Non-Grain Oriented Electrical Steel, Global Market Size Forecast, Top 14 Players Rank and Market Sha (Internet Services - Other Internet Services)
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Item ID 2572352 in Category: Internet Services - Other Internet Services
Non-Grain Oriented Electrical Steel, Global Market Size Forecast, Top 14 Players Rank and Market Sha | |
NGO Silicon 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 the new market research report “Global NGO Silicon Steel Market Report 2023-2029”, published by QYResearch, the global NGO Silicon Steel market size is projected to reach USD 19.78 billion by 2029, at a CAGR of 3.2% during the forecast period. Market Drivers: The increasing global demand for electricity, driven by population growth, industrialization, and urbanization, is a major driver for the NGOES market. As more countries invest in renewable energy sources, such as wind and solar power, the demand for NGOES-based electrical equipment like generators and inverters is expected to rise. The expansion of industries, particularly in emerging economies, is boosting the demand for electrical equipment. NGOES 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 NGOES. The rapid adoption of electric vehicles is a significant driver for the NGOES market. NGOES is used in electric motors and traction motors in EVs. With the global push for decarbonization and the increasing demand for electric vehicles, the NGOES market is expected to experience substantial growth. Opportunity: The NGOES market was experiencing steady growth due to the rising demand for electrical steel in various industries, including energy, automotive, and appliances. The increasing need for electricity, coupled with infrastructure development and the expansion of renewable energy sources, was driving the demand for NGOES. The electrification of automobiles is accelerating amid the global push toward carbon neutrality. The demand for high-grade non-oriented electrical steel sheet products used in the drive motors of electric vehicles is expected to continue expanding in parallel with the further tightening of global environmental regulations. In response, almost all manufacturers has decided to further expand its production capacity to accommodate this rising demand. Continuous research and development efforts were focused on improving the magnetic properties and efficiency of NGOES. QYResearch founded in California, USA in 2007.It is a leading global market research and consulting company. With over 16 years’ experience and professional research team in various cities over the world QY Research focuses on management consulting, database and seminar services, IPO consulting, industry chain research and customized research to help our clients in providing non-linear revenue model and make them successful. We are globally recognized for our expansive portfolio of services, good corporate citizenship, and our strong commitment to sustainability. Up to now, we have cooperated with more than 60,000 clients across five continents. Let’s work closely with you and build a bold and better future.  | |
| Target State: All States Target City : All Cities Last Update : Mar 19, 2024 11:12 PM Number of Views: 11 | Item Owner : Joyce Contact Email: Contact Phone: 13051817187 |
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2024-05-07 (0.398 sec)