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Asia Pacific Electrical Steel Market
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Asia Pacific Electrical Steel Market

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Asia Pacific Electrical Steel Market, By Type (Grain-Oriented Steel, Non Grain-Oriented Steel); By Application (Transformers, Motors, Inductors); By End User (Energy, Automobiles, Manufacturing, Household Appliances); By Country (China, India, Japan, South Korea, Australia & New Zealand, Indonesia, Malaysia, Singapore, Vietnam, Rest of APAC), Trend Analysis, Competitive Landscape & Forecast, 2019–2030

  • Published Date: April 2024
  • Report ID: BWC24255
  • Available Format: PDF
  • Page: 200

Report Overview

An increasing demand for energy-efficient transformers, growing urbanization, infrastructural development, and expansion in the automotive and manufacturing sectors are driving the Asia Pacific Electrical Steel Market during the forecast period between 2024 and 2030.

Asia Pacific Electrical Steel Market – Industry Trends & Forecast Report, 2030

Asia Pacific Electrical Steel Market size by value was estimated at USD 7.89 billion in 2023. During the forecast period between 2024 and 2030, the Asia Pacific Electrical Steel Market size is expected to expand at a CAGR of 4.95% reaching a value of USD 9.43 billion by 2030. The Asia Pacific Electrical Steel Market is electrifying, driven by a confluence of factors poised to reshape the industry landscape. With burgeoning urbanization and industrialization across the region, the electricity demand continues to surge. This necessitates efficient power transmission systems, where electrical steel emerges as the linchpin for optimal performance. Market players keen on seizing opportunities in this dynamic landscape can harness the advantage of technological advancements that enhance electrical steel's magnetic properties, ensuring higher efficiency and reduced energy loss. As key players invest in R&D to innovate and meet evolving market demands, the Asia Pacific region stands poised for an electrifying transformation.

Asia Pacific Electrical Steel Market

By volume, the Asia Pacific Electrical Steel Market size was estimated at 120.77 million tons in 2023. During the forecast period between 2024 and 2030, the Asia Pacific Electrical Steel Market size is projected to grow at a CAGR of 4.33% reaching a volume of 134.65 million tons by 2030. Advantages abound in the Asia Pacific Electrical Steel Market, offering a compelling narrative for market players to capitalize on. Notably, the robust growth in renewable energy installations, particularly wind and solar power projects, underscores the pivotal role of electrical steel in enabling sustainable energy infrastructure. Further, the burgeoning automotive sector in the region, fueled by the electric vehicle revolution, presents a significant avenue for market expansion. Key players strategically positioning themselves to cater to these burgeoning sectors stand to reap substantial rewards. As demand escalates and key players innovate, the Asia Pacific Electrical Steel Market is projected to expand over the forecast period.

Electrical Steel – Overview

Electrical steel, also known as silicon steel or transformer steel, is a specialized type of steel designed for applications in electrical equipment like transformers, motors, and generators. Its unique properties include high magnetic permeability, low core loss, and minimal eddy current losses, making it ideal for efficiently conducting and transforming electrical energy. Typically produced through a process of annealing and coating to enhance its magnetic properties, electrical steel comes in various grades tailored for specific applications. Its widespread use in power distribution systems and electric machinery underscores its crucial role in facilitating the efficient transmission and utilization of electricity.

Asia Pacific Electrical Steel Market

Growth Drivers

Booming Demand in China Propels Market Growth

China's robust economic growth and rapid urbanization are driving the demand for electrical steel. Government initiatives supporting the electrical steel industry coupled with increasing sales of consumer appliances are key growth drivers. Additionally, significant investments in electrified steel by the government promise substantial growth opportunities in the market.

Expanding Power Industry in Japan

Japan's electrical steel market is witnessing growth propelled by burgeoning demand from the power sector. The rise in consumer electronics production and the increasing adoption of electric vehicles further contribute to market expansion. Government support for electrified steel initiatives and ongoing research and development efforts are also significant factors driving market growth.

Spurring Demand from Thriving India Power Sector

In India, the electrical steel market is buoyed by escalating demand from the power industry. Government investments in electric steel and the emphasis on research and development for CRGO electrical steel sheets contribute to market growth. The evolving landscape of renewable energy and infrastructure development further augments demand, promising a favorable outlook for the market.

Rising Electric Motor Demand Accelerates Market Growth

The increasing adoption of electric motors across diverse sectors is propelling the demand for electrical steel. These motors offer enhanced efficiency and lower emissions, driving their popularity. Moreover, the surge in hybrid and electric vehicle production fuels market growth, as electric steel components contribute to lighter, safer vehicles. The demand for electrical steel for efficient power transmission and infrastructure development activities also contributes significantly to market expansion.

