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,
Request for Sample Report for Detailed Insights @ https://www.factmr.com/connectus/sample?flag=S&rep_id=2397
Fact.MR study finds a consistently rising consumption of electrical steel wherein an increase of almost 900 kilo tonnes between 2017 and 2018 and a y-o-y growth of 6.7% is estimated.
“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.
The study opines that owing to the growing focus of electrical steelmakers to improve product quality, demand for non-grain oriented electrical steel (NGOES) will witness a steady rise. Nearly 11,860 kilo tonnes of non-grain oriented electrical steel consumption is estimated while occupying over almost three-fourth of the global electrical steel demand in 2018.
Semi-Processed NGOES Registers Nearly 58% Electrical Steel Consumption
Among fully and semi-processed NGOES variants, Fact.MR projects that semi-processed will account for a bulk of the total NGOES consumption in 2017 and the status-quo will continue in 2018.
In particular, the optimistic forecast of NGOES can be attributed to the increasing application of non-grain oriented electrical steel in the automotive industry, particularly electric and hybrid vehicles. Owing to the superior properties, commercial NGOES is used in multiple applications including small to mid-sized motors and transformers across end-user industries.
Fact.MR estimates that grain-oriented electrical steel (GOES) will hold the remaining market share and account for one-fourth of the global consumption in 2018. Application of GOES remains consolidated in larger distribution and power transformers utilized in the utilities sector.
Outlook Complete Research Report with TOC @ https://www.factmr.com/report/2397/electrical-steel-market
The study shows that electrical steel consumption remains concentrated in electric motors and account for over 71% of the electrical steel used in 2017. Motors with power unit of 1000hp or more are estimated to lead the electrical steel utilization in electric motors. Lamination electrical steel, in particular, NGOES variants are highly sought after in high power motors.
Application of electrical steel in transformers will account for over one-fifth of the electrical steel consumption in 2018 of which almost 40% is used in transmission or power transformers. Buoyancy in the utilities sector and indispensable role of transmission transformers in power generation will maintain application of electrical steel in these transformers in 2018.
APEJ to Continue Pole Position in Electrical Steel Market
The Fact.MR study estimates that APEJ continues to register significant consumption for electrical steel and will account for nearly 44% of the total demand in 2018. APEJ’s optimistic outlook for automotive and utilities sectors can be attributed for the leading consumption of electrical steel in the region.
Fact.MR also states that electrical steel marketplace is witnessing consolidation of domestic markets led by ongoing trade disputes. Initiated in the U.S., electrical steel market consolidation continues in Europe. Well aware of the scenario, investments by steelmakers are focused on improving electrical steel quality as well as the portfolio to meet emerging regional demands. Amid ongoing consolidation, steelmakers in the electrical steel marketplace are aiming at aligning their developments with evolving trends in global and domestic landscapes to ensure market sustenance.
Inquire More or Share Questions if any @ https://www.factmr.com/connectus/sample?flag=AE&rep_id=2397
The Fact.MR report tracks the electrical steel market for the period 2018-2026. According to the report, the electrical steel market is projected to grow at over 8% CAGR through 2026.
About Fact.MR
Fact.MR is a fast-growing market research firm that offers the most comprehensive suite of syndicated and customized market research reports. We believe transformative intelligence can educate and inspire businesses to make smarter decisions. We know the limitations of the one-size-fits-all approach; that’s why we publish multi-industry global, regional, and country-specific research reports.
Contact Us
FactMR
Suite 9884
27 Upper Pembroke Street,
Dublin 2, Ireland
Tel: +353-1-4434-232
Tel: +353-1-6111-593
Email: sales@factmr.com
The autologous fat grafting market is anticipated to witness substantial growth, with a robust compound annual growth rate (CAGR) of nearly 10% during the period from 2021 to 2031. Among various applications, breast augmentation emerges as the dominant segment, capturing a significant market share of over 45%. Autologous Fat Grafting, also known as fat transfer or lipofilling, has emerged as a ...
The smart drone services market is projected to attain a value of US$ 2.0 billion by 2023 and is anticipated to experience a compounded annual growth rate (CAGR) of 17.7% to achieve a market size of US$ 10.5 billion by 2033. The Smart Drone Services market has e...
The oil and gas pumps market is projected to reach USD 6,900 million in 2022 and is anticipated to exceed USD 10,800 million by 2032, exhibiting a compound annual growth rate (CAGR) of 4.9% during the period from 2022 to 2032. The global oil and gas pumps market...
The market for drone filming services is anticipated to attain a valuation of US$ 274.4 million by the year 2023. Over the forecast period spanning from 2023 to 2033, there is a substantial projected rise in global demand for drone filming services, with a compound...
