The Grain Oriented Electrical Steel Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Grain Oriented Electrical Steel Global Market Report 2024, The grain oriented electrical steel market size has grown steadily in recent years. It will grow from $7.3 billion in 2023 to $7.54 billion in 2024 at a compound annual growth rate (CAGR) of 3.3%. The growth in the historic period can be attributed to increased demand in power generation, expansion of power infrastructure, industrialization and urbanization, efficiency improvements in electrical equipment, renewable energy integration.
The grain oriented electrical steel market size is expected to see steady growth in the next few years. It will grow to $8.46 billion in 2028 at a compound annual growth rate (CAGR) of 2.9%. The growth in the forecast period can be attributed to continued growth in power demand, smart grid implementation, rise in electric vehicle production, energy efficiency regulations, increasing investments in transmission and distribution networks.. Major trends in the forecast period include rise in electric vehicle infrastructure, strategic collaborations and partnerships, focus on sustainable and green technologies, market expansion in asia-pacific, supply chain optimization.
The increasing demand for electric vehicles is expected to propel the demand for the grain-oriented electric steel market going forward. Electric vehicles (EVs) refer to automobiles that are powered by one or more electric motors. They use electricity stored in batteries or obtained from an external power source, such as a charging station, to propel the vehicle. Grain-oriented electrical steel is crucial for the development of electric vehicle charging infrastructure. Its role in the larger electrical and power industries indirectly supports the development and operation of electric vehicles through its application in motors, charging infrastructure, and power electronics. For instance, in April 2023, according to the report released by the International Energy Agency., a France-based intergovernmental organization, more than 10 million electric vehicles were sold worldwide in 2022, and these sales are expected to increase by another 35% in 2023 to reach 14 million. Also, in 2022, the World Economic Forum, a Switzerland-based international non-governmental and lobbying organization, reported that in the first half of 2022, almost 4.3 million battery-powered electric cars (BEVs) and plug-in hybrid electric vehicles (PHEVs) were sold globally. PHEV sales increased by 37% and BEVs by 75% yearly in 2022. Therefore, increasing demand for electric vehicles is driving the growth of the grain-oriented electric steel market.
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The grain oriented electrical steel market covered in this report is segmented –
1) Grain Oriented Electrical Steel Market By Type: High Magnetic Strength, Conventional, Domain Refinement
2) Grain Oriented Electrical Steel Market By Application: Transformer, Power Generator, Motor, Other Applications
3) Grain Oriented Electrical Steel Market 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
Product innovation is the key trend gaining popularity in the grain-oriented electric steel market. Major companies operating in the grain-oriented electric steel market are developing innovative products to strengthen their position in the market. For instance, in October 2021, ThyssenKrupp AG., a Germany-based engineering company that manufactures grain-oriented electrical steel, launched Bluemint steel, a high-quality flat steel with reduced CO2 intensity. This innovative product has a power core with 50% less CO2 intensity. Due to its reduced core losses, low-emission electric steel offers great current transport efficiency. Bluemint steel is designed to manufacture transformers using electrical steel that has been CO2-reduced for new digital E.ON medium-voltage substations. Additionally, it includes features such as corrosion resistance, recycling, aesthetics, formability, and improved sustainability.
The grain oriented electrical steel market report table of contents includes:
1. Executive Summary
2. Grain Oriented Electrical Steel Market Characteristics
3. Grain Oriented Electrical Steel Market Trends And Strategies
4. Grain Oriented Electrical Steel Market - Macro Economic Scenario
5. Global Grain Oriented Electrical Steel Market Size and Growth
.....
31. Global Grain Oriented Electrical Steel Market Competitive Benchmarking
32. Global Grain Oriented Electrical Steel Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Grain Oriented Electrical Steel Market
34. Grain Oriented Electrical Steel Market Future Outlook and Potential Analysis
35. Appendix
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A business intelligence report on the global Electrical Steel market offers quantitative estimation of the opportunities and qualitative assessment various growth dynamics.
The study highlights estimations of the opportunities in the historical period, and offers several projections during the forecast period.The following are taken into consideration:Historical Period: 2015 – 2019Forecast Period: 2020 – 2030Request to View Sample of Research Report @ https://www.factmr.com/connectus/sample?flag=S_id=2397Key Focus Areas of Report on Global Electrical Steel MarketThe study on the Electrical Steel market includes detailed market estimations of opportunities in various segments and their share/size globally in each year during the forecast period.
