Apr 21, 2020   SOURCE: BusinessWire

Outlook on the Worldwide Electric Steel Industry to 2028 - Regulations in Favour of the Market Presents Opportunities - ResearchAndMarkets.com

The "Global Electric Steel Market 2020-2028" report has been added to ResearchAndMarkets.com's offering.

According to an analysis by the publisher, the global electric steel market is predicted to grow at a CAGR of 5.85% during the forecasting period 2020-2028.

The exploding urban populace, rising demand for transformers & motors, growing traction for electric vehicles and the increasing demand for electric steel by the power sector are driving the global market growth. Also, the favorable regulations by the authorities are expected to create market opportunities over the coming years. However, fluctuations in the cost of raw materials is a major restraint to the growth of the electric steel market. Moreover, safety constrains associated with electric steel are likely to pose a significant challenge to market growth.

The global market report covers the countries from North America, Europe, Asia-Pacific, Latin America and the Middle East and Africa.

According to the regional outlook, Asia-Pacific is expected to be the fastest-growing region for the electric steel market during the estimated period. The major reason for this growth is the increasing annual government investments towards the projects of electric steel in countries like India, Australia & New Zealand, ASEAN countries and the Rest of Asia-Pacific. Rapid urbanization in the Asian countries has led to an increase in the demand for electric steel, thereby accelerating the market growth in the region.

Companies Mentioned

  • Arcelormittal
  • Arnold Magnetic Technologies
  • Baosteel Group
  • Chinasteel
  • AK Steel Corporation
  • Nippon Steel Corporation
  • Orchids International
  • Posco
  • Sko-Die Inc
  • Sail (Steel Authority of India Limited)
  • Thyssenkrupp AG
  • BRS (Big River Steel)
  • Voestalpine AG
  • Tata Steel
  • JFE Steel Corporation

Key Topics Covered:

1. Global Electric Steel Market - Summary

2. Industry Outlook

2.1. Market Definition

2.2. Key Insights

2.2.1. Growth in Electricity Demand

2.2.2. Asia-Pacific Expected to Show Highest Growth During the Forecast Period

2.2.3. Transformers Captures Largest Market Share in Application Segment

2.3. Evolution & Transition of Electric Steel

2.4. Porter's Five Force Analysis

2.4.1. Threat of New Entrants

2.4.2. Threat of Substitute

2.4.3. Bargaining Power of Suppliers

2.4.4. Bargaining Power of Buyers

2.4.5. Threat of Competitive Rivalry

2.5. Key Impact Analysis

2.5.1. Cost

2.5.2. Application

2.5.3. Specifications

2.6. Market Attractiveness Index

2.7. Industry Components

2.7.1. Raw Material Suppliers

2.7.2. Manufacturers

2.7.3. Distributors

2.7.4. End-Users

2.8. Regulatory Framework

2.9. Market Drivers

2.9.1. Growth in Urban Population

2.9.2. Increased Demand for Transformers & Motors

2.9.3. Growth in Traction for Electric Vehicles

2.9.4. Increased Demand by Power Sector for Electric Steels

2.10. Market Restraints

2.10.1. Volatility and Fluctuations in Raw Material Prices

2.11. Market Opportunities

2.11.1. Regulations in Favour of Electric Steel Market

2.12. Market Challenges

2.12.1. Safety & Technological Constraints

3. Global Electric Steel Market Outlook - by Type

3.1. Grain-Oriented Steel

3.1.1. Fully Processed Grain-Oriented Steel

3.1.2. Semi Processed Grain-Oriented Steel

3.2. Non-Grain-Oriented Steel

4. Global Electric Steel Market Outlook - by Application

4.1. Transformers

4.1.1. Current Transformers

4.1.2. Power Transformers

4.1.3. Distribution Transformers

4.2. Motors

4.3. Inductors

4.4. Others

5. Global Electric Steel Market Outlook - by End-User

5.1. Energy

5.2. Automobiles

5.3. Manufacturing

5.4. Household Appliances

5.5. Others

6. Global Electric Steel Market - Regional Outlook

6.1. North America

6.2. Europe

6.3. Asia-Pacific

6.4. Latin America

6.5. Middle East and Africa

7. Competitive Landscape

8. Methodology & Scope

For more information about this report visit https://www.researchandmarkets.com/r/6uafxm