Non Grain-oriented Electrical Steel for Electric Vehicles: Market Size, Trends, and Forecast
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Global Non Grain-oriented Electrical Steel for Electric Vehicle Market is experiencing robust expansion, currently valued at USD 1,480 million in 2024 and projected to surge to USD 3,240 million by 2032 , advancing at a CAGR of 10.30% during the forecast period (2025-2032). This remarkable trajectory is fueled by accelerating EV adoption, stringent energy efficiency regulations, and breakthroughs in motor core material science. Non grain-oriented electrical steel serves as the backbone for EV traction motors, offering superior magnetic permeability and reduced core losses compared to conventional alternatives. Its isotropic magnetic properties make it particularly valuable for rotating electrical machines, where multidirectional magnetic flux paths are essential. The material's growing importance in sustainable mobility solutions has triggered strategic investments across the supply chain. Download FREE Sample Report: https://...