Report Overview
Grain Oriented Electrical Steel Sheet (GOES) is a specialized steel product designed for highefficiency energy transmission and electromagnetic applications. It is primarily used in transformer cores, electric motors, and generators, where its unique grain structure minimizes energy loss and enhances magnetic properties. This steel type is processed through precise rolling and annealing techniques to align its grain structure, optimizing its performance in electromagnetic applications.
Market Analysis
The global Grain Oriented Electrical Steel Sheet Market was valued at approximately US$ 7,759 million in 2024 and is projected to grow to US$ 9,643 million by 2032, exhibiting a CAGR of 3.2% during the forecast period.
Regionally, China dominates the market with an estimated growth from $3.71 billion in 2023 to $4.50 billion by 2029, at a CAGR of 3.29%.
The European market is expected to increase from $1.55 billion in 2022 to $1.67 billion by 2029, growing at a CAGR of 2.89%.
