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Electronics & Semiconductors

Global Electrical Steel Market Outlook Forecast and Analysis, 2025–2035

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Electrical steel market outlook to 2035 with size, CAGR, trends, GOES, NGOES, EV motors, transformers, grid demand, and company analysis.

SKU: 9016    Pages: 200   Format: PDF   Delivery: Upto 24 to 48 hrs

Introduction

  • The global Electrical Steel Market was valued at USD 33.44 Billion in 2025 and is projected to reach USD 57.99 Billion by 2035, growing at a CAGR of 5.66% during the forecast period 2025–2035, supported by rising demand from power transformers, electric motors, generators, and energy-efficient electrical equipment.
  • The market is gaining strong momentum as governments, utilities, and industries continue investing in grid modernization, renewable energy integration, electric vehicle production, and high-efficiency motor systems. Electrical steel plays a critical role in reducing energy losses and improving magnetic performance across power and industrial applications.
  • Growing use of grain-oriented electrical steel in transformers and non-grain-oriented electrical steel in motors is strengthening market demand across energy, automotive, manufacturing, and infrastructure sectors. Increasing focus on low-carbon technologies and efficient power distribution is expected to create long-term growth opportunities for electrical steel manufacturers.

Swot Analysis of the Global Electrical Steel Market 

Strengths

  • Strong demand from transformers, motors, generators, electric vehicles, and renewable energy infrastructure supports steady market expansion.
  • Electrical steel offers high magnetic efficiency, reduced core losses, and improved energy performance, making it essential for modern power systems.
  • Increasing investments in grid upgrades and energy-efficient equipment are strengthening the role of electrical steel in global electrification.
  • Established steel manufacturers have strong production capabilities, technical expertise, and long-term relationships with energy and automotive customers.

Weaknesses

  • Production of high-quality electrical steel requires advanced technology, strict quality control, and significant capital investment.
  • Price volatility in raw materials such as iron ore, silicon, and energy inputs can impact manufacturer margins.
  • Limited availability of premium-grade grain-oriented and non-grain-oriented electrical steel may create supply constraints in some regions.
  • The market is highly dependent on cyclical end-use industries such as power infrastructure, automotive manufacturing, and industrial equipment.

Opportunities

  • Expansion of electric vehicle production is increasing demand for non-grain-oriented electrical steel used in traction motors and high-performance motor cores.
  • Renewable energy growth and power grid modernization are creating strong opportunities for transformer-grade electrical steel.
  • Emerging economies are investing in transmission networks, industrial electrification, and urban infrastructure, supporting future market growth.
  • Development of low-loss, high-permeability, and thinner-gauge electrical steel products can help manufacturers capture premium market segments.

Threats

  • Intense competition among global and regional steel producers may pressure pricing and profitability.
  • Trade restrictions, import duties, and regional supply chain disruptions can affect electrical steel availability and cost.
  • Fluctuations in automotive, construction, and power sector investments may slow short-term demand.
  • Increasing environmental regulations on steel production may raise compliance costs for manufacturers using conventional production processes.

Global Electrical Steel Market – Top Segments

1. By Type
1.1 Grain-Oriented Electrical Steel (GOES)
1.2 Non-Grain-Oriented Electrical Steel (NGOES)
1.3 Fully Processed Electrical Steel
1.4 Semi-Processed Electrical Steel
1.5 Others

2. By Thickness
2.1 Up to 0.23 mm
2.2 0.23 mm – 0.35 mm
2.3 0.35 mm – 0.50 mm
2.4 Above 0.50 mm
2.5 Others

3. By Application
3.1 Transformers
3.2 Motors
3.3 Generators
3.4 Inductors & Reactors
3.5 Magnetic Components
3.6 Others

4. By End-Use Industry
4.1 Energy & Power
4.2 Automotive & Electric Vehicles
4.3 Industrial Manufacturing
4.4 Consumer Electronics & Appliances
4.5 Renewable Energy
4.6 Others

5. By Sales Channel
5.1 Direct Sales
5.2 Distributors & Traders
5.3 OEM Sales
5.4 EPC Contractors
5.5 Online Sales
5.6 Others

