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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.
LPI (LP Information)' newest research report, the "Grain Oriented Electrical Steel Industry Forecast" looks at past sales and reviews total world Grain Oriented Electrical Steel sales in 2022, providing a comprehensive analysis by region and market sector of projected Grain Oriented Electrical Steel sales for 2023 through 2029. With Grain Oriented Electrical Steel sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Grain Oriented Electrical Steel industry.
This Insight Report provides a comprehensive analysis of the global Grain Oriented Electrical Steel landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Grain Oriented Electrical Steel portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms' unique position in an accelerating global Grain Oriented Electrical Steel market.
This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Grain Oriented Electrical Steel and breaks down the forecast by type, by application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Grain Oriented Electrical Steel.
The global Grain Oriented Electrical Steel market size is projected to grow from US$ 6275 million in 2022 to US$ 7847.9 million in 2029; it is expected to grow at a CAGR of 7847.9 from 2023 to 2029.
The major players in global Grain Oriented Electrical Steel market include Baowu Group, Nippon Steel Corporation, AK Steel, etc. The top 3 players occupy about 50% shares of the global market. APAC and Europe are main markets, they occupy about 85% of the global market. High Magnetic Strength is the main type, with a share about 55%. Transformer is the main application, which holds a share about 70%.
This report presents a comprehensive overview, market shares, and growth opportunities of Grain Oriented Electrical Steel market by product type, application, key manufacturers and key regions and countries.
Market Segmentation:
Segmentation by type
- High Magnetic Strength
- Conventional
- Domain Refinement
Segmentation by application
- Transformer
- Power Generator
- Motor
- 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.
- Baowu Group
- Nippon Steel Corporation
- AK Steel
- NLMK Group
- Shougang
- ThyssenKrupp
- JFE Steel
- Posco
- Stalprodukt S.A.
- Ansteel
Key Questions Addressed in this Report
What is the 10-year outlook for the global Grain Oriented Electrical Steel market?
What factors are driving Grain Oriented Electrical Steel market growth, globally and by region?
Which technologies are poised for the fastest growth by market and region?
How do Grain Oriented Electrical Steel market opportunities vary by end market size?
How does Grain Oriented Electrical Steel break out type, application?
What are the influences of COVID-19 and Russia-Ukraine war?