Global Cold Rolled Non-Oriented (CRNO) Steel lamination Market was valued at US $ 28.6 Billion in 2022 and is expected to reach US $ 42.9 Billion by 2030 growing at a CAGR of 5.2% during the forecast period 2023 – 2030.
The Cold Rolled Non-Oriented (CRNO) Steel Lamination Market is the global hub for a specialized steel material manufactured through a unique cold rolling and annealing process, which imparts specific electrical and magnetic characteristics. These laminations are crucial components in electrical equipment, serving a multitude of industries and applications worldwide. The market encompasses both grain-oriented and non-grain-oriented CRNO steel laminations, providing diverse solutions for energy and power infrastructure, automotive manufacturing, industrial machinery, consumer appliances, and the electronics sector. The market's global reach extends across various regions, reflecting its integral role in optimizing energy efficiency and supporting sustainable practices. CRNO steel laminations are prized for their durability, making them well-suited for deployment in challenging environments, including power plants, factories, and industrial settings. In essence, the CRNO Steel Lamination Market is a dynamic and versatile industry that plays a pivotal role in enhancing the performance and energy efficiency of electrical equipment across a wide spectrum of end-use industries.
Some of the benefits of designing a Cold Rolled Non-Oriented (CRNO) Steel lamination Market include:
COVID -19 Impact
The Cold Rolled Non-Oriented (CRNO) Steel Lamination Market experienced significant disruptions due to the COVID-19 pandemic. Supply chains were severely impacted by lockdowns and manufacturing facility closures, leading to delays in production and distribution. Sectors that heavily rely on CRNO steel laminations, such as automotive and construction, saw reduced demand as economic uncertainty prevailed. Production halts and market uncertainty affected the industry's growth prospects.
However, the pandemic also catalyzed changes in the market. Manufacturers recognized the need for more resilient supply chains and began diversifying sourcing strategies to ensure continuity in the face of future disruptions. As economies gradually recover and adapt to new norms, sectors like energy and power infrastructure, renewable energy, and electric vehicles are driving the resurgence of the CRNO steel lamination market. The industry is displaying resilience as it rebounds and embraces evolving market dynamics in the post-pandemic era.
Factors Driving the Market
Drivers
Growing demand for energy and power
The market growth of the Cold Rolled Non-Oriented (CRNO) Steel Lamination Market is significantly propelled by the surging demand for energy and power across various sectors. This growing demand is driven by the need to expand and modernize energy infrastructure, including power generation, transmission, and distribution. CRNO steel laminations, essential components in transformers, generators, and motors, play a pivotal role in enhancing the efficiency and reliability of these critical electrical systems. Furthermore, the global transition to renewable energy sources, such as wind and solar power, relies on the deployment of efficient electrical equipment. CRNO steel laminations optimize the performance of transformers and generators in renewable energy systems, aligning with the industry's sustainable energy goals.
The modernization of electrical grids, including the development of smart grids, is another key driver. CRNO steel laminations ensure efficient energy transmission and minimize power losses, supporting the upgrade of energy infrastructure and enhancing grid reliability. The rise of electric vehicles (EVs) is also a major contributor to the increased demand for CRNO steel laminations. These laminations are integral components in the motors and inverters of EVs, making them essential for the continued growth of the EV market.
Additionally, urbanization and population growth result in concentrated power consumption in urban areas, necessitating the development of efficient power infrastructure. CRNO steel laminations, with their durability and heat-resistant properties, are vital for this purpose, particularly in regions experiencing rapid urbanization.
The focus on energy efficiency, driven by government regulations and industry standards, further bolsters the demand for CRNO steel laminations. These laminations are well-aligned with energy efficiency requirements, making them a preferred choice for manufacturers looking to meet these standards. Ongoing technological advancements in CRNO steel laminations, which result in reduced core losses and improved magnetic characteristics, enhance their appeal to the energy and power industry. As a result, the growing demand for energy and power across various sectors positions CRNO steel laminations as indispensable components in the evolving energy landscape, driving the overall market growth.