6. By Region
6.1 North America
6.2 Europe
6.3 Asia Pacific
6.4 Latin America
6.5 Middle East & Africa

Table : Global Electrical Steel Market Snapshot, 2025–2035

Metric

Value

Market Name

Global Electrical Steel Market

Market Size 2025

USD 33.44 Billion

Forecast Value 2035

USD 57.99 Billion

CAGR

5.66%

Base Year

2025

Forecast Period

2025–2035

Key Material Types

Grain-Oriented Electrical Steel, Non-Grain-Oriented Electrical Steel, Fully Processed Electrical Steel, Semi-Processed Electrical Steel

Major Applications

Transformers, Motors, Generators, Inductors & Reactors, Magnetic Components

Key End-Use Industries

Energy & Power, Automotive & Electric Vehicles, Industrial Manufacturing, Consumer Electronics & Appliances, Renewable Energy

Growth Drivers

Grid modernization, renewable energy expansion, electric vehicle production, high-efficiency motors, and power transformer demand

Regional Coverage

North America, Europe, Asia Pacific, Latin America, Middle East & Africa

Key Players

thyssenkrupp Electrical Steel, Nippon Steel Corporation, JFE Steel Corporation, POSCO, China Baowu Steel Group, ArcelorMittal, Cleveland-Cliffs, Tata Steel, Voestalpine AG, Siemens Energy

