Non Grain-Oriented Electrical Steel Market Analysis and Forecast (2025-2031)

The Non Grain-Oriented Electrical Steel (NGOES) market plays a pivotal role in the global electrical and energy sectors. Valued at $15,541.8 million in 2023, the market is projected to reach $17,405.1 million by 2030, growing at a modest CAGR of 1.75% from 2024 to 2030. This report delves into the market dynamics, technological advancements, key players, and regional trends shaping the future of NGOES.

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Market Dynamics

Key Trends and Drivers

1. Electrification of Industries: The rising adoption of renewable energy and the growth of electrified transportation systems are fueling demand for NGOES in motors, transformers, and generators.
2. Technological Advancements: Advances in material science have led to improved performance in electrical steel, enhancing energy efficiency and reducing losses in electrical devices.
3. Sustainability Initiatives: Governments worldwide are promoting energy-efficient appliances and equipment, indirectly boosting demand for NGOES.

Challenges

• Declining Growth in North America: The North American market is forecasted to witness a slight decline, with a negative CAGR of -0.61% between 2024 and 2030. This is attributed to market saturation and a slowdown in industrial investments.
• Raw Material Price Volatility: Fluctuations in the cost of raw materials like silicon and iron pose challenges to manufacturers, impacting profit margins.

Regional Analysis

Asia-Pacific

Asia-Pacific dominates the global NGOES market due to:

• The presence of leading manufacturing hubs in China, Japan, and India.
• Rapid industrialization and urbanization driving demand for electrical equipment.

Europe

Europe’s market growth is supported by:

• Strong renewable energy policies.
• Investments in energy-efficient technologies and grid modernization.

North America

Despite a decline, North America remains a key market, driven by:

• Demand for high-quality electrical steel in specialized applications.
• Focus on reducing energy consumption in the industrial and residential sectors.

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.

Market Segmentation

By Type

1. Fully Processed NGOES: Preferred for high-performance electrical applications due to superior magnetic properties.
2. Semi-Processed NGOES: Cost-effective, widely used in lower-efficiency applications.

By Application

1. Motors: A significant application area, as NGOES is crucial in manufacturing energy-efficient motors.
2. Transformers: Increasing grid expansion and modernization drive demand for transformer-grade NGOES.
3. Generators: Renewable energy projects heavily rely on generators requiring NGOES for optimal performance.

Future Outlook and Opportunities

Growth Opportunities

• Renewable Energy Integration: Increasing adoption of wind and solar power systems will drive demand for NGOES in generators and transformers.
• Smart Grids: Investments in smart grid infrastructure will bolster the need for high-quality electrical steel.

Challenges to Address

• Developing cost-effective production methods to counter raw material price fluctuations.
• Enhancing product availability in emerging markets to tap into new revenue streams.

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