Need help finding what you are looking for?
Contact Us
PUBLISHER: Grand View Research | PRODUCT CODE: 1908662
PUBLISHER: Grand View Research | PRODUCT CODE: 1908662
Electrical Steel Market Size, Share & Trends Analysis Report By Product (Grain Oriented Electrical Steel, Non-Grain Oriented Electrical Steel), By Application (Motors, Inductors), By Region, And Segment Forecasts, 2026 - 2033
PUBLISHED:
PAGES: 100 Pages
DELIVERY TIME: 2-10 business days
SELECT AN OPTION
Electrical Steel Market Summary
The global electrical steel market size was estimated at USD 31.00 billion in 2025 and is projected to reach USD 46.97 billion by 2033, at a CAGR of 5.5% from 2026 to 2033. Electrical steel continues to gain importance across generators, electric motors, relays, solenoids, and advanced electromagnetic devices that support modern power distribution and energy infrastructure.
These components form the backbone of grid systems, industrial machinery, and mobility technologies that rely on efficient magnetic performance. The U.S. remains the second-largest electricity generator globally. In 2024, the country produced nearly 4,300 TWh of electricity, reflecting steady grid expansion and rising consumption from electrified industries. This sustained generation activity strengthens demand for high-grade electrical steel used in transformers, distribution equipment, and power-handling machinery.
The electric vehicle industry delivers an even stronger push. Electrical steel offers magnetic characteristics that are essential for the rotors and stators of EV motors, helping minimize core losses and extend driving range. As global EV adoption accelerates, automakers increasingly prioritize premium electrical steel grades to enhance performance. In 2024, global electric car sales exceeded 17 million units, marking an all-time high and confirming the transition toward large-scale electrification. This surge in EV output directly elevates the use of electric motors, intensifying the requirement for both grain-oriented and non-oriented electrical steel.
Growth in the EV sector also demonstrates resilience. Despite uneven trends in the broader automotive market, EV sales in 2024 continued to climb sharply, strengthening long-term expectations for global electrification. Increasing production volumes across major EV manufacturing hubs encourage higher consumption of high-efficiency motor components, pushing electrical steel demand from mobility applications to record levels. With automakers scaling dedicated EV platforms, the material's importance across the automotive value chain becomes even more prominent.
Manufacturers of electrical steel are responding to this momentum with capacity expansion initiatives. Companies across Asia, Europe, and North America have invested in new cold-rolling, annealing, and coating lines to meet tightening efficiency standards and larger order volumes. In India, earlier moves toward capacity building have evolved into concrete project developments as demand from EVs, power transformers, and industrial machinery continues to grow. Strategic partnerships focused on technology transfer and production scaling highlight the sector's shift toward regional self-sufficiency.
Global Electrical Steel Market Report Segmentation
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2021 to 2033. For this study, Grand View Research has segmented the global electrical steel market report based on product, application, and region.
- Product Outlook (Volume, Kilotons; Revenue, USD Million, 2021 - 2033)
- Grain Oriented Electrical Steel
- Non-Grain Oriented Electrical Steel
- Application Outlook (Volume, Kilotons; Revenue, USD Million, 2021 - 2033)
- Transformers
- Motors
- Inductors
- Others
- Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2021 - 2033)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- Russia
- France
- Asia Pacific
- China
- India
- Japan
- Latin America
- Brazil
- Middle East & Africa