Challenges

Volatile Raw Material Prices

The Asia Pacific electrical steel market faces a notable restraint due to erratic fluctuations in raw material prices. Key materials like iron ore, coal, industrial gases, and ferroalloys are crucial for steel production. Their unpredictable pricing significantly impacts manufacturing costs, ultimately influencing the pricing of finished electrical steel products. The volatility poses a substantial barrier to the sector's expansion. Without stable raw material costs, the smooth operation of steel fabrication and processing becomes challenging. Consequently, the industry's growth potential in the Asia Pacific region is hindered by the ongoing uncertainty in raw material pricing.

Impact of Escalating Geopolitical Tensions on Asia Pacific Electrical Steel Market

Geopolitical tensions in the Asia Pacific Electrical Steel Market are escalating due to various factors. China's dominance in steel production and exports, coupled with its strategic economic initiatives like the Belt and Road Initiative, has raised concerns among neighboring countries and global powers. Trade disputes, especially between China and the United States, have led to tariffs and trade barriers affecting the electrical steel market. Additionally, territorial disputes in the South China Sea have further strained relations, impacting trade routes and regional stability. Japan's efforts to diversify its supply chains away from China, and South Korea's technological advancements in steel production, add complexity to the competitive landscape. The tensions threaten to disrupt supply chains, increase prices, and reshape the dynamics of the Asia Pacific Electrical Steel Market.

Asia Pacific Electrical Steel Market

Segmental Coverage

Asia Pacific Electrical Steel Market – By Type

Based on type, Asia Pacific Electrical Steel Market is divided into Grain-Oriented Steel and Non Grain-Oriented Steel segments. The grain-oriented steel segment holds the largest share. The segment is favored for its superior magnetic properties, making it ideal for transformers and electrical motors. Its crystalline structure enhances magnetic conductivity, minimizing energy loss and improving efficiency in power transmission and distribution systems. With an increasing demand for energy-efficient solutions across various industries in the Asia Pacific region, grain-oriented steel continues to dominate the market, driving innovation and advancements in electrical engineering technologies.

Asia Pacific Electrical Steel Market Share

Asia Pacific Electrical Steel Market – By Application

Based on application, Asia Pacific Electrical Steel Market is divided into Transformers, Motors, and Inductors segments. The transformers segment dominates the market share followed by Motors and Inductors. Transformers play a crucial role in energy transmission and distribution systems, driving their prominence in the market. With the increasing demand for electricity and infrastructure development across the region, the transformer segment is experiencing substantial growth. Motors, essential in various industrial applications, constitute another significant portion of the market. Although Inductors contribute to the market, their share is comparatively smaller. Overall, the transformers segment stands out as the largest contributor, reflecting the region's emphasis on energy infrastructure development.

Asia Pacific Electrical Steel Market – By End Use

Based on end use, Asia Pacific Electrical Steel Market is divided into Energy, Automobiles, Manufacturing, and Household Appliances segments. The manufacturing segment is the largest in the Asia Pacific Electrical Steel Market. The segment encompasses various industries such as industrial machinery, construction, and infrastructure development, driving substantial demand for electrical steel products. Manufacturing applications require electrical steel for a wide range of purposes, including transformers, motors, and generators. With the region's burgeoning industrialization and infrastructure projects, the manufacturing sector continues to be a significant contributor to the demand for electrical steel. Its prominence underscores the pivotal role played by manufacturing activities in driving growth in the Asia Pacific Electrical Steel Market.

Asia Pacific Electrical Steel Market Size

Asia Pacific Electrical Steel Market – By Country

Based on country, Asia Pacific Electrical Steel Market is divided into China, India, Japan, South Korea, Australia & New Zealand, Indonesia, Malaysia, Singapore, Vietnam, and Rest of APAC. China represents a significant portion of the region's market share. With its robust industrial infrastructure, burgeoning economy, and substantial demand for electrical steel across various sectors, China stands out as a dominant player in the market. Its extensive manufacturing capabilities, coupled with the rapid expansion of its energy and power sectors, contribute to its prominence. Additionally, China's strategic investments in infrastructure development further bolster its position as the primary hub for electrical steel consumption and production in the Asia Pacific region.

