Electrical steel is an alloy that contains iron and silicon. It can be manufactured by modifying the magnetic properties of steel for efficient magnetism and electricity conversion. Also called silicon steel, lamination steel, relay steel or transformer steel, this type of steel is very often used to build the cores of transformers as well as the stators of generators and motors. An electrical steel sheet is a functional material used as an iron core material for electrical equipment. There are two types of electrical steel: grain oriented electrical steel and non-grain oriented electrical steel, and they are used for different applications. In this report we researched grain oriented electrical steel.
Grain oriented electrical steels are iron-silicon magnetic alloys. These alloys are used to construct the cores of highly-efficient electric transformers due to their unique magnetic properties. Available in grades M-2, M-3, M-4, M-5 and M-6, with superior magnetic properties in the rolling direction, oriented steels are used in transformer cores. They are used in large generators and other apparatus when the design permits the directional magnetic characteristics to be used efficiently.
Grain oriented electrical steel usually has a silicon level of 3%. It is processed in such a way that the optimal properties are developed in the rolling direction, due to a tight control (proposed by Norman P. Goss) of the crystal orientation relative to the sheet. Grain oriented electrical steels are usually applied in transformers, rectifiers and so on.
Market Analysis and Insights: Global Grain Oriented Electrical Steel Market
Due to the COVID-19 pandemic, the global Grain Oriented Electrical Steel market size is estimated to be worth US$ 6642 million in 2022 and is forecast to a readjusted size of US$ 7537.4 million by 2028 with a CAGR of 2.1% during the forecast period 2022-2028. Fully considering the economic change by this health crisis, High Magnetic Strength accounting for % of the Grain Oriented Electrical Steel global market in 2021, is projected to value US$ million by 2028, growing at a revised % CAGR from 2022 to 2028. While Transformer segment is altered to an % CAGR throughout this forecast period.
The major players in global Grain Oriented Electrical Steel market include Baowu Group, Nippon Steel Corporation, AK Steel, etc. The top 3 players occupy about 50% shares of the global market. APAC and Europe are main markets, they occupy about 85% of the global market. High Magnetic Strength is the main type, with a share about 55%. Transformer is the main application, which holds a share about 70%.
In terms of production side, this report researches the Grain Oriented Electrical Steel capacity, production, growth rate, market share by manufacturers and by region (region level and country level), from 2017 to 2022, and forecast to 2028.
In terms of sales side, this report focuses on the sales of Grain Oriented Electrical Steel by region (region level and country level), by company, by Type and by Application. from 2017 to 2022 and forecast to 2028.
Global Grain Oriented Electrical Steel Scope and Segment
Grain Oriented Electrical Steel market is segmented by Type and by Application. Players, stakeholders, and other participants in the global Grain Oriented Electrical Steel market will be able to gain the upper hand as they use the report as a powerful resource. The segmental analysis focuses on production capacity, revenue and forecast by Type and by Application for the period 2017-2028.
Segment by Type
High Magnetic Strength
Conventional
Domain Refinement
Segment by Application
Transformer
Power Generator
Motor
Others
By Company
Baowu Group
Nippon Steel Corporation
AK Steel
NLMK Group
Shougang
ThyssenKrupp
JFE Steel
Posco
Stalprodukt S.A.
Ansteel
Production by Region
North America
Europe
China
Japan
South Korea
Consumption by Region
North America
U.S.
Canada
Europe
Germany
France
U.K.
Italy
Russia
Asia-Pacific
China
Japan
South Korea
India
Australia
Taiwan
Indonesia
Thailand
Malaysia
Philippines
Vietnam
Latin America
Mexico
Brazil
Argentina
Middle East & Africa
Turkey
Saudi Arabia
UAE