The Non-Grain Oriented Electrical Steel Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Non-Grain Oriented Electrical Steel Global Market Report 2024, The non-grain oriented electrical steel market size has grown strongly in recent years. It will grow from $14.32 billion in 2023 to $15.05 billion in 2024 at a compound annual growth rate (CAGR) of 5.1%. The growth in the historic period can be attributed to industrial revolution impact, electrification of industries, research and development, urbanization and infrastructure growth, emergence of energy-efficient appliances.
The non-grain oriented electrical steel market size is expected to see steady growth in the next few years. It will grow to $17.81 billion in 2028 at a compound annual growth rate (CAGR) of 4.3%. The growth in the forecast period can be attributed to supply chain optimization, industry 4.0 and automation, smart grid development, electric vehicle revolution, recycling and sustainability. Major trends in the forecast period include data-driven maintenance strategies, localized manufacturing, material traceability and transparency, resilience to high temperatures, iot integration in electrical steel:.
The rising adoption of electric vehicles (EV) is expected to propel the growth of the non-grain-oriented electrical steel market going forward. The electric vehicle is automotive that can be powered by an electric motor that takes electricity from a battery and can be charged from an external source. The non-oriented electrical steel enhances the performance of the electric motor used as the core material in electric vehicles; as a result, the rising adoption of electric vehicles increases the demand for non-grain oriented electrical steel. For instance, according to the Global EV Outlook 2022 report, electric vehicle (EV) sales had doubled from the previous year in 2021, reaching a new high of 6.6 million. Additionally, the sales of electric car vehicles worldwide in 2021 have reached 6600000 units from 2980000 units. Therefore, the rising adoption of electric vehicles drives the non-grain-oriented electrical steel market.
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The non-grain oriented electrical steel market covered in this report is segmented –
1) By Product: Fully Processed, Semi-processed
2) By Thickness: 0.35 mm, 0.5 mm, 0.65 mm, Other Thickness
3) By Application: Inductors, Transformers, Motors, Other Applications
4) By End User: Automotive Industry, Aviation, Power, Domestic Appliances, Other End Users
Product innovation is the major trend gaining momentum in the non-grain-oriented electrical steel market. Major companies operating in the non-grain-oriented electrical steel market are focused on developing innovative products to strengthen their position in the market. For instance, in December 2022, Cleveland-Cliffs Inc., a US-based mining and manufacturing company of electrical steel, iron ore, and other ferroalloys, launched MOTOR-MAX. This product is a high-frequency non-oriented electrical steel (HF NOES) that can enhance the engine's ultimate performance and efficiency developed for high-speed engines, electric vehicle (EV) propulsion motors, aviation generators, and other rotating machinery.
The non-grain oriented electrical steel market report table of contents includes:
- Executive Summary
- Non-Grain Oriented Electrical Steel Market Characteristics
- Non-Grain Oriented Electrical Steel Market Trends And Strategies
- Non-Grain Oriented Electrical Steel Market - Macro Economic Scenario
- Global Non-Grain Oriented Electrical Steel Market Size and Growth
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- Global Non-Grain Oriented Electrical Steel Market Competitive Benchmarking
- Global Non-Grain Oriented Electrical Steel Market Competitive Dashboard
- Key Mergers And Acquisitions In The Non-Grain Oriented Electrical Steel Market
- Non-Grain Oriented Electrical Steel Market Future Outlook and Potential Analysis
- Appendix
Top Major Players :
- ThyssenKrupp AG
- ArcelorMittal SA
- Pohang Iron and Steel Company (POSCO)
- Nippon Steel Corporation
- Ansteel Group Corporation Limited
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A business intelligence report on the global Electrical Steel market offers quantitative estimation of the opportunities and qualitative assessment various growth dynamics.
The study highlights estimations of the opportunities in the historical period, and offers several projections during the forecast period.The following are taken into consideration:Historical Period: 2015 – 2019Forecast Period: 2020 – 2030Request to View Sample of Research Report @ https://www.factmr.com/connectus/sample?flag=S_id=2397Key Focus Areas of Report on Global Electrical Steel MarketThe study on the Electrical Steel market includes detailed market estimations of opportunities in various segments and their share/size globally in each year during the forecast period.
