Research Reports
How is the Automobile Industry fueling Demand for Electrical Steel
Published by maria gbaf
Posted on November 9, 2021
4 min readLast updated: January 28, 2026
Global Banking & Finance Review®
Company
Published by maria gbaf
Posted on November 9, 2021
4 min readLast updated: January 28, 2026
The automobile industry's focus on electric vehicles is significantly increasing the demand for electrical steel, particularly in the APEJ region.
Global demand for electrical steel is estimated to reach 15,900 kilo tonnes in 2018, according to Fact.MR valuation. The landscape of niche steel presents immense opportunities as their demand outsells that of steel consumption. Overall growth of the electrical steel market can be attributed to,
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Fact.MR study finds a consistently rising consumption of electrical steel wherein an increase of almost 900 kilo tonnes between 2017 and 2018 and a y-o-y growth of 6.7% is estimated.
The study opines that owing to the growing focus of electrical steelmakers to improve product quality, demand for non-grain oriented electrical steel (NGOES) will witness a steady rise. Nearly 11,860 kilo tonnes of non-grain oriented electrical steel consumption is estimated while occupying over almost three-fourth of the global electrical steel demand in 2018.
Semi-Processed NGOES Registers Nearly 58% Electrical Steel Consumption
Among fully and semi-processed NGOES variants, Fact.MR projects that semi-processed will account for a bulk of the total NGOES consumption in 2017 and the status-quo will continue in 2018.
In particular, the optimistic forecast of NGOES can be attributed to the increasing application of non-grain oriented electrical steel in the automotive industry, particularly electric and hybrid vehicles. Owing to the superior properties, commercial NGOES is used in multiple applications including small to mid-sized motors and transformers across end-user industries.
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Electrical Steel Market: Segmentation
Fact.MR has segmented the electrical steel market on the basis of product, application, end-use industry, and region.
Product
Application
End-Use Industry
APEJ to Continue Pole Position in Electrical Steel Market
The Fact.MR study estimates that APEJ continues to register significant consumption for electrical steel and will account for nearly 44% of the total demand in 2018. APEJ’s optimistic outlook for automotive and utilities sectors can be attributed for the leading consumption of electrical steel in the region.
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Fact.MR also states that electrical steel marketplace is witnessing consolidation of domestic markets led by ongoing trade disputes. Initiated in the U.S., electrical steel market consolidation continues in Europe. Well aware of the scenario, investments by steelmakers are focused on improving electrical steel quality as well as the portfolio to meet emerging regional demands. Amid ongoing consolidation, steelmakers in the electrical steel marketplace are aiming at aligning their developments with evolving trends in global and domestic landscapes to ensure market sustenance.
The Fact.MR report tracks the electrical steel market for the period 2018-2026. According to the report, the electrical steel market is projected to grow at over 8% CAGR through 2026.
Read More Trending and Similar Reports from Fact.MR – https://www.globenewswire.com/en/news-release/2019/10/10/1928090/0/en/Global-Magnesium-Sulphate-Market-to-Undergo-a-Paradigm-Shift-in-Nutraceuticals-Reveals-Fact-MR.html
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The article discusses how the automobile industry is fueling demand for electrical steel, especially in electric vehicles.
APEJ accounts for nearly 44% of global electrical steel demand, driven by automotive and utility sectors.
Non-grain oriented electrical steel is crucial for electric and hybrid vehicles, accounting for a large portion of demand.
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