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Report
North America Electrical Steel Market
Market Report I 2024-07-01 I 142 Pages I Data Bridge Market Research
North America electrical steel market is expected to reach USD 6.46 billion by 2031 from USD 3.97 billion in 2023, growing with a CAGR of 6.4% in the forecast period of 2024 to 2031.
Market Segmentation:
North America Electrical Steel Market, By Type (Non-Grain Oriented Electrical Steel and Grain Oriented Electrical Steel), Thickness (0.23 MM, 0.27 MM, 0.30 MM, 0.35 MM, 0.5 MM, 0.65 MM, and Others), Core Losses (Less than 0.9 W/KG, 0.90 W/KG to 0.99 W/KG, 1.00 W/KG to 1.29 W/KG, 1.30 W/KG to 1.39 W/KG, and Above 1.39 W/KG), Flux Density (Above 1.76 Tesla, 1.73 Tesla to 1.76 Tesla, 1.69 Tesla to 1.73 Tesla, 1.65 Tesla to 1.69 Tesla, Less than 1.65 Tesla), Application (Motors, Transformers, Power Generators, Inductors, Electrical Ballasts, Battery, Convertors, Shunt Reactors, Wound Cores, and Others), End-User (Energy and Power, Engineering, Automotive, Building and Construction, Household Appliances, and Others), Countries (U.S., Canada, and Mexico) - Industry Trends and Forecast to 2031
Overview of the North America Electrical Steel Market Dynamics
Driver
- Rise in demand for sustainable energy sources such as wind and hydropower
Restraint
- Distortion in properties of electrical steel due to temperature variations
Opportunity
- Growth in application of electric vehicles
Market Players:
The key players operating in the North America electrical steel market are:
- Cleveland-Cliffs Inc.
- JFE Steel Corporation.
- ArcelorMittal
- voestalpine AG
- thyssenkrupp AG
- Baosteel Co.,Ltd.
- C.D. Walzholz GmbH & Co. KG
- NIPPON STEEL CORPORATION
- POSCO
- TC Metal
- Tempel (A subsidiary of Worthington Steel)
1 INTRODUCTION 16
1.1 OBJECTIVES OF THE STUDY 16
1.2 MARKET DEFINITION 16
1.3 OVERVIEW OF NORTH AMERICA ELECTRICAL STEEL MARKET 16
1.4 LIMITATIONS 17
1.5 MARKETS COVERED 17
2 MARKET SEGMENTATION 20
2.1 MARKETS COVERED 20
2.2 GEOGRAPHICAL SCOPE 21
2.3 YEARS CONSIDERED FOR THE STUDY 21
2.4 CURRENCY AND PRICING 21
2.5 DBMR TRIPOD DATA VALIDATION MODEL 22
2.6 MULTIVARIATE MODELLING 25
2.7 PRIMARY INTERVIEWS WITH KEY OPINION LEADERS 26
2.8 DBMR MARKET POSITION GRID 27
2.9 MARKET APPLICATION COVERAGE GRID 28
2.10 VENDOR SHARE ANALYSIS 29
2.11 SECONDARY SOURCES 30
2.12 ASSUMPTIONS 31
3 EXECUTIVE SUMMARY 32
4 PREMIUM INSIGHTS 36
4.1 PESTLE ANALYSIS 38
4.1.1 POLITICAL FACTORS: 38
4.1.2 ECONOMIC FACTORS: 38
4.1.3 SOCIAL FACTORS: 39
4.1.4 TECHNOLOGICAL FACTORS: 39
4.1.5 LEGAL FACTORS: 39
4.1.6 ENVIRONMENTAL FACTORS: 40
4.2 PORTER'S FIVE FORCES 41
4.2.1 THREAT OF NEW ENTRANTS (LOW) 41