Challenges
Competition from other materials
Competition from alternative materials exerts a significant influence on the Cold Rolled Non-Oriented (CRNO) Steel Lamination Market. The availability of substitute materials, such as amorphous metals and silicon steel, introduces choices for manufacturers seeking specific characteristics in their electrical components. These materials can be customized to meet precise requirements, making them attractive for specialized applications. Cost-effectiveness is another key factor, as competitive materials that offer comparable or superior performance at a lower cost can sway purchasing decisions, especially in industries with budget constraints. Environmental considerations play a growing role in material selection, with materials aligned with sustainability and environmental standards gaining prominence. If competing materials provide superior eco-friendly attributes, they can impact the adoption of CRNO steel laminations.
Continual advancements in material science lead to the discovery of new materials with enhanced properties, challenging the dominance of CRNO steel laminations. Product innovation, as well as adherence to evolving industry regulations and standards, can tilt the scales in favor of competing materials.
The availability and reliability of suppliers for these alternatives also play a crucial role. Widespread and dependable suppliers for competing materials can sway manufacturers' decisions in favor of these alternatives. In response, CRNO steel lamination manufacturers must focus on innovation, cost optimization, sustainability efforts, and niche market opportunities to maintain their market presence. Demonstrating the unique advantages of CRNO steel laminations, such as performance, reliability, and energy efficiency, remains essential to counteract the impact of competition from other materials.
Trends
Growing demand from emerging markets
The growth of the Cold Rolled Non-Oriented (CRNO) Steel Lamination Market is significantly bolstered by the burgeoning demand emanating from emerging markets. These dynamic economies are characterized by rapid industrialization, infrastructure development, and urbanization, necessitating the deployment of efficient electrical equipment like power transformers, generators, and motors. CRNO steel laminations play a pivotal role in enhancing the performance and energy efficiency of these devices, making them an indispensable component of the evolving energy landscape in emerging markets. Moreover, the surge in urbanization leads to concentrated power consumption in urban areas, driving the need for robust and efficient power distribution and transmission systems, where CRNO steel laminations play a central role. The growing populations in these regions result in increased energy demands, spurring the construction of power generation, transmission, and distribution facilities, further intensifying the demand for CRNO steel laminations.
The burgeoning middle-class populations in emerging markets drive the automotive industry's growth, increasing the demand for electric vehicles (EVs). CRNO steel laminations, employed in EV components like motors and generators, are vital for optimizing performance and energy efficiency. This upswing in automotive production in emerging markets contributes significantly to the demand for CRNO steel laminations. Consumer electronics and appliances also experience heightened demand due to improved living standards in emerging markets. These products often integrate motors and generators that utilize CRNO steel laminations to enhance energy efficiency, further propelling the need for CRNO steel laminations.
Additionally, government initiatives in many emerging markets promote infrastructure development and energy efficiency, driving the adoption of advanced electrical equipment, including CRNO steel laminations, to meet modern standards and sustainability objectives. In essence, the increasing demand from emerging markets, driven by their industrialization, urbanization, infrastructure development, automotive industry growth, consumer electronics expansion, and government-backed initiatives, positions CRNO steel laminations as a fundamental element in the modernization and energy evolution of these dynamic economies.
Market Segmentation
By Product Type
By Product Type, the global Cold Rolled Non-Oriented (CRNO) Steel lamination Market is divided into Grain-oriented CRNO steel lamination, Non-grain oriented CRNO steel lamination.
Non-grain oriented CRNO steel lamination emerges as the primary and swiftest-growing product type within the Cold Rolled Non-Oriented (CRNO) Steel Lamination Market. The production of non-grain oriented CRNO steel laminations involves the cold rolling of steel sheets, followed by annealing to eliminate residual stresses and attain the desired magnetic characteristics. These laminations exhibit consistent magnetic properties in all directions, rendering them well-suited for a diverse array of applications. In the Energy & Power sector, non-grain oriented CRNO steel laminations are deployed in various electrical equipment, including power transformers, motors, and generators. The surge in global energy demand propels the requirement for such equipment, thereby stimulating the demand for non-grain oriented CRNO steel laminations within this industry.
