Global Electrical Steel Market 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

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:

• 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 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.

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 Region
  • North America
    • United States
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • Germany
    • United Kingdom
    • France
    • Italy
    • Russia
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • South Africa
    • Others
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Australia
    • Others

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1.Introduction
1.1.Market Definition
1.2.Market Segmentation
2.Research Methodology
2.1.Research Data
2.2.Assumptions
3.Executive Summary
3.1.Research Highlights
4.Market Dynamics
4.1.Market Drivers
4.2.Market Restraints
4.3.Porters Five Forces Analysis
4.3.1.Bargaining Power of Suppliers
4.3.2.Bargaining Power of Buyers
4.3.3.The threat of New Entrants
4.3.4.Threat of Substitutes
4.3.5.Competitive Rivalry in the Industry
4.4.Industry Value Chain Analysis
5.Electrical Steel Market Analysis, By Type
5.1.Introduction
5.2.Grain Oriented
5.3.Non-Grain Oriented
6.Electrical Steel Market Analysis, By Application
6.1.Introduction
6.2.Transformers
6.3.Motors 
6.4.Inductors
6.5.Others
7.Electrical Steel Market Analysis, by End-User Industry
7.1.Introduction
7.2.Energy
7.3.Automotive 
7.4.Manufacturing
7.5.Household Appliances
7.6.Others
8.Electrical Steel Market Analysis, by Geography
8.1. Introduction
8.2. North America
8.2.1.North America Electrical Steel Market Analysis, By Type, 2021 to 2026
8.2.2.North America Electrical Steel Market Analysis, By Application, 2021 to 2026
8.2.3.North America Electrical Steel Market Analysis, By End-User Industry, 2021 to 2026
8.2.4.By Country
8.2.4.1.United States
8.2.4.2.Canada
8.2.4.3.Mexico
8.3.South America
8.3.1.South America Electrical Steel Market Analysis, By Type, 2021 to 2026
8.3.2.South America Electrical Steel Market Analysis, By Application, 2021 to 2026
8.3.3.South America Electrical Steel Market Analysis, By End-User Industry, 2021 to 2026
8.3.4.By Country
8.3.4.1.Brazil
8.3.4.2.Argentina
8.3.4.3.Others
8.4.Europe
8.4.1.Europe Electrical Steel Market Analysis, By Type, 2021 to 2026
8.4.2.Europe Electrical Steel Market Analysis, By Application, 2021 to 2026
8.4.3.Europe Electrical Steel Market Analysis, By End-User Industry, 2021 to 2026
8.4.4.By Country
8.4.4.1.Germany
8.4.4.2.United Kingdom
8.4.4.3.France
8.4.4.4.Italy
8.4.4.5.Russia
8.4.4.6.Others
8.5.Middle East and Africa
8.5.1.Middle East and Africa Electrical Steel Market Analysis, By Type, 2021 to 2026
8.5.2.Middle East and Africa Electrical Steel Market Analysis, By Application, 2021 to 2026
8.5.3.Middle East and Africa Electrical Steel Market Analysis, By End-User Industry, 2021 to 2026
8.5.4.By Country
8.5.4.1.Saudi Arabia 
8.5.4.2.South Africa
8.5.4.3.Others
8.6.Asia Pacific
8.6.1.Asia Pacific Electrical Steel Market Analysis, By Type, 2021 to 2026
8.6.2.Asia Pacific Electrical Steel Market Analysis, By Application, 2021 to 2026
8.6.3.Asia Pacific Electrical Steel Market Analysis, By End-User Industry, 2021 to 2026
8.6.4.By Country
8.6.4.1.China
8.6.4.2.India
8.6.4.3.Japan
8.6.4.4.South Korea
8.6.4.5.Australia
8.6.4.6.Others
9.Competitive Environment and Analysis
9.1. Major Players and Strategy Analysis
9.2. Emerging Players and Market Lucrativeness
9.3. Mergers, Acquisitions, Agreements, and Collaborations
9.4. Vendor Competitiveness Matrix
10. Company Profiles
10.1.ArcelorMittal
10.2.POSCO
10.3.Baosteel Group Corporation 
10.4.Voestalpine AG
10.5.Nippon Steel & Sumitomo Metal Corporation 
10.6.ThyssenKrupp AG
10.7.Phoenix Mecano AG
10.8.NLMK (Novolipetsk Steel) 
10.9.Nicore Electrical Manufactory Co Ltd.
10.10.Leicong Industrial Co Ltd.
10.11.Cogent Power Limited
10.12.ATI
10.13.AK Steel Corporation

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