Electrical steel market size and outlook report, grain oriented electrical steel (GOES), by non-grain oriented electrical steel (NGOES) by applications (transformers, transport, wind energy, white goods, electric motors and others), by demand, by volume and value terms, 2020- 2029
Electrical steel demand is expected to grow moderately over the next ten year. However, year-on-year demand growth will be trending upward owing to factors such as rising production of electric vehicles, smart transformers and wind turbines. Commodity Inside ascertains that electrical steel demand will reach nearly 20 million tonnes by 2029.
China will continue to be the largest producer and consumer of electrical steel in the world as it is the most significant consumer of electricity as well as the largest exporter of electrical goods. In China, future demand for grain oriented electrical steel (GOES) demand would be mainly driven by the up-gradation of conventional power infrastructure to the smart grids equipped with highly efficient smart transformers. China’s fast deployment of electric vehicle charging infrastructure is also driving the demand for GOES as it is used in transformers of fast-charging stations.
Substantial growth in the Chinese wind energy and industrial sectors is also driving demand for non-grain oriented electrical steel (NGOES) for wind turbines and industrial motors. The fastest-growing electric vehicles industry is further creating a huge demand for high-efficiency NGOES in China. China’s 14th Five-Year Plan to be launched in 2020 is expected to bring some challenges and opportunities for the electrical steel market.
China will play a key role in demand and supply dynamics for the global electrical steel industry going forward. Commodity Inside expects that the global GOES market is likely to turn to the deficit by the end of the forecast period if not enough capacity added. GOES prices to be volatile at the end of the forecast period and are likely to be on a high plateau with demand in a full swing. So far, there have not been made any serious announcements for capacity additions publically, though China is regularly adding capacity quietly.
Why this report is unique, and a must-read for the electrical steel market?
In this 2020 edition of our flagship market outlook report, Commodity Inside examines the global electrical steel industry in details from various aspects including demand from various end-users perspectives and supply by grain and non-grain oriented electrical steel. The report covers the following key issues:
- How would demand and supply of GOES and NGOES perform over the next ten years?
- How has production capacity been responding to growing demand?
- Would electrical steel prices change its trajectory going forward?
- How the end-use markets are performing and what would be their implications for demand and supply of electrical steel in the coming decade?
- Would smart grids and smart transformers support the GOES demand?
- How will the electric vehicle industry provide renewed growth in terms of increased demand for electrical steel?
- What will be the key trends in electrical steel applications and how would they drive demand?
- Where will the new production capacity installed around the world?
- What would be the net exports of GOES and NGOES by producer countries?
Why should you read this report?
- Historical and forecast of demand, production, capacity and trade of GOES and NGOES by all 20 producing countries
- Analysis by leading countries and regions (Asia, Europe, Central and South America, North America, Middle East Africa and Oceania)
- Analysis by leading producers of GOES and NGOES
- Historical demand and trade by GOES and NGOES of over 100 countries
- GOES and NGOES production capacity by plant
- Historical and forecast of GOES and NGOES.
- Electrical steel demand by applications (end-use sectors): Transformers, transport, wind energy, white goods, electric motors and others
- Coverage of emerging trends such as electric vehicles, smart grids and renewable energy
- Detailed methodology of how the production numbers are extracted and demand assessed
- Detailed tables, figures and charts
- Details data is provided in Excel
Who should buy this report?
- Electrical steel producers
- Flat steel producers
- Transformers producers
- Transport industry
- Electric vehicle producers
- Motors producers
- White goods producers
- Government bodies
- Suppliers of equipment and machinery
- Industry consultants, researchers and analysts
Subject Specific Expertise:
Commodity Inside has a vast experience in the electrical steel industry. Besides one-off publications on electrical steel, it has accomplished various consulting studies in the electrical steel arena. It has advised some key GOES and NGOES electrical steel producers.
Commodity Inside analysis is underpinned by its in-depth knowledge and expertise in the steel, transformer, electric vehicles and wind energy.