Middle East Electrical Steel Market Size, Statistics, Growth Trend Analysis, and Forecast Report, 2023 - 2033

Middle East 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 (Iran, Iraq, Israel, Saudi Arabia, UAE, and Rest of Middle East)

  • Report ID : MD3010
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  • Pages : 220
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  • Tables : 80
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  • Formats :

Middle East Electrical steel Market shall reach a value of $5.09 Billion in 2033, growing with a CAGR of 11.5% during the forecast period of 2023 to 2033.

The Middle East electrical steel market denotes the sector dedicated to manufacturing and supplying electrical steel, a distinctive steel variety utilized in transformers, electric generators, and motors. Encompassing Middle Eastern nations like Saudi Arabia, the UAE, and Iran, this markets vitality is shaped by factors including energy infrastructure expansion, industrial expansion, and technological innovations. It assumes a pivotal role in bolstering the Middle Easts power generation and distribution domain. The market has seen consistent expansion driven by mounting electricity requirements and is poised to persistently transform alongside advancements in energy technology.

The Middle East electrical steel market is experiencing notable growth, primarily propelled by resource wealth and electrification projects in the region. Resource wealth, characterized by substantial reserves of oil and gas, has yielded substantial revenues for Middle Eastern nations. Governments are allocating significant investments towards infrastructure development, including electrical grids, power generation facilities, and distribution networks. These developments necessitate the utilization of electrical steel in critical components such as transformers, generators, and transmission lines. Furthermore, the diversification of economies in resource-rich countries is fostering industrial growth, driving increased demand for electrical steel in various machinery and manufacturing applications. Concurrently, electrification initiatives are exerting a significant influence on market expansion. Middle Eastern nations are embarking on ambitious projects to electrify sectors like transportation and utilities. Electrified public transportation systems, for instance, rely on electrical steel for core motor components and transformers, while modernized utility networks demand electrical steel for efficient power dispersion. These endeavors align with global trends favoring cleaner and more efficient energy systems, thereby establishing a robust and sustainable demand for electrical steel in the Middle East.

However, geopolitical instability presents a significant restraint to the growth of the Middle East electrical steel market. Ongoing political conflicts and regional tensions create an environment of uncertainty and insecurity, dissuading foreign investments and disrupting supply chains. This not only hampers the expansion of manufacturing facilities but also impedes the timely execution of crucial infrastructure projects that heavily rely on electrical steel components. Furthermore, political instability can result in trade disruptions, making it challenging for Middle Eastern nations to access vital raw materials and technology transfers essential for the electrical steel industry. Additionally, geopolitical conflicts can deter foreign businesses from establishing a presence in the region, limiting technology transfer and impeding the development of advanced manufacturing processes. In sum, the persisting instability in the Middle East heightens investment risks and disrupts the seamless functioning of the electrical steel market, thereby restraining its growth potential.

Impact of COVID-19

The Middle East electrical steel market experienced disruptions due to the COVID-19 pandemic. Lockdowns, supply chain interruptions, and reduced industrial activity in 2020 resulted in a temporary decline in demand for electrical steel. However, the sector showed resilience as governments prioritized infrastructure development, especially in the renewable energy sector, as part of economic recovery plans. The market gradually rebounded, driven by ongoing electrification projects and increased investment in renewable energy. The pandemic highlighted the importance of a robust and reliable electrical infrastructure, prompting continued growth in the Middle East electrical steel market, albeit with some initial setbacks.
According to the application, the transformers segment has held 44% revenue share in 2022. The Transformers segment holds a substantial share in the Middle East electrical steel market due to its pivotal role in the regions expanding power infrastructure. As Middle Eastern nations invest heavily in electricity generation and distribution, there is a growing demand for transformers, which rely on electrical steel for their core components. Moreover, the regions increasing emphasis on renewable energy projects necessitates efficient transformers. These factors, coupled with the rising urbanization and industrialization, contribute to the prominence of the Transformers segment in the Middle East electrical steel market, making it a key driver of market growth.

According to the end user, the energy segment has held 34% revenue share in 2022. `The energy segment holds a major share in the Middle East electrical steel market due to the regions substantial investments in power generation and distribution infrastructure. Middle Eastern countries, rich in oil and gas resources, are diversifying their economies by heavily investing in renewable energy projects. These initiatives require large quantities of electrical steel for transformers, generators, and transmission equipment. Additionally, the growing demand for electricity, driven by urbanization and industrialization, reinforces the significance of the energy sector, making it a primary driver of demand for electrical steel in the Middle East.

Recent Strategic Developments
• March 2022: ArcelorMittal S.A. announced an investment of USD 317.90 million to establish the production plant for electrical steel at the Mardyck site located in Northern France. The purpose of the investment is to increase production capacity to maximize revenue.
• November 2021: POSCO announced boosting the production of electrical steel sheets to fulfill the consumer’s demand. The company decided to invest USD 848.6 million to produce 300,000 tons of steel plate per year.
• July 2021: Following the business strategy, the NLMK Group announced the continuation of the construction of an electrical steel plant in Maharashtra, India. The plant would have a production capacity of 64,000 tons of electrical steel annually.
• November 2020: NIPPON STEEL CORPORATION expanded electrical steel sheet facilities in the Setouchi Works Hirohata, and Kyushu Works Yawata. The investment, including those previously announced, will approximate USD 721 million. This series of measures to improve capacity and quality will take full effect during the first half of 2023, with manufacturing capacity expected to increase by approximately 40%.
• April 2020: Shougang Group declared that the company achieved the ultimate production efficiency for the finishing rolling electrical sheets. The purpose of the company is to aim at improving the shearing loss with an enhanced yield rate.

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

Middle East 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

Middle East Electrical steel Market Segments
• 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)
• Iran
• Iraq
• Israel
• Saudi Arabia
• Rest of Middle East

Middle East Electrical steel Market Companies
• Emirates Steel
• United Iron & Steel Company (UNISTEEL)
• Saudi Iron and Steel Company (Hadeed)
• Qatar Steel
• Jindal Shadeed Iron & Steel
• SULB Company B.S.C. (Closed)
• Al Nasser Industrial Enterprises
• United Metal Coating LLC
• Al Yamamah Steel Industries Co.
• Al Ittefaq Steel Products Co.

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