NGO Electrical Steel Market Insights: Global Size Projected to Reach USD 18.14 Billion by 2030

The NGO electrical steel market is on an upward trajectory, with projections indicating a remarkable growth, expected to reach USD 18.14 billion by 2030. This surge is driven by the increasing demand for energy-efficient electrical machines, advancements in electrical steel manufacturing processes, and the rising emphasis on renewable energy sources.

According to the new market research report "NGO Electrical Steel- Global Market Share and Ranking, Overall Sales and Demand Forecast 2024-2030", published by QYResearch, the global NGO Electrical Steel market size is projected to reach USD 18.14 billion by 2030, at a CAGR of 2.7% during the forecast period.

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Electrical steels are distinguished by their excellent electro-magnetic properties. There are two major types of electrical steels: grain-oriented (GO) and non-oriented (NO). NGO Electrical Steel features homogeneous magnetic properties in all directions. They are widely used as iron core materials in rotating machines ranging from large power generators to tiny precision electric motors. They are also used in the iron core of small power transformers.

According to QYResearch Top Players Research Center, the global key manufacturers of NGO Electrical Steel include Baowu, Nippon Steel, Shougang Group, Ansteel, TISCO, JFE Steel, Xin Steel, ThyssenKrupp, CSC, Voestalpine, etc. In 2023, the global top five players had a share approximately 52.0% in terms of revenue.

NMarket Drivers:

Growing Energy Demand: The increasing global demand for electricity, driven by population growth, industrialization, and urbanization, is a major driver for the NGO Electrical Steel market. As more countries invest in renewable energy sources, such as wind and solar power, the demand for NGO Electrical Steel-based electrical equipment like generators and inverters is expected to rise.

Industrial Development: The expansion of industries, particularly in emerging economies, is boosting the demand for electrical equipment. NGO Electrical Steel finds applications in various industries, including automotive, appliances, construction, and electronics. The growth of these industries, especially in developing regions, presents a significant market opportunity for NGO Electrical Steel.

Electric Vehicle (EV) Market Growth: The rapid adoption of electric vehicles is a significant driver for the NGO Electrical Steel market. NGO Electrical Steel is used in electric motors and traction motors in EVs. With the global push for decarbonization and the increasing demand for electric vehicles, the NGO Electrical Steel market is expected to experience substantial growth.

Restraint:

Raw Material Price Volatility: The cost and availability of raw materials, particularly iron ore and other alloys used in NGO Electrical Steel production, can be volatile. Fluctuations in raw material prices can affect the overall cost of production and profitability for NGO Electrical Steel manufacturers.

Economic Downturns: Economic downturns and fluctuations can impact the NGO Electrical Steel market. During periods of economic slowdown, the demand for electrical equipment and infrastructure projects may decline, affecting the demand for NGO Electrical Steel.

Opportunity:

Technological Advancements: Continuous research and development efforts were focused on improving the magnetic properties and efficiency of NGO Electrical Steel. Manufacturers were investing in advanced production technologies and processes to enhance the performance of NGO Electrical Steel-based electrical equipment.

Emerging Economies: Developing countries, especially in Asia-Pacific, were witnessing rapid industrialization, urbanization, and infrastructure development. This led to an increased demand for electrical equipment, including NGO Electrical Steel-based products, to support the growing energy needs of these economies.

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Table of Content

1 Market Overview
1.1 NGO Electrical Steel Product Introduction
1.2 Global NGO Electrical Steel Market Size Forecast
1.2.1 Global NGO Electrical Steel Sales Value (2019-2030)
1.2.2 Global NGO Electrical Steel Sales Volume (2019-2030)
1.2.3 Global NGO Electrical Steel Sales Price (2019-2030)
1.3 NGO Electrical Steel Market Trends & Drivers
1.3.1 NGO Electrical Steel Industry Trends
1.3.2 NGO Electrical Steel Market Drivers & Opportunity
1.3.3 NGO Electrical Steel Market Challenges
1.3.4 NGO Electrical Steel Market Restraints
1.4 Assumptions and Limitations
1.5 Study Objectives
1.6 Years Considered