Competitive Landscape

Major players in the Asia Pacific Electrical Steel Market Nippon Steel Corporation, POSCO, Baosteel Group, Shougang Group, JFE Steel Corporation, Hyundai Steel Company, Wuhan Iron and Steel Group Co., Ltd, Toshoku Steel Co., Ltd, Qingdao Special Steel Co., Ltd, and NS Steel & Sumikin Welding Products Co., Ltd. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

Scope of the Report

Attributes

Details

Years Considered

Historical Data – 2019–2023

Base Year – 2023

Estimated Year – 2024

Forecast Period – 2024–2030

Facts Covered

By Value - Revenue in USD Billion

By Volume - Million Tons

Market Coverage

China, India, Japan, South Korea, Australia & New Zealand, Indonesia, Malaysia, Singapore, Vietnam, Rest of APAC

Product/Service Segmentation

Type, Application, End User, Country

Key Players

Nippon Steel Corporation, POSCO, Baosteel Group, Shougang Group, JFE Steel Corporation, Hyundai Steel Company, Wuhan Iron and Steel Group Co., Ltd, Toshoku Steel Co., Ltd, Qingdao Special Steel Co., Ltd, NS Steel & Sumikin Welding Products Co., Ltd

 

By Type

  • Grain-Oriented Steel

  • Non Grain-Oriented Steel

By Application

  • Transformers

  • Motors

  • Inductors

By End User

  • Energy

  • Auto Mobiles

  • Manufacturing

  • Household Appliances

By Country

  • China

  • India

  • Japan

  • South Korea

  • Australia & New Zealand

  • Indonesia

  • Malaysia

  • Singapore

  • Vietnam

  • Rest of APAC

  1. Research Framework
    1. Research Objective
    2. Product Overview
    3. Market Segmentation
  2. Executive Summary
  3. APAC Electrical Steel Market Insights
    1. Industry Value Chain Analysis
    2. DROC Analysis
      1. Growth Drivers
        1. Rising demand for energy-efficient transformers and motors
        2. Expanding power generation and transmission infrastructure
        3. Surging adoption of electric vehicles
        4. Focus on renewable energy integration
      2. Restraints
        1. Volatile prices of raw materials
        2. Stringent environmental regulations
      3.  Opportunities
        1. Technological advancements and product innovations
        2. Growing demand in emerging economies
      4. Challenges
        1. High initial investment costs
        2. Geopolitical uncertainties
    3. Application Advancements/Recent Developments
    4. Regulatory Framework
    5. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
  4. APAC Electrical Steel Market: Marketing Strategies
  5. APAC Electrical Steel Market Overview
    1. Market Size & Forecast, 2019–2030
      1. By Value (USD Million)
      2. By Volume (Million Tons)
    2. Market Share & Forecast
      1. By Type
        1. Grain-Oriented Steel
        2. Non Grain-Oriented Steel
      2. By Application
        1. Transformers
        2. Motors
        3. Inductors
        4. Others
      3. By End User
        1. Energy
        2. Automobiles
        3. Manufacturing
        4. Household Appliances
        5. Other
      4. By Country
        1. China
        2. India
        3. Japan
        4. South Korea
        5. Australia & New Zealand
        6. Indonesia
        7. Malaysia
        8. Singapore
        9. Vietnam
        10. Rest of APAC
  6. China Electrical Steel Market
    1. Market Size & Forecast, 2019–2030
      1. By Value (USD Million)
      2. By Volume (Million Tons)
    2. Market Share & Forecast
      1. By Type
      2. By Application
      3. By End User
  7. India Electrical Steel Market
    1. Market Size & Forecast, 2019–2030
      1. By Value (USD Million)
      2. By Volume (Million Tons)
    2. Market Share & Forecast
      1. By Type
      2. By Application
      3. By End User
  8. Japan Electrical Steel Market
    1. Market Size & Forecast, 2019–2030
      1. By Value (USD Million)
      2. By Volume (Million Tons)
    2. Market Share & Forecast
      1. By Type
      2. By Application
      3. By End User
  9. South Korea Electrical Steel Market
    1. Market Size & Forecast, 2019–2030
      1. By Value (USD Million)
      2. By Volume (Million Tons)
    2. Market Share & Forecast
      1. By Type
      2. By Application
      3. By End User
  10. Australia & New Zealand Electrical Steel Market
    1. Market Size & Forecast, 2019–2030
      1. By Value (USD Million)
      2. By Volume (Million Tons)
    2. Market Share & Forecast
      1. By Type
      2. By Application
      3. By End User
  11. Indonesia Electrical Steel Market
    1. Market Size & Forecast, 2019–2030
      1. By Value (USD Million)
      2. By Volume (Million Tons)
    2. Market Share & Forecast
      1. By Type
      2. By Application
      3. By End User
  12. Malaysia Electrical Steel Market
    1. Market Size & Forecast, 2019–2030
      1. By Value (USD Million)
      2. By Volume (Million Tons)
    2. Market Share & Forecast
      1. By Type
      2. By Application
      3. By End User
  13. Singapore Electrical Steel Market
    1. Market Size & Forecast, 2019–2030
      1. By Value (USD Million)
      2. By Volume (Million Tons)
    2. Market Share & Forecast
      1. By Type
      2. By Application
      3. By End User
  14. Vietnam Electrical Steel Market
    1. Market Size & Forecast, 2019–2030
      1. By Value (USD Million)
      2. By Volume (Million Tons)
    2. Market Share & Forecast
      1. By Type
      2. By Application
      3. By End User
  15. Rest of APAC Electrical Steel Market
    1. Market Size & Forecast, 2019–2030
      1. By Value (USD Million)
      2. By Volume (Million Tons)
    2. Market Share & Forecast
      1. By Type
      2. By Application
      3. By End User
  16. Competitive Landscape
    1. List of Key Players and Their Offerings
    2. Asia Pacific Electrical Steel Company Market Share Analysis, 2023
    3. Competitive Benchmarking, By Operating Parameters
    4. Key Strategic Developments (Mergers, Acquisitions, Partnerships, etc.)
  17. Impact of Escalating Geopolitical Tensions on Asia Pacific Electrical Steel Market
  18. Company Profiles (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, and SWOT Analysis)
    1. Nippon Steel Corporation
    2. POSCO
    3. Baosteel Group
    4. Shougang Group
    5. JFE Steel Corporation
    6. Hyundai Steel Company
    7. Wuhan Iron and Steel Group Co., Ltd
    8. Toshoku Steel Co., Ltd
    9. Qingdao Special Steel Co., Ltd
    10. NS Steel & Sumikin Welding Products Co., Ltd
    11. Other Prominent Players
  19. Key Strategic Recommendations
  20. Research Methodology
    1.    Qualitative Research
      1.  Primary & Secondary Research
    2.    Quantitative Research
    3.    Market Breakdown & Data Triangulation
      1.  Secondary Research
      2.  Primary Research
    4.    Breakdown of Primary Research Respondents, By Region
    5.    Assumptions & Limitations

