Non Grain Oriented Electrical Steel Market Size, Competitive Landscape and Market Forecast - 2029

SKU: DMMM396 | Last Updated On: Dec 21 2022 | Available Formats

>Non Grain Oriented Electrical Steel Market Expected to reach a high CAGR 5.17% by 2029: DataM Intelligence

Non-Grain Oriented Electrical Steel Market is segmented By Type (Fully Processed, Semi-Processed), By Application (Motors, Transformers, Inductors, Others), By End-user (Automotive Industry, Aviation, Power, Domestic Appliances, Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2022-2029

Non-Grain Oriented Electrical Steel Market Share, Size, Demand Insights

[150 Pages Report] The Non-Grain Oriented Electrical Steel Market is expected to grow at a high CAGR of 5.17% during the forecasting period (2022-2029).

Non-Grain-Oriented Electrical Steel Market Scope and Summary

Metrics

Details

Market CAGR

5.17%

Segments Covered

By Type, By Application, By End-User, and By Region

Report Insights Covered

Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other vital insights.

Fastest Growing Region

Asia Pacific

Largest Market Share 

North America

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  • Electrical Steel is specialty steel that exhibits magnetic properties. There are two major types of Electrical Steel- Grain-oriented electrical steel and Non-Grain Oriented Electrical Steel.

  • Non-Grain-oriented (NGO) electrical steel features similar magnetic properties in all directions.

Non-Grain-Oriented Electrical Steel Market Dynamics and Trends

  • Increasing consumption of Hybrid Electric Vehicles (HEVs) worldwide is one of the primary drivers of the global NGO electrical steel market. NGO electric steel is primarily used in high-speed electric motors and high-frequency transformers. It is also used in the traction motor of HEVs.

  • HEVs are a rising trend in the Automotive Industry. Global HEVs production reached 1.2 million units in 2015 and is expected to reach 5.4 million units by 2025.

  • The rise in HEV sales is mainly due to increasing environmental regulations across the world. Thus, the demand for HEVs will drive the market for NGO electrical steel.

Non-Grain-Oriented Electrical Steel Market Segmentation and Shares Analysis

  • The Global Non-Grain Oriented Electrical Steel Market segments the market by type, application, and end-user. Based on the model, the classification includes Fully Processed, Semi-Processed, and Others.

  • Further, the report divides the market by applications such as Motors, Transformers, Inductors, and Others. The end-user industry includes Automotive Industry, Power, Aviation, Domestic Appliances, and Others.

  • Semi-processed NGOs are primarily used and have a dominant market share. In semi-processed NGOs, magnetic properties are not fully developed. The magnetic properties are fully developed only after the Decarburization and Annealing of laminations. Moreover, a Semi-processed NGO is ideally suited for motors 20 HP or below.

  • Motors has the largest market in the application segment. A motor is an electrical machine that converts electrical energy into mechanical energy.

  • Non-Grain Oriented Electrical steel is used in traction motors for HEVs, electric power steering motors, high-efficiency air-conditioner compressor motors, vacuum cleaner motors, and energy-efficient induction motors.

  • The global market for electric motors is expected to be around 50 million Euros by 2030. Thus, the proliferating market for electric motors will increase the demand for NGO electrical steel in the coming years.

Non-Grain-Oriented Electrical Steel Market Geographical Share

Geographically, the Global Non-Grain Oriented Electrical Steel Market is segmented into

  • North America, South America, Asia-Pacific, Europe, and the Rest of the world. Asia-Pacific region dominates the market for Non-Grain Oriented Electrical Steel.

  • The market is expanding significantly in this region because of the demand for NGO steel in various end-user industries in countries such as China, India, and Japan. China is the leading and fastest-growing market for NGO steel because of rapid urbanization and the fast-growing market for automotive especially HEVs.

Non-Grain-Oriented Electrical Steel Companies and Competitive Analysis

  • The Global Non-Grain Oriented Electrical Steel market report profiles the following companies-ArcelorMittal S.A., Baosteel Group Corporation, Pohang Iron and Steel Company (POSCO), Nippon Steel & Sumimoto Metal Corporation(NSSMC), JFE Holdings Inc., Jiangsu Shagang Group, Tata Steel, The United States Steel Corporation (US Steel), Angang Steel Co. Ltd. and Gerdau.

  • ArcelorMittal, Baosteel, and NSSMC are critical players in the market and hold the maximum share in the market. ArcelorMittal operates in more than 60 countries, having the largest market in Europe.

  • It was the largest producer of electrical steel in the world in 2017. Baosteel Group, based in China, exports its products to more than 40 countries and is one of the largest producers of electrical steel. NSSMC provides iron for areas such as construction, automobiles, civil engineering, energy, and resources and operates in 15 countries currently.

 

Frequently Asked Questions

What is the Non-Grain Oriented Electrical Steel Market growth?

The market is growing at a CAGR of 5.17%.

What is the Non-Grain Oriented Electrical Steel Market size in 2021?

The Market size was valued at USD YY million in 2021.

Who are the key players in the Non-Grain Oriented Electrical Steel Market?

ArcelorMittal S.A., Baosteel Group Corporation, Pohang Iron and Steel Company (POSCO), Nippon Steel & Sumimoto Metal Corporation(NSSMC), JFE Holdings Inc., Jiangsu Shagang Group, Tata Steel, The United States Steel Corporation (US Steel), Angang Steel Co. Ltd. and Gerdau.

 

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