1. What is the projected Compound Annual Growth Rate (CAGR) of the U.S. Grain Oriented Electrical Steel (GOES) Market?
The projected CAGR is approximately 5.6%.
U.S. Grain Oriented Electrical Steel (GOES) MarketU.S. Grain Oriented Electrical Steel (GOES) Market 2025 to Grow at 5.6 CAGR with 896.9 USD Million Market Size: Analysis and Forecasts 2033
U.S. Grain Oriented Electrical Steel (GOES) Market by Product Type (Conventional, High Magnetic Strength, Domain Refinement), by Thickness (0.2 mm, Below, 0.23 mm, 0.27 mm, 0.30 mm, 0.35 mm, Above), by Application (Transformer, Power Generator, Electric Motor, Others), by Forecast 2025-2033
Base Year: 2024
120 Pages
U.S. Grain Oriented Electrical Steel (GOES) Market 2025 to Grow at 5.6 CAGR with 896.9 USD Million Market Size: Analysis and Forecasts 2033
U.S. Grain Oriented Electrical Steel (GOES) Market 2025 to Grow at 5.6 CAGR with 896.9 USD Million Market Size: Analysis and Forecasts 2033
Key Insights
The U.S. Grain Oriented Electrical Steel (GOES) Marketsize was valued at USD 896.9 USD Million in 2023 and is projected to reach USD 1313.38 USD Million by 2032, exhibiting a CAGR of 5.6 % during the forecast period. Grain Oriented Electrical Steel (GOES) is a specialized type of electrical steel optimized for high magnetic permeability and low core loss in the direction of rolling. It is primarily used in the cores of transformers and large electric machines, where efficient magnetic flux conduction is critical. GOES is classified into two main types: conventional grain-oriented (CGO) and high permeability grain-oriented (HGO). Key features of GOES include its reduced hysteresis loss, high saturation magnetization, and excellent magnetic properties along the rolling direction. These characteristics make GOES indispensable in power transformers, distribution transformers, and certain magnetic amplifiers, contributing to the overall efficiency and performance of electrical power systems.
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U.S. Grain Oriented Electrical Steel (GOES) Trends
- Increasing adoption of energy-efficient appliances and equipment
- Rising investment in renewable energy generation and transmission infrastructure
- Growing demand for electric vehicles and related components
Driving Forces: What's Propelling the U.S. Grain Oriented Electrical Steel (GOES) Market
- Government incentives and regulations promoting energy efficiency
- Technological advancements leading to improved performance and cost-effectiveness
- Expansion of the power generation and distribution sector
Challenges and Restraints in U.S. Grain Oriented Electrical Steel (GOES) Market
- Fluctuating Raw Material Prices: The price of silicon steel, a primary raw material used in the production of GOES, is subject to market volatility, affecting manufacturers' profitability and stability.
- Competition from Alternative Materials: Amorphous metals and soft magnetic composites offer competitive properties to GOES, potentially reducing market share in certain applications.
- Limited Skilled Labor: The production and processing of GOES require specialized skills, creating a challenge to find and retain qualified workers.
Emerging Trends in U.S. Grain Oriented Electrical Steel (GOES)
- Development of new high-strength and high-permeability alloys
- Adoption of advanced manufacturing techniques to reduce production costs
- Increased focus on sustainability and environmental compliance
Growth Catalysts in U.S. Grain Oriented Electrical Steel (GOES) Industry
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- Accelerated EV Adoption: The rapid proliferation of electric vehicles and plug-in hybrid electric vehicles drives increased demand for GOES in high-efficiency electric motors and generators.
- Sustained Infrastructure Modernization: Ongoing investments in grid infrastructure upgrades and the construction of renewable energy projects create a robust market for GOES in power transmission and distribution networks.
- Government Policy Support: Federal and state government incentives and regulations aimed at reducing energy consumption and promoting clean energy technologies create favorable conditions for GOES adoption.
- Ongoing Technological Innovation: Continuous advancements in materials science and manufacturing processes lead to improved GOES performance, enabling higher energy efficiency and lower energy losses.
