The Non-Grain Oriented Electrical Steel Global Market Report 2023, provides comprehensive information on the non-grain oriented electrical steel market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
Learn More On The Non-Grain Oriented Electrical Steel Market’s Growth:
The global non-grain oriented electrical steel market size is expected to grow from $13.58 billion in 2022 to $14.32 billion in 2023 at a compound annual growth rate (CAGR) of 5.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The size of non-grain oriented electrical steel market is expected to reach $16.96 billion in 2027 at a CAGR of 4.3%.
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Product innovation is the major trend gaining momentum in the non-grain-oriented electrical steel market. Major companies operating in the non-grain-oriented electrical steel market are focused on developing innovative products to strengthen their position in the market. For instance, in December 2022, Cleveland-Cliffs Inc., a US-based mining and manufacturing company of electrical steel, iron ore, and other ferroalloys, launched MOTOR-MAX. This product is a high-frequency non-oriented electrical steel (HF NOES) that can enhance the engine’s ultimate performance and efficiency developed for high-speed engines, electric vehicle (EV) propulsion motors, aviation generators, and other rotating machinery.
The non-grain oriented electrical steel market is segmented:
1) By Product: Fully Processed, Semi-processed
2) By Thickness: 0.35 mm, 0.5 mm, 0.65 mm, Other Thickness
3) By Application: Inductors, Transformers, Motors, Other Applications
4) By End User: Automotive Industry, Aviation, Power, Domestic Appliances, Other End Users
Asia Pacific was the largest region in the non-grain oriented electrical steel market in 2022.
The table of contents in TBRC’s non-grain oriented electrical steel market report includes:
- Executive Summary
- Non-Grain Oriented Electrical Steel Market Characteristics
- Non-Grain Oriented Electrical Steel Market Trends And Strategies
- Non-Grain Oriented Electrical Steel Market – Macro Economic Scenario
- Non-Grain Oriented Electrical Steel Market Segmentation
- Global Non-Grain Oriented Electrical Steel Market Competitive Benchmarking
- Global Non-Grain Oriented Electrical Steel Market Competitive Dashboard
- Key Mergers And Acquisitions In The Non-Grain Oriented Electrical Steel Market
- Non-Grain Oriented Electrical Steel Market Future Outlook and Potential Analysis
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The Business Research Company is a market intelligence firm that pioneers in market, company, and consumer research. TBRC’s specialist consultants are located globally and are experts in a wide range of industries that include healthcare, manufacturing, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries. Through the report businesses can gain a thorough understanding of the market’s size, growth rate, major drivers and leading players.
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