Source: Primary Research and Secondary Research Analysis

Global Electrical Steel Market – Key Players

  1. thyssenkrupp Materials
  2. thyssenkrupp Electrical Steel
  3. thyssenkrupp Steel Europe
  4. Nippon Steel Corporation
  5. JFE Steel Corporation
  6. POSCO
  7. China Baowu Steel Group
  8. Baoshan Iron & Steel
  9. Shougang Group
  10. Ansteel Group
  11. Benxi Steel Group
  12. Wuhan Iron and Steel
  13. ArcelorMittal
  14. Cleveland-Cliffs
  15. AK Steel
  16. United States Steel Corporation
  17. Nucor Corporation
  18. Steel Dynamics
  19. Tata Steel
  20. JSW Steel
  21. Jindal Steel & Power
  22. Steel Authority of India Limited
  23. Essar Steel
  24. AM/NS India
  25. Voestalpine AG
  26. Voestalpine Stahl
  27. Aperam
  28. NLMK Group
  29. Novolipetsk Steel
  30. Stalprodukt S.A.
  31. Cogne Acciai Speciali
  32. Marcegaglia Steel
  33. SSAB
  34. Salzgitter AG
  35. Liberty Steel Group
  36. HBIS Group
  37. Maanshan Iron & Steel
  38. Taiyuan Iron & Steel
  39. Valin Steel
  40. Nanjing Iron & Steel
  41. Rizhao Steel
  42. Fangda Steel
  43. Shagang Group
  44. Zenith Steel Group
  45. China Steel Corporation
  46. CSC Steel Holdings
  47. Hyundai Steel
  48. Dongkuk Steel
  49. SeAH Steel
  50. KG Dongbu Steel
  51. Daido Steel
  52. Kobe Steel
  53. Mitsubishi Steel
  54. Tokyo Steel Manufacturing
  55. Yieh Phui Enterprise
  56. Sheng Yu Steel
  57. BlueScope Steel
  58. InfraBuild
  59. Ternium
  60. Gerdau
  61. Usiminas
  62. CSN
  63. Acerinox
  64. Outokumpu
  65. Magnitogorsk Iron and Steel Works
  66. Severstal
  67. Evraz
  68. Metinvest
  69. Erdemir Group
  70. Tosyali Holding
  71. Kardemir
  72. Emirates Steel Arkan
  73. Qatar Steel
  74. Saudi Iron & Steel Company
  75. Ezz Steel
  76. Mobarakeh Steel Company
  77. Isfahan Steel Company
  78. Krakatau Steel
  79. Hoa Phat Group
  80. Formosa Ha Tinh Steel
  81. China Steel Sumikin Vietnam
  82. PT Gunung Raja Paksi
  83. Perwaja Steel
  84. CSC Steel Malaysia
  85. Tenova
  86. Danieli Group
  87. Primetals Technologies
  88. SMS Group
  89. Fives Group
  90. ANDRITZ
  91. ABB
  92. Siemens Energy
  93. Schneider Electric
  94. General Electric
  95. Hitachi Energy
  96. Toshiba Energy Systems
  97. Mitsubishi Electric
  98. Fuji Electric
  99. Hyundai Electric
  100. Hyosung Heavy Industries
  101. LS Electric
  102. Bharat Heavy Electricals Limited
  103. CG Power and Industrial Solutions
  104. Kirloskar Electric
  105. Voltamp Transformers
  106. Transformers and Rectifiers India
  107. Bharat Bijlee
  108. Siemens Limited
  109. Crompton Greaves Consumer Electricals
  110. Havells India
  111. WEG S.A.
  112. Weg Electric
  113. Nidec Corporation
  114. Regal Rexnord
  115. TECO Electric & Machinery
  116. Toshiba Industrial Products
  117. Brook Crompton
  118. ABB Motors and Generators
  119. Siemens Large Drives
  120. Schneider Electric Motion
  121. Emerson Electric
  122. Rockwell Automation
  123. Yaskawa Electric
  124. Hitachi Industrial Equipment
  125. Fuji Electric Motor Division
  126. Johnson Electric
  127. Maxon Motor
  128. Baldor Electric
  129. Marathon Electric
  130. Leroy-Somer
  131. ATB Group
  132. Bonfiglioli
  133. SEW-Eurodrive
  134. Sumitomo Heavy Industries
  135. Toshiba Mitsubishi-Electric Industrial Systems
  136. SGB-SMIT Group
  137. Wilson Transformer Company
  138. Hammond Power Solutions
  139. Howard Industries
  140. Prolec GE
  141. SPX Transformer Solutions
  142. Virginia Transformer
  143. MGM Transformer
  144. ERMCO
  145. Delta Star
  146. Hitachi Energy Transformers
  147. Siemens Energy Transformers
  148. Schneider Electric Transformers
  149. Toshiba Transformers
  150. Mitsubishi Electric Transformers
  151. Hyundai Transformers
  152. Hyosung Transformers
  153. CG Power Transformers
  154. TBEA Co., Ltd.
  155. China XD Electric
  156. Baoding Tianwei Baobian Electric
  157. Shandong Electrical Engineering & Equipment
  158. Jiangsu Huapeng Transformer