The Automotive sector also relies on non-grain oriented CRNO steel laminations, utilizing them in multiple electrical components within vehicles, including motors, generators, and starters. With the escalating demand for electric vehicles, the usage of non-grain oriented CRNO steel laminations in the Automotive industry is expected to witness significant growth in the forthcoming years.
By Application
By Application, the global Cold Rolled Non-Oriented (CRNO) Steel lamination Market is divided into Power & distribution transformers, Motors, Inductors, Other applications (e.g., generators, appliances, etc.).
The primary application in the Cold Rolled Non-Oriented (CRNO) Steel Lamination Market is power and distribution transformers. CRNO steel laminations find utilization in transformer cores to mitigate eddy current losses and enhance magnetic permeability. These transformers play a pivotal role across various sectors, including power generation, transmission, and distribution. The global surge in energy demand propels the need for power and distribution transformers, subsequently boosting the demand for CRNO steel laminations in this domain. Simultaneously, the fastest-growing application is motors, where CRNO steel laminations are deployed in motor cores to heighten efficiency and reduce noise. The escalating demand for electric vehicles and energy-efficient appliances is fueling the need for motors, thereby increasing the demand for CRNO steel laminations within this application. CRNO steel laminations also find relevance in other applications, such as inductors, generators, and appliances, all of which are poised for growth in the forthcoming years.
By End-user Industries
By End-Use Industries the Cold Rolled Non-Oriented (CRNO) Steel lamination Market is divided by Energy & power, Automotive, Manufacturing, Home appliances, Other industries (e.g., construction, aerospace, etc.)
The Energy and Power sector has established itself as the foremost and fastest-growing end-use industry within the Cold Rolled Non-Oriented (CRNO) Steel Lamination Market, propelled by a range of compelling factors. Chief among these is the sector's unwavering commitment to energy efficiency, where CRNO steel laminations shine with their low energy loss properties. These laminations are the preferred choice for critical electrical components like transformers, generators, and motors, aligning perfectly with the industry's goal of optimizing energy consumption and reducing waste. Furthermore, the widespread adoption of renewable energy sources, including wind and solar power, necessitates highly efficient electrical equipment. CRNO steel laminations are pivotal in enhancing the performance of transformers and generators in renewable energy systems, supporting the industry's transition to sustainable energy solutions. The drive toward modernizing power distribution systems and electrical grids, including the deployment of smart grids, relies on CRNO steel laminations to ensure efficient energy transmission and reduce power losses. This aligns with the industry's imperative to upgrade infrastructure and enhance grid reliability.
By Region
By region, the global Cold Rolled Non-Oriented (CRNO) Steel lamination Market is divided into North America, Europe, APAC and Others. Others is further divided into Middle East, Africa and South America.
The Cold Rolled Non-Oriented (CRNO) Steel Lamination Market sees its pinnacle and most rapid expansion in the Asia-Pacific region. In 2022, the Asia-Pacific region held a dominant share of more than 62% in the global CRNO steel lamination market, with a projected Compound Annual Growth Rate (CAGR) exceeding 6.3% throughout the forecast period of 2023 to 2030. Several factors converge to propel the growth of the CRNO steel lamination market in the Asia-Pacific region. The burgeoning industrialization and infrastructure development, particularly in nations like China and India, create a substantial demand for CRNO steel laminations. These laminations are indispensable in applications ranging from transformers to generators and motors, optimizing their energy efficiency. The manufacturing sector in APAC is experiencing a notable upswing, encompassing the production of electrical equipment, consumer appliances, and automotive components. CRNO steel laminations play a pivotal role in enhancing the efficiency of manufacturing processes and meeting the region's heightened demand for energy-efficient products.
