Strategic Partnership And Development In The Grain-Oriented Electrical Steel Market Trend: A Crucial Influence on the Grain Oriented Electrical Steel Market's Transformation in 2025

What industry-specific factors are fueling the growth of the grain oriented electrical steel market?
The surge in electric vehicle popularity is set to drive growth in the grain-oriented electric steel market. Electric vehicles (EVs), cars driven by one or more electric motors, rely on either stored electricity or an external power source, such as a charging station, for propulsion. Grain-oriented electric steel plays a critical role in the creation of EV charging infrastructure. It indirectly aids the production and functioning of EVs through its usage in motors, charging stations, and power electronics as an essential component of the wider electricity and power sectors. For example, in April 2023, according to data from the France-based International Energy Agency, electric vehicle sales reached over 10 million worldwide in 2022, forecasted to grow by an additional 35% in 2023, hitting 14 million. Furthermore, the World Economic Forum, a non-governmental and lobbying organization based in Switzerland, revealed that around 4.3 million battery-powered electric cars (BEVs) and plug-in hybrid electric vehicles (PHEVs) were sold worldwide in the first six months of 2022. PHEV sales grew by 37% and BEVs by 75% annually in 2022. Consequently, the rising popularity of electric vehicles is fuelling the expansion of the grain-oriented electric steel market.

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What Is the projected market size and growth rate for the grain oriented electrical steel market?
In the past few years, the market size for grain oriented electrical steel has seen steady growth. It is expected to increase from $7.41 billion in 2024 to $7.56 billion in 2025, with a compound annual growth rate (CAGR) of 2.1%. Factors that have contributed to this growth in the historic period include a surge in demand for power generation, expansion of power infrastructure, industrialisation and urbanisation, improvements in electrical equipment efficiency, and the integration of renewable energy.

There's a projection for steady enlargement in the grain oriented electrical steel market over the next few years, expanding to "$8.6 billion by 2029 with a 3.3% compound annual growth rate (CAGR). Factors contributing to the expected growth during this future period include persistent increase in power demand, the advent of smart grid technology, growth in the production of electric vehicles, implementation of energy efficiency rules, and escalating investment in transmission and distribution infrastructure. Significant trends within this same period encompass growth in electric vehicle facilities, strategic alliances and partnerships, a focus on sustainable and green technology, market broadening in Asia-Pacific, and improvement in supply chain processes.

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What new trends are reshaping the grain oriented electrical steel market and its opportunities?
Major companies operating in the grain-oriented electrical steel (GOES) sector are forging strategic alliances and collaborations to maintain their market standing. Such partnerships entail mutual relationships established between two or more firms to fulfill explicit business targets or objectives. For instance, JSW Steel Limited, a steel corporation based in India, joined forces with JFE Steel Corporation, a Japanese counterpart, in February 2024. Their objective is to initiate the production of grain-oriented electrical steel (GOES) in India, with plans for complete production to start by 2027. This alliance not only meets the immediate needs of the market but also strategically positions both JSW Steel and JFE Steel for future expansion in a sector that favors sustainability and energy efficacy.

What major market segments define the scope and growth of the grain oriented electrical steel market?
The grain oriented electrical steel market covered in this report 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

Subsegments:
1) By High Magnetic Strength: High Performance Grades, Ultra-Low Loss Grades, High Efficiency Grades
2) By Conventional: Standard Grades, Basic Grades For Transformer Applications, General Purpose Grades
3) By Domain Refinement: Thin Gauge Grades, High-Performance Domain Refined Grades, Grades For High-Frequency Applications

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Which region dominates the grain oriented electrical steel market?
Asia-Pacific was the largest region in the global grain-oriented electrical steel market in 2024. The regions covered in the grain oriented electrical steel market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

Which key market leaders are driving the grain oriented electrical steel industry growth?
Major companies operating in the grain oriented electrical steel market include Thyssenkrupp AG, POSCO International Corporation, Nippon Steel Corporation, JFE Steel Corporation, NLMK Group, Baowu Group, AK Steel Holdings Corporation, Tata Steel Limited, ArcelorMittal, Shougang Group Co Ltd., Cleveland-Cliffs Inc., Aperam SA, TC Metal Co, Mapes & Sprowl Steel LLC, Tempel Steel, China Baowu Steel Group Corp Ltd., Gerdau S.A., Allegheny Technologies Incorporated, United States Steel Corporation, Voestalpine Group, CSC Steel Sdn. Bhd., Kobe Steel Ltd., Sumitomo Metal Industries Ltd., Baosteel Group Corporation, Jindal Steel and Power Limited, JSW Steel Ltd., Essar Steel, Cogent Power Limited, Ansteel Group Corporation Limited, Baoshan Iron & Steel Co. Ltd., Benxi Iron and Steel Group Co. Ltd., Hebei Iron and Steel Group Co. Ltd., Hunan Valin Steel Co. Ltd., Jiangsu Shagang Group Co. Ltd., Maanshan Iron & Steel Company Limited, Shandong Iron and Steel Group Co. Ltd., Tata Iron and Steel Company Limited, World Industrial Specialty Company Inc, Wuhan Iron and Steel (Group) Corp.

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What Is Covered In The Grain Oriented Electrical Steel Global Market Report?

• Market Size Forecast: Examine the grain oriented electrical steel market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the grain oriented electrical steel market for a structured understanding.
• Key Players Overview: Analyze major players in the grain oriented electrical steel market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the grain oriented electrical steel market.
• Segment Contributions: Evaluate how different segments drive overall growth in the grain oriented electrical steel market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the grain oriented electrical steel market.
• Industry Challenges: Identify potential risks and obstacles affecting the grain oriented electrical steel market.
• Competitive Landscape: Review strategic developments in the grain oriented electrical steel market, including expansions, agreements, and new product launches.

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