Grain Oriented Electrical Steel Market Size, Share, Growth and Global Industry Analysis
商品番号 : SMB-91455
| 出版社 | Fortune Business Insights |
| 出版年月 | 2025年11月 |
| ページ数 | 230 |
| 価格タイプ | シングルユーザライセンス |
| 価格 | USD 4,850 |
| 種別 | 英文調査報告書 |
方向性電磁鋼板市場の規模、シェア、成長、タイプと用途別の世界業界分析、製品タイプ（従来型、高磁力鋼板、磁区微細化）、厚さ別（0.2 mm以下、0.23 mm、0.27 mm、0.30 mm、0.35 mm以上）、用途別（変圧器、発電機、電動機、その他）、および地域別予測、2024-2032年までの予測
世界の方向性電磁鋼板市場規模は、2023年に114.4億米ドルと評価され、送電・配電網全体におけるエネルギー効率の高いソリューションへの需要の高まりを反映し、2024年の119.7億米ドルから2032年には173.6億米ドルに成長すると予測されています。この方向性電磁鋼板セグメントは、世界のエネルギーエコシステムにおいて極めて重要な役割を果たしており、主に交流（AC）で動作する変圧器や大型電気機械に使用されています。
Growth Factors of Grain Oriented Electrical Steel Market
The global grain oriented electrical steel market size was valued at USD 11.44 billion in 2023 and is projected to grow from USD 11.97 billion in 2024 to USD 17.36 billion by 2032, reflecting the growing demand for energy-efficient solutions across power transmission and distribution networks. This segment of electrical steel plays a pivotal role in the global energy ecosystem, primarily used in transformers and large electrical machines that operate on alternating current (AC).
What is Grain Oriented Electrical Steel?
Grain oriented electrical steel (GOES) is a special type of steel with a unique grain structure, developed specifically for use in energy-efficient electrical applications. The steel undergoes a special rolling and annealing process to align its grain structure in a single direction, significantly enhancing magnetic properties and reducing core loss in transformers. It is essential in manufacturing distribution transformers, power transformers, and high-efficiency electric motors, which are critical for transmitting electricity with minimal energy loss.
Driving Forces Behind Market Growth
The grain oriented electrical steel market is seeing a strong upswing due to the accelerated demand for electricity and the corresponding infrastructure development. In 2023 alone, global electricity consumption rose by over 2.2%, driven by rapid urbanization, industrialization, and electrification in developing nations. Additionally, governments across the globe are heavily investing in grid modernization projects. For instance, the U.S. Department of Energy allocated USD 13 billion in 2023 towards modernizing the electric grid, directly stimulating demand for transformer cores made from GOES.
Another critical driver is the shift towards renewable energy. As solar and wind installations grow, efficient transformer technology becomes imperative. GOES helps minimize losses in these systems, thus improving overall grid efficiency. The push for zero-carbon goals and sustainable energy solutions is also resulting in increased adoption of high-performance materials like grain oriented electrical steel.
Segmentation Insights
By type, the market is segmented into conventional grain-oriented steel (CGO) and high permeability grain-oriented steel (HGO). HGO holds a larger share due to its superior magnetic properties and is increasingly preferred for large-scale transformers.
By application, the market is dominated by the transformers segment, which accounted for over 65% of the market share in 2023. The rising deployment of smart grids and replacement of aging power infrastructure globally are expanding transformer demand, thereby fueling growth in GOES.
Regional Market Performance
In 2023, Asia Pacific emerged as the leading region, capturing over 42% of the global market share. China, India, and Japan are the key contributors due to their large-scale power generation and distribution networks. China alone accounts for over 60% of Asia’s transformer production, with growing investments in ultra-high voltage (UHV) transmission projects further propelling demand.
Europe follows as the second-largest market, accounting for approximately 26% of the share. The region’s strict energy efficiency regulations, especially in Germany and France, have led to increased adoption of GOES in grid and industrial applications.
North America held a market share of around 18%, supported by the modernization of grid infrastructure and the growing focus on renewable energy integration, particularly in the United States and Canada.
Competitive Landscape
The market is moderately consolidated, with major players focusing on capacity expansion, technological innovation, and strategic mergers to strengthen their position. Key companies include:
- Nippon Steel Corporation
- POSCO
- Baoshan Iron & Steel Co., Ltd. (Baosteel)
- JFE Steel Corporation
- ThyssenKrupp Electrical Steel
- AK Steel (Cleveland-Cliffs Inc.)