*Financial information of non-listed companies can be provided as per availability.

**The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable

 

 

 

List of Figures

 

Figure 1       Asia Pacific Electrical Steel Segmentation

Figure 2       Asia Pacific Electrical Steel Market Value Chain Analysis

Figure 3       Company Market Share Analysis, 2023

Figure 4       Asia Pacific Electrical Steel Market Size, By Value (USD Million), 2019–2030

Figure 5       Asia Pacific Electrical Steel Market Size, By Volume (Million Tons), 2019–2030

Figure 6       Asia Pacific Electrical Steel Market Share, By Type, By Value, 2019–2030

Figure 7       Asia Pacific Electrical Steel Market Share, By Type, By Volume, 2019–2030

Figure 8       Asia Pacific Electrical Steel Market Share, By Application, By Value, 2019–2030

Figure 9       Asia Pacific Electrical Steel Market Share, By Application, By Volume, 2019–2030

Figure 10     Asia Pacific Electrical Steel Market Share, By End User, By Value, 2019–2030

Figure 11     Asia Pacific Electrical Steel Market Share, By End User, By Volume, 2019–2030

Figure 12     Asia Pacific Electrical Steel Market Share, By Country, By Value, 2019–2030

Figure 13     Asia Pacific Electrical Steel Market Share, By Country, By Volume, 2019–2030

Figure 14     China Electrical Steel Market Size, By Value (USD Million), 2019–2030

Figure 15     China Electrical Steel Market Size, By Volume (Million Tons), 2019–2030

Figure 16     China Electrical Steel Market Share, By Type, By Value, 2019–2030

Figure 17     China Electrical Steel Market Share, By Type, By Volume, 2019–2030

Figure 18     China Electrical Steel Market Share, By Application, By Value, 2019–2030

Figure 19     China Electrical Steel Market Share, By Application, By Volume, 2019–2030

Figure 20     China Electrical Steel Market Share, By End User, By Value, 2019–2030

Figure 21     China Electrical Steel Market Share, By End User, By Volume, 2019–2030

Figure 22     India Electrical Steel Market Size, By Value (USD Million), 2019–2030

Figure 23     India Electrical Steel Market Size, By Volume (Million Tons), 2019–2030