The following are the broad insights that form the backbone of the evaluation of the Electrical Steel market.Detailed segmentation to at least two levels based on various parameters that include region, end user/application, and product/technology/service type/modelCurrent valuation of all the key segmentsProjected CAGR of the key segments from 2020 – 2030Qualitative analyses of the growth trajectory of the Electrical Steel market year-over-year; these include scrutiny of the key growth dynamics: drivers, restraints, winning imperatives for players, challenges, and opportunitiesProfile of prominent players in the Electrical Steel marketStrategies and Recent Moves made by them to consolidate their positionsCOVID-19 disruptions in macroeconomic dynamics that will shape the future contours of the market dynamicsAttractiveness of key product/technology segmentsSegmental Analysis Comprise the following.Based on End-use Industry/Application,AutomobileEnergyHousehold ApplianceManufacturingBased on Product/Technology,Grain-Oriented Electrical SteelNon-Grain Oriented Electrical SteelBased on Region,North AmericaLatin AmericaEuropeJapanAPEJMEATop players includeArcelorMittal S.A.Baosteel Group CorporationPOSCONovolipetsk SteelWhat Businesses Can Hope to Get in Business Intelligence on Electrical Steel Market?The study insights on the Electrical Steel market growth dynamics and opportunities highlights various key aspects, in which crucial ones are:Which are the technology and strategic areas that emerging, new entrants, and established players should focus on keep growing in the industry-wide disruptions that COVID-19 has caused?Which new avenues bear incredible potential during the ongoing COVID-19 lockdown restrictions?Which policies by governments can give the top stakeholders support their efforts of consolidation?What new business models are gathering pace among companies to remain agile in post-COVID-era?Which segments will see a surge in popularity in near future, and what calibrations players need to make to utilize the trend for an elongated period?To Know More Information about This Report, Ask The Analyst @ https://www.factmr.com/connectus/sample?flag=AE_id=2397Insights and Perspectives that make this Study on Electrical Steel Market Stand OutThe analysts who have prepared the report have been keen observers of the dynamism due to macroeconomic upheavals.
Using the best industry assessment quantitative methods and data integration technologies, they have come out with a holistic overview of the future growth trajectories of the Electrical Steel market.
Fact-based insights and easy-to-comprehend information based on wide spectrum of market data is what makes this study different from competitors.The following evaluations create a differentiating approach towards understanding the market dynamics and presenting the crux to its readers:The analysts harness rigorous statistical analytical tools combined with their expertise to identify imminent investment pockets in various regions and in various technology segments.The study offers a broad framework for businesses to assess the change in policies on their internal growth dynamics.The study strives to offer a multi-dimensional and inter-industry evaluation of the market impacts on recent mergers and acquisitions, deals and partnerships, and venture funding.The analysts have presented this information in easy-to-understand formats.About Fact.MRFact.MR is a fast-growing market research firm that offers the most comprehensive suite of syndicated and customized market research reports.
We believe transformative intelligence can educate and inspire businesses to make smarter decisions.
The‘Global Grain Oriented Electrical Steel Market Report’ is a comprehensive and in-depth study on the size, share, growth,trends, demand and estimation with a focus on the latest development.
The report provides key statistics on the market status with highlights on various important strategic such as mergers, acquisitions, partnership and other development.The report segments the grain oriented electrical steel market and analyses it with respect to the geography, intending to keep the marketer informed and help them identify the target demographics for the product or service.Request a FREE Sample Copy of Global Grain Oriented Electrical Steel Market Report with Full TOC At: https://www.valuemarketresearch.com/contact/grain-oriented-electrical-steel-market/download-sampleBy Type AnalysisConventionalHigh Magnetic StrengthDomain RefinementBy Application AnalysisTransformerPower GeneratorElectric MotorOthersBrowse Full Global Grain Oriented Electrical Steel Market Research Report With TOC At: https://www.valuemarketresearch.com/report/grain-oriented-electrical-steel-marketThe research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the grain oriented electrical steel market include Shandong Iron & Steel Group Co. Ltd., Steel Authority of India Ltd., ArcelorMittal S.A., Tata Steel Ltd., Nippon Steel & Sumitomo Metal Corp. (NSSMC) Group, United States Steel Corp., China Baowu Steel Group Corp. Ltd., Jiangsu Shangang Group Co. Ltd., JFE Steel Corp., Ansteel Group Corp., AK Steel Holding.S.
This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.This section covers regional segmentation which accentuates on current and future demand for grain oriented electrical steel market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa.
Further, the report focuses on demand for individual application segment across all the prominent regions.Purchase complete Global Grain Oriented Electrical Steel Market Research Report At: https://www.valuemarketresearch.com/contact/grain-oriented-electrical-steel-market/buy-nowAbout Us:Value Market Research was established with the vision to ease decision making and empower the strategists by providing them with holistic market information.We facilitate clients with syndicate research reports and customized research reports on 25+ industries with global as well as regional coverage.Contact:Value Market Research401/402, TFM, Nagras Road, Aundh, Pune-7.Maharashtra, INDIA.Tel: +1-888-294-1147Email: [email protected]: https://www.valuemarketresearch.com
