Non Grain-oriented Electrical Steel for Electric Vehicle Market was valued at USD 2.5 Billion in 2022 and is projected to reach USD 5.2 Billion by 2030, growing at a CAGR of 10.5% from 2024 to 2030.
The global electric vehicle market is rapidly expanding, driven by increased demand for sustainable transportation solutions and advancements in electric mobility technology. One of the key materials that plays a vital role in the production of electric vehicles (EVs) is Non Grain-Oriented Electrical Steel (NGOES). This material is used primarily in electric motor applications within EVs, and its high efficiency, low core losses, and excellent magnetic properties make it indispensable. Non Grain-Oriented Electrical Steel for Electric Vehicle Market By Application highlights its significance in different segments, notably Battery Electric Vehicles (BEVs) and Hybrid Electric Vehicles (HEVs). These segments are integral to the growth and development of the EV industry, as NGOES contributes to the efficiency and performance of electric drivetrains, making them more reliable and energy-efficient.
Download Full PDF Sample Copy of Global Non Grain-oriented Electrical Steel for Electric Vehicle Report @ https://www.verifiedmarketreports.com/download-sample/?rid=396848&utm_source=Google_site&utm_medium=227
Battery Electric Vehicles (BEVs) are fully electric cars that rely solely on electric energy stored in onboard batteries. In BEVs, Non Grain-Oriented Electrical Steel plays a critical role in the electric motor, which is responsible for converting electrical energy into mechanical energy to propel the vehicle. The high-performance NGOES material in the electric motor core ensures minimal energy losses, thereby increasing the efficiency of the entire drivetrain system. This results in longer driving ranges, better power output, and overall improved energy utilization, which are essential for the success of BEVs in the competitive automotive market. As the global push toward clean energy continues to grow, the demand for NGOES in BEVs is expected to rise significantly in the coming years. Additionally, with the increasing number of BEV models introduced by automakers worldwide, the market for Non Grain-Oriented Electrical Steel in BEVs is expected to experience robust growth, driven by technological advancements in motor designs and powertrain integration.
Hybrid Electric Vehicles (HEVs) combine a traditional internal combustion engine with an electric motor and battery system, offering a more fuel-efficient alternative to conventional vehicles. In the case of HEVs, Non Grain-Oriented Electrical Steel is utilized in the electric motor and powertrain components to optimize performance. The material's superior magnetic properties and low iron losses contribute to enhanced motor efficiency, enabling the hybrid system to deliver optimal power for both electric and fuel-based driving modes. NGOES allows HEVs to maximize energy recovery from braking (regenerative braking) and enhance the efficiency of the electric drive motor. As hybrid vehicles gain popularity due to their reduced emissions and improved fuel economy, the adoption of NGOES in HEVs is poised to grow significantly. Furthermore, as automakers seek to refine motor designs for improved performance and energy efficiency, the demand for high-quality Non Grain-Oriented Electrical Steel is likely to surge in this segment, creating new opportunities for manufacturers and suppliers in the market.
One of the major trends in the Non Grain-Oriented Electrical Steel for Electric Vehicle market is the increasing demand for more energy-efficient materials. As electric vehicles become more mainstream, automakers are striving to improve the overall efficiency of electric motors, reducing energy losses and improving driving range. This trend has led to heightened demand for Non Grain-Oriented Electrical Steel, known for its low core losses and high performance in electric motor applications. Additionally, there is a strong focus on improving the magnetic properties of NGOES, which can further enhance the power density of motors used in BEVs and HEVs. Manufacturers are investing heavily in research and development to create more efficient versions of NGOES that meet the evolving requirements of the electric vehicle market.
The Non Grain-Oriented Electrical Steel market offers numerous opportunities for growth, particularly in the electric vehicle sector. As the demand for electric and hybrid vehicles continues to increase, the need for high-quality materials like NGOES will expand. In addition, the rapid advancements in motor technology present opportunities for steel manufacturers to introduce innovative products that meet the changing needs of automakers. Furthermore, as the global shift toward renewable energy accelerates, there is an increased focus on reducing carbon emissions from vehicles, creating an attractive opportunity for the adoption of high-performance materials like NGOES in electric motors. The ability of NGOES to contribute to energy efficiency and environmental sustainability makes it a key player in the future of electric mobility.