Market Segmentation: U.S. Grain Oriented Electrical Steel (GOES) Analysis
Product Type:
- Conventional
- High Magnetic Strength
- Domain Refinement
Thickness:
- 0.2 mm and Below
- 0.23 mm
- 0.27 mm
- 0.30 mm
- 0.35 mm and Above
Application:
- Transformer
- Power Generator
- Electric Motor
- Others
Leading Players in the U.S. Grain-Oriented Electrical Steel (GOES) Market
- Cleveland-Cliffs Inc.
- Arnold Magnetic Technologies
- VIZ-Steel
- ArcelorMittal
- POSCO
- Baosteel Group Corporation
- Nippon Steel Corporation
- JFE Steel Corporation
- ThyssenKrupp Steel
Significant developments in the U.S. Grain Oriented Electrical Steel (GOES) Sector
- December 2019: Cleveland-Cliffs Inc. acquired AK Steel to be self-sufficient in iron ore pellets and geared toward high-value-added steel products. AK Steel engages in the production of automotive steel, electrical steel, and flat-rolled carbon stainless products. Cleveland-Cliffs Inc. expects growth post-acquisition due to the contracted nature of AK Steel’s sales of high-end automotive steel.
Comprehensive Coverage U.S. Grain-Oriented Electrical Steel (GOES) Market Report
- Market Overview and Dynamics
- Porter's Five Forces Analysis
- PEST Analysis
- Value Chain Analysis
- Competitive Landscape
- Market Segmentation Analysis
- Industry Developments and Trends
- Drivers and Challenges
- Growth Opportunities
- Forecast and Projections
Regional Insight
- North America: Expected to maintain its dominant market share due to strong demand from the automotive and power generation sectors.
- Europe: Stringent environmental regulations and a push towards renewable energy sources drive growth in the GOES market.
- Asia Pacific: Rapid urbanization, industrialization, and growing energy consumption contribute to the region's significant market potential.
- South America: Increasing infrastructure investments and government initiatives aimed at energy efficiency support market expansion.
- Middle East & Africa: Growing population, urbanization, and government modernization programs present opportunities for GOES adoption.
Consumer Side Analysis
- End-use industry analysis
- Consumption patterns and trends
- Consumer demographics and behavior
Demand Side Analysis
- Market size and growth projections
- Market drivers and restraints
- Competitive analysis
Import And Export Analysis
- Trade data and analysis
- Major import and export countries
- Tariffs and regulations
U.S. Grain Oriented Electrical Steel (GOES) Market REPORT HIGHLIGHTS
| Aspects | Details |
|---|---|
| Study Period | 2019-2033 |
| Base Year | 2024 |
| Estimated Year | 2025 |
| Forecast Period | 2025-2033 |
| Historical Period | 2019-2024 |
| Growth Rate | CAGR of 5.6% from 2019-2033 |
| Segmentation |
|
Table of Contents
- 1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
- 2. Executive Summary
- 2.1. Introduction
- 3. Market Dynamics
- 3.1. Introduction
- 3.2. Market Drivers
- 3.2.1. Increased Grain Oriented Electrical Steel Demand for Enhancing Energy Grid to Drive Market Growth
- 3.3. Market Restrains
- 3.3.1. Fluctuations in Energy Prices to Hamper Market Growth
- 3.4. Market Trends
- 3.4.1. Growing Renewable Energy Adoption to Boost Market Growth
- 4. Market Factor Analysis
- 4.1. Porters Five Forces
- 4.2. Supply/Value Chain
- 4.3. PESTEL analysis
- 4.4. Market Entropy
- 4.5. Patent/Trademark Analysis
- 5. U.S. Grain Oriented Electrical Steel (GOES) Market Analysis, Insights and Forecast, 2019-2031
- 5.1. Market Analysis, Insights and Forecast - by Product Type
- 5.1.1. Conventional
- 5.1.2. High Magnetic Strength
- 5.1.3. Domain Refinement
- 5.2. Market Analysis, Insights and Forecast - by Thickness
- 5.2.1. 0.2 mm
- 5.2.2. Below
- 5.2.3. 0.23 mm
- 5.2.4. 0.27 mm
- 5.2.5. 0.30 mm
- 5.2.6. 0.35 mm
- 5.2.7. Above
- 5.3. Market Analysis, Insights and Forecast - by Application
- 5.3.1. Transformer
- 5.3.2. Power Generator
- 5.3.3. Electric Motor
- 5.3.4. Others
- 5.4. Market Analysis, Insights and Forecast - by Region
- 5.4.1.
