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Grain Oriented Electrical Steel Market by Product Type (Conventional, High Magnetic Strength Sheets, and Domain Refinement), by Thickness (0.2 mm and Below, 0.23 mm, 0.27 mm, 0.30 mm, and 0.35 mm and Above), by Application (Transformer, Power Generator, Electric Motor, and Others), by North America (United States, Canada, Mexico), by Europe (Germany, France, Italy, United Kingdom, Spain, Nordics, Benelux, Rest of Europe), by Middle East & Africa (UAE, South Africa, Saudi Arabia, Rest of Middle East Africa), by Asia Pacific (China, Japan, India, South Korea, Taiwan, South East Asia, Australia, Rest of Asia-Pacific), by Latin America (Brazil, Argentina, Rest of South America) Forecast 2024-2032
The Grain Oriented Electrical Steel Marketsize was valued at USD 11.78 USD Billion in 2023 and is projected to reach USD 42.70 USD Billion by 2032, exhibiting a CAGR of 20.2 % during the forecast period. Grain Oriented Electrical Steel (GOES) is a variety of electrical steel having improved magnetic characteristics along the direction of rolling. it has been designed to possess low core loss and high magnetic permeability and is mainly applied in transformers and large electrical machines. GOES is available in two primary types: giving rise to two different types of grain-oriented electrical steels, namely, the conventional grain-oriented (CGO) and the high permeability grain-oriented (HGO). CGO presents more adequate performance than HGO, but the latter offers gross magnetic features mainly in high-efficiency transformers. Some of the features are the grain structure of GOES that offers less energy loss during magnetization and demagnetization, and high silicon content which increases the electrical resistivity of the steel. Its uses are largely confined to power transformers, distribution transformers, and reactors required for energy transmission.
By Product Type:
By Thickness:
By Application:
Aspects | Details |
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Study Period | 2018-2032 |
Base Year | 2023 |
Estimated Year | 2024 |
Forecast Period | 2024-2032 |
Historical Period | 2018-2023 |
Growth Rate | CAGR of 20.2% from 2018-2032 |
Segmentation |
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Aspects | Details |
---|---|
Study Period | 2018-2032 |
Base Year | 2023 |
Estimated Year | 2024 |
Forecast Period | 2024-2032 |
Historical Period | 2018-2023 |
Growth Rate | CAGR of 20.2% from 2018-2032 |
Segmentation |
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Note* : In applicable scenarios
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