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In this report, LP Information covers the present scenario (with the base year being 2017) and the growth prospects of global Grain Oriented Electrical Steel market for 2018-2023.
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.
Supply and demand conditions of grain oriented electrical steel show polarization. In low-end products field, overcapacity has become more and more serious, but in the high-performance field, oriented electrical steel with high grade and magnetic induction, the market is in short supply. To seize a larger global market share, in the future, manufacturing companies will invest much more on R&D and the products will be closer to high-end field.
For regions, Asia, especially China, is the largest production and consumption region, followed by Europe and US. Japan and Korea also play important rule in the market, large quantity of Grain Oriented Electrical Steel is exported to the world every year. This situation will not change in the short term.
Over the next five years, LPI(LP Information) projects that Grain Oriented Electrical Steel will register a 2.1% CAGR in terms of revenue, reach US$ 7530 million by 2023, from US$ 6670 million in 2017.
This report presents a comprehensive overview, market shares, and growth opportunities of Grain Oriented Electrical Steel market by product type, application, key manufacturers and key regions.
To calculate the market size, LP Information considers value and volume generated from the sales of the following segments:
Segmentation by product type:
- High Magnetic Strength
- Domain Refinement
Segmentation by application:
- Power Generator
- Electric Motor
This report also splits the market by region:
- - United States
- - Canada
- - Mexico
- - Brazil
- - China
- - Japan
- - Korea
- - Southeast Asia
- - India
- - Australia
- - Germany
- - France
- - UK
- - Italy
- - Russia
- - Spain
- Middle East & Africa
- - Egypt
- - South Africa
- - Israel
- - Turkey
- - GCC Countries
The report also presents the market competition landscape and a corresponding detailed analysis of the major vendor/manufacturers in the market. The key manufacturers covered in this report:
- Baowu Group
- AK Steel
- NLMK Group
- JFE Steel
- Stalprodukt S.A.
- Cogent(Tata Steel)
In addition, this report discusses the key drivers influencing market growth, opportunities, the challenges and the risks faced by key manufacturers and the market as a whole. It also analyzes key emerging trends and their impact on present and future development.
- To study and analyze the global Grain Oriented Electrical Steel consumption (value & volume) by key regions/countries, product type and application, history data from 2013 to 2017, and forecast to 2023.
- To understand the structure of Grain Oriented Electrical Steel market by identifying its various subsegments.
- Focuses on the key global Grain Oriented Electrical Steel manufacturers, to define, describe and analyze the sales volume, value, market share, market competition landscape, SWOT analysis and development plans in next few years.
- To analyze the Grain Oriented Electrical Steel with respect to individual growth trends, future prospects, and their contribution to the total market.
- To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
- To project the consumption of Grain Oriented Electrical Steel submarkets, with respect to key regions (along with their respective key countries).
- To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.
- To strategically profile the key players and comprehensively analyze their growth strategies.