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India Electrical Steel Market Report by Type (Grain Oriented Electrical Steel, Non-Grain Oriented Electrical Steel), Application (Transformers, Motors, Generators, and Others), End Use Industry (Energy and Power, Automobiles, Household Appliances, Building and Construction, and Others), and Region 2024-2032
Report Format: PDF+Excel | Report ID: SR112024A21538
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Market Overview:
India electrical steel market size is projected to exhibit a growth rate (CAGR) of 8.40% during 2024-2032. The development of new power transmission and distribution infrastructure in India, which contributes to the demand for electrical steel, is driving the market.
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Report Attribute
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Key Statistics
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|---|---|
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Base Year
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2023 |
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Forecast Years
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2024-2032 |
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Historical Years
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2018-2023
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| Market Growth Rate (2024-2032) | 8.40% |
Electrical steel, also known as silicon steel or lamination steel, is a specialized type of steel designed for use in the cores of electrical transformers, motors, and other magnetic devices. It exhibits unique magnetic properties that enhance energy efficiency in electrical applications. The steel is typically alloyed with silicon to reduce core losses, hysteresis, and eddy current losses, which are crucial factors in optimizing the performance of electromagnetic devices. The silicon content increases the electrical resistivity of the steel, minimizing energy dissipation as heat during the magnetic cycle. Additionally, electrical steel is often processed in thin laminations to further reduce eddy current losses. These characteristics make electrical steel a fundamental material in the production of efficient and reliable electrical equipment, contributing significantly to the overall performance and energy efficiency of electrical systems.
India Electrical Steel Market Trends:
The electrical steel market in India is experiencing robust growth, propelled by a confluence of factors. Firstly, the escalating demand for energy-efficient transformers and electric motors acts as a significant driver. With a burgeoning emphasis on sustainability, industries are increasingly adopting electrical steel to enhance the efficiency of their electrical equipment. Additionally, stringent government regulations promoting energy conservation have fueled the market's expansion, encouraging manufacturers to invest in advanced electrical steel technologies. Moreover, the burgeoning automotive industry has emerged as a pivotal catalyst. The rising adoption of electric vehicles (EVs) regionally has led to an increased demand for electrical steel in the manufacturing of core components such as electric motors and transformers. This shift towards electric mobility is compelling automotive manufacturers to seek materials that optimize energy efficiency, thereby boosting the demand for electrical steel. Furthermore, the ongoing advancements in power infrastructure and the increasing integration of renewable energy sources have contributed significantly to the market's momentum. As the regional focus on renewable energy intensifies, the demand for electrical steel for use in transformers supporting sustainable power generation has witnessed a substantial upswing. In essence, a complex interplay of factors, including environmental consciousness, regulatory frameworks, and technological innovations, is steering the electrical steel market in India toward unprecedented growth.
India Electrical Steel Market Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country level for 2024-2032. Our report has categorized the market based on type, application, and end use industry.
Type Insights:
- Grain Oriented Electrical Steel
- Non-Grain Oriented Electrical Steel
The report has provided a detailed breakup and analysis of the market based on the type. This includes grain oriented electrical steel and non-grain oriented electrical steel.
Application Insights:
- Transformers
- Motors
- Generators
- Others
A detailed breakup and analysis of the market based on the application have also been provided in the report. This includes transformers, motors, generators, and others.
End Use Industry Insights:
- Energy and Power
- Automobiles
- Household Appliances
- Building and Construction
- Others
The report has provided a detailed breakup and analysis of the market based on the end use industry. This includes energy and power, automobiles, household appliances, building and construction, and others.
Regional Insights:
- North India
- West and Central India
- South India
- East and Northeast India
The report has also provided a comprehensive analysis of all the major regional markets, which include North India, West and Central India, South India, and East and Northeast India.
Competitive Landscape:
The market research report has also provided a comprehensive analysis of the competitive landscape in the market. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.
India Electrical Steel Market Report Coverage:
| Report Features | Details |
|---|---|
| Base Year of the Analysis | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Units | US$ Million |
| Scope of the Report | Exploration of Historical Trends and Market Outlook, Industry Catalysts and Challenges, Segment-Wise Historical and Future Market Assessment:
|
| Types Covered | Grain Oriented Electrical Steel, Non-Grain Oriented Electrical Steel |
| Applications Covered | Transformers, Motors, Generators, Others |
| End Use Industries Covered | Energy and Power, Automobiles, Household Appliances, Building and Construction, Others |
| Regions Covered | North India, West and Central India, South India, East and Northeast India |
| Customization Scope | 10% Free Customization |
| Report Price and Purchase Option | Single User License: US$ 2699 Five User License: US$ 3699 Corporate License: US$ 4699 |
| Post-Sale Analyst Support | 10-12 Weeks |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
Key Questions Answered in This Report:
- How has the India electrical steel market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the India electrical steel market?
- What is the breakup of the India electrical steel market on the basis of type?
- What is the breakup of the India electrical steel market on the basis of application?
- What is the breakup of the India electrical steel market on the basis of end use industry?
- What are the various stages in the value chain of the India electrical steel market?
- What are the key driving factors and challenges in the India electrical steel?
- What is the structure of the India electrical steel market and who are the key players?
- What is the degree of competition in the India electrical steel market?
Key Benefits for Stakeholders:
- IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the India electrical steel market from 2018-2032.
- The research report provides the latest information on the market drivers, challenges, and opportunities in the India electrical steel market.
- Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the India electrical steel industry and its attractiveness.
- Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.
Need more help?
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- For further assistance, please connect with our analysts.
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