- Iran
Product Code: GVR-4-68038-029-3
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Market Segmentation & Scope
- 1.2. Market Definition
- 1.3. Information Procurement
- 1.3.1. Information Analysis
- 1.3.2. Data Analysis Models
- 1.3.3. Market Formulation & Data Visualization
- 1.3.4. Data Validation & Publishing
- 1.4. Research Scope and Assumptions
- 1.4.1. List of Data Sources
Chapter 2. Executive Summary
- 2.1. Market Outlook
- 2.2. Segmental Outlook
- 2.3. Competitive Outlook
Chapter 3. Market Variables, Trends, and Scope
- 3.1. Market Outlook
- 3.2. Industry Value Chain Analysis
- 3.3. Technology Overview
- 3.4. Regulatory Framework
- 3.5. Market Dynamics
- 3.5.1. Market Driver Analysis
- 3.5.2. Market Restraint Analysis
- 3.6. Industry Trends
- 3.6.1. ESG Analysis
- 3.6.2. Economic Trends
- 3.7. Porter's Five Forces Analysis
- 3.7.1. Bargaining Power of Suppliers
- 3.7.2. Bargaining Power of Buyers
- 3.7.3. Threat of Substitution
- 3.7.4. Threat of New Entrants
- 3.7.5. Competitive Rivalry
- 3.8. PESTLE Analysis
- 3.8.1. Political
- 3.8.2. Economic
- 3.8.3. Social Landscape
- 3.8.4. Technology
- 3.8.5. Environmental
- 3.8.6. Legal
Chapter 4. Electrical Steel Market: Product Estimates & Trend Analysis
- 4.1. Electrical Steel Market: Product Movement Analysis, 2025 & 2033
- 4.2. Grain Oriented Electrical Steel
- 4.2.1. Market estimates and forecasts, 2021 - 2033 (USD Million) (Kilotons)
- 4.3. Non-Grain Oriented Electrical Steel
- 4.3.1. Market estimates and forecasts, 2021 - 2033 (USD Million) (Kilotons)
Chapter 5. Electrical Steel Market: Application Estimates & Trend Analysis
- 5.1. Electrical Steel Market: Application Movement Analysis, 2025 & 2033
- 5.2. Transformers
- 5.2.1. Market estimates and forecasts, 2021 - 2033 (USD Million) (Kilotons)
- 5.3. Motors
- 5.3.1. Market estimates and forecasts, 2021 - 2033 (USD Million) (Kilotons)
- 5.4. Inductors
- 5.4.1. Market estimates and forecasts, 2021 - 2033 (USD Million) (Kilotons)
- 5.5. Others
- 5.5.1. Market estimates and forecasts, 2021 - 2033 (USD Million) (Kilotons)
Chapter 6. Electrical Steel Market: Regional Estimates & Trend Analysis
- 6.1. Regional Analysis, 2025 & 2033
- 6.2. North America
- 6.2.1. Market estimates and forecasts, 2021 - 2033 (USD Million) (Kilotons)
- 6.2.2. Market estimates and forecasts, by application, 2021 - 2033 (USD Million) (Kilotons)
- 6.2.3. Market estimates and forecasts, by product, 2021 - 2033 (USD Million) (Kilotons)
- 6.2.4. U.S.
- 6.2.4.1. Market estimates and forecasts, 2021 - 2033 (USD Million) (Kilotons)
- 6.2.4.2. Market estimates and forecasts, by application, 2021 - 2033 (USD Million) (Kilotons)
- 6.2.4.3. Market estimates and forecasts, by product, 2021 - 2033 (USD Million) (Kilotons)
- 6.2.5. Canada
- 6.2.5.1. Market estimates and forecasts, 2021 - 2033 (USD Million) (Kilotons)
- 6.2.5.2. Market estimates and forecasts, by application, 2021 - 2033 (USD Million) (Kilotons)
- 6.2.5.3. Market estimates and forecasts, by product, 2021 - 2033 (USD Million) (Kilotons)
- 6.2.6. Mexico
- 6.2.6.1. Market estimates and forecasts, 2021 - 2033 (USD Million) (Kilotons)
- 6.2.6.2. Market estimates and forecasts, by application, 2021 - 2033 (USD Million) (Kilotons)
- 6.2.6.3. Market estimates and forecasts, by product, 2021 - 2033 (USD Million) (Kilotons)
- 6.3. Europe
- 6.3.1. Market estimates and forecasts, 2021 - 2033 (USD Million) (Kilotons)
- 6.3.2. Market estimates and forecasts, by application, 2021 - 2033 (USD Million) (Kilotons)
- 6.3.3. Market estimates and forecasts, by product, 2021 - 2033 (USD Million) (Kilotons)
- 6.3.4. Germany
- 6.3.4.1. Market estimates and forecasts, 2021 - 2033 (USD Million) (Kilotons)
- 6.3.4.2. Market estimates and forecasts, by application, 2021 - 2033 (USD Million) (Kilotons)
- 6.3.4.3. Market estimates and forecasts, by product, 2021 - 2033 (USD Million) (Kilotons)
- 6.3.5. Russia
- 6.3.5.1. Market estimates and forecasts, 2021 - 2033 (USD Million) (Kilotons)