Figure 24     India Electrical Steel Market Share, By Type, By Value, 2019–2030

Figure 25     India Electrical Steel Market Share, By Type, By Volume, 2019–2030

Figure 26     India Electrical Steel Market Share, By Application, By Value, 2019–2030

Figure 27     India Electrical Steel Market Share, By Application, By Volume, 2019–2030

Figure 28     India Electrical Steel Market Share, By End User, By Value, 2019–2030

Figure 29     India Electrical Steel Market Share, By End User, By Volume, 2019–2030

Figure 30     Japan Electrical Steel Market Size, By Value (USD Million), 2019–2030

Figure 31     Japan Electrical Steel Market Size, By Volume (Million Tons), 2019–2030

Figure 32     Japan Electrical Steel Market Share, By Type, By Value, 2019–2030

Figure 33     Japan Electrical Steel Market Share, By Type, By Volume, 2019–2030

Figure 34     Japan Electrical Steel Market Share, By Application, By Value, 2019–2030

Figure 35     Japan Electrical Steel Market Share, By Application, By Volume, 2019–2030

Figure 36     Japan Electrical Steel Market Share, By End User, By Value, 2019–2030

Figure 37     Japan Electrical Steel Market Share, By End User, By Volume, 2019–2030

Figure 38     South Korea Electrical Steel Market Size, By Value (USD Million), 2019–2030

Figure 39     South Korea Electrical Steel Market Size, By Volume (Million Tons), 2019–2030

Figure 40     South Korea Electrical Steel Market Share, By Type, By Value, 2019–2030

Figure 41     South Korea Electrical Steel Market Share, By Type, By Volume, 2019–2030

Figure 42     South Korea Electrical Steel Market Share, By Application, By Value, 2019–2030

Figure 43     South Korea Electrical Steel Market Share, By Application, By Volume, 2019–2030

Figure 44     South Korea Electrical Steel Market Share, By End User, By Value, 2019–2030

Figure 45     South Korea Electrical Steel Market Share, By End User, By Volume, 2019–2030

Figure 46     Australia & New Zealand Electrical Steel Market Size, By Value (USD Million), 2019–2030

Figure 47     Australia & New Zealand Electrical Steel Market Size, By Volume (Million Tons), 2019–2030

Figure 48     Australia & New Zealand Electrical Steel Market Share, By Type, By Value, 2019–2030

Figure 49     Australia & New Zealand Electrical Steel Market Share, By Type, By Volume, 2019–2030

Figure 50     Australia & New Zealand Electrical Steel Market Share, By Application, By Value, 2019–2030

Figure 51     Australia & New Zealand Electrical Steel Market Share, By Application, By Volume, 2019–2030

Figure 52     Australia & New Zealand Electrical Steel Market Share, By End User, By Value, 2019–2030

Figure 53     Australia & New Zealand Electrical Steel Market Share, By End User, By Volume, 2019–2030

Figure 54     Indonesia Electrical Steel Market Size, By Value (USD Million), 2019–2030

Figure 55     Indonesia Electrical Steel Market Size, By Volume (Million Tons), 2019–2030

Figure 56     Indonesia Electrical Steel Market Share, By Type, By Value, 2019–2030

Figure 57     Indonesia Electrical Steel Market Share, By Type, By Volume, 2019–2030

Figure 58     Indonesia Electrical Steel Market Share, By Application, By Value, 2019–2030

Figure 59     Indonesia Electrical Steel Market Share, By Application, By Volume, 2019–2030

Figure 60     Indonesia Electrical Steel Market Share, By End User, By Value, 2019–2030

Figure 61     Indonesia Electrical Steel Market Share, By End User, By Volume, 2019–2030

Figure 62     Malaysia Electrical Steel Market Size, By Value (USD Million), 2019–2030

Figure 63     Malaysia Electrical Steel Market Size, By Volume (Million Tons), 2019–2030

Figure 64     Malaysia Electrical Steel Market Share, By Type, By Value, 2019–2030

Figure 65     Malaysia Electrical Steel Market Share, By Type, By Volume, 2019–2030

Figure 66     Malaysia Electrical Steel Market Share, By Application, By Value, 2019–2030

Figure 67     Malaysia Electrical Steel Market Share, By Application, By Volume, 2019–2030

Figure 68     Malaysia Electrical Steel Market Share, By End User, By Value, 2019–2030

Figure 69     Malaysia Electrical Steel Market Share, By End User, By Volume, 2019–2030

Figure 70     Singapore Electrical Steel Market Size, By Value (USD Million), 2019–2030

Figure 71     Singapore Electrical Steel Market Size, By Volume (Million Tons), 2019–2030

