The global Grain-oriented Electrical Steel Market is forecasted to reach USD 24.40 billion by 2027, driven by factors such as the increase in infrastructure development and urbanization, rising demand from the energy generation and transmission sector, and the introduction of electric vehicles. The shift towards urbanization is leading to an increase in demand for electricity, and industrial developments across the world are further driving the growth of the industry. Additionally, government initiatives for infrastructural development are boosting demand in the market. The increase in disposable income and adoption of electric and hybrid vehicles are also contributing to the growth of the industry, as Inductors steel is widely used in the manufacturing process of these vehicles. However, the industry's growth is being restricted due to the replacement of Inductors steel transformers with electronic ballasts, which do not require transformers to operate. This is resulting in limited growth opportunities for the industry. Additionally, the increase in raw material prices is making the products of the industry expensive, making room for substitutes.