- 6.3.5.2. Market estimates and forecasts, by application, 2021 - 2033 (USD Million) (Kilotons)
- 6.3.5.3. Market estimates and forecasts, by product, 2021 - 2033 (USD Million) (Kilotons)
- 6.3.6. France
- 6.3.6.1. Market estimates and forecasts, 2021 - 2033 (USD Million) (Kilotons)
- 6.3.6.2. Market estimates and forecasts, by application, 2021 - 2033 (USD Million) (Kilotons)
- 6.3.6.3. Market estimates and forecasts, by product, 2021 - 2033 (USD Million) (Kilotons)
- 6.4. Asia Pacific
- 6.4.1. Market estimates and forecasts, 2021 - 2033 (USD Million) (Kilotons)
- 6.4.2. Market estimates and forecasts, by application, 2021 - 2033 (USD Million) (Kilotons)
- 6.4.3. Market estimates and forecasts, by product, 2021 - 2033 (USD Million) (Kilotons)
- 6.4.4. China
- 6.4.4.1. Market estimates and forecasts, 2021 - 2033 (USD Million) (Kilotons)
- 6.4.4.2. Market estimates and forecasts, by application, 2021 - 2033 (USD Million) (Kilotons)
- 6.4.4.3. Market estimates and forecasts, by product, 2021 - 2033 (USD Million) (Kilotons)
- 6.4.5. India
- 6.4.5.1. Market estimates and forecasts, 2021 - 2033 (USD Million) (Kilotons)
- 6.4.5.2. Market estimates and forecasts, by application, 2021 - 2033 (USD Million) (Kilotons)
- 6.4.5.3. Market estimates and forecasts, by product, 2021 - 2033 (USD Million) (Kilotons)
- 6.4.6. Japan
- 6.4.6.1. Market estimates and forecasts, 2021 - 2033 (USD Million) (Kilotons)
- 6.4.6.2. Market estimates and forecasts, by application, 2021 - 2033 (USD Million) (Kilotons)
- 6.4.6.3. Market estimates and forecasts, by product, 2021 - 2033 (USD Million) (Kilotons)
- 6.5. Latin America
- 6.5.1. Market estimates and forecasts, 2021 - 2033 (USD Million) (Kilotons)
- 6.5.2. Market estimates and forecasts, by application, 2021 - 2033 (USD Million) (Kilotons)
- 6.5.3. Market estimates and forecasts, by product, 2021 - 2033 (USD Million) (Kilotons)
- 6.5.4. Brazil
- 6.5.4.1. Market estimates and forecasts, 2021 - 2033 (USD Million) (Kilotons)
- 6.5.4.2. Market estimates and forecasts, by application, 2021 - 2033 (USD Million) (Kilotons)
- 6.5.4.3. Market estimates and forecasts, by product, 2021 - 2033 (USD Million) (Kilotons)
- 6.6. Middle East & Africa
- 6.6.1. Market estimates and forecasts, 2021 - 2033 (USD Million) (Kilotons)
- 6.6.2. Market estimates and forecasts, by application, 2021 - 2033 (USD Million) (Kilotons)
- 6.6.3. Market estimates and forecasts, by product, 2021 - 2033 (USD Million) (Kilotons)
- 6.6.4. Iran
- 6.6.4.1. Market estimates and forecasts, 2021 - 2033 (USD Million) (Kilotons)
- 6.6.4.2. Market estimates and forecasts, by application, 2021 - 2033 (USD Million) (Kilotons)
- 6.6.4.3. Market estimates and forecasts, by product, 2021 - 2033 (USD Million) (Kilotons)
Chapter 7. Competitive Landscape
- 7.1. Recent Developments & Impact Analysis, By Key Market Participants
- 7.2. Company Categorization
- 7.3. Heat Map Analysis
- 7.4. Vendor Landscape
- 7.4.1. List of distributors
- 7.5. List of prospective end-users
- 7.6. Strategy Initiatives
- 7.7. Company Profiles/Listing
- 7.7.1. Nippon Steel Corporation
- 7.7.1.1. Company Overview
- 7.7.1.2. Financial Performance
- 7.7.1.3. Product Benchmarking
- 7.7.2. POSCO
- 7.7.2.1. Company Overview
- 7.7.2.2. Financial Performance
- 7.7.2.3. Product Benchmarking
- 7.7.3. Voestalpine AG
- 7.7.3.1. Company Overview
- 7.7.3.2. Financial Performance
- 7.7.3.3. Product Benchmarking
- 7.7.4. ArcelorMittal
- 7.7.4.1. Company Overview
- 7.7.4.2. Financial Performance
- 7.7.4.3. Product Benchmarking
- 7.7.5. JFE Steel Corporation
- 7.7.5.1. Company Overview
- 7.7.5.2. Financial Performance
- 7.7.5.3. Product Benchmarking
- 7.7.6. Baosteel
- 7.7.6.1. Company Overview
- 7.7.6.2. Financial Performance
- 7.7.6.3. Product Benchmarking
- 7.7.7. Shougang Group
- 7.7.7.1. Company Overview
- 7.7.7.2. Financial Performance
- 7.7.7.3. Product Benchmarking
- 7.7.8. Thyssenkrupp Steel Europe
- 7.7.8.1. Company Overview
- 7.7.8.2. Financial Performance
