1. What is the projected Compound Annual Growth Rate (CAGR) of the Non-Grain Oriented Electrical Steel Market?
The projected CAGR is approximately 5.1%.
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Non-Grain Oriented Electrical Steel Market by Thickness (0.35 mm, 0.5 mm, 0.65 mm, Others), by Type (Semi-processed, Fully Processed), by Application (Household Appliances, AC Motor, Power Generation, Others), by By Geography (North America), by Europe (Germany, U.K., France, Italy, Spain, Russia, Rest of Europe), by Asia Pacific (China, Japan, South Korea, Australia, Thailand, Rest of Asia Pacific), by Latin America (Brazil, Argentina, Chile, Rest of Latin America), by Middle East & Africa (South Africa, Egypt, UAE, Saudi Arabia, Rest of MEA) Forecast 2025-2033
The Non-Grain Oriented Electrical Steel Marketsize was valued at USD 17.50 USD Billion in 2023 and is projected to reach USD 24.79 USD Billion by 2032, exhibiting a CAGR of 5.1 % during the forecast period. Various reasons are driving the Non-Grain Oriented Electrical Steel Market to strong growth. Energy efficiency and sustainability have become key considerations for many industries which has led to an increased need for electrical steels used in power generation, transmission, and distribution. Particularly versatile across various applications due to its outstanding magnetic properties, non-grain-oriented electrical steel is increasingly gaining popularity. In motor production, transformer manufacturing, and generator construction where it is necessary to reduce energy waste, these types of steel cannot be done without. The expanding renewable sector mainly propelled by wind power as well solar energy systems also contributes greatly towards this demand while the automotive industry’s shift towards electric vehicles has significantly fueled market growth since electric steels are required for making motors among other components used in them. With continuous technological improvements and strict regulations on saving power, the Non-Grain Electrical Steel Market will expand further in the coming years.


By Thickness:
By Type:
By Application:
By Geography:
| Aspects | Details |
|---|---|
| Study Period | 2019-2033 |
| Base Year | 2024 |
| Estimated Year | 2025 |
| Forecast Period | 2025-2033 |
| Historical Period | 2019-2024 |
| Growth Rate | CAGR of 5.1% from 2019-2033 |
| Segmentation |
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Note*: In applicable scenarios
Primary Research
Secondary Research

Involves using different sources of information in order to increase the validity of a study
These sources are likely to be stakeholders in a program - participants, other researchers, program staff, other community members, and so on.
Then we put all data in single framework & apply various statistical tools to find out the dynamic on the market.
During the analysis stage, feedback from the stakeholder groups would be compared to determine areas of agreement as well as areas of divergence
The projected CAGR is approximately 5.1%.
Key companies in the market include Benxi Steel Group Co., Ltd (China), CSC Steel Sdn. Bhd. (Malaysia), Tata Steel (India), Nucor Corporation (U.S.), NLMK (Russia), ArcelorMittal S.A. (Luxembourg), Shougang Group (China), thyssenkrupp Steel (Germany), Baosteel Group Corporation (China), POSCO (South Korea), NIPPON STEEL CORPORATION (Japan), Voestalpine Group (Austria), Yieh Corporation (Taiwan), Aperam S.A. (Luxembourg), Arnold Magnetic Technologies (U.S.).
The market segments include Thickness, Type, Application.
The market size is estimated to be USD 17.50 USD Billion as of 2022.
Increased Product Demand from the Automotive Industry to Aid Market Expansion.
Increasing Product Adoption to Manufacture Electrical Motors to Boost Market Proliferation.
Fluctuation in Steel Prices to Hinder the Market Growth.
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The market size is provided in terms of value, measured in USD Billion and volume, measured in Kiloton.
Yes, the market keyword associated with the report is "Non-Grain Oriented Electrical Steel Market," which aids in identifying and referencing the specific market segment covered.
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