China Electrical Steel Market Size & Outlook, 2023-2030
China electrical steel market, 2018-2030 (US$M)
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China electrical steel market highlights
- The China electrical steel market generated a revenue of USD 13,905.6 million in 2023 and is expected to reach USD 18,345.6 million by 2030.
- The China market is expected to grow at a CAGR of 4% from 2024 to 2030.
- In terms of segment, non-grain oriented was the largest revenue generating product in 2023.
- Grain Oriented is the most lucrative product segment registering the fastest growth during the forecast period.
Electrical steel market data book summary
| Market revenue in 2023 | USD 13,905.6 million |
| Market revenue in 2030 | USD 18,345.6 million |
| Growth rate | 4% (CAGR from 2023 to 2030) |
| Largest segment | Non-grain oriented |
| Fastest growing segment | Grain Oriented |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Grain Oriented, Non-Grain Oriented |
| Key market players worldwide | ArcelorMittal SA Depository Receipt, Cleveland-Cliffs Inc, JFE Holdings Inc, Nippon Steel Corp, POSCO Holdings Inc ADR, Tata Steel Ltd GDR - 144A, Thyssenkrupp AG |
Other key industry trends
- In terms of revenue, China accounted for 48.7% of the global electrical steel market in 2023.
- Country-wise, China is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China electrical steel market is projected to lead the regional market in terms of revenue in 2030.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 2,058.8 million by 2030.
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Electrical Steel Market Scope
Electrical Steel Market Companies
| Name | Profile | # Employees | HQ | Website |
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China electrical steel market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to electrical steel market will help companies and investors design strategic landscapes.
Non-grain oriented was the largest segment with a revenue share of 72.03% in 2023. Horizon Databook has segmented the China electrical steel market based on grain oriented, non-grain oriented covering the revenue growth of each sub-segment from 2018 to 2030.
China is one of the largest emitters of greenhouse gases thus, the country is highly focused to achieve its carbon emission. As per the National Energy Administration, China had planned to feed 90 GW of wind and solar power capacity in the grid by 2021 with an aim to meet its low-carbon targets.
In addition, the government subsidized generating renewable power for poverty alleviation purposes, in 14 Chinese regions. Thus, significant initiatives to accelerate the production of renewable energy has posed a big opportunity for erecting transmission and grid line resulting in wide scope of application of transformers.
Increasing investment in grid strengthening projects and ultra-high voltage projects have also escalated the demand for transmission line which leads to usage of transformers, thus driving the market for electrical steel.
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Our clientele includes a mix of electrical steel market companies, investment firms, advisory firms & academic institutions.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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Horizon Databook provides a detailed overview of country-level data and insights on the China electrical steel market , including forecasts for subscribers. This country databook contains high-level insights into China electrical steel market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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China electrical steel market size, by product, 2018-2030 (US$M)
China Electrical Steel Market Outlook Share, 2023 & 2030 (US$M)
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