2023 Grain Oriented Electrical Steel Market Size, Share, Growth, Latest Trends, Industry Analysis By 2032

The Business Research Company's global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company's Grain Oriented Electrical Steel Global Market Report 2023 identifies increasing demand for electric vehicles as the major driver for the Grain Oriented Electrical Steel market's growth in the forecast period. Electric vehicles (EVs) refer to automobiles that are powered by one or more electric motors. They use electricity stored in batteries or obtained from an external power source, such as a charging station, to propel the vehicle. Grain-oriented electrical steel is crucial for the development of electric vehicle charging infrastructure. Its role in the larger electrical and power industries indirectly supports the development and operation of electric vehicles through its application in motors, charging infrastructure, and power electronics

The global grain-oriented electrical steel market size is expected to grow from $7.03 billion in 2022 to $7.30 billion in 2023 at a compound annual growth rate (CAGR) of 3.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The grain-oriented electrical steel market size is expected to reach $8.15 billion in 2027 at a CAGR of 2.8%.

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Major competitors in the Grain Oriented Electrical Steel market are Thyssenkrupp AG, POSCO International Corporation, Nippon Steel Corporation, JFE Steel Corporation, NLMK Group, Tata Steel Limited, AK Steel Holdings Corporation, China Baowu Steel Group Corp Ltd., ArcelorMittal, Shougang Group Co Ltd., Cleveland-Cliffs Inc., Aperam SA, TC Metal Co, Mapes & Sprowl Steel LLC, and Tempel Steel.

A key trend in the Grain Oriented Electrical Steel market includes Product innovation. Major companies operating in the grain-oriented electric steel market are developing innovative products to strengthen their position in the market

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The Grain Oriented Electrical Steel market is segmented -
1) By Type: High Magnetic Strength, Conventional, Domain Refinement
2) By Application: Transformer, Power Generator, Motor, Other Applications
3) By End-User: Electrical Steel For Automobiles, Electrical Steel For Manufacturing, Electrical Steel For Energy Generation, Electrical Steel For Household Appliances, Electrical Steel For Other End Uses
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the Grain Oriented Electrical Steel market.

The Business Research Company's "Global Grain Oriented Electrical Steel Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.

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The Table Of Content For The Grain Oriented Electrical Steel Market Include:
1. Executive Summary
2. Grain Oriented Electrical Steel Market Characteristics
3. Grain Oriented Electrical Steel Market Trends And Strategies
4. Grain Oriented Electrical Steel Market - Macro Economic Scenario
5. Grain Oriented Electrical Steel Market Size And Growth
.......
26. Africa Grain Oriented Electrical Steel Market
27. Grain Oriented Electrical Steel Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Grain Oriented Electrical Steel Market
29. Grain Oriented Electrical Steel Market Future Outlook and Potential Analysis
30. Appendix

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