1. What is Non Grain-Oriented Electrical Steel (NGOES)?
NGOES is a type of electrical steel with uniform magnetic properties in all directions, commonly used in electric motors for vehicles due to its efficiency and low core losses.
2. How does NGOES benefit electric vehicles?
NGOES improves the efficiency of electric motors, leading to better power output, extended driving range, and reduced energy losses in electric vehicles.
3. What are Battery Electric Vehicles (BEVs)?
Battery Electric Vehicles (BEVs) are fully electric cars powered by energy stored in batteries, without the need for a gasoline engine or hybrid powertrain.
4. How does NGOES impact Hybrid Electric Vehicles (HEVs)?
In HEVs, NGOES enhances the efficiency of the electric motor and powertrain system, allowing for better fuel economy and more effective regenerative braking.
5. Why is NGOES important for the electric motor in vehicles?
NGOES is crucial for minimizing energy loss in the motor core, improving the motor’s efficiency, and enhancing the performance of electric drivetrains in vehicles.
6. What are the key advantages of using NGOES in electric vehicles?
NGOES offers high efficiency, reduced core losses, superior magnetic properties, and increased power density, all of which contribute to improved electric vehicle performance.
7. How does NGOES compare to Grain-Oriented Electrical Steel (GOES)?
NGOES is isotropic and provides consistent magnetic properties in all directions, while GOES is anisotropic and optimized for specific magnetic directions.
8. What are the market drivers for NGOES in electric vehicles?
Increasing adoption of electric and hybrid vehicles, technological advancements in motor designs, and the global push for sustainability drive the demand for NGOES.
9. What challenges does the NGOES market face?
The NGOES market faces challenges such as the high cost of production and the need for continuous innovation to meet the demands of next-generation electric vehicle powertrains.
10. What are the future trends for NGOES in the electric vehicle market?
Future trends include greater demand for energy-efficient materials, improvements in motor technology, and innovations in NGOES to support high-performance electric vehicle systems.
Download Full PDF Sample Copy of Global Non Grain-oriented Electrical Steel for Electric Vehicle Report @ https://www.verifiedmarketreports.com/download-sample/?rid=396848&utm_source=Google_site&utm_medium=227
ThyssenKrupp
Shougang
Voestalpine
TATA Steel
ArcelorMittal
CSC
TISCO
Posco
Nippon Steel
Baowu
Ansteel
Benxi Steel
JFE Steel
AK Steel
NLMK Group
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
Get Discount On The Purchase Of This Report @ https://www.verifiedmarketreports.com/ask-for-discount/?rid=396848&utm_source=Google_site&utm_medium=227
Growing demand for below applications around the world has had a direct impact on the growth of the Global Non Grain-oriented Electrical Steel for Electric Vehicle Market
Battery Electric Vehicle
Hybrid Electric Vehicle
Based on Types the Market is categorized into Below types that held the largest Non Grain-oriented Electrical Steel for Electric Vehicle market share In 2023.
Medium and Low Grade
High Grade
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
For More Information or Query, Visit @ https://www.verifiedmarketreports.com/product/non-grain-oriented-electrical-steel-for-electric-vehicle-market/
1. Introduction of the Global Non Grain-oriented Electrical Steel for Electric Vehicle Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Non Grain-oriented Electrical Steel for Electric Vehicle Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Non Grain-oriented Electrical Steel for Electric Vehicle Market, By Type
6. Global Non Grain-oriented Electrical Steel for Electric Vehicle Market, By Application
7. Global Non Grain-oriented Electrical Steel for Electric Vehicle Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Non Grain-oriented Electrical Steel for Electric Vehicle Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
About Us: Verified Market Reports
Verified Market Reports is a leading Global Research and Consulting firm servicing over 5000+ global clients. We provide advanced analytical research solutions while offering information-enriched research studies. We also offer insights into strategic and growth analyses and data necessary to achieve corporate goals and critical revenue decisions.
Our 250 Analysts and SMEs offer a high level of expertise in data collection and governance using industrial techniques to collect and analyze data on more than 25,000 high-impact and niche markets. Our analysts are trained to combine modern data collection techniques, superior research methodology, expertise, and years of collective experience to produce informative and accurate research.
Contact us:
Mr. Edwyne Fernandes
US: +1 (650)-781-4080
US Toll-Free: +1 (800)-782-1768
Website: https://www.verifiedmarketreports.com/