- 5.1. Market Analysis, Insights and Forecast - by Product Type
- 6. Northeast U.S. Grain Oriented Electrical Steel (GOES) Market Analysis, Insights and Forecast, 2019-2031
- 7. Southeast U.S. Grain Oriented Electrical Steel (GOES) Market Analysis, Insights and Forecast, 2019-2031
- 8. Midwest U.S. Grain Oriented Electrical Steel (GOES) Market Analysis, Insights and Forecast, 2019-2031
- 9. Southwest U.S. Grain Oriented Electrical Steel (GOES) Market Analysis, Insights and Forecast, 2019-2031
- 10. West U.S. Grain Oriented Electrical Steel (GOES) Market Analysis, Insights and Forecast, 2019-2031
- 11. Competitive Analysis
- 11.1. Market Share Analysis 2024
- 11.2. Company Profiles
- 11.2.1 Cleveland-Cliffs Inc. (U.S.)
- 11.2.1.1. Overview
- 11.2.1.2. Products
- 11.2.1.3. SWOT Analysis
- 11.2.1.4. Recent Developments
- 11.2.1.5. Financials (Based on Availability)
- 11.2.2 Arnold Magnetic Technologies (U.S.)
- 11.2.2.1. Overview
- 11.2.2.2. Products
- 11.2.2.3. SWOT Analysis
- 11.2.2.4. Recent Developments
- 11.2.2.5. Financials (Based on Availability)
- 11.2.3 VIZ-Steel (U.S.)
- 11.2.3.1. Overview
- 11.2.3.2. Products
- 11.2.3.3. SWOT Analysis
- 11.2.3.4. Recent Developments
- 11.2.3.5. Financials (Based on Availability)
- 11.2.4 ArcelorMittal (Luxembourg)
- 11.2.4.1. Overview
- 11.2.4.2. Products
- 11.2.4.3. SWOT Analysis
- 11.2.4.4. Recent Developments
- 11.2.4.5. Financials (Based on Availability)
- 11.2.5 POSCO (South Korea)
- 11.2.5.1. Overview
- 11.2.5.2. Products
- 11.2.5.3. SWOT Analysis
- 11.2.5.4. Recent Developments
- 11.2.5.5. Financials (Based on Availability)
- 11.2.6 Baosteel Group Corporation (China)
- 11.2.6.1. Overview
- 11.2.6.2. Products
- 11.2.6.3. SWOT Analysis
- 11.2.6.4. Recent Developments
- 11.2.6.5. Financials (Based on Availability)
- 11.2.7 Nippon Steel Corporation (Japan)
- 11.2.7.1. Overview
- 11.2.7.2. Products
- 11.2.7.3. SWOT Analysis
- 11.2.7.4. Recent Developments
- 11.2.7.5. Financials (Based on Availability)
- 11.2.8 JFE Steel Corporation (Japan)
- 11.2.8.1. Overview
- 11.2.8.2. Products
- 11.2.8.3. SWOT Analysis
- 11.2.8.4. Recent Developments
- 11.2.8.5. Financials (Based on Availability)
- 11.2.9 ThyssenKrupp Steel (Germany)
- 11.2.9.1. Overview
- 11.2.9.2. Products
- 11.2.9.3. SWOT Analysis
- 11.2.9.4. Recent Developments
- 11.2.9.5. Financials (Based on Availability)
- 11.2.1 Cleveland-Cliffs Inc. (U.S.)
