Electrical Steel Market
                     Electrical Steel Market with Future Business Opportunities and Top Competitor Analysis 
2027
Market Overview
Electrical steel is also referred to as transformer steel and silicon steel. It has modified magnetic 
properties and is widely used across motors, inductors, transformer, battery, and welding equipment.
It is also used for lamination methods in the cores of electrical products since they can reduce the 
energy loss, emit a low level of carbon dioxide, and improve the efficiency of the electric motors.
The global electrical steel market was estimated to account for US$ 21,575.90 Mn in terms of value
and 16,800.00 Kilo Tons in terms of volume by the end of 2019.
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Market Dynamics
The global electrical steel market is growing at substantial rate, owing to rise in consumption rate of
electrical steel in motors and transformer. Furthermore, increasing sales of automotive vehicles is 
the key underlying factor supporting market growth. According to Organisation Internationale des 
Constructeurs d'Automobiles, in 2018, 95.05 million units of vehicles were sold globally, up from 
93.8 million in 2016. This scenario is expected to provide lucrative growth to the global Electrical 
steel market over the forecast period.
Major players in the global electrical steel market are increasing their investment on innovative 
product launchings, research & development and marketing & promotional activities to capitalize 
on emerging trends in various end-use energy, household appliances and automobile industry. For 
instance, in 2018, AK Steel, launched electrical steel for use in high voltage and ultra-voltage power
transformers, TRAN-COR X, belongs to high permeability grain oriented electrical steel (GOES) 
type. This scenario is expected to fuel the market during the forecast period.
Detailed Segmentation:
•Global Electrical steel Market, By Type:
•Grain-oriented
•Hi-Permeability (HiB)
•Conventional GOES
•Laser magnetic domain refinement (LMDR)
•Non-grain oriented
•Fully Processed
•Semi Processed
Key companies covered as a part of this study includes NLMK, Voestalpine AG, POSCO, Nippon 
Steel & Sumitomo Metal Corporation, Thyssenkrupp AG, JFE Steel Corporation, ArcelorMittal, 
Cogent Power Limited, Aperam, Baosteel Group Corporation, AK Steel Corporation, ATI, 
Schneider Electric, Nicore Electrical Manufactory Co., 
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