Electric Steel Market, Global Outlook and Forecast 2023-2029

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 sheet: grain-oriented electrical steel sheet and non-oriented electrical steel sheet, and they are used for different applications. In this report we researched the two types of steel sheet respectively. Market competition is JFE Steel, NLMK Group, Posco, NSSMC, ThyssenKrupp, AK Steel, Nucor, Voestalpine, TATA Steel, ArcelorMittal, CSC, WISCO, Baosteel, Ansteel, Shougang, Benxi Steel, TISCO, Masteel, Stalprodukt S.A., ATI, are the leaders of the industry, and they hold key technologies and patents, with high-end customers.
This report aims to provide a comprehensive presentation of the global market for Electric Steel, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Electric Steel. This report contains market size and forecasts of Electric Steel in global, including the following market information:
Global Electric Steel Market Revenue, 2018-2023, 2024-2029, ($ millions)
Global Electric Steel Market Sales, 2018-2023, 2024-2029, (K MT)
Global top five Electric Steel companies in 2022 (%)
The global Electric Steel market was valued at US$ 26890 million in 2022 and is projected to reach US$ 35890 million by 2029, at a CAGR of 4.2% during the forecast period. The influence of COVID-19 and the Russia-Ukraine War were considered while estimating market sizes.
The global electrical Steel market is dominated by Baowu, ArcelorMittal, JFE Steel, Shougang, NSMC, NLMK Group, etc. The top six manufacturers account for about 55% of the market share.
China is the largest market for electrical steel with a market share of about 50%, followed by Europe with a market share of about 20%.
MARKET MONITOR GLOBAL, INC (MMG) has surveyed the Electric Steel manufacturers, suppliers, distributors and industry experts on this industry, involving the sales, revenue, demand, price change, product type, recent development and plan, industry trends, drivers, challenges, obstacles, and potential risks.
Total Market by Segment:
Global Electric Steel Market, by Type, 2018-2023, 2024-2029 ($ Millions) & (K MT)
Global Electric Steel Market Segment Percentages, by Type, 2022 (%)
    Improved Carbon Structural Steel
    Tool Steel
    Alloy Steel
    Others
Global Electric Steel Market, by Application, 2018-2023, 2024-2029 ($ Millions) & (K MT)
Global Electric Steel Market Segment Percentages, by Application, 2022 (%)
    Industrial
    Aerospace and Defence
    Municipal Infrastructure
    Others
Global Electric Steel Market, By Region and Country, 2018-2023, 2024-2029 ($ Millions) & (K MT)
Global Electric Steel Market Segment Percentages, By Region and Country, 2022 (%)
    North America
        US
        Canada
        Mexico
    Europe
        Germany
        France
        U.K.
        Italy
        Russia
        Nordic Countries
        Benelux
        Rest of Europe
    Asia
        China
        Japan
        South Korea
        Southeast Asia
        India
        Rest of Asia
    South America
        Brazil
        Argentina
        Rest of South America
    Middle East & Africa
        Turkey
        Israel
        Saudi Arabia
        UAE
        Rest of Middle East & Africa
Competitor Analysis
The report also provides analysis of leading market participants including:
Key companies Electric Steel revenues in global market, 2018-2023 (Estimated), ($ millions)
Key companies Electric Steel revenues share in global market, 2022 (%)
Key companies Electric Steel sales in global market, 2018-2023 (Estimated), (K MT)
Key companies Electric Steel sales share in global market, 2022 (%)
Further, the report presents profiles of competitors in the market, key players include:
    Baowu
    ArcelorMittal
    JFE Steel
    Shougang
    TISCO
    NSSMC
    NLMK Group
    AK Steel
    ThyssenKrupp
    Ansteel
    Masteel
    Posco
    Cogent(Tata Steel)
    Voestalpine
    Benxi Steel
    APERAM
    Nucor
    ATI
    Stalprodukt S.A.
    CSC
Outline of Major Chapters:
Chapter 1: Introduces the definition of Electric Steel, market overview.
Chapter 2: Global Electric Steel market size in revenue and volume.
Chapter 3: Detailed analysis of Electric Steel manufacturers competitive landscape, price, sales and revenue market share, latest development plan, merger, and acquisition information, etc.
Chapter 4: Provides the analysis of various market segments by type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 5: Provides the analysis of various market segments by application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 6: Sales of Electric Steel in regional level and country level. It provides a quantitative analysis of the market size and development potential of each region and its main countries and introduces the market development, future development prospects, market space of each country in the world.
Chapter 7: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.
Chapter 8: Global Electric Steel capacity by region & country.
Chapter 9: Introduces the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry.
Chapter 10: Analysis of industrial chain, including the upstream and downstream of the industry.
Chapter 11: The main points and conclusions of the report.