Global Cold Rolled Non-Oriented (CRNO) Steel lamination Market Size, Share & Trends Analysis Report, By Product Type, By Application, By End-Use Industry, By Region Forecasts, 2023 - 2030

Global Cold Rolled Non-Oriented (CRNO) Steel lamination Market Size, Share & Trends Analysis Report, By Product Type, By Application, By End-Use Industry, By Region Forecasts, 2023 - 2030

Global Cold Rolled Non-Oriented (CRNO) Steel lamination Market was valued at US $ 28.6 Billion in 2022 and is expected to reach US $ 42.9 Billion by 2030 growing at a CAGR of 5.2% during the forecast period 2023 – 2030.

The world market for a specialised steel material made by a special cold rolling and annealing process that imparts particular electrical and magnetic characteristics is known as the Cold Rolled Non-Oriented (CRNO) Steel Lamination Market. These laminations are essential parts of electrical equipment that are used in a wide range of global industries and applications. The market comprises CRNO steel laminations that are oriented or non-oriented, offering a range of solutions for applications such as energy and power infrastructure, automobile manufacturing, industrial machinery, consumer appliances, and electronics. The market's extensive global reach is indicative of its crucial role in promoting sustainable practices and maximising energy efficiency. Because of its reputation for toughness, CRNO steel laminations are highly valued for use in demanding settings like factories, power plants, and other industrial settings.

The market for cold-rolled non-oriented (CRNO) steel lamination is growing at a steady rate, primarily due to the growing need for electricity and energy in various industries. The need to upgrade and expand the energy infrastructure—which includes electricity generation, transmission, and distribution—is the reason for this increased demand. As vital parts of transformers, generators, and motors, CRNO steel laminations play a crucial part in improving the effectiveness and reliability of these vital electrical systems. Moreover, the market gains prominence as a result of the world's transition to renewable energy sources like solar and wind power. CRNO steel laminations are essential for maximising the efficiency of transformers and generators in renewable energy systems, easily integrating with industrial goals for sustainable energy.

“Non-grain oriented CRNO steel lamination segment, by product type, to be dominating market from 2023 to 2030.”

In the Cold Rolled Non-Oriented (CRNO) Steel Lamination Market, non-grain oriented CRNO steel lamination is the main and fastest-growing product category. The process of creating non-grain oriented CRNO steel laminations start with cold rolling steel sheets, which are then annealed to remove any remaining tensions and achieve the appropriate magnetic properties. These laminations have uniform magnetic characteristics in all directions, making them useful for a wide range of applications. Non-grain oriented CRNO steel laminations are used in power transformers, motors, generators, and other electrical equipment in the energy and power sector.

“Power & distribution transformers segment, by application, to be dominating market from 2023 to 2030.”

Power and distribution transformers are the main application in the Cold Rolled Non-Oriented (CRNO) Steel Lamination Market. Transformer cores are used with CRNO steel laminations to improve magnetic permeability and reduce eddy current losses. These transformers are essential to many industries, such as distribution, transmission, and power generating. The requirement for power and distribution transformers is driven by the increase in global energy consumption, which in turn drives up the need for CRNO steel laminations in this industry.

“Energy & power segment, by end user industries, to be dominating market from 2023 to 2030.”

Driven by several attractive aspects, the Energy and Power segment has emerged as the leading and fastest-growing end-use industry in the Cold Rolled Non-Oriented (CRNO) Steel Lamination Market. The industry's steadfast dedication to energy efficiency is foremost among these; CRNO steel laminations excel in this regard due to their low energy loss characteristics. For vital electrical parts like transformers, generators, and motors, these laminations are the recommended option since they precisely match the industry's objective of maximising energy efficiency and minimising waste. In addition, the extensive use of renewable energy sources, such as solar and wind power, calls for extremely efficient electrical machinery.

“Asia Pacific to be largest and fastest growing region in Cold Rolled Non-Oriented (CRNO) Steel lamination market.”

In the Asia-Pacific area, the cold-rolled non-oriented (CRNO) steel lamination market is expanding at its fastest rate of growth. With a predicted Compound Annual Growth Rate (CAGR) of more than 6.3% from 2023 to 2030, the Asia-Pacific area dominated the global CRNO steel lamination market in 2022, accounting for more than 62% of the market. In the Asia-Pacific region, a number of factors come together to drive the growth of the CRNO steel lamination market. Growing infrastructure development and industrialization, especially in countries like China and India, generate a significant demand for CRNO steel laminations. These laminations maximise the energy efficiency of transformers, generators, and motors, among other applications.

Cold Rolled Non-Oriented (CRNO) Steel lamination Competitive Landscape

The competitive landscape of the Cold Rolled Non-Oriented (CRNO) Steel lamination market involves assessing the competitive landscape to understand the strengths, weaknesses, opportunities, and threats of the industry. Key industry players have recognized that the adoption of Cold Rolled Non-Oriented (CRNO) Steel lamination technology holds the potential for further growth. The growing desire among producers to optimize their production costs has spurred collaborative efforts among companies to scale up their production capacity. This strategic collaboration not only aims to increase revenue but also seeks to establish dominance in the market.

The Cold Rolled Non-Oriented (CRNO) Steel lamination market is highly competitive, with numerous companies vying for market share. Prominent companies in the Cold Rolled Non-Oriented (CRNO) Steel lamination Market include:

Nippon Steel Corporation (Japan), Voestalpine Group (Austria), ArcelorMittal (Luxembourg), Posco (South Korea), JFE Steel Corporation (Japan), Tata Steel (India), AK Steel Holding Corporation (United States), China Steel Corporation (CSC) (Taiwan), ThyssenKrupp Electrical Steel (Germany), SAIL (India), Cogent Power Limited (India), Nomax Electrical Steel (India), NLMK (Russia), Allegheny Technologies Incorporated (ATI) (United States), Severstal (Russia), Evraz (Russia), Magnitogorsk Iron and Steel Works (MMK) (Russia), Nisshin Steel (Japan), Tohoku Electrical Steel (Japan), Kyoei Steel (Japan), and others.

Recent Developments:

Nippon Steel Corporation announced plans to invest in a new plant in India in September 2023. The plant will be used to produce electrical steel sheets, including CRNO steel laminations. The projected start of operations for the plant is 2025.

In August 2023, the Voestalpine Group announced that a new generation of electrical steel with improved energy efficiency and lower magnetic losses would be available. The market should be able to have this cutting-edge steel by 2024.

In July 2023, Tata Steel said that it intended to increase the production capacity of CRNO steel laminations by twenty percent. The completion of this enlargement project is planned for 2024.

JFE Steel Corporation said in June 2023 that it was continuing development of a new CRNO steel lamination designed for optimal performance and specifically for use in electric vehicles. By 2025, the market can expect to have access to this state-of-the-art lamination.