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 Non Grain-oriented Electrical Steel market for electric vehicles was valued at approximately USD 2.1 billion in 2022. It is projected to expand at a compound annual growth rate (CAGR) of 7.5% from 2023 to 2028. This growth is driven by the increasing adoption of electric vehicles and the rising demand for energy-efficient components within the automotive sector. The market's expansion reflects the ultimate shift towards greener technologies and advanced materials designed to enhance electric vehicle performance and efficiency.
Opportunity analysis reveals significant potential in emerging markets such as Asia-Pacific, where rapid industrialization and supportive government policies are fostering growth. These regions are witnessing heightened investments in electric vehicle infrastructure, thereby driving demand for Non Grain-oriented Electrical Steel. Additionally, advancements in manufacturing techniques and innovations in steel production are expected to open new avenues for market players, offering lucrative prospects for stakeholders looking to capitalize on this evolving sector.
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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.
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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)
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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
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