North America Non-grain Oriented Electrical Steel Market - Industry Trends and Forecast to 2031

North America Non-grain Oriented Electrical Steel Market Analysis and Size

The growing demand for energy-efficient electrical devices is expected to drive the North America non-grain oriented electrical steel market growth during the forecast period. In addition, the renewable energy expansion is expected to provide an opportunity for market growth. However, raw material costs and availability and economic volatility and uncertainty are restraining the growth of the market.

Data Bridge Market Research analyses that the North America non-grain oriented electrical steel market which was USD  4,125.96 million in 2023, is expected reach to USD  6,236.66 million by 2031, and is likely to undergo a CAGR of 5.30% during the forecast period of 2024 to 2031. “Semi-Processed” segment is expected to dominate the type segment of the North America non-grain oriented electrical steel market as it offers high custom ability for electrical device manufacturers. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

 Report Scope and Market Segmentation

Market Definition

Non-grain oriented electrical steel is also known as silicon steel, core iron, lamination steel, and electrical steel. It is a special steel designed for electrical applications that demand high permeability and less hysteresis loss as a result of its magnetic properties. Electrical steel, a specialized steel, is produced to achieve specific magnetic qualities, such as low core loss, high permeability, and a small hysteresis area, resulting in minimal power loss each cycle.

North America Non-grain Oriented Electrical Steel Market Dynamics

Drivers:

• Rising Demand for Energy-efficient Power Transmission

The demand for non-grain oriented electrical steel is increasing in North America as energy efficiency and sustainability become increasingly essential. The low core losses and high magnetic permeability of this type of steel make it an excellent choice for applications requiring effective energy conversion, such as power transmission.

• Infrastructure Modernization and Grid Upgrades

The outdated electrical infrastructure in North America needs to be upgraded to increase efficiency and dependability. These projects frequently entail the installation of new transformers and electrical apparatus made of non-grain oriented electrical steel, which increases demand for this commodity.

Opportunities:

• Electrification of Transportation

The growing popularity of Electric Vehicles (EVs) creates a substantial opportunity for market growth in North America. EVs rely on efficient electric motors and generators that use non-grain oriented electrical steel to enhance power conversion and performance.

• Renewable Energy Expansion

Renewable energy sources, such as wind and solar electricity, are rapidly expanding across North America. Non-grain oriented electrical steel is critical in the construction of transformers and electrical equipment for renewable energy generation and distribution, opening up new market potential.

Restraints/Challenges:

• Raw Material Costs and Availability

Price fluctuations in raw materials used in non-grain oriented electrical steel manufacture, such as silicon and steel scrap, can have an impact on manufacturing costs. Furthermore, manufacturers may face difficulties due to limited availability or reliance on imported raw materials.

• Economic Volatility and Uncertainty

Economic volatility and uncertainty can have an impact on infrastructure and industrial project investments, which can have a direct impact on the demand for non-grain oriented electrical steel. Economic downturns or uncertain market circumstances may cause investments to be postponed or cut, limiting market growth.

This North America non-grain oriented electrical steel market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the North America non-grain oriented electrical steel market contact Data Bridge Market Research for an Analyst Brief, our team will help you make an informed market decision to achieve market growth.

Recent Development

• In March 2023, the United States Steel Corporation's new electrical steel product, InduX, began production at its Big River Steel facility in the summer of 2023, following the commissioning of its new non-grain oriented electrical steel line
• In May 2022, the Edison Electric Institute (EEI), the American Public Power Association (APPA), the National Rural Electric Cooperative Association (NRECA), and the GridWise Alliance were among the nine trade associations that urged the Biden administration to prioritize measures that support domestic electrical steel production, warning that shortages are causing "significant and persistent" supply chain challenges

North America Non-grain Oriented Electrical Steel Market Scope

The North America non-grain oriented electrical steel market is segmented on the basis of type, thickness, distribution channel, application, and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Type

• Fully Processed
• Semi-Processed

Thickness

• 0.23 MM
• 0.27 MM
• 0.30 MM
• 0.35 MM
• 0.5 MM
• 0.65 MM
• Others

Distribution Channel

• Offline
• Online

Application

• Transformers
• Inductors
• Battery
• Filters
• Motors
• Electrical Ballasts
• Power Generators
• Magnetic Bearings
• Others

End-User

• Energy and Power
• Automotive
• Household Appliances
• Building and Construction
• Aviation
• Others

North America Non-grain Oriented Electrical Steel Market Regional Analysis/Insights

The North America non-grain oriented electrical steel market is analyzed and market size insights and trends are provided by country, type, thickness, distribution channel, application, and end-user are referenced above.

The countries covered in the North America non-grain oriented electrical steel market report are U.S., Canada, and Mexico.

The U.S. is expected to dominate and a fastest growing country in the North America non-grain oriented electrical steel market due to the increasing demand for electric vehicle in the country.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impact the current and future trends of the market. Data points such as down-stream and upstream value chain analysis, technical trends, and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of North America brands and their challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs, and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and North America Non-grain Oriented Electrical Steel Market Share Analysis

The North America non-grain oriented electrical steel market competitive landscape provides details by competitors. details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, North America presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width, and breadth, application dominance. The above data points provided are only related to the companies' focus related to the North America non-grain oriented electrical steel market.

Some of the major players operating in the North America non-grain oriented electrical steel market are:

• POSCO (South Korea)
• ThyssenKrupp AG (Germany)
• Tata Steel Limited (India)
• ArcelorMittal S.A. (Luxembourg)
• Nippon Steel Corporation (Japan)
• Voestalpine AG (Austria)
• JFE Shoji Power Canada Inc. (Canada)
• Cleveland-Cliffs Inc. (U.S.)
• Aperam S.A. (Luxembourg)
• Mapes & Sprowl Steel (U.S.)
• Arnold Magnetic Technologies (U.S.)

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