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Non-Grain Oriented Electrical Steel Market 2023 : Trends, Business Growth And Major Driving Factors | ThyssenKrupp AG, ArcelorMittal SA, Pohang Iron and Steel Company (POSCO), Nippon Steel Corporation
Non-Grain Oriented Electrical Steel Global Market
The Business Research Company's Non-Grain Oriented Electrical Steel Global Market Report 2023 identifies 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.
The global non-grain oriented electrical steel market size is expected to grow from $13.58 billion in 2022 to $14.32 billion in 2023 at a compound annual growth rate (CAGR) of 5.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. 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 size of non-grain oriented electrical steel market is expected to reach $16.96 billion in 2027 at a CAGR of 4.3%.
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Major players in the non-grain oriented electrical steel market are ThyssenKrupp AG, ArcelorMittal SA, Pohang Iron and Steel Company (POSCO), Nippon Steel Corporation, Ansteel Group Corporation Limited, Shagang Group Co. Ltd., Shougang Group Co. Ltd., Nucor, Baosteel Group Corporation, JFE Holdings Inc., Tata Steel Limited, Cleveland-Cliffs Inc., United States Steel Corporation, Voestalpine AG, NoVo Lipetsk Steel, Gerdau S/A, Benxi Steel Group Co. Ltd, Aperam S.A., China BaoWu Steel Group Corporation Limited, Taiyuan Iron and Steel Co. Ltd., Malaysia Steel Works (KL) Bhd., CSC Steel Sdn. Bhd., Arnold Magnetic Technologies Corporation, Yieh Corp., Lamination Specialties Corp., AK Steel International B.V, Johnson Bros. Roll Forming Co., Continental Steel & Tube Co., TC Metal Co., and AAA Metals Co. Inc.
A key trend in the Non-Grain Oriented Electrical Steel market includes the Product innovation is the major trend gaining momentum in the non-grain-oriented electrical steel market.
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The Non-Grain Oriented Electrical Steel market 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
By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia Pacific was the largest region in the Non-Grain Oriented Electrical Steel market.
The Business Research Company's "Global Non-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 Non-Grain Oriented Electrical Steel Market Include:
1. Executive Summary
2. Non-Grain Oriented Electrical Steel Market Characteristics
3. Non-Grain Oriented Electrical Steel Market Trends And Strategies
4. Non-Grain Oriented Electrical Steel Market - Macro Economic Scenario
5. Non-Grain Oriented Electrical Steel Market Size And Growth
……
27. Non-Grain Oriented Electrical Steel Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Non-Grain Oriented Electrical Steel Market
29. Non-Grain Oriented Electrical Steel Market Future Outlook and Potential Analysis
30. Appendix
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