Europe Electrical steel Market is segmented By Product Type (Grain Oriented Electrical Steel, Non-Grain Oriented Electrical Steel), By Application (Inductors, Motors, Transformers), By Thickness (0.23 mm, 0.27 mm, 0.30 mm, 0.35 mm, 0.5 mm, 0.65 mm, Others), By Core Losses (Less Than 0.9 w/kg, 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), By Flux Density (Less Than 1.65 Tesla, 1.65 Tesla to 1.69 Tesla, 1.69 Tesla to 1.73 Tesla, 1.73 Tesla to 1.76 Tesla and Above 1.76 Tesla), By End User (Automotive, Manufacturing, Energy, Household Appliance, Construction, Fabrication), By Country (France, Germany, Italy, Spain, United Kingdom, Russia, Rest of Europe)

Europe Electrical steel Market shall reach a value of $22.8 Billion in 2033, growing with a CAGR of 10.5% during the forecast period of 2023 to 2033.

The European electrical steel market denotes the sector operating within Europe that manufactures and supplies electrical steel, a specialized variant of steel utilized in the fabrication of transformers, electric motors, and generators. It encompasses the entire spectrum of activities, from the production and distribution of electrical steel products to the trading of various grades and varieties designed for specific electrical applications. This markets dynamics are shaped by factors such as demand originating from the power generation and distribution industries, advancements in technology, and governmental directives pertaining to energy efficiency. It plays an indispensable role in Europes electrical infrastructure, contributing significantly to the regions capabilities in energy transmission and transformation.

The growth of the Europe electrical steel market is significantly propelled by the rapid advancement and implementation of Smart Grid technology. Smart Grids, characterized by their enhanced digital communication and control capabilities, are revolutionizing the energy landscape across Europe. These grids require advanced transformers, reactors, and electrical equipment, all heavily reliant on electrical steel components. Smart Grids offer unprecedented levels of efficiency, reliability, and sustainability in energy distribution, effectively reducing power losses during transmission and enhancing the integration of renewable energy sources. Consequently, this necessitates the deployment of high-quality electrical steel, specifically designed to minimize core losses and maximize magnetic properties, thereby ensuring optimal performance within the Smart Grid infrastructure. Moreover, as Europe continues to prioritize energy efficiency and environmental sustainability, stringent regulations mandate the use of energy-efficient materials like electrical steel. This further accentuates the demand for premium electrical steel in the development and expansion of Smart Grids, cementing its pivotal role in the regions transition towards a more resilient and eco-friendly electrical infrastructure. As Smart Grid technology continues to evolve and proliferate, the Europe electrical steel market is poised for sustained growth, driven by the imperative need for cutting-edge materials to support the energy grid of the future.

However, competition from alternative materials presents a significant restraint to the growth of the Europe electrical steel market. While traditional electrical steel has been the standard choice for magnetic cores in transformers and motors, emerging materials such as amorphous and nanocrystalline alloys are gaining prominence due to their superior magnetic properties and energy efficiency. Amorphous and nanocrystalline materials exhibit lower core losses, reduced hysteresis, and improved electrical conductivity compared to conventional electrical steel. This higher efficiency translates to energy savings and reduced operating costs over the long term. As Europe strives for greater energy efficiency and sustainability, industries are increasingly drawn towards these alternatives. Moreover, stringent environmental regulations and sustainability goals are pushing companies to adopt greener technologies, further boosting the appeal of alternative materials, which often have a smaller carbon footprint in their production. To counter this restraint, the electrical steel industry in Europe must invest in research and development to enhance the performance and cost-effectiveness of traditional electrical steel, and adapt to changing market demands. This will be crucial in maintaining its competitiveness against these emerging alternatives.

Impact of COVID-19

The COVID-19 pandemic had a mixed impact on the Europe electrical steel market. Initially, there was a disruption in the supply chain due to lockdowns and restrictions, leading to delays in production and delivery. However, as the pandemic highlighted the importance of resilient electrical infrastructure for healthcare and remote work, there was increased demand for electrical steel in power generation and distribution sectors. Additionally, government stimulus packages and recovery plans aimed at boosting infrastructure projects and renewable energy investments provided a stimulus for the market. Overall, the market experienced short-term challenges but rebounded with a focus on strengthening electrical infrastructure for a post-pandemic world.

