Grain Oriented Electrical Steel Market | Size,Growth Rate,Industry Opportunities 2023-2029 |

A complete study of the global Grain Oriented Electrical Steel market is carried out by the analysts in this report, taking into consideration key factors like drivers, challenges, recent trends, opportunities, advancements, and competitive landscape. This report offers a clear understanding of the present as well as future scenarios of the global Grain Oriented Electrical Steel industry. Research techniques like PESTLE and Porter's Five Forces analysis have been deployed by the researchers. They have also provided accurate data on Grain Oriented Electrical Steel production, capacity, price, cost, margin, and revenue to help the players gain a clear understanding of the overall existing and future market situation.

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Electrical steel is an alloy that contains iron and silicon. It can be manufactured by modifying the magnetic properties of steel for efficient magnetism and electricity conversion. Also called silicon steel, lamination steel, relay steel or transformer steel, this type of steel is very often used to build the cores of transformers as well as the stators of generators and motors. An electrical steel sheet is a functional material used as an iron core material for electrical equipment. There are two types of electrical steel: grain oriented electrical steel and non-grain oriented electrical steel, and they are used for different applications. In this report we researched grain oriented electrical steel.

Grain oriented electrical steels are iron-silicon magnetic alloys. These alloys are used to construct the cores of highly-efficient electric transformers due to their unique magnetic properties. Available in grades M-2, M-3, M-4, M-5 and M-6, with superior magnetic properties in the rolling direction, oriented steels are used in transformer cores. They are used in large generators and other apparatus when the design permits the directional magnetic characteristics to be used efficiently.

Grain oriented electrical steel usually has a silicon level of 3%. It is processed in such a way that the optimal properties are developed in the rolling direction, due to a tight control (proposed by Norman P. Goss) of the crystal orientation relative to the sheet. Grain oriented electrical steels are usually applied in transformers, rectifiers and so on.

Market Analysis and Insights: Global and United States Grain Oriented Electrical Steel Market

This report focuses on global and United States Grain Oriented Electrical Steel market, also covers the segmentation data of other regions in regional level and county level.

Due to the COVID-19 pandemic, the global Grain Oriented Electrical Steel market size is estimated to be worth US$ 6620.1 million in 2022 and is forecast to a readjusted size of US$ 7964.8 million by 2028 with a CAGR of 3.1% during the forecast period 2022-2028. Fully considering the economic change by this health crisis, by Type, High Magnetic Strength accounting for % of the Grain Oriented Electrical Steel global market in 2021, is projected to value US$ million by 2028, growing at a revised % CAGR from 2022 to 2028. While by Application, Transformer was the leading segment, accounting for over percent market share in 2021, and altered to an % CAGR throughout this forecast period.

The major players in global Grain Oriented Electrical Steel market include Baowu Group, Nippon Steel Corporation, AK Steel, etc. The top 1 player occupy about 30% shares of the global market. Asia Pacific occupies about 65% of the global market. High magnetic strength is the main type, with a share about 60%. Transformer is the main application, which holds a share about 90%.

Global Grain Oriented Electrical Steel Scope and Market Size

Grain Oriented Electrical Steel market is segmented by region (country), players, by Type and by Application. Players, stakeholders, and other participants in the global Grain Oriented Electrical Steel market will be able to gain the upper hand as they use the report as a powerful resource. The segmental analysis focuses on revenue and forecast by region (country), by Type and by Application for the period 2017-2028.

For United States market, this report focuses on the Grain Oriented Electrical Steel market size by players, by Type and by Application, for the period 2017-2028. The key players include the global and local players, which play important roles in United States.

Segment by Type

High Magnetic Strength

Conventional

Domain Refinement

Segment by Application

Transformer

Motor

Other

By Region

North America

U.S.

Canada

Europe

Germany

France

U.K.

Italy

Russia

Asia-Pacific

China

Japan

South Korea

India

Australia

China Taiwan

Indonesia

Thailand

Malaysia

Latin America

Mexico

Brazil

Argentina

Middle East & Africa

Turkey

Saudi Arabia

UAE

By Company

Baowu Group

Nippon Steel

NLMK

AK Steel (Cleveland-Cliffs)

Shougang

Posco

JFE Steel

ThyssenKrupp

Stalprodukt S.A.

Baotou Weifeng

Aperam

Chongqing Wangbian

Zhejiang Huaying

Wuxi Huajing

Key questions answered in the report:

What is the growth potential of the Grain Oriented Electrical Steel market?
Which product segment will grab a lion's share?
Which regional market will emerge as a frontrunner in coming years?
Which application segment will grow at a robust rate?
What are the growth opportunities that may emerge in Grain Oriented Electrical Steel industry in the years to come?
What are the key challenges that the global Grain Oriented Electrical Steel market may face in future?
Which are the leading companies in the global Grain Oriented Electrical Steel market?
Which are the key trends positively impacting the market growth?
Which are the growth strategies considered by the players to sustain hold in the global Grain Oriented Electrical Steel market?
 

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