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(IT-NEWSWIRE.COM, October 16, 2019 ) Increasing consumption Hybrid Electric Vehicles (HEVs) in the world is one of the primary drivers of the global NGO electrical steel market. NGO electric steel is primarily used in high-speed electric motors and high-frequency transformers. It is also used in traction motor of HEVs. HEVs are a rising trend in the Automotive Industry. Global HEVs production has reached 1.2 million units in 2015 and is expected to reach 5.4 million units by 2025. The rise in HEV sales is mainly due to increasing environmental regulations across the world. Thus, the demand for HEVs will drive the market for NGO electrical steel.
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Technical developments and Lower Manufacturing Cost
Non-grain oriented (NGO) electrical steel has a silicon level of 2 to 3.5% and offers uniform magnetic characteristics in rolling and other direction and is commonly used in rotary machines such as electric motors, large transformers, and small electric precision motors. NGO electrical steel is cheaper to produce than compared to grain-oriented electrical steel products. This is mainly due to absence of special processing to control grain orientation in the electrical sheet, which is mandatory in the grain-oriented electrical steel.
Cold roll non-grain oriented electrical steel (CRNGO) is cheaper to produce compared to Cold roll grain-oriented electrical steel. Thus CRNGO and NGO are most preferred electrical steel when price is a major concern, direction of magnetic flux is not constant, and performance is the least concern. Most of the small transformer manufacturers and electric motor and generator manufacturers utilize CRNGO electrical steel as it reduces the cost.
Increasing technological developments such as non-grain oriented steel with lower thickness from 0.1 mm and grain size over from 0.01 mm that offers greater performance in magnetic flux that generates improved torque, will further drive the growth of non-grain oriented electrical steel market over the forecast period to 2026.
Asia-Pacific to Grow at the Highest Rate in Diesel Generator Market
Geographically, the global diesel generator market has been segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
The growth in the industry is mainly due to rapid industrialization and growing middle-class population and spending power that lead to increased investment in advanced consumer electronics, more power generation, and increased sales of electric vehicles in this region. The growth is mainly supported by developing economies, such as India, China, and Japan. The growth in the sales of electric vehicles is the major factor attributing to the growth of the non-grain oriented electrical steel market. Around 40% of the global electric car fleet is in China, where the number of electric cars on the road surpassed 1 million in 2017. Owing to these factors, the Asia Pacific Non-Grain Oriented Electrical Steel Market is anticipated to grow at a healthy rate in the future.
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Similarly, North America Non-Grain Oriented Electrical Steel Market is also anticipated to exhibit positive growth owing to the rising automobile sales and electric vehicle sales in North America. Non-Grain Oriented Electrical Steel is majorly used in high-speed electric motors and high-frequency transformers. It is also used in traction motor of hybrid electric vehicles. According to the International Energy Agency, the sales of new electric cars in the US increased from 113.87 thousand units in 2015 to 159.62 thousand units in 2016 finally reaching 198.35 thousand units in 2017. The increasing sales of electric vehicles in the United States is the major factor propelling the North American Non-Grain Oriented Electrical Steel Market.
Market Players
The Global Non-Grain Oriented Electrical Steel market report profiles the following companies-ArcelorMittal S.A., Baosteel Group Corporation, Pohang Iron and Steel Company (POSCO), Nippon Steel & Sumimoto Metal Corporation(NSSMC), JFE Holdings Inc., Jiangsu Shagang Group, Tata Steel, The United States Steel Corporation (US Steel), Angang Steel Co. Ltd. and Gerdau.
• ArcelorMittal, Baosteel, and NSSMC are critical players in the market and holds the maximum share in the market.
• ArcelorMittal operates in more than 60 countries, having the largest market in Europe. It was the largest producer of electrical steel in the world in 2017.
• Baosteel Group, a group based in China exports its products to more than 40 countries and is one of the largest producers of electrical steel.
• NSSMC provides iron for areas such as construction, automobiles, civil engineering, energy, resources and operates in 15 countries currently.
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