"Electrical Steel Market Size And Forecast by 2032

According to Data Bridge Market Research 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.

Our comprehensive Electrical Steel Market report is ready with the latest trends, growth opportunities, and strategic analysis. https://www.databridgemarketresearch.com/reports/global-electrical-steel-market

**Segments**

- **Type:** The electrical steel market can be segmented based on type into grain-oriented and non-grain oriented electrical steel. Grain-oriented electrical steel is widely used in transformers due to its high magnetic induction and low core loss properties, while non-grain oriented electrical steel is utilized in motors, generators, and other electrical equipment.

- **Application:** Based on application, the market can be divided into transformers, motors, inductors, and others. Transformers are the largest application segment for electrical steel due to the increasing demand for electricity worldwide, leading to the growth of the power industry.

- **End-Use Industry:** The end-use industry segment includes energy, automotive, manufacturing, and others. The energy sector is a significant consumer of electrical steel due to the rising demand for electricity, especially in emerging economies.

**Market Players**

- **ArcelorMittal:** A leading player in the electrical steel market, ArcelorMittal offers a range of electrical steel products suitable for various applications in the energy and automotive sectors.

- **Nippon Steel Corporation:** Nippon Steel Corporation is a key market player known for its high-quality electrical steel products that cater to the specific requirements of the power industry.

- **Thyssenkrupp AG:** Thyssenkrupp AG is actively involved in the production of electrical steel for transformers and motors, providing innovative solutions to meet the evolving needs of the market.

- **Baowu Steel Group Corporation Limited:** Baowu Steel Group Corporation Limited is another prominent player in the electrical steel market, offering a diverse portfolio of products for different end-use industries.

The global electrical steel market is witnessing significant growth due to the increasing demand for electricity worldwide, leading to the expansion of the power sector. The market is segmented based on type, application, and end-use industry. Grain-oriented electrical steel is preferred in transformers, while non-grain oriented electrical steel finds application in motors and generators. The energy sector is a major consumer of electrical steel, driving market growth. Key market players such as ArcelorMittal, Nippon Steel Corporation, Thyssenkrupp AG, and Baowu Steel Group Corporation Limited are actively contributing to the market with high-quality products and innovative solutions.

https://www.databridgemarketresearch.com/reports/global-electrical-steel-market . The electrical steel market is poised for continued growth as the global demand for electricity rises, driven by factors such as urbanization, industrialization, and the increasing adoption of electric vehicles. This growing demand for electricity necessitates the use of efficient electrical steel materials in transformers, motors, and other electrical equipment. The market is expected to witness significant advancements in technology, leading to the development of high-performance electrical steel products that offer enhanced efficiency and reliability in various applications. As market players strive to meet the evolving needs of end-use industries such as energy, automotive, and manufacturing, there is a growing focus on the development of customized solutions and innovative products to enhance overall operational efficiency and energy conservation.

In terms of types of electrical steel, the market is divided into grain-oriented and non-grain-oriented categories. Grain-oriented electrical steel, favored for its high magnetic induction and low core loss properties, is predominantly used in transformers to facilitate efficient power transmission and distribution. On the other hand, non-grain-oriented electrical steel is utilized in motors, generators, and other electrical equipment where low iron loss and high magnetic permeability are essential for optimal performance. The distinctive properties of each type of electrical steel cater to specific applications across various industries, highlighting the importance of product differentiation and customization in meeting market demands.

The application segment of the electrical steel market plays a crucial role in driving market growth, with transformers emerging as the largest application segment. The increasing need for energy efficiency, coupled with the expansion of the power industry worldwide, fuels the demand for high-quality electrical steel materials for transformer manufacturing. Motors, inductors, and other applications also contribute to the demand for electrical steel, showcasing a diverse range of uses across different sectors. The versatility of electrical steel in various applications underscores its significance in facilitating efficient energy conversion and transmission processes, thereby supporting the growth of the global electrical steel market.

End-use industries such as energy, automotive, and manufacturing are key drivers of demand for electrical steel, with the energy sector emerging as a significant consumer due to the escalating electricity requirements globally. The automotive industry's shift towards electric vehicles further amplifies the demand for high-performance electrical steel materials to support the development of advanced electric propulsion systems. In the manufacturing sector, the utilization of electrical steel in motors, generators, and other equipment enhances operational efficiency and contributes to overall productivity gains. The diverse applications of electrical steel across different industries underscore its critical role in enabling sustainable energy solutions and driving technological advancements in the market.

In conclusion, the global electrical steel market is characterized by robust growth prospects driven by the increasing demand for electricity and the expansion of end-use industries such as energy, automotive, and manufacturing. Market players continue to innovate and develop advanced electrical steel products to address evolving market needs and enhance overall efficiency in various applications. As technological advancements and stringent regulations shape the landscape of the electrical steel market, there is a growing emphasis on sustainability, energy conservation, and product differentiation to maintain a competitive edge in the market. The future of the electrical steel market holds promising opportunities for innovation, collaboration, and growth as industry players strive to address the evolving requirements of a rapidly changing energy landscape.**Segments**

Global Electrical steel Market, 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

In the global electrical steel market, the segmentation by type includes Grain Oriented Steel (CGRO) and Non-Oriented Electrical Steel (CRNGO). The thickness of the electrical steel products varies, with options such as 0.23 MM, 0.27 MM, 0.30 MM, 0.35 MM, 0.5 MM, 0.65 MM, and others. Core losses are categorized based on different levels, from less than 0.9 w/kg to above 1.39 w/kg. Flux density also plays a crucial role in electrical steel classification, ranging from less than 1.65 Tesla to above 1.76 Tesla. Applications of electrical steel include transformers, inductors, batteries, shunt reactors, converters, motors, electrical ballasts, power generators, wound cores, and others, catering to various industries. End-users span across energy and power sectors, household appliances, automobiles, building and construction, and other sectors, demonstrating the extensive utility of electrical steel across diverse applications.

**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)
- Sko-Die Inc (US)

The global electrical steel market is characterized by a diverse range of market players, each contributing uniquely to the industry with their high-quality products and innovative solutions. Companies such as ArcelorMittal, Nippon Steel Corporation, and Thyssenkrupp AG are market leaders known for their advanced electrical steel offerings tailored to specific industry requirements. The presence of key players like Baosteel, TATA Steel, and JFE Steel Corporation further solidifies the competitive landscape, driving technological advancements and market growth. With a focus on product differentiation, customized solutions, and sustainability, these market players are poised to meet the evolving demands of end-use industries and enhance the overall efficiency of electrical steel products worldwide. The collaboration and innovation within the market ensure a sustainable and competitive future for the global electrical steel industry.

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The market is highly fragmented, with a mix of global and regional players competing for market share. To Learn More About the Global Trends Impacting the Future of Top 10 Companies in Electrical Steel Market :   https://www.databridgemarketresearch.com/reports/global-electrical-steel-market/companies

 Key Questions Answered by the Global Electrical Steel Market Report:

• What is the current state of the Electrical Steel Market, and how has it evolved?
• What are the key drivers behind the growth of the Electrical Steel Market?
• What challenges and barriers do businesses in the Electrical Steel Market face?
• How are technological innovations impacting the Electrical Steel Market?
• What emerging trends and opportunities should businesses be aware of in the Electrical Steel Market?

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