What is the expected market size of the Global Electrical Steel Size, Share, Opportunities, And Trends By Type (Grain Oriented, Non-Grain Oriented), By Application (Transformers, Motors, Inductors, Others), By End-User Industry (Energy, Automotive, Manufacturing, Household Appliances, Others), By Region – Forecasts From 2025 To 2030 Market?

The Global Electrical Steel Size, Share, Opportunities, And Trends By Type (Grain Oriented, Non-Grain Oriented), By Application (Transformers, Motors, Inductors, Others), By End-User Industry (Energy, Automotive, Manufacturing, Household Appliances, Others), By Region – Forecasts From 2025 To 2030 Market is expected to reach significant growth by 2030.

What are the key drivers of this market?

Key drivers include increasing demand across industries, technological advancements, favorable government policies, and growing awareness among end-users. The full report provides detailed analysis of all market drivers.

Which regions are covered in this report?

This report covers key regions including North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa with detailed country-level analysis.

What is the forecast period of this report?

This report provides analysis and forecasts from 2024 to 2030.

Who are the key players in this market?

The report profiles leading companies operating in the market. Click on the "Companies Profiled" tab to see the list of key players covered in this report.

Global Electrical Steel Market: Size, Share, Trends, Forecast 2030

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Report Overview

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Global Electrical Steel Market Highlights

The rise in the demand for electric vehicles will lead to an increase in the demand for electric steel in the automobile market. The HEV/EV are going to play a crucial role in the growth of the electrical steel market.

Rapid industrialization and an increase in the population have led to an increase in the global consumption of power and energy. Stringent government regulations due to increasing concerns for the environment pertaining to CO2 emissions have led to a focus on environmental sustainability and energy efficiency, thereby increasing the demand for grain-oriented and non-grain-oriented electrical steel. This steel is used in high-powered transformers and motors.

The addition of silicon to iron substantially increases the physical characteristics of electric steel. For the benefit of energy generation, distribution and consumption, electrical steels have the following attractive properties

high electrical resistivity, decreased hysteresis loss, low magnetostriction, and high permeability.

The Indian steelmakers are considering producing CRGO electric steel which is used in the manufacture of transformers and electric motors, the main reason being to become self-sufficient and reduce the dependence on China, Japan, and South Korea for the product.

The demand for non-grain-oriented electric steel will increase with the increase in the demand for household appliances because it's recyclable in nature and corrosion-resistant. It is used in washing machines, refrigerators, motors, and various other appliances that are used in the kitchen. The market for electrical steel will grow with the increase in innovation and demand for these household products.

An increase in the demand for electric cars and automobiles in the US, Canada, and Mexico is going to foster growth in the market of electric steel.

Initiatives taken by the government will encourage the use of electrical steel. Growing concerns for the environment strict regulations are being implemented which will foster the growth of the electrical steel market. 

Electrical Steel Market Size:

The Global Electrical Steel Market is anticipated to increase from USD 42.245 billion in 2025 to USD 56.002 billion by 2030, with a 5.80% CAGR.

The electrical steel market is estimated to grow in the forecast period. An increase in infrastructural development, industrialization, a rise in the demand in the power sector, and urbanization is going to be the driving factors of the electrical steel market. Electrical steel is used across various applications such as solenoids, electric motors, generators, small relays, and various other electromagnetic devices. The key users of electric steel are the automobile industries and electric power distribution systems which will foster growth in the market.

Electrical Steel Market Drivers:

Electrical Steel Market Restraints:

The prices of raw materials are very volatile. The steel industry depends largely on the availability of raw materials for the production and processing of steel goods. Iron ore, coal, industrial gases, and ferro-alloys are the main raw materials needed for steel production. If raw materials are fairly priced, it is possible to perform steel manufacturing and steel processing operations smoothly. But the prices of raw materials are extremely unpredictable. Increases in raw material costs have an effect on the cost of production of steel, contributing to inflation in the prices of finished steel goods, such as grain-oriented electrical steel and non-grain-oriented electrical steel.

Electrical Steel Market Major Players:

The major players in the electrical steel market are ArcelorMittal, POSCO, Baosteel Group Corporation, Voestalpine AG, Nippon Steel & Sumitomo Metal Corporation, ThyssenKrupp AG, Phoenix Mecano AG, NLMK (Novolipetsk Steel), Nicore Electrical Manufactory Co Ltd., Leicong Industrial Co Ltd., Cogent Power Limited, ATI, AK Steel Corporation, and many others. The companies are using various strategies to stay ahead in the market by entering into a joint venture, mergers, and acquisitions in order to expand their business and enter the untapped and potential market.

Electrical Steel Market Segmentation:

By Type
- Grain Oriented
- Non-Grain Oriented
By Application
- Transformers
- Motors
- Inductors
- Others
By End-User Industry
- Energy
- Automotive
- Manufacturing
- Household Appliances
- Others
By Geography
- North America
  - USA
  - Canada
  - Mexico
- South America
  - Brazil
  - Argentina
  - Others
- Europe
  - Germany
  - France
  - United Kingdom
  - Spain
  - Others
- Middle East and Africa
  - Saudi Arabia
  - UAE
  - Others
- Asia Pacific
  - China
  - India
  - Japan
  - South Korea
  - Indonesia
  - Thailand
  - Others

REPORT DETAILS

Report ID:KSI061614068

Published:Nov 2025

Pages:145

Format:PDF, Excel, PPT, Dashboard

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Frequently Asked Questions

The electrical steel market is expected to reach a total market size of US$56.002 billion by 2030.

The electrical steel market is expected to grow at a CAGR of 5.80% during the forecast period.

Electrical Steel Market is valued at US$42.245 billion in 2025.

An increase in infrastructural development, industrialization, a rise in the demand in the power sector, and urbanization is going to be the driving factors of the electrical steel market.

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