From GlobeNewswire: 2025-02-07 10:00:00

The Non-Grain Oriented Electrical Steel Market was valued at $17.91 billion in 2023, projected to reach $27.92 billion by 2032 with a 5.06% CAGR. Demand is driven by transformers, motors, and generators due to superior magnetic properties. Key players include Tata Steel, Nucor Corporation, and Nippon Steel Corporation.

The market growth is fueled by the rising demand for electrical systems, renewable energy sources, and power transmission infrastructure. Major regions for market share include Asia Pacific, with China, Japan, and South Korea as prominent producers and consumers of electrical steel. Innovations in manufacturing technologies are driving growth.

In 2024, Tata Steel announced an expansion of production capacity for non-grain oriented electrical steel to meet demand from renewable energy and power transmission sectors. POSCO introduced high-efficiency non-grain oriented electrical steel for electric motors and transformers in renewable energy applications. The market is segmented by thickness, type, and application.

Semi-processed non-grain oriented electrical steel holds a 62% market share due to efficiency and cost balance. Power Generation sector holds 42% market share due to high permeability and low core loss. The report includes market size, competitive landscape, and regional analysis. Customization options are available for the report. 1. The stock market reached new record highs today, with the S&P 500 closing at 3,800 points. This marks a significant milestone for investors, as the market continues to rebound from the effects of the pandemic.

2. In other news, the unemployment rate has dropped to 6.7% as more people return to work. This is a positive sign for the economy, as businesses continue to reopen and hire new employees.

3. On the international front, tensions are rising between the US and Iran as Iran announces plans to enrich uranium to 20% purity. This move has sparked concerns about the potential for further conflict in the region.

4. In technology news, Apple has announced plans to release a new line of iPhones with improved camera technology and 5G capabilities. This has generated excitement among consumers, who are eager to see the latest innovations from the tech giant.

5. Lastly, the COVID-19 vaccine rollout continues to progress, with over 10 million doses administered in the US. This is a promising development in the fight against the virus, as more people receive protection and the country moves closer to achieving herd immunity.



Read more at GlobeNewswire: Non-Grain Oriented Electrical Steel Market to Reach USD