Figure 72     Singapore Electrical Steel Market Share, By Type, By Value, 2019–2030

Figure 73     Singapore Electrical Steel Market Share, By Type, By Volume, 2019–2030

Figure 74     Singapore Electrical Steel Market Share, By Application, By Value, 2019–2030

Figure 75     Singapore Electrical Steel Market Share, By Application, By Volume, 2019–2030

Figure 76     Singapore Electrical Steel Market Share, By End User, By Value, 2019–2030

Figure 77     Singapore Electrical Steel Market Share, By End User, By Volume, 2019–2030

Figure 78     Vietnam Electrical Steel Market Size, By Value (USD Million), 2019–2030

Figure 79     Vietnam Electrical Steel Market Size, By Volume (Million Tons), 2019–2030

Figure 80     Vietnam Electrical Steel Market Share, By Type, By Value, 2019–2030

Figure 81     Vietnam Electrical Steel Market Share, By Type, By Volume, 2019–2030

Figure 82     Vietnam Electrical Steel Market Share, By Application, By Value, 2019–2030

Figure 83     Vietnam Electrical Steel Market Share, By Application, By Volume, 2019–2030

Figure 84     Vietnam Electrical Steel Market Share, By End User, By Value, 2019–2030

Figure 85     Vietnam Electrical Steel Market Share, By End User, By Volume, 2019–2030

Figure 86     Rest of APAC Electrical Steel Market Size, By Value (USD Million), 2019–2030

Figure 87     Rest of APAC Electrical Steel Market Size, By Volume (Million Tons), 2019–2030

Figure 88     Rest of APAC Electrical Steel Market Share, By Type, By Value, 2019–2030

Figure 89     Rest of APAC Electrical Steel Market Share, By Type, By Volume, 2019–2030

Figure 90     Rest of APAC Electrical Steel Market Share, By Application, By Value, 2019–2030

Figure 91     Rest of APAC Electrical Steel Market Share, By Application, By Volume, 2019–2030

Figure 92     Rest of APAC Electrical Steel Market Share, By End User, By Value, 2019–2030

Figure 93     Rest of APAC Electrical Steel Market Share, By End User, By Volume, 2019–2030

 

List of Tables

 

Table 1        Asia Pacific Electrical Steel Market Size, By Value (USD Million), 2019–2030

Table 2        Asia Pacific Electrical Steel Market Size, By Volume (Million Tons), 2019–2030

Table 3        Asia Pacific Electrical Steel Market Size, By Type, By Value, 2019–2030

Table 4        Asia Pacific Electrical Steel Market Size, By Type, By Volume, 2019–2030

Table 5        Asia Pacific Electrical Steel Market Size, By Application, By Value, 2019–2030

Table 6        Asia Pacific Electrical Steel Market Size, By Application, By Volume, 2019–2030

Table 7        Asia Pacific Electrical Steel Market Size, By End User, By Value, 2019–2030

Table 8        Asia Pacific Electrical Steel Market Size, By End User, By Volume, 2019–2030

Table 9        Asia Pacific Electrical Steel Market Size, By Country, By Value, 2019–2030

Table 10      Asia Pacific Electrical Steel Market Size, By Country, By Volume, 2019–2030

Table 11      China Electrical Steel Market Size, By Value (USD Million), 2019–2030

Table 12      China Electrical Steel Market Size, By Volume (Million Tons), 2019–2030

Table 13      China Electrical Steel Market Size, By Type, By Value, 2019–2030

Table 14      China Electrical Steel Market Size, By Type, By Volume, 2019–2030

Table 15      China Electrical Steel Market Size, By Application, By Value, 2019–2030

Table 16      China Electrical Steel Market Size, By Application, By Volume, 2019–2030

Table 17      China Electrical Steel Market Size, By End User, By Value, 2019–2030

Table 18      China Electrical Steel Market Size, By End User, By Volume, 2019–2030

Table 19      India Electrical Steel Market Size, By Value (USD Million), 2019–2030

Table 20      India Electrical Steel Market Size, By Volume (Million Tons), 2019–2030

Table 21      India Electrical Steel Market Size, By Type, By Value, 2019–2030

Table 22      India Electrical Steel Market Size, By Type, By Volume, 2019–2030

Table 23      India Electrical Steel Market Size, By Application, By Value, 2019–2030

Table 24      India Electrical Steel Market Size, By Application, By Volume, 2019–2030

Table 25      India Electrical Steel Market Size, By End User, By Value, 2019–2030

