Global Electrical Steel Market Size, Share, and Trends Analysis Report – Industry Overview and Forecast to 2032

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Global Electrical Steel Market Size, Share, and Trends Analysis Report – Industry Overview and Forecast to 2032

  • Chemical and Materials
  • Upcoming Report
  • Jan 2025
  • Global
  • 350 Pages
  • Количество таблиц: 220
  • Количество рисунков: 60

Global Electrical Steel Market

Размер рынка в млрд долларов США

CAGR :  % Diagram

Chart Image USD 18.50 Billion USD 30.11 Billion 2024 2032
Diagram Прогнозируемый период
2025 –2032
Diagram Размер рынка (базовый год)
USD 18.50 Billion
Diagram Размер рынка (прогнозируемый год)
USD 30.11 Billion
Diagram CAGR
%
Diagram Основные игроки рынка
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>Global Electrical steel Market Segmentation, By Type (Grain Oriented Steel (CGRO), Non-Oriented Electrical Steel (CRNGO)), Thickness (0.23 MM, 0.27 MM, 0.30 MM, 0.35 MM, 0.5 MM, 0.65 MM, and Others), Core Losses (Less Than 0.9 w/kg, 0.90 w/kg to 0.99 w/kg, 1.00 w/kg to 1.29 w/kg, 1.30 w/kg to 1.39 w/kg, and above1.39 w/kg), Flux Density (Less Than 1.65 Tesla, 1.65 Tesla to 1.69 Tesla, 1.69 Tesla to 1.73 Tesla, 1.73 Tesla to 1.76 Tesla, and Above 1.76 Tesla), Application (Transformers, Inductors, Battery, Shunt Reactors, Convertors, Motors, Electrical Ballasts, Power Generators, Wound Cores, and Others), End-User (Energy and Power, Household Appliances, Automobiles, Building and Construction, and Others) – Industry Trends and Forecast to 2032

Electrical steel Market

Electrical steel Market Analysis

Electrical steel is a type of steel specialized in producing certain magnetic properties resulting in low core loss and high permeability. The electrical steel market is anticipated to witness significant growth in the future. The unique properties of electrical steel are mainly dependent on the proportion of silicon present in it The addition of silicon enhances the resistivity, improves permeability, and reduces hysteresis loss. However, factors such as capital investment high production cost of electrical steel may hinder the growth of the electrical steel market.

Electrical steel Market Size

Global electrical steel market size was valued at USD 18.50 billion in 2024 and is projected to reach USD 30.11 billion by 2032, with a CAGR of 6.28% during the forecast period of 2025 to 2032.

Report Scope and Market Segmentation       

Attributes

Electrical steel Key Market Insights

Segmentation

  • By Type: Grain Oriented Steel (CGRO), Non-Oriented Electrical Steel (CRNGO)
  • By Thickness: 0.23 MM, 0.27 MM, 0.30 MM, 0.35 MM, 0.5 MM, 0.65 MM, and Others
  • By Core Losses: Less Than 0.9 w/kg, 0.90 w/kg to 0.99 w/kg, 1.00 w/kg to 1.29 w/kg, 1.30 w/kg to 1.39 w/kg, and above1.39 w/kg
  • By Flux Density: Less Than 1.65 Tesla, 1.65 Tesla to 1.69 Tesla, 1.69 Tesla to 1.73 Tesla, 1.73 Tesla to 1.76 Tesla, and Above 1.76 Tesla
  • By Application: Transformers, Inductors, Battery, Shunt Reactors, Convertors, Motors, Electrical Ballasts, Power Generators, Wound Cores, and Others
  • By End User: Energy and Power, Household Appliances, Automobiles, Building and Construction, and Others

Countries Covered

U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia and New Zealand, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, United Arab Emirate, Saudi Arabia, Egypt, Israel, South Africa, Rest of Middle East and Africa