In September 2023, Nippon Steel announced a USD 400 million investment to boost its GOES production in response to rising global demand. Similarly, Baosteel expanded its capacity in China, targeting export opportunities across Southeast Asia and the Middle East.
ATTRIBUTE DETAILS
Study Period 2019-2032
Base Year 2023
Estimated Year 2024
Forecast Period 2024-2032
Historical Period 2019-2022
CAGR (2023-2030) CAGR of 5.7% from 2024-2032
Unit Value (USD Billion) and Volume (Kiloton)
Segmentation
By Product Type
- Conventional
- High Magnetic Strength Sheets
- Domain Refinement
By Thickness
- 0.2 mm and Below
- 0.23 mm
- 0.27 mm
- 0.30 mm
- 0.35 mm and Above
By Application
- Transformer
- Power Generator
- Electric Motor
- Others
By Geography
- North America (By Product Type, By Application, By Country)
o U.S.
o Canada
- Europe (By Product Type, By Application, By Country)
o Germany
o U.K.
o France
o Italy
o Russia
o Rest of Europe
- Asia Pacific (By Product Type, By Application, By Country)
o China
o India
o Australia
o Indonesia
o Thailand
o Malaysia
o Philippines
o Vietnam
o Rest of the Asia Pacific
- Latin America (By Product Type, By Application, By Country)
o Brazil
o Mexico
o Colombia
o Argentina
o Rest of Latin America
- Middle East & Africa (By Product Type, By Application, By Country)
o Saudi Arabia
o UAE
o Turkey
o Rest of the Middle East & Africa
LIST OF KEY COMPANIES IN GRAIN ORIENTED ELECTRICAL STEEL MARKET
Key Players Focus on Product Innovations to Strengthen Their Position
The major players operating in the market are Nippon Steel Corporation, ArcelorMittal, POSCO, and ThyssenKrupp Steel. The companies are involved in product innovation, collaborations, capacity improvement, and acquisition in the market. Nippon Steel Corporation is a prime manufacturer of steel. Furthermore, the company is involved in acquisitions, Rx&D activities, and steel innovations to meet the consumers’ demands.
LIST OF KEY COMPANIES PROFILED
- ArcelorMittal (Luxembourg)
- POSCO (South Korea)
- Stalprodukt S.A. (Poland)
- Baosteel Group Corporation (China)
- NIPPON STEEL CORPORATION (Japan)
- JFE Steel Corporation (Japan)
- thyssenkrupp Steel (Germany)
- Cleveland-Cliffs Inc. (U.S.)
- Arnold Magnetic Technologies (U.S.)
- VIZ-Steel (Russia)