  159. Tebian Electric Apparatus
  160. Elsewedy Electric
  161. Ormazabal
  162. Efacec
  163. Arteche Group
  164. Crompton Greaves Power
  165. Raychem RPG
  166. Power Grid Components
  167. Hitachi Metals
  168. Proterial
  169. Arnold Magnetic Technologies
  170. Vacuumschmelze
  171. Carpenter Technology
  172. Aperam Alloys
  173. Sura Magnets
  174. Magnequench
  175. Electron Energy Corporation
  176. Metglas
  177. National Material Company
  178. Tempel Steel
  179. Orchid International
  180. Euro Group
  181. Kienle + Spiess
  182. Thomson Lamination Company
  183. Polaris Laser Laminations
  184. LCS Company
  185. Lake Air Metals
  186. Brandauer
  187. Cogent Power
  188. Surahammars Bruks
  189. Waelzholz
  190. JFE Shoji Corporation
  191. Ryerson Holding
  192. Kloeckner Metals
  193. Reliance Steel & Aluminum
  194. Worthington Steel
  195. Olympic Steel
  196. Steel Warehouse
  197. thyssenkrupp Materials Services
  198. thyssenkrupp Materials Processing Europe
  199. thyssenkrupp Materials UK
  200. thyssenkrupp Materials NA
  1. GLOBAL ELECTRICAL STEEL MARKET – REPORT OVERVIEW
    1.1. Scope of the Report
    1.2. Market Definition
    1.3. Market Segmentation
    1.4. Base Year and Forecast Period
    1.5. Currency and Units Considered
    1.6. Key Market Assumptions
    1.7. Research Limitations
  2. GLOBAL ELECTRICAL STEEL MARKET – EXECUTIVE SUMMARY
    2.1. Market Snapshot
    2.2. Market Size and Forecast, 2025–2035
    2.3. Key Market Highlights
    2.4. Key Growth Indicators
    2.5. Major Market Opportunities
    2.6. Competitive Summary
  3. GLOBAL ELECTRICAL STEEL MARKET – RESEARCH METHODOLOGY
    3.1. Research Approach
    3.2. Primary Research
    3.3. Secondary Research
    3.4. Market Size Estimation
    3.5. Data Triangulation
    3.6. Forecasting Methodology
    3.7. Validation Process
  4. GLOBAL ELECTRICAL STEEL MARKET – MARKET DYNAMICS
    4.1. Market Drivers
    4.1.1. Rising Demand for Power Transformers
    4.1.2. Growth in Electric Vehicle Production
    4.1.3. Expansion of Renewable Energy Infrastructure
    4.1.4. Increasing Need for Energy-Efficient Motors
    4.2. Market Restraints
    4.2.1. Raw Material Price Volatility
    4.2.2. High Manufacturing and Processing Costs
    4.2.3. Supply Chain Dependency for Premium Grades
    4.3. Market Opportunities
    4.3.1. Grid Modernization and Smart Grid Investments
    4.3.2. Growth in Non-Grain-Oriented Electrical Steel Demand
    4.3.3. Rising Adoption of Low-Loss Electrical Steel
    4.4. Market Challenges
    4.4.1. Intense Competition Among Steel Producers
    4.4.2. Environmental Compliance Pressure
    4.4.3. Fluctuating Demand from End-Use Industries
  5. GLOBAL ELECTRICAL STEEL MARKET – SWOT ANALYSIS
    5.1. Strengths
    5.2. Weaknesses
    5.3. Opportunities
    5.4. Threats
  6. GLOBAL ELECTRICAL STEEL MARKET – PORTER’S FIVE FORCES ANALYSIS
    6.1. Bargaining Power of Suppliers
    6.2. Bargaining Power of Buyers
    6.3. Threat of New Entrants
    6.4. Threat of Substitutes
    6.5. Competitive Rivalry
  7. GLOBAL ELECTRICAL STEEL MARKET – PESTEL ANALYSIS
    7.1. Political Factors
    7.2. Economic Factors
    7.3. Social Factors
    7.4. Technological Factors
    7.5. Environmental Factors
    7.6. Legal Factors
  8. GLOBAL ELECTRICAL STEEL MARKET – BY TYPE
    8.1. Overview
    8.2. Grain-Oriented Electrical Steel (GOES)
    8.3. Non-Grain-Oriented Electrical Steel (NGOES)
    8.4. Fully Processed Electrical Steel
    8.5. Semi-Processed Electrical Steel
    8.6. Others
  9. GLOBAL ELECTRICAL STEEL MARKET – BY THICKNESS
    9.1. Overview
    9.2. Up to 0.23 mm
    9.3. 0.23 mm – 0.35 mm
    9.4. 0.35 mm – 0.50 mm
    9.5. Above 0.50 mm
    9.6. Others
  10. GLOBAL ELECTRICAL STEEL MARKET – BY APPLICATION
    10.1. Overview
    10.2. Transformers
    10.3. Motors
    10.4. Generators
    10.5. Inductors & Reactors
    10.6. Magnetic Components
    10.7. Others