The following are the broad insights that form the backbone of the evaluation of the Electrical Steel market.Detailed segmentation to at least two levels based on various parameters that include region, end user/application, and product/technology/service type/modelCurrent valuation of all the key segmentsProjected CAGR of the key segments from 2020 – 2030Qualitative analyses of the growth trajectory of the Electrical Steel market year-over-year; these include scrutiny of the key growth dynamics: drivers, restraints, winning imperatives for players, challenges, and opportunitiesProfile of prominent players in the Electrical Steel marketStrategies and Recent Moves made by them to consolidate their positionsCOVID-19 disruptions in macroeconomic dynamics that will shape the future contours of the market dynamicsAttractiveness of key product/technology segmentsSegmental Analysis Comprise the following.Based on End-use Industry/Application,AutomobileEnergyHousehold ApplianceManufacturingBased on Product/Technology,Grain-Oriented Electrical SteelNon-Grain Oriented Electrical SteelBased on Region,North AmericaLatin AmericaEuropeJapanAPEJMEATop players includeArcelorMittal S.A.Baosteel Group CorporationPOSCONovolipetsk SteelWhat Businesses Can Hope to Get in Business Intelligence on Electrical Steel Market?The study insights on the Electrical Steel market growth dynamics and opportunities highlights various key aspects, in which crucial ones are:Which are the technology and strategic areas that emerging, new entrants, and established players should focus on keep growing in the industry-wide disruptions that COVID-19 has caused?Which new avenues bear incredible potential during the ongoing COVID-19 lockdown restrictions?Which policies by governments can give the top stakeholders support their efforts of consolidation?What new business models are gathering pace among companies to remain agile in post-COVID-era?Which segments will see a surge in popularity in near future, and what calibrations players need to make to utilize the trend for an elongated period?To Know More Information about This Report, Ask The Analyst @ https://www.factmr.com/connectus/sample?flag=AE_id=2397Insights and Perspectives that make this Study on Electrical Steel Market Stand OutThe analysts who have prepared the report have been keen observers of the dynamism due to macroeconomic upheavals.
Using the best industry assessment quantitative methods and data integration technologies, they have come out with a holistic overview of the future growth trajectories of the Electrical Steel market.
Fact-based insights and easy-to-comprehend information based on wide spectrum of market data is what makes this study different from competitors.The following evaluations create a differentiating approach towards understanding the market dynamics and presenting the crux to its readers:The analysts harness rigorous statistical analytical tools combined with their expertise to identify imminent investment pockets in various regions and in various technology segments.The study offers a broad framework for businesses to assess the change in policies on their internal growth dynamics.The study strives to offer a multi-dimensional and inter-industry evaluation of the market impacts on recent mergers and acquisitions, deals and partnerships, and venture funding.The analysts have presented this information in easy-to-understand formats.About Fact.MRFact.MR is a fast-growing market research firm that offers the most comprehensive suite of syndicated and customized market research reports.
We believe transformative intelligence can educate and inspire businesses to make smarter decisions.
The‘Global Grain Oriented Electrical Steel Market Report’ is a comprehensive and in-depth study on the size, share, growth,trends, demand and estimation with a focus on the latest development.
The report provides key statistics on the market status with highlights on various important strategic such as mergers, acquisitions, partnership and other development.The report segments the grain oriented electrical steel market and analyses it with respect to the geography, intending to keep the marketer informed and help them identify the target demographics for the product or service.Request a FREE Sample Copy of Global Grain Oriented Electrical Steel Market Report with Full TOC At: https://www.valuemarketresearch.com/contact/grain-oriented-electrical-steel-market/download-sampleBy Type AnalysisConventionalHigh Magnetic StrengthDomain RefinementBy Application AnalysisTransformerPower GeneratorElectric MotorOthersBrowse Full Global Grain Oriented Electrical Steel Market Research Report With TOC At: https://www.valuemarketresearch.com/report/grain-oriented-electrical-steel-marketThe research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the grain oriented electrical steel market include Shandong Iron & Steel Group Co. Ltd., Steel Authority of India Ltd., ArcelorMittal S.A., Tata Steel Ltd., Nippon Steel & Sumitomo Metal Corp. (NSSMC) Group, United States Steel Corp., China Baowu Steel Group Corp. Ltd., Jiangsu Shangang Group Co. Ltd., JFE Steel Corp., Ansteel Group Corp., AK Steel Holding.S.
This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.This section covers regional segmentation which accentuates on current and future demand for grain oriented electrical steel market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa.
Further, the report focuses on demand for individual application segment across all the prominent regions.Purchase complete Global Grain Oriented Electrical Steel Market Research Report At: https://www.valuemarketresearch.com/contact/grain-oriented-electrical-steel-market/buy-nowAbout Us:Value Market Research was established with the vision to ease decision making and empower the strategists by providing them with holistic market information.We facilitate clients with syndicate research reports and customized research reports on 25+ industries with global as well as regional coverage.Contact:Value Market Research401/402, TFM, Nagras Road, Aundh, Pune-7.Maharashtra, INDIA.Tel: +1-888-294-1147Email: [email protected]: https://www.valuemarketresearch.com
