Selbyville, Delaware, June 04, 2020 (GLOBE NEWSWIRE) -- Global grain oriented electrical steel market generated revenues worth USD 7.21 billion in the year 2019 and is expected to grow with a CAGR of 3.31% through 2026. Increasing dependency on electricity and rising adoption of GOES in electricity transformation activities are major factors driving the market growth.
According to the given report, global grain oriented electrical steel industry has been fragmented into various segments such as type, applications, regions and key players. The study emphasizes the respective market shares as well as prevailing and expected growth rates, overall segment valuation and other crucial details of every listed segment.
In fact, according to IEA (International Energy Agencies), the worldwide demand for electricity is presumed to grow 2.1% annually till the year 2040. Moreover, the consumption of electricity is estimated to increase by 24% by 2040 up from 19% in 2018.
GOES (grain oriented electrical steels) are iron-silicon based magnetic alloys which are utilized to develop the core of electric transformers. The product exhibits excellent electricity conservation as well as magnetic properties which play a pivotal role in transformer core operations. Moreover, grain oriented electrical steel offers high permeability as well as low core loss, thereby enabling economical and efficient operations of electrical transformers.
Request Sample copy of this Report @ https://www.marketstudyreport.com/request-a-sample/2663580/
Rapid urbanization and growing population are further aiding the expansion of grain oriented electrical steel industry. However, factors such as price fluctuations and high costs associated with GOES may act as a restraining factor to the overall market growth. Additionally, the emergence of COVID-19 pandemic has not only affected various manufacturing industries, but also has resulted in global economic slowdown, which is projected to inhibit the market expansion.
Analyzing the regional spectrum
The regional spectrum of grain oriented electrical steel industry is divided into Asia-Pacific, North America, Latin America, Europe, and ROW. North America holds a significant fraction of the global revenues and is expected to exhibit decent traction in the subsequent years. Notably, growing electricity demand coupled with swift urbanization are favoring the business outlook in the region.
To access a sample copy or view this report in detail along with the table of contents, please click the link below:
Alternatively, the grain oriented electrical steel industry in Asia-Pacific is anticipated to record a substantial growth during the forecast period, primarily due to rising demand and consumption of electricity.
Grain Oriented Electrical Steel Market Type Analysis (Revenue, USD Billion, 2016-2026)
- Conventional
- High Magnetic Strength
- Domain Refinement
Grain Oriented Electrical Steel Market Application Analysis (Revenue, USD Billion, 2016-2026)
- Transformer
- Power Generator
- Electric Motor
- Others
Grain Oriented Electrical Steel Market Regional Analysis (Revenue, USD Billion, 2016-2026)
North America
- U.S.
- Canada
Europe
- U.K.
- Germany
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- Rest of Asia-Pacific
Latin America
- Brazil
- Mexico
Rest of the World
Grain Oriented Electrical Steel Market Competitive Analysis (Revenue, USD Billion, 2020-2026)
- Shandong Iron & Steel Group Co. Ltd.
- Steel Authority of India Ltd.
- ArcelorMittal S.A.
- Tata Steel Ltd.
- Nippon Steel & Sumitomo Metal Corp. (NSSMC) Group
- United States Steel Corp.
- China Baowu Steel Group Corp. Ltd.
- Jiangsu Shangang Group Co. Ltd.
- JFE Steel Corp.
- Ansteel Group Corp.
- AK Steel Holding
Table of Content:
Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2018-2026 (USD Billion)
1.2.1. Grain Oriented Electrical Steel Market, by Region, 2018-2026 (USD Billion)
1.2.2. Grain Oriented Electrical Steel Market, by Type, 2018-2026 (USD Billion)
1.2.3. Grain Oriented Electrical Steel Market, by Application, 2018-2026 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Grain Oriented Electrical Steel Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Grain Oriented Electrical Steel Market Dynamics
3.1. Grain Oriented Electrical Steel Market Impact Analysis (2018-2026)
3.1.1. Market Drivers
3.1.2. Market Challenges
3.1.3. Market Opportunities
Chapter 4. Global Grain Oriented Electrical Steel Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.1.6. Futuristic Approach to Porter’s 5 Force Model (2016-2026)
4.2. PEST Analysis
4.2.1. Political
4.2.2. Economical
4.2.3. Social
4.2.4. Technological
4.3. Investment Adoption Model
4.4. Analyst Recommendation & Conclusion
Chapter 5. Global Grain Oriented Electrical Steel Market, by Type
5.1. Market Snapshot
5.2. Global Grain Oriented Electrical Steel Market by Type, Performance - Potential Analysis
5.3. Global Grain Oriented Electrical Steel Market Estimates & Forecasts by Type 2016-2026 (USD Billion)
5.4. Grain Oriented Electrical Steel Market, Sub Segment Analysis
5.4.1. Conventional
5.4.2. High Magnetic Strength
5.4.3. Domain Refinement
Chapter 6. Global Grain Oriented Electrical Steel Market, by Application
6.1. Market Snapshot
6.2. Global Grain Oriented Electrical Steel Market by Application, Performance - Potential Analysis
6.3. Global Grain Oriented Electrical Steel Market Estimates & Forecasts by Application 2016-2026 (USD Billion)
6.4. Grain Oriented Electrical Steel Market, Sub Segment Analysis
6.4.1. Transformer
6.4.2. Power Generator
6.4.3. Electric Motor
6.4.4. Other
Chapter 7. Global Grain Oriented Electrical Steel Market, Regional Analysis
Related Report:
Electrical Steel Market Size, Share & Forecast, 2019 – 2025
Electrical Steel Market may exceed USD 22.5 billion by 2025; according to a new research report. Rising demand for electricity in industrial & residential areas along with growing investments for infrastructure development will drive the electrical steel market growth. The product is widely used in transformers and motors owing to their high magnetic efficiency. They enhance the performance of materials by reducing hysteresis loss and play a crucial role in the generation, transmission and distribution of electric power.
About US:
Market Study Report, LLC. is a hub for market intelligence products and services.
We streamline the purchase of your market research reports and services through a single integrated platform by bringing all the major publishers and their services at one place.
Our customers partner with Market Study Report, LLC. to ease their search and evaluation of market intelligence products and services and in turn focus on their company's core activities.
If you are looking for research reports on global or regional markets, competitive information, emerging markets and trends or just looking to stay on top of the curve then Market Study Report, LLC. is the platform that can help you in achieving any of these objectives.