  11. GLOBAL ELECTRICAL STEEL MARKET – BY END-USE INDUSTRY
    11.1. Overview
    11.2. Energy & Power
    11.3. Automotive & Electric Vehicles
    11.4. Industrial Manufacturing
    11.5. Consumer Electronics & Appliances
    11.6. Renewable Energy
    11.7. Others
  12. GLOBAL ELECTRICAL STEEL MARKET – BY SALES CHANNEL
    12.1. Overview
    12.2. Direct Sales
    12.3. Distributors & Traders
    12.4. OEM Sales
    12.5. EPC Contractors
    12.6. Online Sales
    12.7. Others
  13. GLOBAL ELECTRICAL STEEL MARKET – BY REGION
    13.1. Overview
    13.2. North America
    13.2.1. United States
    13.2.2. Canada
    13.2.3. Mexico
    13.3. Europe
    13.3.1. Germany
    13.3.2. United Kingdom
    13.3.3. France
    13.3.4. Italy
    13.3.5. Spain
    13.3.6. Rest of Europe
    13.4. Asia Pacific
    13.4.1. China
    13.4.2. Japan
    13.4.3. India
    13.4.4. South Korea
    13.4.5. Australia
    13.4.6. Rest of Asia Pacific
    13.5. Latin America
    13.5.1. Brazil
    13.5.2. Argentina
    13.5.3. Rest of Latin America
    13.6. Middle East & Africa
    13.6.1. GCC Countries
    13.6.2. South Africa
    13.6.3. Rest of Middle East & Africa
  14. GLOBAL ELECTRICAL STEEL MARKET – COMPETITIVE LANDSCAPE
    14.1. Vendor Landscape
    14.2. Competitive Benchmarking
    14.3. Market Positioning Analysis
    14.4. Product Portfolio Analysis
    14.5. Strategic Initiatives
    14.6. Recent Developments
    14.7. Mergers, Acquisitions and Partnerships
    14.8. Heat Map Analysis
  15. GLOBAL ELECTRICAL STEEL MARKET – COMPANY PROFILES
    15.1. thyssenkrupp Materials
    15.2. thyssenkrupp Electrical Steel
    15.3. thyssenkrupp Steel Europe
    15.4. Nippon Steel Corporation
    15.5. JFE Steel Corporation
    15.6. POSCO
    15.7. China Baowu Steel Group
    15.8. Baoshan Iron & Steel
    15.9. Shougang Group
    15.10. Ansteel Group
    15.11. Benxi Steel Group
    15.12. Wuhan Iron and Steel
    15.13. ArcelorMittal
    15.14. Cleveland-Cliffs
    15.15. AK Steel
    15.16. United States Steel Corporation
    15.17. Nucor Corporation
    15.18. Steel Dynamics
    15.19. Tata Steel
    15.20. JSW Steel
    15.21. Jindal Steel & Power
    15.22. Steel Authority of India Limited
    15.23. Essar Steel
    15.24. AM/NS India
    15.25. Voestalpine AG
    15.26. Voestalpine Stahl
    15.27. Aperam
    15.28. NLMK Group
    15.29. Novolipetsk Steel
    15.30. Stalprodukt S.A.
    15.31. Cogne Acciai Speciali
    15.32. Marcegaglia Steel
    15.33. SSAB
    15.34. Salzgitter AG
    15.35. Liberty Steel Group
    15.36. HBIS Group
    15.37. Maanshan Iron & Steel
    15.38. Taiyuan Iron & Steel
    15.39. Valin Steel
    15.40. Nanjing Iron & Steel
    15.41. Rizhao Steel
    15.42. Fangda Steel
    15.43. Shagang Group
    15.44. Zenith Steel Group
    15.45. China Steel Corporation
    15.46. CSC Steel Holdings
    15.47. Hyundai Steel
    15.48. Dongkuk Steel
    15.49. SeAH Steel
    15.50. KG Dongbu Steel
    15.51. Daido Steel
    15.52. Kobe Steel
    15.53. Mitsubishi Steel
    15.54. Tokyo Steel Manufacturing
    15.55. Yieh Phui Enterprise
    15.56. Sheng Yu Steel
    15.57. BlueScope Steel
    15.58. InfraBuild
    15.59. Ternium
    15.60. Gerdau
    15.61. Usiminas
    15.62. CSN
    15.63. Acerinox
    15.64. Outokumpu
    15.65. Magnitogorsk Iron and Steel Works
    15.66. Severstal
    15.67. Evraz
    15.68. Metinvest
    15.69. Erdemir Group
    15.70. Tosyali Holding
    15.71. Kardemir
    15.72. Emirates Steel Arkan
    15.73. Qatar Steel
    15.74. Saudi Iron & Steel Company
    15.75. Ezz Steel
    15.76. Mobarakeh Steel Company
    15.77. Isfahan Steel Company
    15.78. Krakatau Steel
    15.79. Hoa Phat Group
    15.80. Formosa Ha Tinh Steel
    15.81. China Steel Sumikin Vietnam
    15.82. PT Gunung Raja Paksi
    15.83. Perwaja Steel
    15.84. CSC Steel Malaysia
    15.85. Tenova
    15.86. Danieli Group
    15.87. Primetals Technologies
    15.88. SMS Group
    15.89. Fives Group