- 7.7.8.3. Product Benchmarking
- 7.7.9. Tata Steel
- 7.7.9.1. Company Overview
- 7.7.9.2. Financial Performance
- 7.7.9.3. Product Benchmarking
- 7.7.10. China Steel Corporation
- 7.7.10.1. Company Overview
- 7.7.10.2. Financial Performance
- 7.7.10.3. Product Benchmarking
- 7.7.1. Nippon Steel Corporation
Product Code: GVR-4-68038-029-3
List of Tables
- TABLE 1 Electrical steel market estimates & forecasts, 2021 - 2033 (USD Million) (Kilotons)
- TABLE 2 Electrical steel market estimates and forecasts, in grain oriented electrical steel, 2021 - 2033 (USD Million) (Kilotons)
- TABLE 3 Electrical steel market estimates and forecasts, in non-grain oriented electrical steel, 2021 - 2033 (USD Million) (Kilotons)
- TABLE 4 Electrical steel market estimates and forecasts, in transformers, 2021 - 2033 (USD Million) (Kilotons)
- TABLE 5 Electrical steel market estimates and forecasts, in motors, 2021 - 2033 (USD Million) (Kilotons)
- TABLE 6 Electrical steel market estimates and forecasts, in inductors, 2021 - 2033 (USD Million) (Kilotons)
- TABLE 7 Electrical steel market estimates and forecasts, in others, 2021 - 2033 (USD Million) (Kilotons)
- TABLE 8 North America electrical steel market estimates & forecasts, 2021 - 2033 (USD Million) (Kilotons)
- TABLE 9 North America electrical steel market estimates & forecasts, by application, 2021 - 2033 (USD Million) (Kilotons)
- TABLE 10 North America electrical steel market estimates & forecasts, by product, 2021 - 2033 (USD Million) (Kilotons)
- TABLE 11 U.S. electrical steel market estimates & forecasts, 2021 - 2033 (USD Million) (Kilotons)
- TABLE 12 U.S. electrical steel market estimates & forecasts, by application, 2021 - 2033 (USD Million) (Kilotons)
- TABLE 13 U.S. electrical steel market estimates & forecasts, by product, 2021 - 2033 (USD Million) (Kilotons)
- TABLE 14 Canada electrical steel market estimates & forecasts, 2021 - 2033 (USD Million) (Kilotons)
- TABLE 15 Canada electrical steel market estimates & forecasts, by application, 2021 - 2033 (USD Million) (Kilotons)
- TABLE 16 Canada electrical steel market estimates & forecasts, by product, 2021 - 2033 (USD Million) (Kilotons)
- TABLE 17 Mexico electrical steel market estimates & forecasts, 2021 - 2033 (USD Million) (Kilotons)
- TABLE 18 Mexico electrical steel market estimates & forecasts, by application, 2021 - 2033 (USD Million) (Kilotons)
- TABLE 19 Mexico electrical steel market estimates & forecasts, by product, 2021 - 2033 (USD Million) (Kilotons)
- TABLE 20 Europe electrical steel market estimates & forecasts, 2021 - 2033 (USD Million) (Kilotons)
- TABLE 21 Europe electrical steel market estimates & forecasts, by application, 2021 - 2033 (USD Million) (Kilotons)
- TABLE 22 Europe electrical steel market estimates & forecasts, by product, 2021 - 2033 (USD Million) (Kilotons)
- TABLE 23 Germany electrical steel market estimates & forecasts, 2021 - 2033 (USD Million) (Kilotons)
- TABLE 24 Germany electrical steel market estimates & forecasts, by application, 2021 - 2033 (USD Million) (Kilotons)
- TABLE 25 Germany electrical steel market estimates & forecasts, by product, 2021 - 2033 (USD Million) (Kilotons)
- TABLE 26 France electrical steel market estimates & forecasts, 2021 - 2033 (USD Million) (Kilotons)
- TABLE 27 France electrical steel market estimates & forecasts, by application, 2021 - 2033 (USD Million) (Kilotons)
- TABLE 28 France electrical steel market estimates & forecasts, by product, 2021 - 2033 (USD Million) (Kilotons)
- TABLE 29 Russia electrical steel market estimates & forecasts, 2021 - 2033 (USD Million) (Kilotons)
- TABLE 30 Russia electrical steel market estimates & forecasts, by application, 2021 - 2033 (USD Million) (Kilotons)
- TABLE 31 Russia electrical steel market estimates & forecasts, by product, 2021 - 2033 (USD Million) (Kilotons)
- TABLE 32 Asia Pacific electrical steel market estimates & forecasts, 2021 - 2033 (USD Million) (Kilotons)