2 Competitive Analysis by Company
2.1 Global NGO Electrical Steel Players Revenue Ranking (2023)
2.2 Global NGO Electrical Steel Revenue by Company (2019-2024)
2.3 Global NGO Electrical Steel Players Sales Volume Ranking (2023)
2.4 Global NGO Electrical Steel Sales Volume by Company Players (2019-2024)
2.5 Global NGO Electrical Steel Average Price by Company (2019-2024)
2.6 Key Manufacturers NGO Electrical Steel Manufacturing Base and Headquarters
2.7 Key Manufacturers NGO Electrical Steel Product Offered
2.8 Key Manufacturers Time to Begin Mass Production of NGO Electrical Steel
2.9 NGO Electrical Steel Market Competitive Analysis
2.9.1 NGO Electrical Steel Market Concentration Rate (2019-2024)
2.9.2 Global 5 and 10 Largest Manufacturers by NGO Electrical Steel Revenue in 2023
2.9.3 Global Top Manufacturers by Company Type (Tier 1, Tier 2, and Tier 3) & (based on the Revenue in NGO Electrical Steel as of 2023)
2.10 Mergers & Acquisitions, Expansion

3 Segmentation by Type
3.1 Introduction by Type
3.1.1 Medium and Low Grade
3.1.2 High Grade
3.2 Global NGO Electrical Steel Sales Value by Type
3.2.1 Global NGO Electrical Steel Sales Value by Type (2019 VS 2023 VS 2030)
3.2.2 Global NGO Electrical Steel Sales Value, by Type (2019-2030)
3.2.3 Global NGO Electrical Steel Sales Value, by Type (%) (2019-2030)
3.3 Global NGO Electrical Steel Sales Volume by Type
3.3.1 Global NGO Electrical Steel Sales Volume by Type (2019 VS 2023 VS 2030)
3.3.2 Global NGO Electrical Steel Sales Volume, by Type (2019-2030)
3.3.3 Global NGO Electrical Steel Sales Volume, by Type (%) (2019-2030)
3.4 Global NGO Electrical Steel Average Price by Type (2019-2030)

4 Segmentation by Application
4.1 Introduction by Application
4.1.1 Motor
4.1.2 Home Appliance
4.1.3 Power Generator
4.1.4 Automotive
4.1.5 Others
4.2 Global NGO Electrical Steel Sales Value by Application
4.2.1 Global NGO Electrical Steel Sales Value by Application (2019 VS 2023 VS 2030)
4.2.2 Global NGO Electrical Steel Sales Value, by Application (2019-2030)
4.2.3 Global NGO Electrical Steel Sales Value, by Application (%) (2019-2030)
4.3 Global NGO Electrical Steel Sales Volume by Application
4.3.1 Global NGO Electrical Steel Sales Volume by Application (2019 VS 2023 VS 2030)
4.3.2 Global NGO Electrical Steel Sales Volume, by Application (2019-2030)
4.3.3 Global NGO Electrical Steel Sales Volume, by Application (%) (2019-2030)
4.4 Global NGO Electrical Steel Average Price by Application (2019-2030)

5 Segmentation by Region
5.1 Global NGO Electrical Steel Sales Value by Region
5.1.1 Global NGO Electrical Steel Sales Value by Region: 2019 VS 2023 VS 2030
5.1.2 Global NGO Electrical Steel Sales Value by Region (2019-2024)
5.1.3 Global NGO Electrical Steel Sales Value by Region (2025-2030)
5.1.4 Global NGO Electrical Steel Sales Value by Region (%), (2019-2030)
5.2 Global NGO Electrical Steel Sales Volume by Region
5.2.1 Global NGO Electrical Steel Sales Volume by Region: 2019 VS 2023 VS 2030
5.2.2 Global NGO Electrical Steel Sales Volume by Region (2019-2024)
5.2.3 Global NGO Electrical Steel Sales Volume by Region (2025-2030)
5.2.4 Global NGO Electrical Steel Sales Volume by Region (%), (2019-2030)
5.3 Global NGO Electrical Steel Average Price by Region (2019-2030)
5.4 North America
5.4.1 North America NGO Electrical Steel Sales Value, 2019-2030
5.4.2 North America NGO Electrical Steel Sales Value by Country (%), 2023 VS 2030
5.5 Europe
5.5.1 Europe NGO Electrical Steel Sales Value, 2019-2030
5.5.2 Europe NGO Electrical Steel Sales Value by Country (%), 2023 VS 2030
5.6 Asia Pacific
5.6.1 Asia Pacific NGO Electrical Steel Sales Value, 2019-2030
5.6.2 Asia Pacific NGO Electrical Steel Sales Value by Region (%), 2023 VS 2030
5.7 South America
5.7.1 South America NGO Electrical Steel Sales Value, 2019-2030
5.7.2 South America NGO Electrical Steel Sales Value by Country (%), 2023 VS 2030
5.8 Middle East & Africa
5.8.1 Middle East & Africa NGO Electrical Steel Sales Value, 2019-2030
5.8.2 Middle East & Africa NGO Electrical Steel Sales Value by Country (%), 2023 VS 2030