According to the application, the transformers segment has held 54% revenue share in 2022. The Transformers segment holds a substantial share in the Europe electrical steel market due to its pivotal role in the regions electrical infrastructure. Transformers are indispensable components in power transmission and distribution, ensuring efficient energy transfer and voltage regulation. As Europe transitions toward renewable energy sources and grid modernization, the demand for transformers has surged. Electrical steels unique magnetic properties make it essential for transformer cores, as it reduces energy losses and enhances overall efficiency. Consequently, the Transformers segment remains a major contributor to the market, driven by ongoing grid upgrades and the need for a reliable energy network.

According to the country, the United Kingdom has held 30% revenue share in 2022. The United Kingdom holds a significant share in the Europe electrical steel market due to several key factors. Firstly, it boasts a robust manufacturing sector with a focus on electrical equipment production, necessitating a substantial supply of electrical steel. Secondly, the UKs commitment to renewable energy and grid modernization projects drives demand for electrical steel in transformers and power infrastructure. Additionally, its strong presence in the automotive and aerospace industries further bolsters demand. Finally, the UKs strategic location and well-developed trade relations within Europe make it a vital hub for electrical steel distribution across the continent.

Recent Strategic Developments
• In May 2021, JFE Steel Corporation entered into a memorandum of understanding with JSW Steel Limited (JSW) to explore the feasibility of establishing a joint-venture company in India focused on manufacturing and selling grain-oriented electrical steel sheets.
• Nippon Steel, in November 2020, revealed plans to invest nearly $1 billion to expand their electrical steel sheet production capabilities at two separate facilities in Japan. This expansion, expected to be completed by 2023, aims to increase manufacturing capacity by approximately 40%.
• thyssenkrupp Steel Europe and BMW Group joined forces in a collaboration known as Steel United. This partnership is dedicated to the development and production of innovative electrical steel products tailored for electric vehicles, including components like motors, generators, and transformers.
• voestalpine has introduced HiDynic electrical steel, boasting a 10% efficiency improvement compared to traditional electrical steel. This remarkable performance is attributed to its distinctive microstructure achieved through a novel manufacturing process.

Years considered for this report
• Historical Years: 2021 - 2022
• Base Year: 2022
• Forecast Period: 2023-2033

Europe Electrical steel Market Research Report Analysis Highlights
• Historical data available (as per request)
• Estimation/ projections/ forecast for revenue and unit sales (2022 - 2033)
• Data breakdown for application Industries (2022 - 2033)
• Integration and collaboration analysis of companies
• Capacity analysis with application sector breakdown
• Business trend and expansion analysis
• Import and export analysis
• Competition analysis/market share
• Supply chain analysis
• Client list and case studies
• Market entry strategies adopted by emerging companies

Europe Electrical steel Market Segments
Product Type (Revenue, USD Million, 2022 - 2033)
• Grain Oriented Electrical Steel
• Non-Grain Oriented Electrical Steel
o Fully Processed
o Semi-Processed

Application (Revenue, USD Million, 2022 - 2033)
• Inductors
• Motors
o 1 HP – 100 HP
o 101 HP – 200 HP
o 201 HP – 500 HP
o 501 HP – 1000 HP
o Above 1000 HP
• Transformers
o Transmission
o Portable
o Distribution

Thickness (Revenue, USD Million, 2022 - 2033)
• 0.23 mm
• 0.27 mm
• 0.30 mm
• 0.35 mm
• 0.5 mm
• 0.65 mm
• Others

Core Losses (Revenue, USD Million, 2022 - 2033)
• Less Than 0.9 w/kg
• 90 w/kg to 0.99 w/kg
• w/kg to 1.29 w/kg
• 1.30 w/kg to 1.39 w/kg
• Above 1.39 w/kg

Flux Density (Revenue, USD Million, 2022 - 2033)
• Less Than 1.65 Tesla
• 1.65 Tesla to 1.69 Tesla
• 1.69 Tesla to 1.73 Tesla
• 1.73 Tesla to 1.76 Tesla
• Above 1.76 Tesla

End User (Revenue, USD Million, 2022 - 2033)
• Automotive
• Manufacturing
• Energy
• Household Appliance
• Construction
• Fabrication

By Country (Revenue, USD Million, 2022 - 2033)
• France
• Germany
• Italy
• Spain
• United Kingdom
• Russia
• Rest of Europe

Europe Electrical steel Market Companies
• ArcelorMittal
• Thyssenkrupp
• Voestalpine
• JFE Steel Corporation
• Nippon Steel
• POSCO
• Cogent Power
• ATI
• AK Steel Corporation
• Aperam

Available Versions of Tradings Cards Market Report:
Global Electrical steel Market Research Report
Europe Electrical steel Market Research Report
Middle East Electrical steel Market Research Report
APAC Electrical steel Market Research Report
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