Grain Oriented Electrical Steel Market Forecast 2025-2034: Comprehensive Analysis And Growth Opportunities

The Grain Oriented Electrical Steel Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].

What Is the Projected Growth of the Grain Oriented Electrical Steel Market?
The Grain Oriented Electrical Steel Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].

What Is the Projected Growth of the Grain Oriented Electrical Steel Market?

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What Are the Different Grain Oriented Electrical Steel Market Segments?
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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What Are the Primary Drivers Shaping the Grain Oriented Electrical Steel Market?
The grain-oriented electric steel market's growth is projected to be spurred by the rising demand for electric vehicles (EVs). EVs, which are vehicles powered by one or more electric motors, rely on stored or externally sourced electricity - such as that from a charging station - for propulsion. Grain-oriented electrical steel is essential for creating EV charging infrastructure and plays a critical role in the broader electrical and power sectors, indirectly facilitating the development and functioning of EVs through its application in motor systems, charging facilities, and power electronics. For example, in April 2023, a study by the International Energy Agency, a French intergovernmental body, revealed that over 10 million EVs were sold across the globe in 2022 and projected a 35% surge in sales in 2023, taking the figure to 14 million vehicles. In a 2022 report, the World Economic Forum, a Swiss international non-governmental lobbying organization, stated that nearly 4.3 million battery-powered electric cars (BEVs) and plug-in hybrid electric vehicles (PHEVs) were sold worldwide in the first half of 2022. The report noted a 37% increase in PHEV sales and a 75% boost in BEVs in that same year. Consequently, the burgeoning demand for electric vehicles is steering the growth of the grain-oriented electrical steel market.

Which Companies Are Leading in the Grain Oriented Electrical Steel Market?
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.

What Are the Major Trends Shaping the Grain Oriented Electrical Steel Market?
Key players in the grain-oriented electrical steel market are entering into strategic alliances and partnerships to maintain their market dominance. These strategic collaborations are partnerships formed between two or more firms to accomplish specific business goals. For example, in February 2024, JSW Steel Limited, based in India, formed a partnership with JFE Steel Corporation, a Japanese steel company. Their partnership was formed with the goal of manufacturing grain-oriented electrical steel (GOES) in India, with production expected to be fully operational by 2027. This collaborative project meets immediate market demands and strategically positions JSW Steel and JFE Steel for future expansion in an industry focusing more on sustainability and energy efficiency.

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What Are the Top Revenue-Generating Geographies in 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

Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Grain Oriented Electrical Steel Market?
2. What is the CAGR expected in the Grain Oriented Electrical Steel Market?
3. What Are the Key Innovations Transforming the Grain Oriented Electrical Steel Industry?
4. Which Region Is Leading the Grain Oriented Electrical Steel Market?

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