Grain Oriented Electrical Steel Market Is Thriving Worldwide During The Forecast Period 2023-2030

PUNE, MAHARASHTRA, INDIA, August 7, 2023/EINPresswire.com/ -- "Grain Oriented Electrical Steel Market" [2023-2030] Research Report Analysis and Outlook Insights | Latest Updated Report | The Grain Oriented Electrical Steel Market is segmented into Regions, Applications (Transformer, Motor, Others), and Types (High Magnetic Strength, Conventional). The report presents the research and analysis provided within the Grain Oriented Electrical Steel Market Research is meant to benefit stakeholders, vendors, and other participants in the industry. This report is of 105 Pages long. The Grain Oriented Electrical Steel market is expected to grow annually by magnificent (CAGR 2023 - 2030).

Who is the largest manufacturers of Grain Oriented Electrical Steel Market worldwide?

Baowu Group
NLMK
Nippon Steel
AK Steel (Cleveland-Cliffs)
Shougang
Posco
JFE Steel
ThyssenKrupp
Stalprodukt S.A.
Baotou Weifeng Rare Earth Electromagnetic Materials Co., Ltd.
Aperam
Chongqing Wangbian Electric (Group) Corp., Ltd.
Yinyi Group
Zhejiang Huaying New Material Technology Co., Ltd.
Wuxi Huajing New Materials Co., Ltd.
New Wanxin (Fujian) Precision Small Board Co.,Ltd.
Guangdong Yingquan High-tech New Material Co., Ltd.
Wuxi Win steel Technology Co., Ltd.

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Short Description About Grain Oriented Electrical Steel Market:

The Global Grain Oriented Electrical Steel market is anticipated to rise at a considerable rate during the forecast period, between 2023 and 2030. In 2022, the market is growing at a steady rate and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon.

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. In this report we researched grain oriented electrical steel.

Grain oriented electrical steels are iron-silicon magnetic alloys. These alloys are used to construct the cores of highly-efficient electric transformers due to their unique magnetic properties. Available in grades M-2, M-3, M-4, M-5 and M-6, with superior magnetic properties in the rolling direction, oriented steels are used in transformer cores. They are used in large generators and other apparatus when the design permits the directional magnetic characteristics to be used efficiently.

Grain oriented electrical steel usually has a silicon level of 3%. It is processed in such a way that the optimal properties are developed in the rolling direction, due to a tight control (proposed by Norman P. Goss) of the crystal orientation relative to the sheet. Grain oriented electrical steels are usually applied in transformers, rectifiers and so on.

Market Analysis and Insights:

Due to the COVID-19 pandemic, the global Grain Oriented Electrical Steel market size is estimated to be worth US$ 6625.3 million in 2022 and is forecast to a readjusted size of US$ 7984.9 million by 2028 with a CAGR of 3.2% during the forecast period 2022-2028. Fully considering the economic change by this health crisis, High Magnetic Strength accounting for % of the Grain Oriented Electrical Steel global market in 2021, is projected to value US$ million by 2028, growing at a revised % CAGR from 2022 to 2028. While Transformer segment is altered to an % CAGR throughout this forecast period.

The major players in global Grain Oriented Electrical Steel market include Baowu Group, Nippon Steel Corporation, AK Steel, etc. The top 1 player occupy about 50% shares of the global market. China occupies about 50% of the global market. High magnetic strength is the main type, with a share about 75%. Transformer is the main application, which holds a share about 90%.

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What are the factors driving the growth of the Grain Oriented Electrical Steel Market?

Growing demand for below applications around the world has had a direct impact on the growth of the Grain Oriented Electrical Steel

Transformer
Motor
Others

What are the types of Grain Oriented Electrical Steel available in the Market?

Based on Product Types the Market is categorized into Below types that held the largest Grain Oriented Electrical Steel market share In 2022.

High Magnetic Strength
Conventional

Which regions are leading the Grain Oriented Electrical Steel Market?

North America (United States, Canada and Mexico)
Europe (Germany, UK, France, Italy, Russia and Turkey etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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This Grain Oriented Electrical Steel Market Research/Analysis Report Contains Answers to your following Questions

What are the global trends in the Grain Oriented Electrical Steel market? Would the market witness an increase or decline in the demand in the coming years?
What is the estimated demand for different types of products in Grain Oriented Electrical Steel? What are the upcoming industry applications and trends for Grain Oriented Electrical Steel market?
What Are Projections of Global Grain Oriented Electrical Steel Industry Considering Capacity, Production and Production Value? What Will Be the Estimation of Cost and Profit? What Will Be Market Share, Supply and Consumption? What about Import and Export?
Where will the strategic developments take the industry in the mid to long-term?
What are the factors contributing to the final price of Grain Oriented Electrical Steel? What are the raw materials used for Grain Oriented Electrical Steel manufacturing?
How big is the opportunity for the Grain Oriented Electrical Steel market? How will the increasing adoption of Grain Oriented Electrical Steel for mining impact the growth rate of the overall market?

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Sambit Kumar
360 Research Reports
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