Key Market Players

ArcelorMittal (Luxembourg), POSCO (South Korea), Voestalpine AG (Austria), Baosteel (China), Nippon Steel Corporation (Japan), United States Steel Corporation (United States), SAIL (India), TATA Steel (India), Thyssenkrupp AG (Germany), JFE Steel Corporation (Japan), Esteel (South Korea), Hesteel Group Tangsteel Company (China) ChinaSteel (Taiwan), ESL Steel Ltd. (India), Jiangsu Shagang Group Su ICP (China)., Union Electric Steel Corporation (US), hebei puyang iron and steel group (china), Aperam (Luxemborg), Cleveland-Cliffs Inc. (US), Slovenian Steel Group (Slovenia) and Sko-Die Inc (US)

Market Opportunities

  • Increase in the number of emerging markets
  • Increasing number of product innovations
  • Usage of Pre-engineered Structures

Electrical steel Market Definition

Electrical steel is a soft magnetic material with advanced electrical properties used in several applications such as small relays, generators, electric motors, solenoids, among others. It is also known as lamination steel or transformer steel or silicon steel. Electrical steels are generally used soft magnetic material for power applications. Electrical steel consists of non-oriented electrical steels as well as grain-oriented electrical steels. These materials are used to transmit, generate, and deliver electrical energy and electrical equipment.

Electrical Steel Market Dynamics

This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:

Drivers

  • High consumption rate of electrical steel in transformers and motors

The growing global automobile production is a major factor which is driving the growth of the global electrical steel market. The use of electrical steel in automobiles improves fuel efficiency, which drives the consumption of electrical steel in the automotive industry. The growing demand for hybrid and electric is anticipated to further increase the growth of the electrical steel market during the forecast period. Rising consumption of electricity and the growing demand for industrial development are the major drivers expected to enhance the demand for transformers.

  • Rise in the number of power generation and transmission projects

Development can be attributed to the upsurge of power generation and transmission projects across the world. The demand for electrical steel has augmented surprisingly and consistently for various use across end-use industries.

  • Rise of the demand in automobile industry

Automobiles are made of a range of materials, including magnesium, copper, polymers, steel, aluminium, and carbon fibres. These are the primary materials used in the production of automobiles, components, and parts. Electrical steel's high electrical resistivity, high permeability, low magnetostriction, and low hysteresis loss make it a popular material for automotive manufacture.

  • Increase in the demand in manufacturing sector

Manufacturing sector is estimated to be the largest sector in the electrical steel market during the forecast period. This sector's growth is largely attributed to the growth of economies across the world, which is directly related to the growth of the manufacturing sector. Furthermore, the increasing industrialization in developed and developing markets is also expected to further drive the market for electrical steel.

Opportunities

  • Upcoming regulations and government support

Governmental bodies emphasize on the decrease of carbon emissions from automobiles. They support the use of electrical steel not only for electric vehicles but also for heavy construction equipment and passenger vehicles and conduct research and development (R&D) on new materials.

  • Usage of pre-engineered structures

Pre-engineered buildings (PEBs) use in the construction of metro stations, industrial buildings and warehouses which has opened up major opportunities for increase of electrical steel usage globally 

Restraints/ Challenges

There are some safety concerns that manufacturers have to address before using electrical steel. Safety rules have enhanced the use advanced electrical steel into motors, transformers, and insulators, thus posing a challenge for the electrical steel market. Temperature changes reduce the strength and magnetic characteristics, and fluctuations in raw material pricing have also impacted market expansion. As a result, manufacturers are encountering numerous issues in the manufacturing of electrical steel for various purposes and are unable to produce electrical steel in accordance with manufacturer demand. The high cost of raw materials limits the worldwide electrical steel market's expansion.

This electrical steel market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the electrical steel market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Electrical Steel Market Scope

The electrical steel market is segmented on the basis of type, thickness, core losses, flux density, application and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Type

  • Grain Oriented Steel (CGRO)
  • Non-Oriented Electrical Steel (CRNGO)

 Thickness

  • 0.23 MM
  • 0.27 MM
  • 0.30 MM
  • 0.35 MM
  • 0.5 MM
  • 0.65 MM
  • Others

 Core Losses

  • Less Than 0.9 w/kg
  • 0.90 w/kg to 0.99 w/kg
  • w/kg to 1.29 w/kg
  • 1.30 w/kg to 1.39 w/kg
  • Above1.39 w/kg

