Global Electric Vehicle Electrical Steel Market 2024-2030

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    ELECTRIC VEHICLE ELECTRICAL STEEL MARKET

     

    INTRODUCTION TO ELECTRIC VEHICLE ELECTRICAL STEEL MARKET

    Electrical steel is indeed a ferrous composition designed to achieve particular magnetic properties, such as a short fluctuation region leading to decreased power loss per cycle, low core loss, and high permeability.

     

    Electrical steel is often produced in cold-rolled strips less than 2 mm thick. Large strands are trimmed to form to produce cladding, which are stacked together to form the laminated cores of transformers and the armature and rotors of electric motors. Laminations can be completed using a punch and die or, in lesser numbers, with a laser or wire EDM.

     

    The creation of electrical steels originally prompted by the need for steels that could reduce thermal dissipation, a problem that results in energy waste.

     

    Since ferrous metals may intensify the magnetic properties of current-carrying loops, electrical steels are employed in the cores of electromagnetic devices such as motors, generators, and converters.

     

    Whenever steel is magnetised by an alternating current, energy losses known as iron losses occur. Grain-oriented electrical steel does indeed have a continuous grain orientation in its composition, allowing for higher flux density and magnetic saturation.

     

    Grain-oriented electrical steel would be most typically utilised in converters with a known and particular direction of the magnetic field.

     

    infographic: Electric Vehicle Electrical Steel Market, Electric Vehicle Electrical Steel Market Size, Electric Vehicle Electrical Steel Market Trends, Electric Vehicle Electrical Steel Market Forecast, Electric Vehicle Electrical Steel Market Risks, Electric Vehicle Electrical Steel Market Report, Electric Vehicle Electrical Steel Market Share

     

    In those kinds of compounds, the external magnetic field produces a magnetic flux density that is many orders of magnitude greater than that of air. In layman’s terms, softer ferroelectric nanoparticles boost the magnetic flux. The flux density of an electric motor is critical to its output.

     

     

    ELECTRIC VEHICLE ELECTRICAL STEEL MARKET DEVELOPMENTS AND INNOVATIONS

    S No Overview of Development Development Detailing Region of Development Possible Future Outcomes
    1 Shortage of electrical steel could impact electric vehicle deliveries in 2022 A looming lack of electrical steel could compound an ongoing component shortage faced by carmakers and lead to longer delivery delays for electric vehicles (EVs). Global Scale This would enhance better Technologies and production

     

    ELECTRIC VEHICLE ELECTRICAL STEEL MARKET DYNAMICS

    The frequencies of ordinary electric motors, such as those used in elevators or machine tools, is 50 hertz. High-speed propellers for hybrid electric vehicles, on the other hand, have revolutions of greater than 400 hertz.

     

    As a result, the objectives for electrical steel developers are clear: Soft magnetic materials with high flux density and low core inefficiencies for higher frequency are required for electric vehicles. We created electrical steel with leakage current that are 30% reduced as existing standard qualities.

     

    Increased demand from the power generating and transmitting businesses, as well as increased integration of renewable energies, are factors propelling the market of the electrical steel industry.

     

    The rising worldwide automotive manufacturing is a primary driver of the global electrical steel market’s expansion. Year after year, production is increasing. The use of electrical steel in automobiles improves fuel economy, which drives electrical steel use in the automobile industry.

     

    The growing demand for electric and hybrid vehicles is predicted to fuel the expansion of the electrical steel industry.

     

    The steel industry is primarily dependent on availability of raw materials for something like the manufacture and processing of steel products.

    Infographic: Global Electric Vehicle Electrical Steel Market, Global Electric Vehicle Electrical Steel Market Size, Global Electric Vehicle Electrical Steel Market Trends,  Global Electric Vehicle Electrical Steel Market Forecast,  Global Electric Vehicle Electrical Steel Market Risks, Global Electric Vehicle Electrical Steel Market Report, Global Electric Vehicle Electrical Steel Market Share

    Iron ore, coal, industrial gases, and ferroalloys are among the important raw resources required during production of steel. Steel manufacturing and steel refining processes can run smoothly if raw materials are competitively priced.

     

    In terms of both volume and revenue, Asia-Pacific is predicted to be the fastest expanding market. This is due to reasons such as the presence of the world’s largest market for electric cars, as well as an expanding governmental push and incentive scheme of operation, which are due to the presence of nations such as China, India, and Indonesia.

     

    ELECTRIC VEHICLE ELECTRICAL STEEL MARKET SEGMENTATION

    The Global Electric Vehicle Electrical Steel Market can be segmented into following categories for further analysis.

    Electric Vehicle Electrical Steel Market By Application

    • Entry Level Vehicles
    • Mid-Level Vehicles
    • Luxury Class Vehicles
    • Commercial Class Vehicles – LCV and HCV

     

    Electric Vehicle Electrical Steel Market By Product Type

    • Electric Motors
    • Electric Stators
    • Electric Rotors
    • Electric Actuators

     

    Electric Vehicle Electrical Steel Market By Technology Focus Type

    • Grain Oriented Electrical Steel
    • Non-Grain Oriented Electrical Steel

     

    Electric Vehicle Electrical Steel Market By Architecture Type

    • Hybrid Propulsion Vehicle
    • BEV

     

    Electric Vehicle Electrical Steel Market By Regional Classification

    • Asia Pacific Region – APAC
    • Middle East and Gulf Region
    • Africa Region
    • North America Region
    • Europe Region
    • Latin America and Caribbean Region

     

    ELECTRIC VEHICLE ELECTRICAL STEEL MARKET RECENT TECHNOLOGICAL TRENDS

    Maintaining greater performance as well as horsepower is a critical goal for EV engines. The electromagnetic characteristics of electrical steels are utilized as metal components for synchronous motors with permanent magnets, which are often employed as EV motor drives It has been demonstrated that electrical steels with significant flux density and minimal iron loss may achieve excellent motor efficiency and torque.

