The North America grain oriented electrical steel market is a dynamic industry characterized by the demand for high-performance electrical steel products. This sector primarily serves the energy and power distribution infrastructure. Grain-oriented electrical steel is crucial for manufacturing transformers, motors, and generators, providing optimal magnetic properties for efficient energy transfer. As industries increasingly emphasize energy efficiency, the demand for grain-oriented electrical steel is expected to grow. The market's competitive landscape, influenced by economic trends and global trade, shapes the industry's trajectory in North America.
Access Full Report @ https://www.databridgemarketresearch.com/ar/reports/north-america-grain-oriented-electrical-steel-market
Data Bridge Market Research analyzes that the North America Grain Oriented Electrical Steel Market, which was USD 3,361.98 million in 2022, is expected to reach USD 5,545.68 million by 2030, and is expected to undergo a CAGR of 6.2% during the forecast period of 2023 to 2030. Government initiatives promoting energy efficiency and advanced materials in electrical systems bolster the North America grain oriented electrical steel market. Regulatory support creates a conducive environment, driving the adoption of grain-oriented electrical steel in transformers and power infrastructure, aligning with sustainability goals, and modernizing the energy sector.
Key Findings of the Study
Increasing demand for steel in motors of hybrid/electric vehicles is expected to drive the market's growth rate
The surging demand for steel in hybrid and electric vehicle motors is driven by the need for efficient energy storage and transmission. Electrical steel sheets, alloyed with silicon, enhance electrical resistance, minimize heat loss, and exhibit high magnetic properties crucial for storing substantial electrical energy. In both hybrid and electric vehicles, the properties of motors heavily depend on the use of electrical steel, optimizing core performance, reducing losses, and increasing flux density to enhance the overall efficiency of these advanced automotive systems.
Report Scope and Market Segmentation
|
Report Metric
|
Details
|
|
Forecast Period
|
2023 to 2030
|
|
Base Year
|
2022
|
|
Historic Years
|
2021 (Customizable to 2015-2020)
|
|
Quantitative Units
|
Revenue in USD Million, Volumes in Units, Pricing in USD
|
|
Segments Covered
|
Type (Domain Refined and Conventional), Thickness (0.23 MM, 0.27 MM, 0.30 MM, 0.35 MM, 0.5 MM, 0.65 MM, and Others), Form (Laminated Sheets, Wounds Sheets, and Punched Sheets), Silicone Content (Below 3% and 3% or More), Distribution Channel (Online and Offline), Application (Transformers, Power Generators, Motors, Battery, Shunt Reactors, Wound Cores, and Others), End-User (Energy and Power, Automotive, Household Appliance, Building and Construction, Aviation, and Others)
|
|
Countries Covered
|
U.S., Canada, Mexico in North America
|
|
Market Players Covered
|
AD POSCO (South Korea), JFE Steel Corporation (India), Tempel (U.S.), NLMK (Russia), Lamination Specialties (U.S.), Baosteel Group (China), ThyssenKrupp AG (Germany), Tata Steel Limited (India), ArcelorMittal S.A. (Luxembourg), Nippon Steel Corporation (Japan), Cleveland-Cliffs Inc. (U.S.), Aperam S.A. (Luxembourg), Mapes & Sprowl Steel (U.S.), and Arnold Magnetic Technologies (U.S.) among others
|
|
Data Points Covered in the Report
|
In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
|
Segment Analysis:
The North America grain oriented electrical steel market is segmented on the basis of type, thickness, form, silicone content, distribution channel, application, and end-user.
- On the basis of type, the North America grain oriented electrical steel market is segmented into domain refined and conventional. Domain refined segment is expected to dominate the North America grain oriented electrical steel market with 67.48% market share due to its low core loss at high flux density
Domain refined segment is expected to dominate the North America grain oriented electrical steel market during the forecast period of 2023 to 2030.
Domain refined segment is expected to dominate the North America grain oriented electrical steel market with 67.48% market share due to its low core loss at high flux density. However, the domain refined grain-oriented electrical steel is one of the most expensive types used in the manufacture of power transformers, which can restrict its demand in the market.