List of Figures
- Figure 1: U.S. Grain Oriented Electrical Steel (GOES) Market Revenue Breakdown (USD Million, %) by Product 2024 & 2032
- Figure 2: U.S. Grain Oriented Electrical Steel (GOES) Market Share (%) by Company 2024
List of Tables
- Table 1: U.S. Grain Oriented Electrical Steel (GOES) Market Revenue USD Million Forecast, by Region 2019 & 2032
- Table 2: U.S. Grain Oriented Electrical Steel (GOES) Market Volume K Tons Forecast, by Region 2019 & 2032
- Table 3: U.S. Grain Oriented Electrical Steel (GOES) Market Revenue USD Million Forecast, by Product Type 2019 & 2032
- Table 4: U.S. Grain Oriented Electrical Steel (GOES) Market Volume K Tons Forecast, by Product Type 2019 & 2032
- Table 5: U.S. Grain Oriented Electrical Steel (GOES) Market Revenue USD Million Forecast, by Thickness 2019 & 2032
- Table 6: U.S. Grain Oriented Electrical Steel (GOES) Market Volume K Tons Forecast, by Thickness 2019 & 2032
- Table 7: U.S. Grain Oriented Electrical Steel (GOES) Market Revenue USD Million Forecast, by Application 2019 & 2032
- Table 8: U.S. Grain Oriented Electrical Steel (GOES) Market Volume K Tons Forecast, by Application 2019 & 2032
- Table 9: U.S. Grain Oriented Electrical Steel (GOES) Market Revenue USD Million Forecast, by Region 2019 & 2032
- Table 10: U.S. Grain Oriented Electrical Steel (GOES) Market Volume K Tons Forecast, by Region 2019 & 2032
- Table 11: U.S. Grain Oriented Electrical Steel (GOES) Market Revenue USD Million Forecast, by Country 2019 & 2032
- Table 12: U.S. Grain Oriented Electrical Steel (GOES) Market Volume K Tons Forecast, by Country 2019 & 2032
- Table 13: Northeast U.S. Grain Oriented Electrical Steel (GOES) Market Revenue (USD Million) Forecast, by Application 2019 & 2032
- Table 14: Northeast U.S. Grain Oriented Electrical Steel (GOES) Market Volume (K Tons ) Forecast, by Application 2019 & 2032
- Table 15: Southeast U.S. Grain Oriented Electrical Steel (GOES) Market Revenue (USD Million) Forecast, by Application 2019 & 2032
- Table 16: Southeast U.S. Grain Oriented Electrical Steel (GOES) Market Volume (K Tons ) Forecast, by Application 2019 & 2032
- Table 17: Midwest U.S. Grain Oriented Electrical Steel (GOES) Market Revenue (USD Million) Forecast, by Application 2019 & 2032
- Table 18: Midwest U.S. Grain Oriented Electrical Steel (GOES) Market Volume (K Tons ) Forecast, by Application 2019 & 2032
- Table 19: Southwest U.S. Grain Oriented Electrical Steel (GOES) Market Revenue (USD Million) Forecast, by Application 2019 & 2032
- Table 20: Southwest U.S. Grain Oriented Electrical Steel (GOES) Market Volume (K Tons ) Forecast, by Application 2019 & 2032
- Table 21: West U.S. Grain Oriented Electrical Steel (GOES) Market Revenue (USD Million) Forecast, by Application 2019 & 2032
- Table 22: West U.S. Grain Oriented Electrical Steel (GOES) Market Volume (K Tons ) Forecast, by Application 2019 & 2032
- Table 23: U.S. Grain Oriented Electrical Steel (GOES) Market Revenue USD Million Forecast, by Product Type 2019 & 2032
- Table 24: U.S. Grain Oriented Electrical Steel (GOES) Market Volume K Tons Forecast, by Product Type 2019 & 2032
- Table 25: U.S. Grain Oriented Electrical Steel (GOES) Market Revenue USD Million Forecast, by Thickness 2019 & 2032
- Table 26: U.S. Grain Oriented Electrical Steel (GOES) Market Volume K Tons Forecast, by Thickness 2019 & 2032
- Table 27: U.S. Grain Oriented Electrical Steel (GOES) Market Revenue USD Million Forecast, by Application 2019 & 2032
- Table 28: U.S. Grain Oriented Electrical Steel (GOES) Market Volume K Tons Forecast, by Application 2019 & 2032
- Table 29: U.S. Grain Oriented Electrical Steel (GOES) Market Revenue USD Million Forecast, by Country 2019 & 2032
- Table 30: U.S. Grain Oriented Electrical Steel (GOES) Market Volume K Tons Forecast, by Country 2019 & 2032
Methodology
Step 1 - Identification of Relevant Samples Size from Population Database
Step 2 - Approaches for Defining Global Market Size (Value, Volume* & Price*)
Top-down and bottom-up approaches are used to validate the global market size and estimate the market size for manufactures, regional segments, product, and application.
