Global Electrical Steel Market 2024-2030

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    ELECTRICAL STEEL MARKET

     

    INTRODUCTION

     Electrical steel is a sort of specialty steel that is specially created to have certain magnetic properties, making it well-suited for use in a variety of electrical applications. It is also known as silicon steel or transformer steel. In transformers, electric motors, and other electromagnetic devices, it is principally used in the creation of magnetic cores.

     

    Electrical steel’s distinct magnetic characteristics are the result of careful alloying and processing. Low electrical conductivity, which lowers eddy current losses when alternating current (AC) runs through the material, is one of the key characteristics of electrical steel.

     

    In situations where high-frequency alternating currents are present, avoiding eddy current effects is crucial since they can produce heat and decrease the efficiency of electrical devices.

     

    Electrical steel mostly comes in two varieties:

     

    Electrical steel that has been processed to align the crystal grains in a certain direction, or grain orientation, is known as grain-oriented electrical steel (GOES), and it has improved magnetic characteristics in that direction. Power transformers, where the magnetic flux is primarily in one direction, frequently use grain-oriented steel.

     

    Non-Grain-Oriented Electrical Steel (NGOES): Non-Grain-Oriented Electrical Steel (NGOES) is utilized in places where the magnetic flux changes direction, like in electric motors, generators, and specific kinds of transformers. NGOES has a random grain orientation.

     

    An insulating coating is frequently applied to electrical steel to further reduce eddy current losses. It is possible for this coating to be an oxide or varnish. 

     

    The requirements of the particular application, such as the frequency of the AC current, the strength of the magnetic field, and the efficiency goals, determine the type and grade of electrical steel that should be used. Overall, electrical steel minimizes energy losses and maximizes performance, which is essential for the effective operation of various electrical and electromagnetic devices.

     

    ELECTRICAL STEEL MARKET SIZE AND FORECAST

     

    Infographical: Electrical Steel Market, Electrical Steel Market Size, Electrical Steel Market Trends,  Electrical Steel Market Forecast, Electrical Steel Market Risks, Electrical Steel Market Report, Electrical Steel Market Share

     

    The Global Electrical Steel Market accounted for $XX Billion in 2023 and is anticipated to reach $XX Billion by 2030, registering a CAGR of XX% from 2024 to 2030.

     

    ELECTRICAL STEEL MARKET NEW PRODUCT LAUNCH

    Launch of new electrical steel lines by Fives and Bouw. Steelmakers have begun to open new electrical steel production facilities as a result of a surge of investments made to meet the expanding needs of e-mobility.

     

    The largest steel producer in China, Bouw Steel Group, is making significant investments at its Shanghai facility to increase the production of high-performance electrical steel.

     

    Two new annealing and coating lines (ACL) and three new annealing and pickling lines (APL) have received thermal sections from Fives, a top engineering company with extensive experience in steel processing and technology. The first coil was produced on the lines intended to create premium non-grain oriented (NGO) grades for electric car motors.

     

    ELECTRICAL STEEL MARKET COMPANY PROFILE

     

    THIS ELECTRICAL STEEL MARKET REPORT WILL ANSWER THE FOLLOWING QUESTIONS

    1. How much Electrical Steel is manufactured per annum globally? Who are the sub-component suppliers in different regions?
    2. Cost breakup of a Global Electrical Steel and key vendor selection criteria
    3. Where is the Electrical Steel manufactured? What is the average margin per unit?
    4. Market share of Global Electrical Steel market manufacturers and their upcoming products
    5. The cost advantage for OEMs who manufacture Global Electrical Steel in-house
    6. key predictions for the next 5 years in the Global Electrical Steel market
    7. Average B-2-B Electrical Steel market price in all segments
    8. Latest trends in the Electrical Steel market, by every market segment
    9. The market size (both volume and value) of the Electrical Steel market in 2024-2030 and every year in between?
    10. Production breakup of the Electrical Steel market, by suppliers and their OEM relationship

     

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