- On the basis of thickness, the North America grain oriented electrical steel market is segmented into 0.23 mm, 0.27 mm, 0.30 mm, 0.35 mm, 0.5 mm, 0.65 mm, and others. 0.23 mm segment is expected to dominate the North America grain oriented electrical steel market with a 26.14% market share because it is more used in rotating electrical machines
- On the basis of form, the North America grain oriented electrical steel market is segmented into laminated sheets, wounds sheets, and punched sheets. Laminated sheets segment is expected to dominate the North America grain oriented electrical steel market with 63.21% market share because it increases the electrical resistivity and reduces the current loss
Laminated sheets segment is expected to dominate the North America grain oriented electrical steel market during the forecast period of 2023 to 2030.
Laminated sheets segment is expected to dominate the North America grain oriented electrical steel market with a 63.21% market share because it increases the electrical resistivity and reduces the current loss. However, laminated sheets are difficult to recycle, which can restrain their demand in the market.
- On the basis of silicone content, the North America grain oriented electrical steel market is segmented into below 3% and 3% or more. 3% or more segment is expected to dominate the North America grain oriented electrical steel market with 67.76% market share because they provide better electrical resistivity which results in reduced eddy currents loss and narrow hysteresis loop
- On the basis of distribution channel, the North America grain oriented electrical steel market is segmented into online and offline. Offline segment is expected to dominate the North America non-grain oriented electrical steel market with 77.62% market share because it is considered to be a more convenient method in comparison to other channels as the bulk products can be transported easily
- On the basis of application, the North America grain oriented electrical steel market is segmented into transformers, power generators, motors, battery, shunt reactors, wound cores, and others. The transformers segment is expected to dominate the North America grain oriented electrical steel market with a 29.15% market share due to the increasing demand for electrical power consumption in the region
- On the basis of end-user, the North America grain oriented electrical steel market is segmented into energy and power, automotive, household appliance, building and construction, aviation, and others
Major Players
Data Bridge Market Research recognizes the following companies as the major North America grain oriented electrical steel market players in North America grain oriented electrical steel market are Baosteel Group (China), ThyssenKrupp AG (Germany), Tata Steel Limited (India), ArcelorMittal S.A. (Luxembourg), Nippon Steel Corporation (Japan), Cleveland-Cliffs Inc. (U.S.), Aperam S.A. (Luxembourg), Mapes & Sprowl Steel (U.S.)
Market Developments
- In January 2023, the U.S. Department of Energy (DOE) introduced proposed energy efficiency standards mandating the integration of amorphous steel cores in nearly all new distribution transformers. This move reflects a commitment to enhance efficiency, as amorphous steel demonstrates superior performance compared to traditional grain-oriented electrical steel. The proposed standards underscore the government's dedication to advancing energy-efficient technologies, signaling a shift towards sustainable practices in the power distribution sector
- In May 2021, Aperam revealed a strategic move by signing a Share Purchase Agreement with Franz Haniel & Cie. GmbH to acquire ELG, a prominent global player in stainless and alloys recycling. This acquisition positions Aperam to strengthen its market presence on a global scale. By integrating ELG's expertise in stainless and alloys recycling, Aperam aims to enhance its capabilities, expand market reach, and solidify its position as a major player in the international stainless steel and alloys recycling industry
- In March 2021, Arnold Magnetic Technologies revealed the acquisition of Ramco Electric Motors, Inc., a notable manufacturer specializing in stators, rotors, and complete electric motors. This strategic move is anticipated to broaden Arnold Magnetic Technologies' product portfolio and expand its customer base significantly. By integrating Ramco Electric Motors, the company aims to enhance its capabilities, fostering innovation and catering to a broader market, thereby strengthening its position and competitiveness in the dynamic electric motor manufacturing industry
Regional Analysis
Geographically, the countries covered in the North America grain oriented electrical steel market report are U.S., Canada, Mexico.
As per Data Bridge Market Research analysis:
The U.S. is estimated to be the fastest-growing region in North America grain oriented electrical steel market during the forecast period of 2023-2030
The U.S. is expected to dominate the North America grain oriented electrical steel market, driven by rising demand for Electric Vehicles (EVs). As the adoption of EVs gains momentum in the country, the automotive industry is witnessing a surge in demand for components such as electrical steel used in EV motors. This growth aligns with the nation's commitment to sustainable transportation, emphasizing the dominance of the U.S. in the evolving landscape of electric mobility and its associated supply chain, including essential materials such as electrical steel.
For more detailed information about the North America grain oriented electrical steel market report, click here – https://www.databridgemarketresearch.com/ar/reports/north-america-grain-oriented-electrical-steel-market