4.2.2 THREAT OF SUBSTITUTES (MODERATE) 41
4.2.3 BARGAINING POWER OF BUYERS (HIGH) 41
4.2.4 BARGAINING POWER OF SUPPLIERS (MODERATE) 42
4.2.5 COMPETITIVE RIVALRY (HIGH) 42
4.3 VENDOR SELECTION CRITERIA 43
4.4 TECHNOLOGICAL ADVANCEMENT BY MANUFACTURERS 44
4.4.1 HIGH-PERMEABILITY GRADES: 44
4.4.2 NANO-CRYSTALLINE AND AMORPHOUS ALLOYS: 44
4.4.3 LASER SCRIBING TECHNOLOGY: 44
4.4.4 ADVANCED COATING TECHNIQUES: 44
4.4.5 3D PRINTING AND ADDITIVE MANUFACTURING: 44
4.4.6 DIGITAL TWIN TECHNOLOGY: 44
4.4.7 AI AND MACHINE LEARNING IN QUALITY CONTROL: 44
4.4.8 IMPROVED RECYCLING PROCESSES: 45
4.5 RAW MATERIAL PRODUCTION COVERAGE 46
5 REGULATION COVERAGE 47
6 MARKET OVERVIEW 51
6.1 DRIVERS 53
6.1.1 RISE IN DEMAND FOR SUSTAINABLE ENERGY SOURCES SUCH AS WIND AND HYDROPOWER 53
6.1.2 INCREASING DEMAND FOR STEEL IN MOTORS OF HYBRID/ELECTRICAL VEHICLES 53
6.1.3 RISING DEMAND OF THE HIGH PERMEABILITY GRADES ALLOY CORE AND WEIGHT REDUCTION MATERIALS IN THE POWER INDUSTRY 55
6.1.4 GAIN IN POPULARITY OF NON GRAIN ORIENTED ELECTRICAL STEEL IN HOUSEHOLD APPLIANCES 55
6.2 RESTRAINTS 56
6.2.1 DISTORTION IN PROPERTIES OF ELECTRICAL STEEL DUE TO TEMPERATURE VARIATIONS 56
6.2.2 IMPROPER AND INADEQUATE ELECTRONICS WASTE DISPOSAL SYSTEMS 56
6.3 OPPORTUNITIES 57
6.3.1 GROWTH IN APPLICATION OF ELECTRIC VEHICLES 57
6.3.2 INCREASING DEMAND FOR ELECTRICAL STEEL IN ENERGY STORAGE SYSTEMS 58
6.3.3 RISE IN STRINGENT ENVIRONMENT REGULATIONS AIMED FOR REDUCING GREENHOUSE GASES EMISSION 58
6.4 CHALLENGES 59
6.4.1 THE TENDENCY OF STEEL TO CORRODE OVER TIME ON EXPOSURE TO MOISTURE AND AIR 59
6.4.2 FLUCTUATION IN RAW MATERIAL PRICES 60
7 NORTH AMERICA ELECTRICAL STEEL MARKET, BY TYPE 62
7.1 OVERVIEW 63
7.2 NON-GRAIN ORIENTED ELECTRICAL STEEL 64
7.2.1 NON-GRAIN ORIENTED ELECTRICAL STEEL, BY TYPE 64
7.2.2 NON-GRAIN ORIENTED ELECTRICAL STEEL, BY CATEGORY 65
7.3 GRAIN ORIENTED ELECTRICAL STEEL 65
7.3.1 GRAIN ORIENTED ELECTRICAL STEEL, BY TYPE 65
8 NORTH AMERICA ELECTRICAL STEEL MARKET, BY THICKNESS 66
8.1 OVERVIEW 67
8.2 0.23 MM 68
8.3 0.27 MM 68
8.4 0.30 MM 68
8.5 0.35 MM 68
8.6 0.5 MM 68
8.7 0.65 MM 68
8.8 OTHERS 68
9 NORTH AMERICA ELECTRICAL STEEL MARKET, BY CORE LOSSES 69
9.1 OVERVIEW 70
9.2 LESS THAN 0.9 W/KG 71
9.3 0.90 W/KG TO 0.99 W/KG 71
9.4 1.00 W/KG TO 1.29 W/KG 71
9.5 1.30 W/KG TO 1.39 W/KG 71
9.6 ABOVE 1.39 W/KG 71
10 NORTH AMERICA ELECTRICAL STEEL MARKET, BY FLUX DENSITY 72
10.1 OVERVIEW 73
10.2 ABOVE 1.76 TESLA 74
10.3 1.73 TESLA TO 1.76 TESLA 74
10.4 1.69 TESLA TO 1.73 TESLA 74
10.5 1.65 TESLA TO 1.69 TESLA 74
10.6 LESS THAN 1.65 TESLA 74
11 NORTH AMERICA ELECTRICAL STEEL MARKET, BY END-USER 75
11.1 OVERVIEW 76
11.2 ENERGY AND POWER 77
11.3 ENGINEERING 77
11.4 AUTOMOTIVE 77
11.5 BUILDING AND CONSTRUCTION 77