6 Segmentation by Key Countries/Regions
6.1 Key Countries/Regions NGO Electrical Steel Sales Value Growth Trends, 2019 VS 2023 VS 2030
6.2 Key Countries/Regions NGO Electrical Steel Sales Value
6.2.1 Key Countries/Regions NGO Electrical Steel Sales Value, 2019-2030
6.2.2 Key Countries/Regions NGO Electrical Steel Sales Volume, 2019-2030
6.3 United States
6.3.1 United States NGO Electrical Steel Sales Value, 2019-2030
6.3.2 United States NGO Electrical Steel Sales Value by Type (%), 2023 VS 2030
6.3.3 United States NGO Electrical Steel Sales Value by Application, 2023 VS 2030
6.4 Europe
6.4.1 Europe NGO Electrical Steel Sales Value, 2019-2030
6.4.2 Europe NGO Electrical Steel Sales Value by Type (%), 2023 VS 2030
6.4.3 Europe NGO Electrical Steel Sales Value by Application, 2023 VS 2030
6.5 China
6.5.1 China NGO Electrical Steel Sales Value, 2019-2030
6.5.2 China NGO Electrical Steel Sales Value by Type (%), 2023 VS 2030
6.5.3 China NGO Electrical Steel Sales Value by Application, 2023 VS 2030
6.6 Japan
6.6.1 Japan NGO Electrical Steel Sales Value, 2019-2030
6.6.2 Japan NGO Electrical Steel Sales Value by Type (%), 2023 VS 2030
6.6.3 Japan NGO Electrical Steel Sales Value by Application, 2023 VS 2030
6.7 South Korea
6.7.1 South Korea NGO Electrical Steel Sales Value, 2019-2030
6.7.2 South Korea NGO Electrical Steel Sales Value by Type (%), 2023 VS 2030
6.7.3 South Korea NGO Electrical Steel Sales Value by Application, 2023 VS 2030
6.8 Southeast Asia
6.8.1 Southeast Asia NGO Electrical Steel Sales Value, 2019-2030
6.8.2 Southeast Asia NGO Electrical Steel Sales Value by Type (%), 2023 VS 2030
6.8.3 Southeast Asia NGO Electrical Steel Sales Value by Application, 2023 VS 2030
6.9 India
6.9.1 India NGO Electrical Steel Sales Value, 2019-2030
6.9.2 India NGO Electrical Steel Sales Value by Type (%), 2023 VS 2030
6.9.3 India NGO Electrical Steel Sales Value by Application, 2023 VS 2030

