Electrical steels are distinguished by their excellent electro-magnetic properties. There are two major types of fully processed electrical steels: grain-oriented (GO) and non-oriented (NO). Non-oriented electrical steel features homogeneous magnetic properties in all directions. They are widely used as iron core materials in rotating machines ranging from large power generators to tiny precision electric motors. They are also used in the iron core of small power transformers.
Due to the COVID-19 pandemic, the global NGO Electrical Steel market size is estimated to be worth US$ 14180 million in 2022 and is forecast to a readjusted size of US$ 18350 million by 2028 with a CAGR of 4.4% during the forecast period 2022-2028. Fully considering the economic change by this health crisis, Semi-processed accounting for % of the NGO Electrical Steel global market in 2021, is projected to value US$ million by 2028, growing at a revised % CAGR from 2022 to 2028. While Motor segment is altered to an % CAGR throughout this forecast period.
The major players in global NGO Electrical Steel market include Baowu, Shougang Group, TISCO, etc. The top 3 players occupy about 40% shares of the global market. APAC is the main market, and occupies about 75% of the global market. Semi-processed is the main type, with a share about 85%. Motor is the main application, which holds a share about 45%.
The research report has incorporated the analysis of different factors that augment the market’s growth. It constitutes trends, restraints, and drivers that transform the market in either a positive or negative manner. This section also provides the scope of different segments and applications that can potentially influence the market in the future. The detailed information is based on current trends and historic milestones. This section also provides an analysis of the volume of production about the global market and about each type from 2017 to 2028. This section mentions the volume of production by region from 2017 to 2028. Pricing analysis is included in the report according to each type from the year 2017 to 2028, manufacturer from 2017 to 2022, region from 2017 to 2022, and global price from 2017 to 2028.
A thorough evaluation of the restrains included in the report portrays the contrast to drivers and gives room for strategic planning. Factors that overshadow the market growth are pivotal as they can be understood to devise different bends for getting hold of the lucrative opportunities that are present in the ever-growing market. Additionally, insights into market expert’s opinions have been taken to understand the market better.
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The research report includes specific segments by region (country), by manufacturers, by Type and by Application. Each type provides information about the production during the forecast period of 2017 to 2028. by Application segment also provides consumption during the forecast period of 2017 to 2028. Understanding the segments helps in identifying the importance of different factors that aid the market growth.
Segment by Type
- Fully Processed
Segment by Application
- Home Appliances
- Power Generator
- Shougang Group
- Nippon Steel
- Jfe Steel
- Thyssen Krupp
- Ak Steel
- Bx Steel
Production by Region
- North America
Consumption by Region
- North America (United States, Canada)
- Europe (Germany, France, U.K., Italy, Russia)
- Asia-Pacific (China, Japan, South Korea, India, Australia, China Taiwan, Indonesia, Thailand, Malaysia)
- Latin America (Mexico, Brazil, Argentina)
- Middle East & Africa (Turkey, Saudi Arabia, UAE)
Mr. Shirish Gupta
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