Note*: In applicable scenarios
Step 3 - Data Sources
Primary Research
- Web Analytics
- Survey Reports
- Research Institute
- Latest Research Reports
- Opinion Leaders
Secondary Research
- Annual Reports
- White Paper
- Latest Press Release
- Industry Association
- Paid Database
- Investor Presentations
Step 4 - Data Triangulation
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
Additionally, after gathering mixed and scattered data from a wide range of sources, data is triangulated and correlated to come up with estimated figures which are further validated through primary mediums or industry experts, opinion leaders.
Frequently Asked Questions
2. Which companies are prominent players in the U.S. Grain Oriented Electrical Steel (GOES) Market?
Key companies in the market include Cleveland-Cliffs Inc. (U.S.), Arnold Magnetic Technologies (U.S.), VIZ-Steel (U.S.), ArcelorMittal (Luxembourg), POSCO (South Korea), Baosteel Group Corporation (China), Nippon Steel Corporation (Japan), JFE Steel Corporation (Japan), ThyssenKrupp Steel (Germany).
3. What are the main segments of the U.S. Grain Oriented Electrical Steel (GOES) Market?
The market segments include Product Type, Thickness, Application.
4. Can you provide details about the market size?
The market size is estimated to be USD 896.9 USD Million as of 2022.
5. What are some drivers contributing to market growth?
Increased Grain Oriented Electrical Steel Demand for Enhancing Energy Grid to Drive Market Growth.
6. What are the notable trends driving market growth?
Growing Renewable Energy Adoption to Boost Market Growth.
7. Are there any restraints impacting market growth?
Fluctuations in Energy Prices to Hamper Market Growth.
8. Can you provide examples of recent developments in the market?
December 2019 – Cleveland-Cliffs Inc. acquired AK Steel to be self-sufficient in iron ore pellets and geared toward high value-added steel products. AK Steel engages in the production of automotive steel, electrical steel, and flat-rolled carbon stainless products. Cleveland-Cliffs Inc. expects growth post-acquisition due to the contracted nature of AK Steel’s sales of high-end automotive steel.
9. What pricing options are available for accessing the report?
Pricing options include single-user, multi-user, and enterprise licenses priced at USD 4850, USD 5850, and USD 6850 respectively.
10. Is the market size provided in terms of value or volume?
The market size is provided in terms of value, measured in USD Million and volume, measured in K Tons .
11. Are there any specific market keywords associated with the report?
Yes, the market keyword associated with the report is "U.S. Grain Oriented Electrical Steel (GOES) Market," which aids in identifying and referencing the specific market segment covered.
12. How do I determine which pricing option suits my needs best?
The pricing options vary based on user requirements and access needs. Individual users may opt for single-user licenses, while businesses requiring broader access may choose multi-user or enterprise licenses for cost-effective access to the report.
13. Are there any additional resources or data provided in the U.S. Grain Oriented Electrical Steel (GOES) Market report?
While the report offers comprehensive insights, it's advisable to review the specific contents or supplementary materials provided to ascertain if additional resources or data are available.
14. How can I stay updated on further developments or reports in the U.S. Grain Oriented Electrical Steel (GOES) Market?
To stay informed about further developments, trends, and reports in the U.S. Grain Oriented Electrical Steel (GOES) Market, consider subscribing to industry newsletters, following relevant companies and organizations, or regularly checking reputable industry news sources and publications.