7 Company Profiles
7.1 Baowu
7.1.1 Baowu Company Information
7.1.2 Baowu Introduction and Business Overview
7.1.3 Baowu NGO Electrical Steel Sales, Revenue, Price and Gross Margin (2019-2024)
7.1.4 Baowu NGO Electrical Steel Product Offerings
7.1.5 Baowu Recent Development
7.2 Nippon Steel
7.2.1 Nippon Steel Company Information
7.2.2 Nippon Steel Introduction and Business Overview
7.2.3 Nippon Steel NGO Electrical Steel Sales, Revenue, Price and Gross Margin (2019-2024)
7.2.4 Nippon Steel NGO Electrical Steel Product Offerings
7.2.5 Nippon Steel Recent Development
7.3 Shougang Group
7.3.1 Shougang Group Company Information
7.3.2 Shougang Group Introduction and Business Overview
7.3.3 Shougang Group NGO Electrical Steel Sales, Revenue, Price and Gross Margin (2019-2024)
7.3.4 Shougang Group NGO Electrical Steel Product Offerings
7.3.5 Shougang Group Recent Development
7.4 Ansteel
7.4.1 Ansteel Company Information
7.4.2 Ansteel Introduction and Business Overview
7.4.3 Ansteel NGO Electrical Steel Sales, Revenue, Price and Gross Margin (2019-2024)
7.4.4 Ansteel NGO Electrical Steel Product Offerings
7.4.5 Ansteel Recent Development
7.5 TISCO
7.5.1 TISCO Company Information
7.5.2 TISCO Introduction and Business Overview
7.5.3 TISCO NGO Electrical Steel Sales, Revenue, Price and Gross Margin (2019-2024)
7.5.4 TISCO NGO Electrical Steel Product Offerings
7.5.5 TISCO Recent Development
7.6 JFE Steel
7.6.1 JFE Steel Company Information
7.6.2 JFE Steel Introduction and Business Overview
7.6.3 JFE Steel NGO Electrical Steel Sales, Revenue, Price and Gross Margin (2019-2024)
7.6.4 JFE Steel NGO Electrical Steel Product Offerings
7.6.5 JFE Steel Recent Development
7.7 Xin Steel
7.7.1 Xin Steel Company Information
7.7.2 Xin Steel Introduction and Business Overview
7.7.3 Xin Steel NGO Electrical Steel Sales, Revenue, Price and Gross Margin (2019-2024)
7.7.4 Xin Steel NGO Electrical Steel Product Offerings
7.7.5 Xin Steel Recent Development
7.8 ThyssenKrupp
7.8.1 ThyssenKrupp Company Information
7.8.2 ThyssenKrupp Introduction and Business Overview
7.8.3 ThyssenKrupp NGO Electrical Steel Sales, Revenue, Price and Gross Margin (2019-2024)
7.8.4 ThyssenKrupp NGO Electrical Steel Product Offerings
7.8.5 ThyssenKrupp Recent Development
7.9 CSC
7.9.1 CSC Company Information
7.9.2 CSC Introduction and Business Overview
7.9.3 CSC NGO Electrical Steel Sales, Revenue, Price and Gross Margin (2019-2024)
7.9.4 CSC NGO Electrical Steel Product Offerings
7.9.5 CSC Recent Development
7.10 Voestalpine
7.10.1 Voestalpine Company Information
7.10.2 Voestalpine Introduction and Business Overview
7.10.3 Voestalpine NGO Electrical Steel Sales, Revenue, Price and Gross Margin (2019-2024)
7.10.4 Voestalpine NGO Electrical Steel Product Offerings
7.10.5 Voestalpine Recent Development
7.11 Posco
7.11.1 Posco Company Information
7.11.2 Posco Introduction and Business Overview
7.11.3 Posco NGO Electrical Steel Sales, Revenue, Price and Gross Margin (2019-2024)
7.11.4 Posco NGO Electrical Steel Product Offerings
7.11.5 Posco Recent Development
7.12 AK Steel (Cleveland-Cliffs)
7.12.1 AK Steel (Cleveland-Cliffs) Company Information
7.12.2 AK Steel (Cleveland-Cliffs) Introduction and Business Overview
7.12.3 AK Steel (Cleveland-Cliffs) NGO Electrical Steel Sales, Revenue, Price and Gross Margin (2019-2024)
7.12.4 AK Steel (Cleveland-Cliffs) NGO Electrical Steel Product Offerings
7.12.5 AK Steel (Cleveland-Cliffs) Recent Development
7.13 NLMK
7.13.1 NLMK Company Information
7.13.2 NLMK Introduction and Business Overview
7.13.3 NLMK NGO Electrical Steel Sales, Revenue, Price and Gross Margin (2019-2024)
7.13.4 NLMK NGO Electrical Steel Product Offerings
7.13.5 NLMK Recent Development
7.14 ArcelorMittal
7.14.1 ArcelorMittal Company Information
7.14.2 ArcelorMittal Introduction and Business Overview
7.14.3 ArcelorMittal NGO Electrical Steel Sales, Revenue, Price and Gross Margin (2019-2024)
7.14.4 ArcelorMittal NGO Electrical Steel Product Offerings
7.14.5 ArcelorMittal Recent Development

8 Industry Chain Analysis
8.1 NGO Electrical Steel Industrial Chain
8.2 NGO Electrical Steel Upstream Analysis
8.2.1 Key Raw Materials
8.2.2 Raw Materials Key Suppliers
8.2.3 Manufacturing Cost Structure
8.3 Midstream Analysis
8.4 Downstream Analysis (Customers Analysis)
8.5 Sales Model and Sales Channels
8.5.1 NGO Electrical Steel Sales Model
8.5.2 Sales Channel
8.5.3 NGO Electrical Steel Distributors

9 Research Findings and Conclusion

10 Appendix
10.1 Research Methodology
10.1.1 Methodology/Research Approach
10.1.1.1 Research Programs/Design
10.1.1.2 Market Size Estimation
10.1.1.3 Market Breakdown and Data Triangulation
10.1.2 Data Source
10.1.2.1 Secondary Sources
10.1.2.2 Primary Sources
10.2 Author Details
10.3 Disclaimer

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