 Flux Density

  • Less Than 1.65 Tesla
  • 1.65 Tesla to 1.69 Tesla
  • 1.69 Tesla to 1.73 Tesla
  • 1.73 Tesla to 1.76 Tesla
  • Above 1.76 Tesla

 Application

  • Transformers
  • Inductors
  • Battery
  • Shunt Reactors
  • Convertors
  • Motors
  • Electrical Ballasts
  • Power Generators
  • Wound Cores
  • Others

 End-User

  • Energy and Power
  • Household Appliances
  • Automobiles
  • Building and Construction
  • Others

Electrical Steel Market Regional Analysis

The electrical steel market is analyzed and market size insights and trends are provided by country, type, thickness, core losses, flux density, application and end-user as referenced above.

The countries covered in the electrical steel market report are U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia and New Zealand, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, United Arab Emirate, Saudi Arabia, Egypt, Israel, South Africa, Rest of Middle East and Africa.

Asia-Pacific dominates the electrical steel market in terms of market share and revenue and will continue to show its dominance during the forecast period of 2025 to 2032. This is due to the rising demand for electrical steel in this region. The Asia-Pacific region dominates the electrical steel market, with China leading the way in terms of production and consumption of non-oriented electrical steel. Due of the ease of production and consumption of non-oriented electrical steel, China is leading the Asia-Pacific market.

During the projected period, Europe is expected to be the fastest developing region due to the rising demand of non-oriented electrical steel in commercial construction activities in this region.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.

Electrical Steel Market Share

The electrical steel market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to electrical steel market.

Electrical Steel Market Leaders Operating in the Market Are:

  • ArcelorMittal (Luxembourg)
  • POSCO (South Korea)
  • Voestalpine AG (Austria)
  • Baosteel (China)
  • Nippon Steel Corporation (Japan)
  • United States Steel Corporation (US)
  • SAIL (India)
  • TATA Steel (India)
  • Thyssenkrupp AG (Germany)
  • JFE Steel Corporation (Japan)
  • Esteel (South Korea)
  • Hesteel Group Tangsteel Company (China)
  • ChinaSteel (Taiwan)
  • ESL Steel Ltd. (India)
  • Jiangsu Shagang Group Su ICP (China)
  • Union Electric Steel Corporation (US)
  • Hebei puyang iron and steel group (china)
  • Aperam (Luxemborg) and Sko-Die Inc (US)
  • Cleveland-Cliffs Inc. (US)
  • Slovenian Steel Group (Slovenia)

Latest Developments in Electrical Steel Market

  • In 2020 May, voestalpine AG has introduced the two electrical sheet products for the automotive industry which are backlack-v and sovac . This expansion will help the business to rise revenue in the future

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Часто задаваемые вопросы

Рынок сегментирован на основе Global Electrical steel Market Segmentation, By Type (Grain Oriented Steel (CGRO), Non-Oriented Electrical Steel (CRNGO)), Thickness (0.23 MM, 0.27 MM, 0.30 MM, 0.35 MM, 0.5 MM, 0.65 MM, and Others), Core Losses (Less Than 0.9 w/kg, 0.90 w/kg to 0.99 w/kg, 1.00 w/kg to 1.29 w/kg, 1.30 w/kg to 1.39 w/kg, and above1.39 w/kg), Flux Density (Less Than 1.65 Tesla, 1.65 Tesla to 1.69 Tesla, 1.69 Tesla to 1.73 Tesla, 1.73 Tesla to 1.76 Tesla, and Above 1.76 Tesla), Application (Transformers, Inductors, Battery, Shunt Reactors, Convertors, Motors, Electrical Ballasts, Power Generators, Wound Cores, and Others), End-User (Energy and Power, Household Appliances, Automobiles, Building and Construction, and Others) – Industry Trends and Forecast to 2032 .
Размер Global Electrical Steel Market в 2024 году оценивался в 18.50 USD Billion долларов США.
Ожидается, что Global Electrical Steel Market будет расти со среднегодовым темпом роста (CAGR) 6.28% в течение прогнозируемого периода 2025–2032.
Отчет по рынку охватывает данные из U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia and New Zealand, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, United Arab Emirate, Saudi Arabia, Egypt, Israel, South Africa, Rest of Middle East and Africa.
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