To know the impact of COVID-19 On Grain Oriented Electrical Steel Market Size, Share, Companies & Trends Analysis Report By Product Type (Grain-oriented, Non-grain oriented), By Application Type (Transformers, Motors, Inductors) Based On Region And Segment Forecasts, 2022 - 2028 Market
Market Size Forecast Scenarios (Optimistic, Baseline and Pessimistic) 2021-2027
The Global Grain Oriented Electrical Steel Market is valued at USD 6352.7 Million in 2021 and is expected to reach USD 8293.4 Million by 2028 with a CAGR of 2.1% over the forecast period.
Grain Oriented Electrical Steel Market applies the most effective of each primary and secondary analysis to weighs upon the competitive landscape and also the outstanding market players expected to dominate Grain Oriented Electrical Steel Market place for the forecast 2022– 2028.
The product has the ability to offer low core loss and high permeability for electrical transformers and is defined as an alloy of iron-silicone. It is widely utilized as the core of power transformers and is believed as the most energy-efficient steel. Hence, the product is also dubbed as transformer steel all over the world.
Scope of The Grain Oriented Electrical Steel Market Report:
Grain-oriented electrical steels are magnetic iron-silicon alloys. These alloys are employed to make the cores of electric highly-efficient transformers owing to their unique magnetic features. Accessible in grades M-2, M-3, M-4, M-5, and M-6, with better magnetic features in the rolling direction, oriented steels are employed in transformer cores. They are employed in huge generators and other apparatus when the design allows the directional magnetic features to be employed powerfully. Grain-oriented electrical steel normally has 3% of silicon level. It is processed in such a manner that the optimal features are designed in the rolling direction, owing to the crystal orientation’s tight control relative to the sheet. Grain-oriented electrical steels are normally used in rectifiers, transformers, and so on.
By type, market is segment into HiB high permeability grain oriented electrical steel and CRGO steel. Over the years to come, the HiB section is expected to clock significant development due to increasing aim on energy efficiency. HiB high permeability GOES provide drop in core losses. Increased requirement for GOES for maintenance and replacement, particularly in Europe and the US, is claimed to add to the development of the section during the coming period. Cold-rolled grain-oriented (CRGO) sheet steel showed a huge share in the market.
Grain Oriented Electrical Steel Manufacturers
The major players included in the global grain-oriented electrical steel market forecast are,
- Nippon Steel & Sumitomo Metal Corporation
- Baosteel Co. Ltd.
- AK Steel Corporation
Grain Oriented Electrical Steel Market Key Segments:
By Product Type:
- Non-grain oriented
By Application Type:
- Other applications
The Global Grain Oriented Electrical Steel Market Is Predicted To Observe Steady Development Over The Years To Come
The global grain-oriented electrical steel market is predicted to observe steady development over the years to come. Favorable regulatory policies are having a major role in the development of the market. Utility regulators have been aiming on ways to power reduce losses and energy efficiency in transformers. Reduction in carbon dioxide emission, rising focus on energy conservation, and life-cycle costing is predicted to power the development of the market over the years to come.
The product has the ability to offer low core loss and high permeability for electrical transformers and is defined as an alloy of iron-silicone. It is widely utilized as the core of power transformers and is believed as the most energy-efficient steel. Hence, the product is also dubbed as transformer steel all over the world. The growing requirement for electricity is predicted to positively affect the market. Growing population and rapid urbanization in these nations are poised to power the requirement for expansion in transmission capacities.
Asia Pacific Is Predicted To Add Up For A Major Share In Terms Of Value As Well As Volume In The Market
Regionally, the grain-oriented electrical steel market can be divided into Asia Pacific, Europe, Central & South America, North America, and Middle East & Africa. The Asia Pacific is predicted to add up for a major share in terms of value as well as volume in the market. Countries such as China and India are predicted to be significant contributors in the region. Total power capacity in India elevated by almost 77 gigawatts (GW) recently.
On Special Requirement Grain Oriented Electrical Steel Market Report is also available for the below Regions and Country:
- Rest of Europe
- South Korea
- Rest Of APAC
- Rest of South America
Middle East and Africa
- Saudi Arabia
- South Africa
- Rest Of MEA
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Grain Oriented Electrical Steel Market Size, Share, Growth, Trends And Industry Analysis By 2028
Grain Oriented Electrical Steel Market Size, Share, Companies & Trends Analysis Report By Product Type (Grain-oriented, Non-grain oriented), By Application Type (Transformers, Motors, Inductors) Based On Region And Segment Forecasts, 2022 - 2028
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