Non Grain Oriented Electrical Steel Market

Recently, there has been a preference for grain-oriented electrical steel in high-power applications where low core losses are important. On the other hand, the market is also observing progress in manufacturing technologies such as laser cutting and rapid prototyping, which enable faster and more cost-effective production of NGOES. Additionally, with new applications in electric vehicles and power electronics it has further expanded the market for NGOES. 

The Global Non-Grain-Oriented Electrical Steel Market Industry is projected to experience substantial growth over the coming years. In 2024, the market is estimated to reach 10.7 USD Billion, with expectations of further expansion to 15.0 USD Billion by 2035. This growth trajectory suggests a compound annual growth rate of 3.14% from 2025 to 2035, indicating a robust demand for non-grain-oriented electrical steel across various applications. The increasing focus on energy efficiency, technological advancements, and the expansion of renewable energy sources are likely to drive this growth.

The Global Non-Grain-Oriented Electrical Steel Market Industry experiences a surge in demand driven by the increasing focus on energy efficiency across various sectors. As industries strive to reduce energy consumption, the utilization of non-grain-oriented electrical steel in transformers and electric motors becomes more prevalent. This material's superior magnetic properties contribute to lower energy losses, aligning with global sustainability goals. In 2024, the market is projected to reach 10.7 USD Billion, reflecting the growing emphasis on energy-efficient technologies. This trend is likely to continue, as the industry anticipates a compound annual growth rate of 3.14% from 2025 to 2035.

The expansion of renewable energy sources plays a crucial role in shaping the Global Non-Grain-Oriented Electrical Steel Market Industry. As countries worldwide transition towards greener energy solutions, the demand for efficient transformers and generators increases. Non-grain-oriented electrical steel is essential in these applications due to its ability to minimize energy losses. This trend aligns with global efforts to combat climate change and reduce carbon emissions. The market's growth trajectory appears promising, with expectations of reaching 10.7 USD Billion in 2024, driven by the rising adoption of renewable energy technologies.

Government regulations and incentives aimed at promoting energy efficiency and sustainability significantly influence the Global Non-Grain-Oriented Electrical Steel Market Industry. Many governments are implementing policies that encourage the use of energy-efficient materials in electrical applications, thereby driving demand for non-grain-oriented electrical steel. These regulations often include financial incentives for manufacturers who adopt sustainable practices. As a result, the market is poised for growth, with projections indicating a value of 15.0 USD Billion by 2035. Such regulatory frameworks are likely to foster innovation and investment within the industry.

The growth in electric vehicle production significantly impacts the Global Non-Grain-Oriented Electrical Steel Market Industry. As the automotive sector shifts towards electrification, the demand for efficient electric motors and transformers rises. Non-grain-oriented electrical steel is integral to these components, providing enhanced performance and energy efficiency. This shift is indicative of broader trends in transportation and energy consumption, suggesting a robust market outlook. The industry anticipates a compound annual growth rate of 3.14% from 2025 to 2035, reflecting the increasing integration of non-grain-oriented electrical steel in electric vehicles.

Technological advancements in the manufacturing processes of non-grain-oriented electrical steel significantly influence the Global Non-Grain-Oriented Electrical Steel Market Industry. Innovations such as improved casting and rolling techniques enhance the material's magnetic properties, leading to better performance in electrical applications. These advancements not only improve efficiency but also reduce production costs, making non-grain-oriented electrical steel more accessible to manufacturers. As a result, the market is expected to grow, with projections indicating a rise to 15.0 USD Billion by 2035. This growth underscores the importance of continuous innovation in maintaining competitiveness within the industry.

The Non-Grain Oriented Electrical Steel Market is segmented into North America, Europe, APAC, South America, and MEA. Europe is expected to be the second largest market, followed by APAC. The growth in the North American market is attributed to the increasing demand for energy-efficient appliances and the growing construction industry. The European market is expected to be driven by the increasing demand for electric vehicles and the growing renewable energy sector.

The APAC market is expected to be driven by the increasing demand for consumer electronics and the growing infrastructure development.The South American and MEA markets are expected to grow at a slower pace due to the economic challenges and political instability in these regions.

Source: Primary Research, Secondary Research, Market Research Future Database and Analyst Review

Major players in the Non-Grain Oriented Electrical Steel Market industry are focusing on expanding their production capacities to meet the growing demand for Non-Grain Oriented Electrical Steel. Leading Non-Grain Oriented Electrical Steel Market players are also investing in research and development to improve the efficiency and performance of their products. The Non-Grain Oriented Electrical Steel Market is expected to witness significant growth in the coming years, driven by the increasing demand from the automotive and power generation industries.

The competitive landscape of the Non-Grain Oriented Electrical Steel Market is characterized by the presence of a few large players and several small and medium-sized companies. The Non-Grain Oriented Electrical Steel Market is expected to witness a number of mergers and acquisitions in the coming years as companies seek to consolidate their market share and expand their geographic reach.A major competitor in the non-grain-oriented electrical steel market industry is Nippon Steel Corporation. The company is headquartered in Japan and has a presence.

Nippon Steel Corporation is a leading producer of non-grain-oriented electrical steel and has a wide range of products that meet the needs of its customers. The company is focused on providing high-quality products and services to its customers and has a strong commitment to research and development.Another major competitor in the non-grain-oriented electrical steel market is POSCO. The company is headquartered in South Korea and has a presence. POSCO is a leading producer of non-grain-oriented electrical steel and has a wide range of products that meet the needs of its customers.

The company is focused on providing high-quality products and services to its customers and has a strong commitment to research and development.