     

    Narrower electrical steels seem to be desirable when PWM excitation is considered to minimise increasing loss leading to increasing harmonics.

     

    Improving motor efficiency is a critical topic for boosting electrical vehicles performance and efficiency (EV). In principle, the magnetic characteristics of electrical steels have a considerable impact on motor losses, particularly iron loss and copper loss.

     

    To accomplish high torque and efficiency in EV traction motors, high material flux density while maintaining minimal iron loss is required.

     

    Furthermore, narrow gauge materials are useful for reducing iron losses in high frequency excitation circumstances, particularly whenever an inverters powered system is utilised, even though eddy current losses may be efficiently controlled.

     

    Traction motors are constructed in such a way that the engine achieves the required travelling efficiency inside an EV. These newly created electrical steels, which provide a diverse range of enhanced qualities, can help to increase EV efficiency by selecting the right composition for every drive system.

     

    Electrical steels with significant flux density with minimal power losses can achieve excellent motor efficiency and torque. Relatively thin electrical steels are desirable when PWM excitation is considered to minimise higher degradation owing to higher overtones.

     

     

    ELECTRIC VEHICLE ELECTRICAL STEEL MARKET COMPETITIVE LANDSCAPE

    Increasing popularity of high-performance, highly efficient, and low-emission automobiles, as well as stringent government rules governing vehicle emissions, are increasing demand for electric vehicles, and boosting item interest in car use.

     

    Electrical steel offers great erosion resistance from exhaust systems in automobiles, as well as lightweight flexibility while adhering to security criteria.

     

    This should open up new company opportunities and accelerate market growth throughout the predicted time frame. The growing global need for energy, as well as the rapid expansion of the electric car industry, could help to fuel the electrical steel sector.

     

    Tata Steel and its European Subsidiaries are focusing on the development of latest electrical steel technologies into the market. Magneti Marelli, a massive part manufacturer and distributor towards the world’s largest manufacturers, has chosen Hi-Lite as a vital component in its new high-performance electric motor for supercars.

     

    This electric motor must generate significant performance at extremely low speeds, which necessitates a strong magnetic flux between the stator and the rotor. However, it should also produce high power at high speeds in order to give rapid acceleration at velocities above 200 km/h without sacrificing economy.

     

    Hi-Lite 0.27 mm grade results in 30% fewer inefficiencies with higher angular velocities when compared to the best available 0.35 mm grades, along with a better compressive performance that results in a 6% torque increase when compared to normal grade levels. As a consequence, an electric motor with a maximum velocity of 16 000 rpm is created with 165 Horsepower.

     

    Aperam is also a leading developer and manufacturer of the electric vehicle focused electric steel in the market. It has been developing NGO based Electric Steel focusing on motor technologies.

     

    Non-Grain Oriented Electrical Steels with a High Frequency rating have high magnetic characteristics in all directions, making them an ideal materials for such a variety of applications such as electrical motors and compressors.

     

    When compared to conventional NGO, high permeability ratings have a greater magnetic induction certified value. Grain-oriented steels (Go Core) are primarily employed in power transmission and distribution transformers because they have optimal magnetic characteristics in the rolling direction.

     

    Non-oriented grain steels (NGO) have excellent magnetic properties throughout all orientations of something like the sheet line and are commonly used in electric motors, compressors, lighting system reactors, energy metres, and electric cars, among other applications.

     

    ELECTRIC VEHICLE ELECTRICAL STEEL MARKET COMPANIES PROFILED

     

    Sl no Topic
    1 Market Segmentation
    2 Scope of the report
    3 Abbreviations
    4 Research Methodology
    5 Executive Summary
    6 Introduction
    7 Insights from Industry stakeholders
    8 Cost breakdown of Product by sub-components and average profit margin
    9 Disruptive innovation in theIndustry
    10 Technology trends in the Industry
    11 Consumer trends in the industry
    12 Recent Production Milestones
    13 Component Manufacturing in US, EU and China
    14 COVID-19 impact on overall market
    15 COVID-19 impact on Production of components
    16 COVID-19 impact on Point of sale
    17 Market Segmentation, Dynamics and Forecast by Geography, 2022-2027
    18 Market Segmentation, Dynamics and Forecast by Product Type, 2022-2027
    19 Market Segmentation, Dynamics and Forecast by Application, 2022-2027
    20 Market Segmentation, Dynamics and Forecast by End use, 2022-2027
    21 Product installation rate by OEM, 2022
    22 Incline/Decline in Average B-2-B selling price in past 5 years
    23 Competition from substitute products
    24 Gross margin and average profitability of suppliers
    25 New product development in past 12 months
    26 M&A in past 12 months
    27 Growth strategy of leading players
    28 Market share of vendors, 2022
    29 Company Profiles
    30 Unmet needs and opportunity for new suppliers
    31 Conclusion
    32 Appendix
     
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