    15.90. ANDRITZ
    15.91. ABB
    15.92. Siemens Energy
    15.93. Schneider Electric
    15.94. General Electric
    15.95. Hitachi Energy
    15.96. Toshiba Energy Systems
    15.97. Mitsubishi Electric
    15.98. Fuji Electric
    15.99. Hyundai Electric
    15.100. Hyosung Heavy Industries
    15.101. LS Electric
    15.102. Bharat Heavy Electricals Limited
    15.103. CG Power and Industrial Solutions
    15.104. Kirloskar Electric
    15.105. Voltamp Transformers
    15.106. Transformers and Rectifiers India
    15.107. Bharat Bijlee
    15.108. Siemens Limited
    15.109. Crompton Greaves Consumer Electricals
    15.110. Havells India
    15.111. WEG S.A.
    15.112. Weg Electric
    15.113. Nidec Corporation
    15.114. Regal Rexnord
    15.115. TECO Electric & Machinery
    15.116. Toshiba Industrial Products
    15.117. Brook Crompton
    15.118. ABB Motors and Generators
    15.119. Siemens Large Drives
    15.120. Schneider Electric Motion
    15.121. Emerson Electric
    15.122. Rockwell Automation
    15.123. Yaskawa Electric
    15.124. Hitachi Industrial Equipment
    15.125. Fuji Electric Motor Division
    15.126. Johnson Electric
    15.127. Maxon Motor
    15.128. Baldor Electric
    15.129. Marathon Electric
    15.130. Leroy-Somer
    15.131. ATB Group
    15.132. Bonfiglioli
    15.133. SEW-Eurodrive
    15.134. Sumitomo Heavy Industries
    15.135. Toshiba Mitsubishi-Electric Industrial Systems
    15.136. SGB-SMIT Group
    15.137. Wilson Transformer Company
    15.138. Hammond Power Solutions
    15.139. Howard Industries
    15.140. Prolec GE
    15.141. SPX Transformer Solutions
    15.142. Virginia Transformer
    15.143. MGM Transformer
    15.144. ERMCO
    15.145. Delta Star
    15.146. Hitachi Energy Transformers
    15.147. Siemens Energy Transformers
    15.148. Schneider Electric Transformers
    15.149. Toshiba Transformers
    15.150. Mitsubishi Electric Transformers
    15.151. Hyundai Transformers
    15.152. Hyosung Transformers
    15.153. CG Power Transformers
    15.154. TBEA Co., Ltd.
    15.155. China XD Electric
    15.156. Baoding Tianwei Baobian Electric
    15.157. Shandong Electrical Engineering & Equipment
    15.158. Jiangsu Huapeng Transformer
    15.159. Tebian Electric Apparatus
    15.160. Elsewedy Electric
    15.161. Ormazabal
    15.162. Efacec
    15.163. Arteche Group
    15.164. Crompton Greaves Power
    15.165. Raychem RPG
    15.166. Power Grid Components
    15.167. Hitachi Metals
    15.168. Proterial
    15.169. Arnold Magnetic Technologies
    15.170. Vacuumschmelze
    15.171. Carpenter Technology
    15.172. Aperam Alloys
    15.173. Sura Magnets
    15.174. Magnequench
    15.175. Electron Energy Corporation
    15.176. Metglas
    15.177. National Material Company
    15.178. Tempel Steel
    15.179. Orchid International
    15.180. Euro Group
    15.181. Kienle + Spiess
    15.182. Thomson Lamination Company
    15.183. Polaris Laser Laminations
    15.184. LCS Company
    15.185. Lake Air Metals
    15.186. Brandauer
    15.187. Cogent Power
    15.188. Surahammars Bruks
    15.189. Waelzholz
    15.190. JFE Shoji Corporation
    15.191. Ryerson Holding
    15.192. Kloeckner Metals
    15.193. Reliance Steel & Aluminum
    15.194. Worthington Steel
    15.195. Olympic Steel
    15.196. Steel Warehouse
    15.197. thyssenkrupp Materials Services
    15.198. thyssenkrupp Materials Processing Europe
    15.199. thyssenkrupp Materials UK
    15.200. thyssenkrupp Materials NA
  16. GLOBAL ELECTRICAL STEEL MARKET – STRATEGIC RECOMMENDATIONS
    16.1. Recommendations for Manufacturers
    16.2. Recommendations for Suppliers and Distributors
    16.3. Recommendations for Investors
    16.4. Recommendations for New Entrants
    16.5. Recommendations for End-Use Industries
  17. GLOBAL ELECTRICAL STEEL MARKET – APPENDIX
    17.1. Abbreviations
    17.2. Sources and References
    17.3. Disclaimer
    17.4. About the Publisher

