Electrical steel known as silicon steel is a soft magnetic material which finds its uses in electrical power transformers, generators, inductors, motors, etc. The silicon content in electrical steels increases its electrical resistivity and therefore reduces eddy current losses. The addition of silicon in soft iron also leads to a drop in coercivity and an increase in resistivity. It is usually manufactured in the form of cold-rolled strips of thickness lesser than 2mm.
Electrical steel plays a crucial role in the generation, transmission, distribution, and consumption of electricity as strips of electrical steels are used to form laminated cores in the transformers. They are also used in the rotor and stators of electric motors. The growing consumption of electric motors in industrial and residential applications is anticipated to generate sustainable demand for electrical steel used in these motors to generate strong magnetic flux. The transition of the automotive sector towards clean mobility has led to an increase in the demand for electric vehicles. The growing sales figure for electric and hybrid electric vehicles are expected to fuel the demand for electric motors and subsequently lead to greater consumption of electrical steel in the forecast period.
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Top Key Players:
– AK Steel Corporation
– ArcelorMittal S.A
– Baosteel Group Corporation
– Cogent Power Limited
– JFE Steel Corporation
– Nippon Steel & Sumitomo Metal Corporation
– Novolipetsk Steel
– ThyssenKrupp AG
– Voestalpine AG
The Electrical Steel Market industry research report analyses the supply, sales, production, and market status comprehensively. Production market shares and sales market shares are analyzed along with the study of capacity, production, sales, and revenue. Several other factors such as import, export, gross margin, price, cost, and consumption are also analyzed under the section Analysis of Electrical Steel Market production, supply, sales and market status.
Reason to Buy:
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- Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
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