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North America market for Non Grain-oriented Electrical Steel is estimated to increase from $ 839.1 million in 2023 to reach $ 742.6 million by 2030, at a CAGR of -0.61% during the forecast period of 2024 through 2030.

Asia-Pacific market for Non Grain-oriented Electrical Steel is estimated to increase from $ 11,797.2 million in 2023 to reach $ 14,021.5 million by 2030, at a CAGR of 2.31% during the forecast period of 2024 through 2030.

Europe market for Non Grain-oriented Electrical Steel is estimated to increase from $ 2,435.6 million in 2023 to reach $ 2,181.2 million by 2030, at a CAGR of -0.52% during the forecast period of 2024 through 2030.

The major global manufacturers of Non Grain-oriented Electrical Steel include Baowu, Nippon Steel, Shougang, Ansteel, TISCO, JFE Steel, Xin Steel, ThyssenKrupp, CSC and Voestalpine, etc. In 2023, the world's top three vendors accounted for approximately 51.71% of the revenue.

This report aims to provide a comprehensive presentation of the global market for Non Grain-oriented Electrical Steel, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Non Grain-oriented Electrical Steel.

The Non Grain-oriented Electrical Steel market size, estimations, and forecasts are provided in terms of sales volume (K MT) and revenue ($ millions), considering 2023 as the base year, with history and forecast data for the period from 2019 to 2030. This report segments the global Non Grain-oriented Electrical Steel market comprehensively. Regional market sizes, concerning products by Type, by Application, and by players, are also provided.

For a more in-depth understanding of the market, the report provides profiles of the competitive landscape, key competitors, and their respective market ranks. The report also discusses technological trends and new product developments.

The report will help the Non Grain-oriented Electrical Steel manufacturers, new entrants, and industry chain related companies in this market with information on the revenues, sales volume, and average price for the overall market and the sub-segments across the different segments, by company, by Type, by Application, and by regions.

Market Segmentation By Company

• Baowu

• Nippon Steel

• Shougang Group

• Ansteel

• TISCO

• JFE Steel

• Xin Steel

• ThyssenKrupp

• CSC

• Voestalpine

• Posco

• AK Steel (Cleveland-Cliffs)

• NLMK

• ArcelorMittal

Segment by Type

• Medium and Low grade

• High Grade

Segment by Application

• Motor

• Home Appliance

• Power Generator

• Automotive

• Others

By Region

• North America (United States, Canada, Mexico)

• Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe)

• Asia-Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)

• The Middle East and Africa (Middle East, Africa)

• South and Central America (Brazil, Argentina, Rest of SCA)

Drivers:

1. Growing Demand for Electric Vehicles (EVs):
   The transition to electric mobility has significantly boosted the demand for non-grain-oriented electrical steel, which is widely used in electric motor cores for EVs. The global push for reducing carbon emissions and increasing EV adoption accelerates this trend.

2. Rising Investments in Renewable Energy:
   The expansion of renewable energy projects, especially wind turbines and solar inverters, has driven the demand for non-grain-oriented electrical steel. Its high magnetic permeability and efficiency in alternating current (AC) systems make it ideal for energy applications.

3. Industrialization and Urbanization:
   Rapid industrialization in developing economies has increased the deployment of motors, transformers, and generators, where non-grain-oriented electrical steel plays a critical role. Urbanization has also led to increased demand for home appliances that utilize this steel.

4. Energy Efficiency Regulations:
   Stringent regulations emphasizing energy efficiency in industrial and commercial applications have propelled the adoption of non-grain-oriented electrical steel. This material helps reduce energy losses, meeting regulatory standards.

5. Technological Advancements in Steel Manufacturing:
   Advances in manufacturing techniques, such as improved annealing processes and coating technologies, have enhanced the performance of non-grain-oriented electrical steel, further driving its adoption.

Restraints:

1. Volatility in Raw Material Prices:
   The cost of raw materials, including iron ore and alloying elements like silicon, can fluctuate significantly, affecting the production costs and pricing of non-grain-oriented electrical steel.

2. High Initial Costs of Production:
   The complex manufacturing process and the need for specialized equipment increase production costs, limiting adoption in price-sensitive markets or small-scale applications.

3. Competition from Alternative Materials:
   The emergence of alternative materials, such as advanced composites and amorphous metals, poses a challenge to the widespread use of non-grain-oriented electrical steel in certain applications.

4. Environmental Concerns in Production:
   The energy-intensive production process of non-grain-oriented electrical steel raises environmental concerns, with industries under pressure to reduce carbon emissions and adopt greener processes.

Opportunities:

1. Expanding EV and Hybrid Market:
   The growth of the EV and hybrid vehicle market presents a lucrative opportunity for non-grain-oriented electrical steel manufacturers, given the rising need for efficient electric motor cores.

2. Focus on Smart Grids and Energy Storage Systems:
   The integration of smart grids and energy storage systems is driving demand for efficient transformers and electric motors, which rely on non-grain-oriented electrical steel.

3. Advancements in Green Steel Production:
   The development of eco-friendly and sustainable production methods, such as hydrogen-based steel manufacturing, offers opportunities for reducing the environmental footprint of non-grain-oriented electrical steel.

4. Increasing Adoption in Consumer Electronics:
   The growing demand for advanced consumer electronics, including air conditioners, washing machines, and refrigerators, is creating opportunities for non-grain-oriented electrical steel in compact and efficient motor designs.

5. Emerging Markets:
   Rapid industrialization and infrastructure development in regions like Asia-Pacific, the Middle East, and Africa are fueling demand for electrical steel across various end-use sectors.

Challenges:

1. Technological Barriers in Production:
   The manufacturing process of non-grain-oriented electrical steel is complex, requiring precision and specialized technology, which can be a barrier for new market entrants.

2. Supply Chain Disruptions:
   Geopolitical tensions, trade restrictions, and the COVID-19 pandemic have highlighted vulnerabilities in the supply chain for raw materials and finished products, impacting market growth.

3. Intense Market Competition:
   The presence of established players and regional manufacturers has led to price competition, making it challenging for smaller companies to compete while maintaining profitability.

4. Recycling and End-of-Life Management:
   Managing the recycling and disposal of electrical steel at the end of its lifecycle poses environmental and logistical challenges, potentially influencing adoption rates.

FAQs on Non Grain-oriented Electrical Steel Market 1. What is the current value of the global Non Grain-oriented Electrical Steel market?

The global Non Grain-oriented Electrical Steel market was valued at US$ 15,541.8 million in 2023.

2. What is the projected size of the global Non Grain-oriented Electrical Steel market by 2030?

The market is anticipated to reach US$ 17,405.1 million by 2030, growing at a CAGR of 1.75% during the forecast period, 2024–2030.

3. How is the North American market for Non Grain-oriented Electrical Steel expected to perform?

The North American market is projected to decline from US$ 839.1 million in 2023 to US$ 742.6 million by 2030, registering a negative CAGR of -0.61% from 2024 to 2030.

4. What factors are driving the global Non Grain-oriented Electrical Steel market?

Key drivers include:

• Growing demand for electric vehicles (EVs) and renewable energy systems.

• Increasing investments in energy-efficient electrical devices.

• Rising consumption in industries like power generation and household appliances.

5. What challenges are faced by the Non Grain-oriented Electrical Steel market?

• Declining demand in certain regions like North America due to market saturation or regional competition.

• High production costs and volatility in raw material prices.

• Environmental concerns regarding steel production processes.

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