Table 26      India Electrical Steel Market Size, By End User, By Volume, 2019–2030

Table 27      Japan Electrical Steel Market Size, By Value (USD Million), 2019–2030

Table 28      Japan Electrical Steel Market Size, By Volume (Million Tons), 2019–2030

Table 29      Japan Electrical Steel Market Size, By Type, By Value, 2019–2030

Table 30      Japan Electrical Steel Market Size, By Type, By Volume, 2019–2030

Table 31      Japan Electrical Steel Market Size, By Application, By Value, 2019–2030

Table 32      Japan Electrical Steel Market Size, By Application, By Volume, 2019–2030

Table 33      Japan Electrical Steel Market Size, By End User, By Value, 2019–2030

Table 34      Japan Electrical Steel Market Size, By End User, By Volume, 2019–2030

Table 35      South Korea Electrical Steel Market Size, By Value (USD Million), 2019–2030

Table 36      South Korea Electrical Steel Market Size, By Volume (Million Tons), 2019–2030

Table 37      South Korea Electrical Steel Market Size, By Type, By Value, 2019–2030

Table 38      South Korea Electrical Steel Market Size, By Type, By Volume, 2019–2030

Table 39      South Korea Electrical Steel Market Size, By Application, By Value, 2019–2030

Table 40      South Korea Electrical Steel Market Size, By Application, By Volume, 2019–2030

Table 41      South Korea Electrical Steel Market Size, By End User, By Value, 2019–2030

Table 42      South Korea Electrical Steel Market Size, By End User, By Volume, 2019–2030

Table 43      Australia & New Zealand Electrical Steel Market Size, By Value (USD Million), 2019–2030

Table 44      Australia & New Zealand Electrical Steel Market Size, By Volume (Million Tons), 2019–2030

Table 45      Australia & New Zealand Electrical Steel Market Size, By Type, By Value, 2019–2030

Table 46      Australia & New Zealand Electrical Steel Market Size, By Type, By Volume, 2019–2030

Table 47      Australia & New Zealand Electrical Steel Market Size, By Application, By Value, 2019–2030

Table 48      Australia & New Zealand Electrical Steel Market Size, By Application, By Volume, 2019–2030

Table 49      Australia & New Zealand Electrical Steel Market Size, By End User, By Value, 2019–2030

Table 50      Australia & New Zealand Electrical Steel Market Size, By End User, By Volume, 2019–2030

Table 51      Indonesia Electrical Steel Market Size, By Value (USD Million), 2019–2030

Table 52      Indonesia Electrical Steel Market Size, By Volume (Million Tons), 2019–2030

Table 53      Indonesia Electrical Steel Market Size, By Type, By Value, 2019–2030

Table 54      Indonesia Electrical Steel Market Size, By Type, By Volume, 2019–2030

Table 55      Indonesia Electrical Steel Market Size, By Application, By Value, 2019–2030

Table 56      Indonesia Electrical Steel Market Size, By Application, By Volume, 2019–2030

Table 57      Indonesia Electrical Steel Market Size, By End User, By Value, 2019–2030

Table 58      Indonesia Electrical Steel Market Size, By End User, By Volume, 2019–2030

Table 59      Malaysia Electrical Steel Market Size, By Value (USD Million), 2019–2030

Table 60      Malaysia Electrical Steel Market Size, By Volume (Million Tons), 2019–2030

Table 61      Malaysia Electrical Steel Market Size, By Type, By Value, 2019–2030

Table 62      Malaysia Electrical Steel Market Size, By Type, By Volume, 2019–2030

Table 63      Malaysia Electrical Steel Market Size, By Application, By Value, 2019–2030

Table 64      Malaysia Electrical Steel Market Size, By Application, By Volume, 2019–2030

Table 65      Malaysia Electrical Steel Market Size, By End User, By Value, 2019–2030

Table 66      Malaysia Electrical Steel Market Size, By End User, By Volume, 2019–2030

Table 67      Singapore Electrical Steel Market Size, By Value (USD Million), 2019–2030

Table 68      Singapore Electrical Steel Market Size, By Volume (Million Tons), 2019–2030

Table 69      Singapore Electrical Steel Market Size, By Type, By Value, 2019–2030

Table 70      Singapore Electrical Steel Market Size, By Type, By Volume, 2019–2030

Table 71      Singapore Electrical Steel Market Size, By Application, By Value, 2019–2030

Table 72      Singapore Electrical Steel Market Size, By Application, By Volume, 2019–2030

Table 73      Singapore Electrical Steel Market Size, By End User, By Value, 2019–2030