11.6 HOUSEHOLD APPLIANCES 77
11.7 OTHERS 77
12 NORTH AMERICA ELECTRICAL STEEL MARKET, BY APPLICATION 78
12.1 OVERVIEW 79
12.2 MOTORS 81
12.2.1 MOTORS, BY PRODUCT TYPE 81
12.2.2 MOTORS, BY CATEGORY 81
12.3 TRANSFORMERS 82
12.3.1 TRANSFORMERS, BY PRODUCT TYPE 82
12.3.2 TRANSFORMERS, BY APPLICATION 82
12.4 POWER GENERATORS 83
12.4.1 POWER GENERATORS, BY PRODUCT TYPE 83
12.4.2 POWER GENERATORS, BY APPLICATION 83
12.5 INDUCTORS 84
12.5.1 INDUCTORS, BY PRODUCT TYPE 84
12.6 ELECTRICAL BALLASTS 84
12.6.1 ELECTRICAL BALLASTS, BY PRODUCT TYPE 84
12.7 BATTERY 85
12.7.1 BATTERY, BY PRODUCT TYPE 85
12.8 CONVERTORS 85
12.8.1 CONVERTORS, BY PRODUCT TYPE 85
12.9 SHUNT REACTORS 86
12.9.1 SHUNT REACTORS, BY PRODUCT TYPE 86
12.10 WOUND CORES 86
12.10.1 WOUND CORES, BY PRODUCT TYPE 86
12.11 OTHERS 87
12.11.1 OTHERS, BY PRODUCT TYPE 87
13 NORTH AMERICA ELECTRICAL STEEL MARKET, BY COUNTRY 88
13.1 NORTH AMERICA 88
13.1.1 U.S. 91
13.1.2 CANADA 97
13.1.3 MEXICO 103
14 NORTH AMERICA ELECTRICAL STEEL MARKET : COMPANY LANDSCAPE 109
14.1 COMPANY SHARE ANALYSIS: NORTH AMERICA 109
15 SWOT ANALYSIS 110
16 COMPANY PROFILES 111
16.1 CLEVELAND-CLIFFS INC. 111
16.1.1 COMPANY SNAPSHOT 111
16.1.2 REVENUE ANALYSIS 111
16.1.3 PRODUCT PORTFOLIO 112
16.1.4 RECENT DEVELOPMENTS 113
16.2 JFE STEEL CORPORATION. 114
16.2.1 COMPANY SNAPSHOT 114
16.2.2 PRODUCT PORTFOLIO 114
16.2.3 RECENT DEVELOPMENTS 116
16.3 ARCELORMITTAL 117
16.3.1 COMPANY SNAPSHOT 117
16.3.2 REVENUE ANALYSIS 117
16.3.3 PRODUCT PORTFOLIO 118
16.3.4 1.3.3RECENT DEVELOPMENTS 119
16.4 VOESTALPINE AG 120
16.4.1 COMPANY SNAPSHOT 120
16.4.2 REVENUE ANALYSIS 120
16.4.3 PRODUCT PORTFOLIO 121
16.4.4 RECENT DEVELOPMENTS 121
16.5 THYSSENKRUPP AG 122
16.5.1 COMPANY SNAPSHOT 122
16.5.2 REVENUE ANALYSIS 122
16.5.3 PRODUCT PORTFOLIO 123
16.5.4 RECENT DEVELOPMENTS 124
16.6 BAOSTEEL CO., LTD. 125
16.6.1 COMPANY SNAPSHOT 125
16.6.2 PRODUCT PORTFOLIO 125
16.6.3 RECENT DEVELOPMENTS 126
16.7 C.D. WALZHOLZ GMBH & CO. KG 128
16.7.1 COMPANY SNAPSHOT 128
16.7.2 PRODUCT PORTFOLIO 128
16.7.3 RECENT DEVELOPMENTS 129
16.8 NIPPON STEEL CORPORATION 130
16.8.1 COMPANY SNAPSHOT 130
16.8.2 REVENUE ANALYSIS 130
16.8.3 PRODUCT PORTFOLIO 131
16.8.4 RECENT DEVELOPMENTS 131
16.9 POSCO 132
16.9.1 COMPANY SNAPSHOT 132
16.9.2 REVENUE ANALYSIS 132
16.9.3 PRODUCT PORTFOLIO 133
16.9.4 RECENT DEVELOPMENTS 133
16.10 TC METAL 135
16.10.1 COMPANY SNAPSHOT 135
16.10.2 PRODUCT PORTFOLIO. 135
16.10.3 RECENT DEVELOPMENTS 135
16.11 TEMPEL (A SUBSIDIARY OF WORTHINGTON STEEL ) 136
16.11.1 COMPANY SNAPSHOT 136
16.11.2 PRODUCT PORTFOLIO 136
16.11.3 RECENT DEVELOPMENTS 137
17 QUESTIONNAIRE 138
18 RELATED REPORTS 142
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