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
3. Market Dynamics
3.1. Market Drivers
3.2. Market Restraints
3.3. Market Opportunities
4. Key Insights
4.1. Key Market Trends
4.2. Key Developments: Mergers, Acquisition, Partnership, etc.
4.3. Insights on Regulatory Scenario
4.4. Latest Technological Advancement
4.5. Porter’s Five Forces Analysis
4.6. Qualitative Insights on Impact of Covid-19 on the Market
5. Global Grain Oriented Electrical Steel Market Analysis, Insights and Forecast, 2019-2032
5.1. Key Findings
5.2. By Product Type (value and volume)
5.2.1. Conventional
5.2.2. High Magnetic Strength
5.2.3. Domain Refinement
5.3. By Application (value and volume)
5.3.1. Transformer
5.3.2. Power Generator
5.3.3. Electric Motor
5.3.4. Others
5.4. By Thickness (value and volume)
5.4.1. 0.2 mm and Below
5.4.2. 0.23 mm
5.4.3. 0.27 mm
5.4.4. 0.30 mm
5.4.5. 0.35 mm and Above
5.5. By Region (value and volume)
5.5.1. North America
5.5.2. Europe
5.5.3. Asia Pacific
5.5.4. Latin America
5.5.5. Middle East & Africa
6. North America Grain Oriented Electrical Steel Market Analysis, Insights and Forecast, 2019-2032
6.1. Key Findings
6.2. By Product Type (value and volume)
6.2.1. Conventional
6.2.2. High Magnetic Strength
6.2.3. Domain Refinement
6.3. By Application (value and volume)
6.3.1. Transformer
6.3.2. Power Generator
6.3.3. Electric Motor
6.3.4. Others
6.4. By Country (value and volume)
6.4.1. U.S.
6.4.2. Canada
7. Europe Grain Oriented Electrical Steel Market Analysis, Insights and Forecast, 2019-2032
7.1. Key Findings
7.2. By Product Type (value and volume)
7.2.1. Conventional
7.2.2. High Magnetic Strength
7.2.3. Domain Refinement
7.3. By Application (value and volume)
7.3.1. Transformer
7.3.2. Power Generator
7.3.3. Electric Motor
7.3.4. Others
7.4. By Country (value and volume)
7.4.1. Germany
7.4.2. U.K.
7.4.3. France
7.4.4. Italy
7.4.5. Russia
7.4.6. Rest of Europe
8. Asia Pacific Grain Oriented Electrical Steel Market Analysis, Insights and Forecast, 2019-2032
8.1. Key Findings
8.2. By Product Type (value and volume)
8.2.1. Conventional
8.2.2. High Magnetic Strength
8.2.3. Domain Refinement
8.3. By Application (value and volume)
8.3.1. Transformer
8.3.2. Power Generator
8.3.3. Electric Motor
8.3.4. Others
8.4. By Country (value and volume)
8.4.1. China
8.4.2. India
8.4.3. Australia
8.4.4. Indonesia
8.4.5. Thailand
8.4.6. Malaysia
8.4.7. Philippines
8.4.8. Vietnam
8.4.9. Rest of Asia Pacific
9. Latin America Grain Oriented Electrical Steel Market Analysis, Insights and Forecast, 2019-2032
9.1. Key Findings
9.2. By Product Type (value and volume)
9.2.1. Conventional
9.2.2. High Magnetic Strength
9.2.3. Domain Refinement
9.3. By Application (value and volume)
9.3.1. Transformer
9.3.2. Power Generator
9.3.3. Electric Motor
9.3.4. Others
9.4. By Country (value and volume)
9.4.1. Brazil
9.4.2. Mexico
9.4.3. Colombia
9.4.4. Argentina
9.4.5. Rest of Latin America
10. Middle East & Africa Grain Oriented Electrical Steel Market Analysis, Insights and Forecast, 2019-2032
10.1. Key Findings
10.2. By Product Type (value and volume)
10.2.1. Conventional
10.2.2. High Magnetic Strength
10.2.3. Domain Refinement
10.3. By Application (value and volume)
10.3.1. Transformer
10.3.2. Power Generator
10.3.3. Electric Motor
10.3.4. Others
10.4. By Country (value and volume)
10.4.1. Saudi Arabia
10.4.2. UAE
10.4.3. Turkey
10.4.4. Rest of Middle East & Africa
11. Company Profile (Overview, Applications & Services, Recent Developments, Strategies, Financials (based on availability))
11.1. ArcelorMittal
11.1.1. Overview
11.1.2. Description
11.1.3. Product Portfolio
11.1.4. Financials (As per Availability)
11.1.5. Recent Developments
11.2. POSCO
11.2.1. Overview
11.2.2. Description
11.2.3. Product Portfolio
11.2.4. Financials (As per Availability)
11.2.5. Recent Developments
11.3. Stalprodukt S.A.
11.3.1. Overview
11.3.2. Description
11.3.3. Product Portfolio
11.3.4. Financials (As per Availability)
11.3.5. Recent Developments
11.4. Baosteel Group Corporation
11.4.1. Overview
11.4.2. Description
11.4.3. Product Portfolio
11.4.4. Financials (As per Availability)
11.4.5. Recent Developments
11.5. NIPPON STEEL CORPORATION
11.5.1. Overview
11.5.2. Description
11.5.3. Product Portfolio
11.5.4. Financials (As per Availability)
11.5.5. Recent Developments
11.6. JFE Steel Corporation
11.6.1. Overview
11.6.2. Description
11.6.3. Product Portfolio
11.6.4. Financials (As per Availability)
11.6.5. Recent Developments
11.7. thyssenkrupp Steel
11.7.1. Overview
11.7.2. Description
11.7.3. Product Portfolio
11.7.4. Financials (As per Availability)
11.7.5. Recent Developments
11.8. Cleveland-Cliffs Inc
11.8.1. Overview
11.8.2. Description
11.8.3. Product Portfolio
11.8.4. Financials (As per Availability)
11.8.5. Recent Developments
11.9. Arnold Magnetic Technologies
11.9.1. Overview
11.9.2. Description
11.9.3. Product Portfolio
11.9.4. Financials (As per Availability)
11.9.5. Recent Developments
11.10. VIZ-Steel
11.10.1. Overview
11.10.2. Description
11.10.3. Product Portfolio
11.10.4. Financials (As per Availability)
11.10.5. Recent Developments
12. Strategic Recommendations
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