- TABLE 33 Asia Pacific electrical steel market estimates & forecasts, by application, 2021 - 2033 (USD Million) (Kilotons)
- TABLE 34 Asia Pacific electrical steel market estimates & forecasts, by product, 2021 - 2033 (USD Million) (Kilotons)
- TABLE 35 China electrical steel market estimates & forecasts, 2021 - 2033 (USD Million) (Kilotons)
- TABLE 36 China electrical steel market estimates & forecasts, by application, 2021 - 2033 (USD Million) (Kilotons)
- TABLE 37 China electrical steel market estimates & forecasts, by product, 2021 - 2033 (USD Million) (Kilotons)
- TABLE 38 India electrical steel market estimates & forecasts, 2021 - 2033 (USD Million) (Kilotons)
- TABLE 39 India electrical steel market estimates & forecasts, by application, 2021 - 2033 (USD Million) (Kilotons)
- TABLE 40 India electrical steel market estimates & forecasts, by product, 2021 - 2033 (USD Million) (Kilotons)
- TABLE 41 Japan electrical steel market estimates & forecasts, 2021 - 2033 (USD Million) (Kilotons)
- TABLE 42 Japan electrical steel market estimates & forecasts, by application, 2021 - 2033 (USD Million) (Kilotons)
- TABLE 43 Japan electrical steel market estimates & forecasts, by product, 2021 - 2033 (USD Million) (Kilotons)
- TABLE 44 Japan electrical steel market estimates & forecasts, by application, 2021 - 2033 (USD Million) (Kilotons)
- TABLE 45 Latin America electrical steel market estimates & forecasts, 2021 - 2033 (USD Million) (Kilotons)
- TABLE 46 Latin America electrical steel market estimates & forecasts, by application, 2021 - 2033 (USD Million) (Kilotons)
- TABLE 47 Latin America electrical steel market estimates & forecasts, by product, 2021 - 2033 (USD Million) (Kilotons)
- TABLE 48 Brazil electrical steel market estimates & forecasts, 2021 - 2033 (USD Million) (Kilotons)
- TABLE 49 Brazil electrical steel market estimates & forecasts, by application, 2021 - 2033 (USD Million) (Kilotons)
- TABLE 50 Brazil electrical steel market estimates & forecasts, by product, 2021 - 2033 (USD Million) (Kilotons)
- TABLE 51 Middle East & Africa electrical steel market estimates & forecasts, 2021 - 2033 (USD Million) (Kilotons)
- TABLE 52 Middle East & Africa electrical steel market estimates & forecasts, by application, 2021 - 2033 (USD Million) (Kilotons)
- TABLE 53 Middle East & Africa electrical steel market estimates & forecasts, by product, 2021 - 2033 (USD Million) (Kilotons)
- TABLE 54 Iran electrical steel market estimates & forecasts, 2021 - 2033 (USD Million) (Kilotons)
- TABLE 55 Iran electrical steel market estimates & forecasts, by application, 2021 - 2033 (USD Million) (Kilotons)
- TABLE 56 Iran electrical steel market estimates & forecasts, by product, 2021 - 2033 (USD Million) (Kilotons)
- TABLE 57 UAE electrical steel market estimates & forecasts, 2021 - 2033 (USD Million) (Kilotons)
- TABLE 58 UAE electrical steel market estimates & forecasts, by application, 2021 - 2033 (USD Million) (Kilotons)
- TABLE 59 UAE electrical steel market estimates & forecasts, by product, 2021 - 2033 (USD Million) (Kilotons)
List of Figures
- FIG. 1 Market segmentation
- FIG. 2 Information procurement
- FIG. 3 Data analysis models
- FIG. 4 Market formulation and validation
- FIG. 5 Market snapshot
- FIG. 6 Segmental outlook
- FIG. 7 Competitive outlook
- FIG. 8 Electrical steel market outlook, 2021 - 2033 (USD Million) (Kilotons)
- FIG. 9 Value chain analysis
- FIG. 10 Market dynamics
- FIG. 11 Porter's analysis
- FIG. 12 PESTEL analysis
- FIG. 13 Electrical steel market, by product: Key takeaways
- FIG. 14 Electrical steel market, by product: Market share, 2025 & 2033
- FIG. 15 Electrical steel market, by application: Key takeaways
- FIG. 16 Electrical steel market, by application: Market share, 2025 & 2033
- FIG. 17 Electrical steel market: Regional analysis, 2024
- FIG. 18 Electrical steel market, by region: Key takeaways
Have a question?
SELECT AN OPTION
Have a question?
Questions? Please give us a call or visit the contact form.