Competitive Landscape
The global Cold Rolled Non-Oriented (CRNO) Steel lamination Market is consolidated with the presence of few major players contributing to the market revenue. This dominance of these major players is driven by their technological expertise, extensive resources, and established brand recognition. These companies typically offered comprehensive and diversified solutions to end use industries.
Nippon Steel Corporation, a prominent Japanese steel manufacturer, ranks among the world's largest steel producers. The company's inception occurred in 2012, the result of a merger between Nippon Steel and Sumitomo Metal. Nippon Steel, with its roots tracing back to 1875, has been a pivotal contributor to the growth of the Japanese steel industry. Nippon Steel's diverse product portfolio encompasses an extensive array of steel variants, comprising hot rolled steel, cold rolled steel, galvanized steel, electrical steel, and stainless steel. These products find applications across multiple sectors, including construction, automotive, machinery, and shipbuilding.
ArcelorMittal, a multinational steel manufacturing giant with its headquarters in Luxembourg City, Luxembourg, emerged in 2006 through the acquisition and amalgamation of Arcelor by Mittal Steel, an entity of Indian ownership. In 2022, ArcelorMittal held the distinction of being the world's largest steel producer, contributing to approximately 5% of the global steel output. With a pervasive international footprint, the corporation operates across more than 60 countries. ArcelorMittal's primary steel production facilities are strategically situated in Europe, North America, and South America. Additionally, the company boasts substantial mining operations in Australia and North America.
Voestalpine Group, a global steel and technology conglomerate, has its headquarters in Linz, Austria. Established in 1873, it stands as one of Europe's foremost steel manufacturers. Voestalpine's diverse steel product line encompasses hot rolled steel, cold rolled steel, galvanized steel, electrical steel, and stainless steel. These products find applications across a spectrum of industries, including construction, automotive, machinery, and shipbuilding. Moreover, Voestalpine holds a distinguished position as a leading producer of specialized steel products, which encompass tool steel and high-performance steel. These exceptional steel products are employed in a wide array of demanding applications, spanning aerospace, automotive, and energy sectors.
Recent Developments
Global Cold Rolled Non-Oriented (CRNO) Steel lamination Market Scope
| Report Components | Details |
|---|---|
| Forecast Period | 2023 – 2030 |
| Quantitative Units | Revenue in US $ |
| Drivers |
|
| Challenges |
|
| Segments Covered | By Product Type (Grain-oriented CRNO steel lamination, Non-grain oriented CRNO steel lamination), By Application (Power & distribution transformers, Motors, Inductors, Other applications (e.g., generators, appliances, etc.)), By End-Use Industry (Energy & power, Automotive, Manufacturing, Home appliances, Other industries (e.g., construction, aerospace, etc.)), |
| Countries Covered | U.S. and Canada in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the APAC, Others include Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA), Brazil, Argentina, Mexico, and Rest of South America as part of South America |
| Market Players Covered | Nippon Steel Corporation (Japan), ArcelorMittal (Luxembourg), Voestalpine Group (Austria), Posco (South Korea), Tata Steel (India), JFE Steel Corporation (Japan), China Steel Corporation (CSC) (Taiwan), AK Steel Holding Corporation (United States), ThyssenKrupp Electrical Steel (Germany), Cogent Power Limited (India), SAIL (India), Nomax Electrical Steel (India), Allegheny Technologies Incorporated (ATI) (United States), NLMK (Russia), Severstal (Russia), Magnitogorsk Iron and Steel Works (MMK) (Russia), Evraz (Russia), Nisshin Steel (Japan), Kyoei Steel (Japan), Tohoku Electrical Steel (Japan) |
Discover exceptional experiences through testimonials from our satisfied customers.
"As for the experience of using your service, I overall enjoyed the interactions and the report. I thought your report reflects well the overall market trends and the key players.Your data on China, understandably, was partial at best, given the status of the industry and the regulatory compliance in China."
"Delighted with the affordable, in-depth report! Instant replies to queries made the project smooth. Met client expectations seamlessly with the invaluable insights provided. Highly recommend for quality and efficiency!"