Table 74      Singapore Electrical Steel Market Size, By End User, By Volume, 2019–2030

Table 75      Vietnam Electrical Steel Market Size, By Value (USD Million), 2019–2030

Table 76      Vietnam Electrical Steel Market Size, By Volume (Million Tons), 2019–2030

Table 77      Vietnam Electrical Steel Market Size, By Type, By Value, 2019–2030

Table 78      Vietnam Electrical Steel Market Size, By Type, By Volume, 2019–2030

Table 79      Vietnam Electrical Steel Market Size, By Application, By Value, 2019–2030

Table 80      Vietnam Electrical Steel Market Size, By Application, By Volume, 2019–2030

Table 81      Vietnam Electrical Steel Market Size, By End User, By Value, 2019–2030

Table 82      Vietnam Electrical Steel Market Size, By End User, By Volume, 2019–2030

Table 83      Rest of APAC Electrical Steel Market Size, By Value (USD Million), 2019–2030

Table 84      Rest of APAC Electrical Steel Market Size, By Volume (Million Tons), 2019–2030

Table 85      Rest of APAC Electrical Steel Market Size, By Type, By Value, 2019–2030

Table 86      Rest of APAC Electrical Steel Market Size, By Type, By Volume, 2019–2030

Table 87      Rest of APAC Electrical Steel Market Size, By Application, By Value, 2019–2030

Table 88      Rest of APAC Electrical Steel Market Size, By Application, By Volume, 2019–2030

Table 89      Rest of APAC Electrical Steel Market Size, By End User, By Value, 2019–2030

Table 90      Rest of APAC Electrical Steel Market Size, By End User, By Volume, 2019–2030

Table 91      Nippon Steel Corporation Company Overview

Table 92      Nippon Steel Corporation Financial Overview

Table 93      POSCO Company Overview

Table 94      POSCO Financial Overview

Table 95      Baosteel Group Company Overview

Table 96      Baosteel Group Financial Overview

Table 97      Shougang Group Company Overview

Table 98      Shougang Group Financial Overview

Table 99      JFE Steel Corporation Company Overview

Table 100    JFE Steel Corporation Financial Overview

Table 101    Hyundai Steel Company: Company Overview

Table 102    Hyundai Steel Company Financial Overview

Table 103    Wuhan Iron and Steel Group Co., Ltd Company Overview

Table 104    Wuhan Iron and Steel Group Co., Ltd Financial Overview

Table 105    Toshoku Steel Co., Ltd Company Overview

Table 106    Toshoku Steel Co., Ltd Financial Overview

Table 107    Qingdao Special Steel Co., Ltd Company Overview

Table 108    Qingdao Special Steel Co., Ltd Financial Overview

Table 109    NS Steel & Sumikin Welding Products Co., Ltd Company Overview

Table 110    NS Steel & Sumikin Welding Products Co., Ltd Financial Overview

Market Segmentation

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Frequently Asked Questions (FAQs):

Ans: Asia Pacific Electrical Steel Market size by value was estimated at USD 7.89 billion in 2023.
Ans: Asia Pacific Electrical Steel Market by value is expected to grow at a CAGR of 4.95% during the forecast period between 2024 and 2030.
Ans: Asia Pacific Electrical Steel Market size is forecast to reach a value of USD 9.43 billion by 2030.
Ans: The growth of the Asia Pacific Electrical Steel Market is primarily driven by increasing demand for energy-efficient transformers, growing urbanization, infrastructural development, and expansion in the automotive and manufacturing sectors.
Ans: Asia Pacific Electrical Steel Market size by volume was estimated at 120.77 million tons in 2023.
Ans: By Volume, the Asia Pacific Electrical Steel Market size is expected to grow at a CAGR of 4.33% during the forecast period between 2024 and 2030.
Ans: Asia Pacific Electrical Steel Market size by volume is forecast to reach 134.65 million tons by 2030.
Ans: Key players in Asia Pacific Electrical Steel Market include Nippon Steel Corporation, POSCO, Baosteel Group, Shougang Group, JFE Steel Corporation, Hyundai Steel Company, Wuhan Iron and Steel Group Co., Ltd, Toshoku Steel Co., Ltd, Qingdao Special Steel Co., Ltd, and NS Steel & Sumikin Welding Products Co., Ltd.
Ans: The grain-oriented steel segment accounts for a higher market share in the Asia Pacific Electrical Steel Market by type.
Ans: The transformers segment accounts for the highest market share in the Asia Pacific Electrical Steel Market.
Ans: China accounts for the highest market share in the Asia Pacific Electrical Steel Market.