North America Grain Oriented Electrical Steel Market, By Type (Domain Refined, High Magnetic Strength, 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 Reactor, Wound Cores, and Others), End-User (Energy and Power, Automotive, Household Appliances, Building and Construction, Aviation, and Others) - Industry Trends and Forecast to 2031.
North America Grain Oriented Electrical Steel Market Analysis and Size
Grain oriented electrical steel market witnesses continuous advancement, enhancing efficiency in electrical applications. Its unique magnetic properties offer benefits like reduced energy loss, improved transformer performance, and increased power density. This steel's evolution caters to growing demands for sustainable energy solutions, making it pivotal in modern electrical infrastructure.
North America grain oriented electrical steel market size was valued at USD 3.57 billion in 2023, is expected to reach USD 5.77 billion by 2031, growing at a CAGR of 6.2% during the forecast period of 2024 to 2031. 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.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2024 to 2031
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Base Year
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2023
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Historic Years
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2022 (Customizable to 2016 - 2021)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Type (Domain Refined, High Magnetic Strength, 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 Reactor, Wound Cores, and Others), End-User (Energy and Power, Automotive, Household Appliances, Building and Construction, Aviation, and Others)
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Countries Covered
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U.S., Canada, and Mexico
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Market Players Covered
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POSCO (South Korea), JFE Steel Corporation. (Japan), Tempel (U.S.), NLMK (Russia), UPG Enterprises LLC (U.S.), Baosteel Group (China), ThyssenKrupp AG (Germany), Tata Steel (India), ArcelorMittal (Luxembourg), NIPPON STEEL CORPORATION (Japan), Cleveland-Cliffs Inc. (U.S.), Aperam S.A. (Luxembourg), Mapes & Sprowl (U.S.), and Arnold Magnetic Technologies (U.S.)
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Market Opportunities
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Market Definition
Grain-oriented electrical steel, tailored for transformers and electric motors, boasts magnetic properties crucial for efficient energy conversion. Its grains align unidirectionally, optimizing the conversion of electrical to magnetic energy. This alignment curtails energy loss, elevating performance in power transmission. This steel variety ensures robustness and effectiveness for modern systems, playing a pivotal role in enhancing energy transmission and utilization efficiency.
North America Grain Oriented Electrical Steel Market Dynamics
Drivers
- Growing Demand for Energy-Efficient Transformers
The surge in global electricity demand due to urbanization and industrialization is fueling the need for energy-efficient transformers. These transformers rely on grain-oriented electrical steel for minimal energy loss during transmission and distribution. This demand for energy-efficient transformers is consequently boosting the market for grain-oriented electrical steel. For instance, in emerging economies such as India and China, rapid industrial growth amplifies the requirement for such transformers, propelling market growth.
- Growing Renewable Energy Integration
Grain-oriented electrical steel is crucial for transformer steel construction in renewable energy infrastructure. Its magnetic properties enable efficient energy transfer, facilitating the integration of wind and solar power into the grid. This demand arises from the necessity for effective power transmission amid the global shift towards sustainable energy sources.
Opportunities
- Electrification of Transportation
Grain-oriented electrical steel is pivotal in crafting transformers and charging infrastructure for electric vehicles (EVs). Its high magnetic permeability ensures efficient electricity transmission, which is critical for power distribution networks supporting EV charging stations. This steel's role in enhancing reliability and energy efficiency underscores its significance in scaling the EV ecosystem. For instance, in deploying fast-charging stations, robust transformers made from grain-oriented electrical steel facilitate rapid and reliable power delivery, driving EV adoption.
- Increasing Focus on Sustainability
Growing environmental concerns and carbon emission reduction efforts drive demand for energy-efficient technologies. Grain-oriented electrical steel meets sustainability goals by enabling the construction of efficient transformers and electrical equipment. Its surge in demand reflects industries' prioritization of eco-friendly solutions to fulfill energy requirements.
Restraints/Challenges
- High Cost of Raw Material
The production costs of grain-oriented electrical steel are heavily influenced by the unpredictable prices of essential raw materials such as iron ore and coal. Fluctuations in these inputs disrupt manufacturing budgets, leading to higher expenses and potentially reduced profitability for producers. Managing this cost volatility is crucial for maintaining competitiveness in the market.
- Safety and Technological Constraints
Manufacturers of electrical steel prioritize safety protocols to mitigate accidents. Mastery of the material's magnetic properties is vital for current control. Strict safety measures ensure production quality and prevent casualties. Proficiency in handling minimizes risks, safeguarding against accidents when utilizing electrical steel in diverse applications.
This market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays
Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions. Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.
Expected Impact of Economic Slowdown on the Pricing and Availability of Products
When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.
Recent Development
- In January 2023, The U.S. Department of Energy proposed energy efficiency standards, mandating amorphous steel cores in new distribution transformers. This emphasizes amorphous steel's superiority, signaling a transformative step in the grain-oriented electrical steel market toward enhanced efficiency
- In May 2021, Aperam's strategic acquisition of ELG from Franz Haniel & Cie. GmbH showcased a significant development in the grain-oriented electrical steel market. This fortifies Aperam's global presence, leveraging ELG's expertise in stainless and alloy recycling to bolster market position and competitiveness
- In March 2021, Arnold Magnetic Technologies' acquisition of Ramco Electric Motors, Inc. illuminates a strategic shift within the used cooking oil market. This integration extends product diversity, widens consumer reach, and nurtures innovation, positioning Arnold Magnetic Technologies as a dominant player in used cooking oil recycling
North America Grain Oriented Electrical Steel Market Scope
The market is segmented on the basis of type, thickness, form, silicone content, distribution channel, application, and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
- Domain Refined
- High Magnetic Strength
- Conventional
Thickness
- 0.23 MM
- 0.27 MM
- 0.30 MM
- 0.35 MM
- 0.5 MM
- 0.65 MM
- Others
Form
- Laminated Sheets
- Wounds Sheets
- Punched Sheets
Silicone Content
- Below 3%
- 3% or More
Distribution Channel
- Online
- Offline
Application
- Transformers
- Power Generators
- Motors
- Battery
- Shunt Reactor
- Wound Cores
- Others
End-User
- Energy and Power
- Automotive
- Household Appliances
- Building and Construction
- Aviation
- Others
North America Grain Oriented Electrical Steel Market Regional Analysis/Insights
The market is analyzed and market size insights and trends are provided by type, thickness, form, silicone content, distribution channel, application, and end-user as referenced above.
The countries covered in the market report are U.S., Canada, and Mexico.
The U.S. is expected to dominate the market, driven by the rising demand for electric vehicles (EVs). This highlights the crucial role of electrical steel in bolstering sustainable transportation infrastructure.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and North America Grain Oriented Electrical Steel Market Share Analysis
The market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to market.
Some of the major players operating in the market are:
- POSCO (South Korea)
- JFE Steel Corporation. (Japan)
- Tempel (U.S.)
- NLMK (Russia)
- UPG Enterprises LLC (U.S.)
- Baosteel Group (China)
- ThyssenKrupp AG (Germany)
- Tata Steel (India)
- ArcelorMittal (Luxembourg)
- NIPPON STEEL CORPORATION (Japan)
- Cleveland-Cliffs Inc. (U.S.)
- Aperam S.A. (Luxembourg)
- Mapes & Sprowl (U.S.)
- Arnold Magnetic Technologies (U.S.)
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