The worldwide market for non grain-oriented electrical steel is expected to grow at a CAGR of roughly 5.5 % over the next five years and will reach $23.4 B in 2024, from $17 B in 2019, according to a new Global Info Research study.
Non-grain oriented electrical steel is widely used in power generation, AC motor, household appliances and other fields.
China is the largest consumer, with a consumption market share at nearly 39 % in 2017. Europe is the second largest consumption market with the 23.4 % market share.
Key players in non grain-oriented electrical steel market are: Baowu, ArcelorMittal, TISCO, JFE Steel, Shougang Group, NSSMC, NLMK, Ansteel, AK Steel, Thyssen Krupp, Voestalpine, Masteel, Posco, TATA Steel, BX Steel, Nucor, CSC
The regions and countries covered in this report are India, China, USA, UK, Japan, Latin America, Europe, Asia Pacific, North America, and Middle East & Africa.
Source: Spekaing Times