U.S. Grain Oriented Electrical Steel (GOES) Market 2025 to Grow at 5.6 CAGR with 896.9 USD Million Market Size: Analysis and Forecasts 2033

Key Insights

The U.S. Grain Oriented Electrical Steel (GOES) Marketsize was valued at USD 896.9 USD Million in 2023 and is projected to reach USD 1313.38 USD Million by 2032, exhibiting a CAGR of 5.6 % during the forecast period. Grain Oriented Electrical Steel (GOES) is a specialized type of electrical steel optimized for high magnetic permeability and low core loss in the direction of rolling. It is primarily used in the cores of transformers and large electric machines, where efficient magnetic flux conduction is critical. GOES is classified into two main types: conventional grain-oriented (CGO) and high permeability grain-oriented (HGO). Key features of GOES include its reduced hysteresis loss, high saturation magnetization, and excellent magnetic properties along the rolling direction. These characteristics make GOES indispensable in power transformers, distribution transformers, and certain magnetic amplifiers, contributing to the overall efficiency and performance of electrical power systems.

U.S. Grain Oriented Electrical Steel (GOES) Trends

• Increasing adoption of energy-efficient appliances and equipment
• Rising investment in renewable energy generation and transmission infrastructure
• Growing demand for electric vehicles and related components

Driving Forces: What's Propelling the U.S. Grain Oriented Electrical Steel (GOES) Market

• Government incentives and regulations promoting energy efficiency
• Technological advancements leading to improved performance and cost-effectiveness
• Expansion of the power generation and distribution sector

Challenges and Restraints in U.S. Grain Oriented Electrical Steel (GOES) Market

• Fluctuating Raw Material Prices: The price of silicon steel, a primary raw material used in the production of GOES, is subject to market volatility, affecting manufacturers' profitability and stability.
• Competition from Alternative Materials: Amorphous metals and soft magnetic composites offer competitive properties to GOES, potentially reducing market share in certain applications.
• Limited Skilled Labor: The production and processing of GOES require specialized skills, creating a challenge to find and retain qualified workers.

Emerging Trends in U.S. Grain Oriented Electrical Steel (GOES)

• Development of new high-strength and high-permeability alloys
• Adoption of advanced manufacturing techniques to reduce production costs
• Increased focus on sustainability and environmental compliance

Growth Catalysts in U.S. Grain Oriented Electrical Steel (GOES) Industry

• Accelerated EV Adoption: The rapid proliferation of electric vehicles and plug-in hybrid electric vehicles drives increased demand for GOES in high-efficiency electric motors and generators.
• Sustained Infrastructure Modernization: Ongoing investments in grid infrastructure upgrades and the construction of renewable energy projects create a robust market for GOES in power transmission and distribution networks.
• Government Policy Support: Federal and state government incentives and regulations aimed at reducing energy consumption and promoting clean energy technologies create favorable conditions for GOES adoption.
• Ongoing Technological Innovation: Continuous advancements in materials science and manufacturing processes lead to improved GOES performance, enabling higher energy efficiency and lower energy losses.

Market Segmentation: U.S. Grain Oriented Electrical Steel (GOES) Analysis

Product Type:

• Conventional
• High Magnetic Strength
• Domain Refinement

Thickness:

• 0.2 mm and Below
• 0.23 mm
• 0.27 mm
• 0.30 mm
• 0.35 mm and Above

Application:

• Transformer
• Power Generator
• Electric Motor
• Others

Leading Players in the U.S. Grain-Oriented Electrical Steel (GOES) Market

• Cleveland-Cliffs Inc.
• Arnold Magnetic Technologies
• VIZ-Steel
• ArcelorMittal
• POSCO
• Baosteel Group Corporation
• Nippon Steel Corporation
• JFE Steel Corporation
• ThyssenKrupp Steel

Significant developments in the U.S. Grain Oriented Electrical Steel (GOES) Sector

• December 2019: Cleveland-Cliffs Inc. acquired AK Steel to be self-sufficient in iron ore pellets and geared toward high-value-added steel products. AK Steel engages in the production of automotive steel, electrical steel, and flat-rolled carbon stainless products. Cleveland-Cliffs Inc. expects growth post-acquisition due to the contracted nature of AK Steel’s sales of high-end automotive steel.

Comprehensive Coverage U.S. Grain-Oriented Electrical Steel (GOES) Market Report

• Market Overview and Dynamics
• Porter's Five Forces Analysis
• PEST Analysis
• Value Chain Analysis
• Competitive Landscape
• Market Segmentation Analysis
• Industry Developments and Trends
• Drivers and Challenges
• Growth Opportunities
• Forecast and Projections

Regional Insight

• North America: Expected to maintain its dominant market share due to strong demand from the automotive and power generation sectors.
• Europe: Stringent environmental regulations and a push towards renewable energy sources drive growth in the GOES market.
• Asia Pacific: Rapid urbanization, industrialization, and growing energy consumption contribute to the region's significant market potential.
• South America: Increasing infrastructure investments and government initiatives aimed at energy efficiency support market expansion.
• Middle East & Africa: Growing population, urbanization, and government modernization programs present opportunities for GOES adoption.

Consumer Side Analysis

• End-use industry analysis
• Consumption patterns and trends
• Consumer demographics and behavior

Demand Side Analysis

• Market size and growth projections
• Market drivers and restraints
• Competitive analysis

Import And Export Analysis

• Trade data and analysis
• Major import and export countries
• Tariffs and regulations