Grain Oriented Electrical Steel Market Growth, Trends & Forecast 2024-2031 | Top key players - AK Steel, NLMK Group, JFE Steel.

The latest report published by DataM Intelligence highlights the growth prospects of Grain Oriented Electrical Steel market. The industry expansion is majorly driven by developments in technology across the globe.

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The Global Grain Oriented Electrical Steel Market is expected to grow at a CAGR 1.8% during the forecasting period (2024-2031).

Grain-oriented electrical steel (GOES) is a specialized steel used in transformers and electrical motors due to its superior magnetic properties. It is produced by controlling the grain structure during manufacturing, enhancing its efficiency in energy conversion. GOES reduces energy losses, making it essential for high-performance electrical equipment in power generation, transmission, and renewable energy systems.

Competitive Evaluation:

Companies covered in this report are Nippon Steel & Sumitomo Metal Corporation (NSSMC), Baowu Group, Thyssenkrupp Steel Europe, Arnold Magnetic Technologies, AK Steel, NLMK Group, JFE Steel, Posco, ArcelorMittal, Cogent (Tata Steel) and Others.

The Grain Oriented Electrical Steel Market analysis identifies a number of major market players. It enables companies to understand the strategies and partnerships used by other industry players to combat market competition. The comprehensive market report provides a fascinating microscopic look at the market. Corporations can detect the footprints of manufacturers by learning about demand, the global price of manufacturers, and the global benefit of manufacturing companies.

Key Development

In March 2021, Arnold Magnetic Technologies acquired Ramco Electric Motors, Inc., a manufacturer specializing in stators, rotors, and full electric motors. This acquisition is part of Arnold Magnetic Technologies' strategy to expand its already diverse product offerings and enhance its capabilities in providing industry-leading electric motor solutions. The move positions the company to better serve the growing demand for advanced electric motor technologies across various sectors.

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Grain Oriented Electrical Steel Market Segments

The report covers the segmentation of the market into different segments based on various classifications such as applications, end users, product types, and others. The segmentation is divided into two sections, one for development and the other for different roles, needs, and behaviors.

By Thickness: 0.025-0.05 mm, 0.05-0.10 mm, 0.10-0.15 mm, More than 0.15 mm.

By Form: Laminated Sheets, Wounds Sheets, Punched Sheets.

By Silicon Content: Below 3%, 3 %, More than 3%.

By Application: Transformers, Motors, Inductors, Others.

By End-User: Energy, Automotive, Manufacturing, Household Appliances, Others.

Regional Assessment:

Regional analysis includes segmentation based on the geography that accentuates the recent and future demand for Grain Oriented Electrical Steel market across North America, Europe, Asia-Pacific, Middle East & Africa, and South America. The study also focuses on the demand for each application segment over all the prominent regions.

⇥ North America (U.S., Canada, Mexico)

⇥ Europe (U.K., Italy, Germany, Russia, France, Spain, The Netherlands and Rest of Europe)

⇥ Asia-Pacific (India, Japan, China, South Korea, Australia, Indonesia Rest of Asia Pacific)

⇥ South America (Colombia, Brazil, Argentina, Rest of South America)

⇥ Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)

In terms of geographical analysis, Grain Oriented Electrical Steel Market report provides an in-depth view of:-

∎ Regional level break-up
∎ Leading growth rates
∎ Countries with the largest market share
∎ Market factors
∎ Latest developments
∎ Industry challenges
∎ Regulatory policies
∎ Player strategies

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This report provides a 360-degree synopsis of the competitive scenario of the Grain Oriented Electrical Steel industry. It has enormous awareness joined to the ongoing item and technical improvements in the business sector. It has a thorough analysis of the impact of the potential future development of these headways, a wide-ranging review of those extensions available for future growth.

Benefits of the Report:

➡ A descriptive analysis of demand-supply gap, market size estimation, SWOT analysis, PESTEL Analysis and forecast in the global market.

➡ Top-down and bottom-up approach for regional analysis

➡ Porter's five forces model gives an in-depth analysis of buyers and suppliers, threats of new entrants & substitutes and competition amongst the key market players.

➡ By understanding the value chain analysis, the stakeholders can get a clear and detailed picture of this Market

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