DUBLIN--(BUSINESS WIRE)--The "A Strategic Outlook for the Global Electrical Steel Market to 2028" report has been added to ResearchAndMarkets.com's offering.
Grain-oriented electrical steel (GOES) is one of the highly sophisticated steel products, and a handful producers are capable of manufacturing it. Almost all of the trade has been conducted between producers and end users while traders are almost nonexistent in the market. There is an excess supply of grain-oriented electrical steel and currently the overall market is in surplus.
Traditionally, demand for grain-oriented steel has mainly driven by transformers, which is closely tracking power infrastructure whilst exhibiting a moderate growth. This is going to change substantially in the long term. Demand for grain-oriented electrical steel is going to see significant growth in its existing stronghold-power market - whereas renewable such as wind and solar power would support demand for new transformers. New emerging growth pockets would be charging infrastructure for electric vehicles, growth in smart power infrastructure etc.
Non-grain oriented electrical steel is comparatively less sophisticated but has a wide range of applications ranging from electric motors to less efficient transformers. Demand is also expected to increase significantly due to growth in existing end-use sectors such as power generators and white goods. The automotive industry is one of the key areas where it uses electrical steel in motors. It is expected that with the increase in sales of electric vehicles the use of NGOES would increase further, particularly in the electric motor engine.
It is understood that the expected significant higher demand for both GOES and NGOES would not cause any supply shortage over the next few years. There have already been few announcements across the world about capacity additions in the US, China and India. However, there would be more need for capacity additions for electrical steel beyond 2025.
Key Aspects Covered
- How demand and supply of grain and non-grain oriented electrical steel would perform over the next ten years?
- Do we have enough production capacity of grain and non-grain oriented electrical steel currently?
- Electrical steel historical and forecasts prices
- How will the power market provide potential growth opportunities for grain-oriented electrical steel?
- How will the electric vehicle industry significantly increase demand for both grain and non-grain oriented electrical steel?
- What will be the major trends and developments in the electrical steel market and how they will impact the industry?
- How will the electrical steel market perform over the next ten years?
- What will be the main threats and opportunities in the industry?
- What will be the major drivers behind the increase in electrical steel demand globally and how various end-use sectors will impact the market?
- The current and future demand dynamics of electrical steel in different regions
- Electrical steel import and exports
- Detailed discussions on market strategies and competitive landscapes
Key Topics Covered
Chapter 1: Executive Summary
Chapter 2: Introduction and Methodology
Chapter 3: Asia
Chapter 4: Europe
Chapter 5: Central and South America
Chapter 6: North America
Chapter 7: Middle East, Africa and Oceania
Chapter 8: End-Use Sectors
Chapter 9: Competitive Landscape
For more information about this report visit https://www.researchandmarkets.com/research/mtpsqw/a_strategic?w=4