The global Electrical Steel market is forecast to reach USD 44.91 Billion by 2027, according to a new report by Reports and Data. The market is seeing an expanded interest from the electrical and automotive industries with the growing needs for headphones, gamepads and controllers, mobile phones, alternators, and electric motors. However, volatile prices of raw materials arising necessity for exploring and adopting other content as a substitute to reduce the overall cost of the operation and hence, will be hampering the demand of the soft magnetic material market. Rapid urbanization has changed the way of life of the individuals and, thus, has expanded the pervasiveness of the electronics industry for commercial purposes over a broad aspect, therefore, augmenting the demand for the market product. Furthermore, Electrical Steel possess a significant amount of eddy-current losses, which are further arising the need for exploring other aspects to overcome these losses encouraging the market for the adoption of substitute products anticipated to hinder the growth of the soft magnetic material market.

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Competitive Landscape:

Powder Metal Group (PMG), Vacuumschmelze GmBH & Co., Arnold Magnetic Technologies, GKN Sinter Metals, S.G. Technologies Ltd., Hitachi Metals Ltd., Steward Advanced Materials, Sintex A/S, Mate Co. Ltd., and Toshiba Materials Co. Ltd. have been profiled in the report. They are the major manufacturers of the product.

The players operating in the market have undertaken a number of strategies related to the market in the period 2017-2020. The key highlight is:

• In July 2019, the multinational steel company NLMK Group signed a long-term strategic partnership agreement with LTC Group, Italy, and the Middle East, a leading European manufacturer of transformer and power generation components. Under the deal, NLMK Group companies will regularly supply grain-oriented and non-grain-oriented electrical steel in Lipetsk and Yekaterinburg and provide technical support to the LTC group.

Market Overview:

The packaging industry is rapidly expanding in terms of revenue in the recent years, and is expected to register rapid revenue CAGR throughout the forecast period of 2022 to 2027. Rapid revenue growth is attributed to factors such as rising global population, changing lifestyle, increasing disposable income and rapid growth of the e-commerce sector. Increasing penetration of internet, social media, improving standard of living and rapid growth in the doorstep deliveries are some other factors boosting global market revenue growth. In addition, various manufacturers are focusing on offering sustainable packaging to cater to rising environmental concerns. Local dealers are focusing on innovative packaging to attract consumers.  

Key questions addressed in the report:

• What size is the global Electrical Steel market expected to reach over the forecast period?
• Which revenue CAGR is the global market expected to register throughout the forecast period?
• Which factors are expected to hamper global market growth during the forecast period?
• Which key factors are expected to driver global Electrical Steel market throughout the forecast period?
• Which application segment is expected to register fastest revenue CAGR between 2022 and 2027?
• Which region is expected to register fastest revenue CAGR throughout the forecast period?
• What are the key outcomes of Porter’s Five Forces analysis and SWOT analysis?

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Global Electrical Steel Market Segmentation:

Type Outlook:

• Soft Ferrite
• Electrical Steel
• Amorphous Steel
• Cold-Rolled Lamination Steel

Applications Outlook:

• Alternators
• Motors
• Transformers
• Solenoids

Regional Analysis covers:

• North America
  • S.
  • Canada
  • Mexico
• Europe
  • Germany
  • Italy
  • K.
  • Rest of EU
• Asia Pacific
  • India
  • China
  • Japan
  • South Korea
  • Rest of APAC
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America
• Middle East & Africa
  • Saudi Arabia
  • South Africa
  • A.E
  • Rest of MEA

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