March 13, 2019 by Steve Blade
In order to dissert the market scenario prevailing across the sector, Fact.MR has evenly presented a new examination titled “Electric Steel market, to its extensive online repository. With all vital market facets enclosed into this single assessment, readers can learn about different market drivers, opportunities and trends which are likely to influence the overall market space for the Electrical Steel Market in the coming years. In addition, factors such as market size, Y-o-Y growth and revenue share are investigated so as to make this research highly authentic and reliable.
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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,
“Trade actions are the most prominent influencer of the electrical steel industry wherein every action of steelmakers is being driven by a need to improve steel margins. Major investments are focused on improving competitiveness by introducing product portfolio with higher quality and higher effective utilization. Along the same lines, niche steel variants have significant opportunities wherein industry profitability is rising consistently,” says a senior analyst at Fact.MR.
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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.
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.
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.
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