Global Electrical Steel Market – Top Segments

1. By Type
1.1 Grain-Oriented Electrical Steel (GOES)
1.2 Non-Grain-Oriented Electrical Steel (NGOES)
1.3 Fully Processed Electrical Steel
1.4 Semi-Processed Electrical Steel
1.5 Others

2. By Thickness
2.1 Up to 0.23 mm
2.2 0.23 mm – 0.35 mm
2.3 0.35 mm – 0.50 mm
2.4 Above 0.50 mm
2.5 Others

3. By Application
3.1 Transformers
3.2 Motors
3.3 Generators
3.4 Inductors & Reactors
3.5 Magnetic Components
3.6 Others

4. By End-Use Industry
4.1 Energy & Power
4.2 Automotive & Electric Vehicles
4.3 Industrial Manufacturing
4.4 Consumer Electronics & Appliances
4.5 Renewable Energy
4.6 Others

5. By Sales Channel
5.1 Direct Sales
5.2 Distributors & Traders
5.3 OEM Sales
5.4 EPC Contractors
5.5 Online Sales
5.6 Others

6. By Region
6.1 North America
6.2 Europe
6.3 Asia Pacific
6.4 Latin America
6.5 Middle East & Africa

Global Electrical Steel Market – Key Players

  1. thyssenkrupp Materials
  2. thyssenkrupp Electrical Steel
  3. thyssenkrupp Steel Europe
  4. Nippon Steel Corporation
  5. JFE Steel Corporation
  6. POSCO
  7. China Baowu Steel Group
  8. Baoshan Iron & Steel
  9. Shougang Group
  10. Ansteel Group
  11. Benxi Steel Group
  12. Wuhan Iron and Steel
  13. ArcelorMittal
  14. Cleveland-Cliffs
  15. AK Steel
  16. United States Steel Corporation
  17. Nucor Corporation
  18. Steel Dynamics
  19. Tata Steel
  20. JSW Steel
  21. Jindal Steel & Power
  22. Steel Authority of India Limited
  23. Essar Steel
  24. AM/NS India
  25. Voestalpine AG
  26. Voestalpine Stahl
  27. Aperam
  28. NLMK Group
  29. Novolipetsk Steel
  30. Stalprodukt S.A.
  31. Cogne Acciai Speciali
  32. Marcegaglia Steel
  33. SSAB
  34. Salzgitter AG
  35. Liberty Steel Group
  36. HBIS Group
  37. Maanshan Iron & Steel
  38. Taiyuan Iron & Steel
  39. Valin Steel
  40. Nanjing Iron & Steel
  41. Rizhao Steel
  42. Fangda Steel
  43. Shagang Group
  44. Zenith Steel Group
  45. China Steel Corporation
  46. CSC Steel Holdings
  47. Hyundai Steel
  48. Dongkuk Steel
  49. SeAH Steel
  50. KG Dongbu Steel
  51. Daido Steel
  52. Kobe Steel
  53. Mitsubishi Steel
  54. Tokyo Steel Manufacturing
  55. Yieh Phui Enterprise
  56. Sheng Yu Steel
  57. BlueScope Steel
  58. InfraBuild
  59. Ternium
  60. Gerdau
  61. Usiminas
  62. CSN
  63. Acerinox
  64. Outokumpu
  65. Magnitogorsk Iron and Steel Works
  66. Severstal
  67. Evraz
  68. Metinvest
  69. Erdemir Group
  70. Tosyali Holding
  71. Kardemir
  72. Emirates Steel Arkan
  73. Qatar Steel
  74. Saudi Iron & Steel Company
  75. Ezz Steel
  76. Mobarakeh Steel Company
  77. Isfahan Steel Company
  78. Krakatau Steel
  79. Hoa Phat Group
  80. Formosa Ha Tinh Steel
  81. China Steel Sumikin Vietnam
  82. PT Gunung Raja Paksi
  83. Perwaja Steel
  84. CSC Steel Malaysia
  85. Tenova
  86. Danieli Group
  87. Primetals Technologies
  88. SMS Group
  89. Fives Group
  90. ANDRITZ
  91. ABB
  92. Siemens Energy
  93. Schneider Electric
  94. General Electric
  95. Hitachi Energy
  96. Toshiba Energy Systems
  97. Mitsubishi Electric
  98. Fuji Electric
  99. Hyundai Electric
  100. Hyosung Heavy Industries
  101. LS Electric
  102. Bharat Heavy Electricals Limited
  103. CG Power and Industrial Solutions
  104. Kirloskar Electric
  105. Voltamp Transformers
  106. Transformers and Rectifiers India
  107. Bharat Bijlee
  108. Siemens Limited
  109. Crompton Greaves Consumer Electricals
  110. Havells India
  111. WEG S.A.
  112. Weg Electric
  113. Nidec Corporation
  114. Regal Rexnord
  115. TECO Electric & Machinery
  116. Toshiba Industrial Products
  117. Brook Crompton
  118. ABB Motors and Generators
  119. Siemens Large Drives
  120. Schneider Electric Motion
  121. Emerson Electric
  122. Rockwell Automation
  123. Yaskawa Electric
  124. Hitachi Industrial Equipment
  125. Fuji Electric Motor Division
  126. Johnson Electric
  127. Maxon Motor
  128. Baldor Electric
  129. Marathon Electric
  130. Leroy-Somer
  131. ATB Group
  132. Bonfiglioli
  133. SEW-Eurodrive
  134. Sumitomo Heavy Industries
  135. Toshiba Mitsubishi-Electric Industrial Systems
  136. SGB-SMIT Group
  137. Wilson Transformer Company
  138. Hammond Power Solutions
  139. Howard Industries
  140. Prolec GE
  141. SPX Transformer Solutions
  142. Virginia Transformer
  143. MGM Transformer
  144. ERMCO
  145. Delta Star
  146. Hitachi Energy Transformers
  147. Siemens Energy Transformers
  148. Schneider Electric Transformers
  149. Toshiba Transformers
  150. Mitsubishi Electric Transformers
  151. Hyundai Transformers
  152. Hyosung Transformers
  153. CG Power Transformers
  154. TBEA Co., Ltd.
  155. China XD Electric
  156. Baoding Tianwei Baobian Electric
  157. Shandong Electrical Engineering & Equipment
  158. Jiangsu Huapeng Transformer
  159. Tebian Electric Apparatus
  160. Elsewedy Electric
  161. Ormazabal
  162. Efacec
  163. Arteche Group
  164. Crompton Greaves Power
  165. Raychem RPG
  166. Power Grid Components
  167. Hitachi Metals
  168. Proterial
  169. Arnold Magnetic Technologies
  170. Vacuumschmelze
  171. Carpenter Technology
  172. Aperam Alloys
  173. Sura Magnets
  174. Magnequench
  175. Electron Energy Corporation
  176. Metglas
  177. National Material Company
  178. Tempel Steel
  179. Orchid International
  180. Euro Group
  181. Kienle + Spiess
  182. Thomson Lamination Company
  183. Polaris Laser Laminations
  184. LCS Company
  185. Lake Air Metals
  186. Brandauer
  187. Cogent Power
  188. Surahammars Bruks
  189. Waelzholz
  190. JFE Shoji Corporation
  191. Ryerson Holding
  192. Kloeckner Metals
  193. Reliance Steel & Aluminum
  194. Worthington Steel
  195. Olympic Steel
  196. Steel Warehouse
  197. thyssenkrupp Materials Services
  198. thyssenkrupp Materials Processing Europe
  199. thyssenkrupp Materials UK
  200. thyssenkrupp Materials NA

