosteel (China)

Nippon Steel Corporation (Japan)

United States Steel Corporation (US)

SAIL (India)

TATA Steel (India)

Thyssenkrupp AG (Germany)

JFE Steel Corporation (Japan)

Esteel (South Korea)

Hesteel Group Tangsteel Company (China)

ChinaSteel (Taiwan)

ESL Steel Ltd. (India)

Jiangsu Shagang Group Su ICP (China)

Union Electric Steel Corporation (US)

Hebei puyang iron and steel group (china)

Aperam (Luxemborg) and Sko-Die Inc (US)

Cleveland-Cliffs Inc. (US)

Slovenian Steel Group (Slovenia)

Electrical Steel Market Scope

The electrical steel market is segmented on the basis of type, thickness, core losses, flux density, application and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Type

Grain Oriented Steel (CGRO)

Non-Oriented Electrical Steel (CRNGO)

 Thickness

0.23 MM

0.27 MM

0.30 MM

0.35 MM

0.5 MM

0.65 MM

Others

 Core Losses

Less Than 0.9 w/kg

0.90 w/kg to 0.99 w/kg

w/kg to 1.29 w/kg

1.30 w/kg to 1.39 w/kg

Above1.39 w/kg

 Flux Density

Less Than 1.65 Tesla

1.65 Tesla to 1.69 Tesla

1.69 Tesla to 1.73 Tesla

1.73 Tesla to 1.76 Tesla

Above 1.76 Tesla

 Application

Transformers

Inductors

Battery

Shunt Reactors

Convertors

Motors

Electrical Ballasts

Power Generators

Wound Cores

Others

 End-User

Energy and Power

Household Appliances

Automobiles

Building and Construction

Others

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