With the emergence and long-term Impact of COVID-19, Global Non-Grain Oriented Electrical Steel Market to reach USD 26.05 Billion by 2030
Bizwit Research & Consulting LLP’s recent analysis on the Global Non-Grain Oriented Electrical Steel Market points towards a potential rise to USD 26.05 Billion by 2030. Non-grain-oriented electrical steel (NGOES) is a type of electrical steel that is made of a thin sheet of steel that has been processed to achieve a specific magnetic property. It is specific steel created to give electrical applications certain magnetic qualities, such as high permeability and minimal hysteresis loss. This steel is the best option in situations when the magnetic field is not oriented in a certain direction. Surging demand for electricity, rapid infrastructure development, rising urbanization, and increasing demand for electrical equipment are leading to the high adoption of non-grain oriented electrical steel globally.
Geographically, the global Non-Grain Oriented Electrical Steel market has been segmented into North America, Europe, Asia Pacific (APAC), Latin America, and Middle East and Africa (MEA). North America dominated the market in 2022 owing to the growing demand for energy, rising technological advancements in the production of non-grain oriented electrical steel, along with the increasing trend toward electric vehicles (EVs) and hybrid electric vehicles (HEVs). Whereas, Asia Pacific is expected to grow at the highest CAGR over the forecast years. Rising infrastructure development in emerging economies, significant untapped growth potential, and rapid expansion of renewable energy sources are significantly propelling the market demand across the region.
The global Non-Grain Oriented Electrical Steel market is highly competitive owing to the presence of several key players such as Benxi Steel Group Co., Ltd (China) CSC Steel Sdn. Bhd. (Malaysia) Tata Steel (India) Nucor Corporation (U.S.) ArcelorMittal S.A. (Luxembourg) Shougang Group (China) Arnold Magnetic Technologies (U.S.) Baosteel Group Corporation (China) POSCO (South Korea) NIPPON STEEL CORPORATION (Japan), and others.
For further analysis on this or to request a sample copy of this report, please click the link mentioned below:
Key findings of the study suggest:
- Global Non-Grain Oriented Electrical Steel Market is anticipated to grow with a healthy growth rate of more than 5.1% over the forecast period 2023-2030.
- In the Type segment, Semi-processed emerged out as the leading market segment in 2022.
- North America is anticipated to drive regional growth owing to the growing demand for energy, rising technological advancements in the production of non-grain oriented electrical steel, along with the increasing trend toward electric vehicles (EVs) and hybrid electric vehicles (HEVs).
- Asia Pacific is expected to grow at higher rate followed by Europe during 2023-2030.
Bizwit Research & Consulting has considered following segments for the study:
By Type:
- Semi-processed
- Fully Processed
By Thickness:
- 0.35 mm
- 0.5 mm
- 0.65 mm
- Others
By Application:
- Household Appliances
- AC Motor
- Power Generation
- Others
Regional Outlook
- North America
- US
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Korea
- Australia
- RoAPAC
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
To get a sample of this report or to purchase a copy of the study, you can directly contact us at: sales@bizwitresearch.com
About Us
Bizwit Research & Consulting LLP is a global provider of business intelligence & consulting services. The company has a strong primary base of key industry leaders along with the chain of industry analysts to analyze the market trends and its future impact in order to estimates and forecast different business segments and markets. Bizwit incorporate big data, expert analysis, and huge industry database to deliver client focused business consulting reports. Our analysts perform unbiased measurement and assessment of market opportunities to comprehend detailed market forecast. Our team of key opinion leaders evaluates the market size, growth prospects, end-use, applications, value & supply chain and top vendors in the industry to help the clients to take conversant business decisions without any vague assumptions.
Contact US
Global Business Development
Phone: +1 209 498-3066
Email: Sales@bizwitresearch.com
Website: www.bizwitresearch.com
