Global Market
Insights, Inc. has launched a report on High Magnetic Induction Grain-oriented
Silicon Steel Market that elucidates an in-depth synopsis of this business
vertical over the forecast period. The report is inclusive of the prominent
industry drivers and provides an accurate analysis of the key growth trends and
market outlook in the years to come in addition to the competitive hierarchy of
this sphere.
High Magnetic
Induction Grain-oriented Silicon Steel Market size will experience significant
growth in Asia Pacific owing to propelling demand from power industry in the
forecast period. It is a type of grain-oriented silicon steel alloys which
possess high permeability. Grain-oriented silicon steel alloys are generally
known as electrical steel. It has a symmetrical structure where cubic crystals
are cumulatively arranged in the direction of rolled steel plate. It is made by
a chain of annealing and rolling treatments.
The product has
wider scope to grow as a suitable material for electric vehicle industry. The
swift venture of the automotive sector into electrical vehicles (EV) market is
additionally producing ever-growing demands on manufacturing and infrastructure
that electrical steels can potentially fulfill in the coming years. The product
is expected to lower the losses of electric vehicles, which will aid in making
efficient electric vehicle with minimum electrical losses.
Power
transmission industry will chiefly drive the high magnetic induction
grain-oriented silicon steel market size in the coming years. The region is
witnessing fastest industrial growth till date, which has resulted in high
electricity demand in the past few years. According to the World Bank, the
number of emerging economies in Asia Pacific including India, Vietnam,
Indonesia, Thailand, Cambodia Myanmar, etc. have an undeveloped power sector
with low access rates and low quality of supply, as per capita electricity
consumption rate.
Browse Complete
Summary of this report @ https://www.gminsights.com/industry-analysis/high-magnetic-induction-grain-oriented-silicon-steel-market
The main
application of the product is in power industry. In the form of, wound, punched
or laminated sheets, it is an essential core material of distribution, power
and small transformers. some of the main transformers where the product is
largely used are large power transformers, small transformers, distribution
transformers, current transformers, power generators, wound cores, and shunt
reactors.
Asia Pacific is
likely to contribute significantly to the overall high magnetic induction
grain-oriented silicon steel market growth in the forecast timeframe. India and
China lead the region in both manufacturing and consumption of product.
According to a 2014, Asia Development Bank report, the energy need of Asia
Pacific is expected to increase over 70% between 2010 and 2035, with China’s
share accounting for 38% while India’s share to be over 13%. The rest of Asia
Pacific is expected to account for 64%. North America and Europe have a
satisfactory electricity access, thus will show moderate gains to the overall
high magnetic induction grain-oriented silicon steel market size by 2025.
The companies
functioning in high magnetic induction grain-oriented silicon steel market are
Thyssenkrupp, Arnold Magnetic Technologies Corp., Cogent power, AK Steel Intl.,
Posco, Cogent Power Limited, JFE Steel Corporation, Baosteel. and Nippon
Steel&Sumitomo Metal. In 2018, Thyssenkrupp announced that it was starting
the production of grain oriented electrical steel (CRGO) at its Nashik plant in
India.
About Global Market Insights,
Inc.
Global Market Insights, Inc.,
headquartered in Delaware, U.S., is a global market research and consulting
service provider; offering syndicated and custom research reports along with
growth consulting services. Our business intelligence and industry research
reports offer clients with penetrative insights and actionable market data
specially designed and presented to aid strategic decision making. These
exhaustive reports are designed via a proprietary research methodology and are
available for key industries such as chemicals, advanced materials, technology,
renewable energy and biotechnology.
Contact Us
Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1 888-689-0688
Email: sales@gminsights.com
Web: https://www.gminsights.com
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Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1 888-689-0688
Email: sales@gminsights.com
Web: https://www.gminsights.com
Connect with us twitter | LinkedIn | Facebook | Google+
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