Global Grain Oriented Electrical Steel Sheet Market Growth 2023-2029

Global Grain Oriented Electrical Steel Sheet Market Growth 2023-2029

According to our (LP Info Research) latest study, the global Grain Oriented Electrical Steel Sheet market size was valued at US$ 8261.3 million in 2022. With growing demand in downstream market and recovery from influence of COVID-19 and the Russia-Ukraine War, the Grain Oriented Electrical Steel Sheet is forecast to a readjusted size of US$ 10380 million by 2029 with a CAGR of 3.3% during review period.

The research report highlights the growth potential of the global Grain Oriented Electrical Steel Sheet market. With recovery from influence of COVID-19 and the Russia-Ukraine War, Grain Oriented Electrical Steel Sheet are expected to show stable growth in the future market. However, product differentiation, reducing costs, and supply chain optimization remain crucial for the widespread adoption of Grain Oriented Electrical Steel Sheet. Market players need to invest in research and development, forge strategic partnerships, and align their offerings with evolving consumer preferences to capitalize on the immense opportunities presented by the Grain Oriented Electrical Steel Sheet market.

Electrical steel is an alloy that contains iron and silicon. It can be manufactured by modifying the magnetic properties of steel for efficient magnetism and electricity conversion. Also called silicon steel, lamination steel, relay steel or transformer steel, this type of steel is very often used to build the cores of transformers as well as the stators of generators and motors. An electrical steel sheet is a functional material used as an iron core material for electrical equipment. There are two types of electrical steel: grain oriented electrical steel and non-grain oriented electrical steel, and they are used for different applications.

This report mainly focuses on grain oriented electrical steel sheet. Grain oriented electrical steel is composed of iron with 3 % Si content with grains oriented to deliver high permeability and low energy loss. Grain oriented electrical steels have strong crystallographic properties. Grain oriented type undergoes a recrystallization process resulting in an enhanced grain structure which shows better magnetic properties in the rolling direction of the sheet. Grain oriented electrical steels are mostly used for transformers.

Global key players of Grain Oriented Electrical Steel Sheet include Baoshan Iron & Steel, Nippon Steel, etc. The top two players hold a share over 37%.

Asia-Pacific is the largest market, has a share about 65%, followed by Europe and North America, with share 19% and 8%, separately.

In terms of product type, HGO is the largest segment, occupied for a share of 70%, and in terms of application, Transformer has a share about 97%.

Key Features:

The report on Grain Oriented Electrical Steel Sheet market reflects various aspects and provide valuable insights into the industry.

Market Size and Growth: The research report provide an overview of the current size and growth of the Grain Oriented Electrical Steel Sheet market. It may include historical data, market segmentation by Type (e.g., HGO, CGO), and regional breakdowns.

Market Drivers and Challenges: The report can identify and analyse the factors driving the growth of the Grain Oriented Electrical Steel Sheet market, such as government regulations, environmental concerns, technological advancements, and changing consumer preferences. It can also highlight the challenges faced by the industry, including infrastructure limitations, range anxiety, and high upfront costs.

Competitive Landscape: The research report provides analysis of the competitive landscape within the Grain Oriented Electrical Steel Sheet market. It includes profiles of key players, their market share, strategies, and product offerings. The report can also highlight emerging players and their potential impact on the market.

Technological Developments: The research report can delve into the latest technological developments in the Grain Oriented Electrical Steel Sheet industry. This include advancements in Grain Oriented Electrical Steel Sheet technology, Grain Oriented Electrical Steel Sheet new entrants, Grain Oriented Electrical Steel Sheet new investment, and other innovations that are shaping the future of Grain Oriented Electrical Steel Sheet.

Downstream Procumbent Preference: The report can shed light on customer procumbent behaviour and adoption trends in the Grain Oriented Electrical Steel Sheet market. It includes factors influencing customer ' purchasing decisions, preferences for Grain Oriented Electrical Steel Sheet product.

Government Policies and Incentives: The research report analyse the impact of government policies and incentives on the Grain Oriented Electrical Steel Sheet market. This may include an assessment of regulatory frameworks, subsidies, tax incentives, and other measures aimed at promoting Grain Oriented Electrical Steel Sheet market. The report also evaluates the effectiveness of these policies in driving market growth.

Environmental Impact and Sustainability: The research report assess the environmental impact and sustainability aspects of the Grain Oriented Electrical Steel Sheet market.

Market Forecasts and Future Outlook: Based on the analysis conducted, the research report provide market forecasts and outlook for the Grain Oriented Electrical Steel Sheet industry. This includes projections of market size, growth rates, regional trends, and predictions on technological advancements and policy developments.

Recommendations and Opportunities: The report conclude with recommendations for industry stakeholders, policymakers, and investors. It highlights potential opportunities for market players to capitalize on emerging trends, overcome challenges, and contribute to the growth and development of the Grain Oriented Electrical Steel Sheet market.

Market Segmentation:

Grain Oriented Electrical Steel Sheet market is split by Type and by Application. For the period 2018-2029, the growth among segments provides accurate calculations and forecasts for consumption value by Type, and by Application in terms of volume and value.

Segmentation by type
HGO
CGO

Segmentation by application
Transformer
Others

This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
Baoshan Iron & Steel Co., Ltd.
Nippon Steel Corporation
NLMK Group
ThyssenKrupp AG
AK Steel Corporation (Cleveland-Cliffs Inc.)
JFE Steel Corporation
Beijing Shougang Co., Ltd.
Posco International Corporation
Chongqing Wangbian Electric (Group) Corp., Ltd.
Stalprodukt S.A.
Baotou Weifeng Rare Earth Electromagnetic Material Co., Ltd.
Ningbo Yinyi Group Co., Ltd.
Aperam S.A.
Zhejiang Huaying New Material Technology Co., Ltd.
Wuxi Huajing New Materials Co., Ltd.
Jiangyin Huashi Huaxi Cold Rolled Strip Co., Ltd.
Jiangsu Beichen Hubang Electric Power Co., Ltd.

Key Questions Addressed in this Report

What is the 10-year outlook for the global Grain Oriented Electrical Steel Sheet market?

What factors are driving Grain Oriented Electrical Steel Sheet market growth, globally and by region?

Which technologies are poised for the fastest growth by market and region?

How do Grain Oriented Electrical Steel Sheet market opportunities vary by end market size?

How does Grain Oriented Electrical Steel Sheet break out type, application?

What are the influences of COVID-19 and Russia-Ukraine war?

Please note: The report will take approximately 2 business days to prepare and deliver.