By submitting this form, you are agreeing to the Terms of Use and Privacy Policy.
.
Electric motors, solenoids, tiny relays, generators, and other devices all use electrical steel, a soft magnetic material with enhanced electrical properties. Other names for it include silicon steel, lamination steel, and transformer steel.
The iron-silicon alloy known as electrical steel, also known as silicon steel, has better magnetic properties than other types of steel alloys, making it ideal for a range of electrical machinery, including power and distribution transformers and electric motors.
Grain-oriented electrical steel (GOES) and non-oriented electrical steel are the two main subcategories of the commercial electrical steel market (NOES). While rotating machinery like motors and generators, which need multidirectional magnetization, uses NOES, static machinery like transformers uses GOES, which only has to be magnetized in one direction.
The Saudi Arabia EV Steel Market accounted for $XX Billion in 2023 and is anticipated to reach $XX Billion by 2026, registering a CAGR of XX% from 2024 to 2030.
As part of efforts to entice investment into the mining sector, Saudi Arabia’s Ministry of Industry and Mineral Resources has secured billions for a steel plate mill complex and an electric vehicle battery metals production. Nine mining projects for midstream metals and minerals would be funded by the ministry’s goal.
In addition to a “green” flat steel complex that will service the automotive, food packaging, machinery and equipment, and other industrial sectors, the nine projects also include a steel plate mill complex for the shipbuilding, oil and gas, construction, and defense industries.