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Frequently Asked Questions

Frequently Asked Questions

What is the current size of the global Electrical Steel Market?

The global Electrical Steel Market was valued at USD 33.44 Billion in 2025 and is projected to reach USD 57.99 Billion by 2035, growing at a CAGR of 5.66% during the forecast period 2025–2035.

Why is the Electrical Steel Market becoming important in the clean energy era?

The Electrical Steel Market is gaining importance because electrical steel is widely used in transformers, motors, generators, electric vehicles, and renewable energy systems. Its ability to reduce energy losses makes it a key material for efficient power transmission and electrification.

What is driving the growth of the Electrical Steel Market worldwide?

Market growth is mainly driven by rising electric vehicle production, grid modernization projects, renewable energy expansion, industrial automation, and increasing demand for high-efficiency electrical equipment across developed and emerging economies.

How will the Electrical Steel Market perform by 2035?

The Electrical Steel Market is expected to reach USD 57.99 Billion by 2035, supported by strong demand for grain-oriented electrical steel in transformers and non-grain-oriented electrical steel in electric motors, EVs, and industrial machinery.

Which applications are creating the strongest opportunities in the Electrical Steel Market?

The strongest opportunities are emerging from power transformers, EV traction motors, renewable energy infrastructure, smart grids, generators, and energy-efficient industrial motors, where electrical steel helps improve magnetic performance and reduce power losses.

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