Grain Oriented Electrical Steel Global Market Report 2026

Grain-oriented electrical steel stands as a specialized steel variant crucial to the manufacturing of energy-efficient transformers and large, high-performance generators. Its primary applications include usage in instrument and current transformers, power, and high-voltage direct current transmission cores.

The key product categories within grain-oriented electrical steel comprise high magnetic strength, conventional, and domain refinement. High magnetic strength steel denotes an alloy steel type distinguished by superior mechanical properties and heightened corrosion resistance compared to standard carbon steel. These alloys find application in various sectors, including transformers, power generators, motors, and other related uses. The primary end-users of grain-oriented electrical steel include the automotive sector, manufacturing, energy generation, household appliances, and others.

Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report's Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.

Tariffs have affected the grain-oriented electrical steel market by raising costs of imported raw materials, specialty alloys, and steel processing equipment essential for transformer and generator core production. Power generation, manufacturing, and automotive sectors in Asia-Pacific, North America, and Europe face higher procurement costs and extended delivery timelines. However, tariffs are also supporting investments in domestic steel manufacturing, encouraging localized processing of high-efficiency grades, and driving innovation that strengthens long-term supply chain stability.

The grain-oriented electrical steel market research report is one of a series of new reports from The Business Research Company that provides grain-oriented electrical steel market statistics, including grain-oriented electrical steel industry global market size, regional shares, competitors with a grain-oriented electrical steel market share, detailed grain-oriented electrical steel market segments, market trends and opportunities, and any further data you may need to thrive in the grain-oriented electrical steel industry. This grain-oriented electrical steel market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The grain oriented electrical steel market size has grown steadily in recent years. It will grow from $7.41 billion in 2025 to $7.59 billion in 2026 at a compound annual growth rate (CAGR) of 2.3%. The growth in the historic period can be attributed to growing demand for power transformers, early adoption in hvdc transmission projects, expansion of conventional electrical steel production, reliance on grain-oriented steel in utility applications, increased use in industrial generators.

The grain oriented electrical steel market size is expected to see steady growth in the next few years. It will grow to $8.58 billion in 2030 at a compound annual growth rate (CAGR) of 3.1%. The growth in the forecast period can be attributed to rising demand for energy-efficient transformer cores, expansion of renewable energy transmission networks, development of high-performance electrical steel grades, modernization of grid infrastructure, increasing adoption of advanced domain-refined materials. Major trends in the forecast period include adoption of sustainable transformer core materials, expansion of electrification infrastructure, advancement of intelligent steel processing systems, integration of smart grid-ready electrical steels, development of robotics-enabled steel manufacturing.

The growth of the grain-oriented electrical steel (GOES) market is expected to be driven by increasing industrialization. Industrialization, characterized by the adoption of industrial production methods, leads to a higher demand for electrical power and energy infrastructure. Efficient and reliable electrical systems are essential for powering machinery, equipment, and various industrial operations. For example, industrial production in China rose by 4.5% in August 2023 compared to the previous year, reflecting the ongoing industrialization in the country. The increasing demand for electrical steel in industrial applications is a key factor contributing to the growth of the grain-oriented electrical steel market.

Leading companies in the grain-oriented electrical steel market are forming strategic partnerships and collaborations to maintain their market position. These partnerships involve cooperative relationships between two or more organizations aimed at achieving specific business goals. For example, in February 2024, JSW Steel Limited, a steel company based in India, collaborated with JFE Steel Corporation, a Japanese steel company. This alliance aims to manufacture grain-oriented electrical steel (GOES) in India, with full production set to begin by 2027. This joint venture not only meets current market demands but also strategically positions both JSW Steel and JFE Steel for future growth in a sector increasingly prioritizing sustainability and energy efficiency.

In October 2024, JFE Steel Corporation, a Japan-based integrated steel producer, through its joint venture JSW JFE Electrical Steel Private Limited, acquired thyssenkrupp Electrical Steel India Private Limited for approximately $485 million (₹40.5 billion). Through this acquisition, the JFE Steel and JSW Steel consortium aims to establish an integrated manufacturing system for grain-oriented electrical steel sheets (GOES) in India to meet the country's rising demand for power generation and transmission while entering the market earlier than initially planned. thyssenkrupp Electrical Steel India is an India-based company that manufactures and sells cold-rolled grain-oriented electrical steel sheets, with its facility located in Nashik, Maharashtra.

Major companies operating in the grain oriented electrical steel market are Thyssenkrupp AG, POSCO International Corporation, Nippon Steel Corporation, JFE Steel Corporation, NLMK Group, Baowu Group, AK Steel Holdings Corporation, Tata Steel Limited, ArcelorMittal, Shougang Group Co Ltd., Cleveland-Cliffs Inc., Aperam SA, TC Metal Co, Mapes & Sprowl Steel LLC, Tempel Steel, China Baowu Steel Group Corp Ltd., Gerdau S.A., Allegheny Technologies Incorporated, United States Steel Corporation, Voestalpine Group, CSC Steel Sdn. Bhd., Kobe Steel Ltd., Sumitomo Metal Industries Ltd., Baosteel Group Corporation, Jindal Steel and Power Limited, JSW Steel Ltd., Essar Steel, Cogent Power Limited, Ansteel Group Corporation Limited, Baoshan Iron & Steel Co. Ltd., Benxi Iron and Steel Group Co. Ltd., Hebei Iron and Steel Group Co. Ltd., Hunan Valin Steel Co. Ltd., Jiangsu Shagang Group Co. Ltd., Maanshan Iron & Steel Company Limited, Shandong Iron and Steel Group Co. Ltd., Tata Iron and Steel Company Limited, World Industrial Specialty Company Inc, Wuhan Iron and Steel (Group) Corp.

Asia-Pacific was the largest region in the global grain-oriented electrical steel market in 2025. The regions covered in the grain oriented electrical steel market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the grain oriented electrical steel market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The grain-oriented electrical steel market consists of sales of wound cores, laminations, cold-rolled steel, goss texture, metal cladding, and silicon steels. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Grain Oriented Electrical Steel Market Global Report 2026 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses grain oriented electrical steel market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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Where is the largest and fastest growing market for grain oriented electrical steel ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward, including technological disruption, regulatory shifts, and changing consumer preferences? The grain oriented electrical steel market global report from the Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, total addressable market (TAM), market attractiveness score (MAS), competitive landscape, market shares, company scoring matrix, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

• The market characteristics section of the report defines and explains the market. This section also examines key products and services offered in the market, evaluates brand-level differentiation, compares product features, and highlights major innovation and product development trends.
• The supply chain analysis section provides an overview of the entire value chain, including key raw materials, resources, and supplier analysis. It also provides a list competitor at each level of the supply chain.
• The updated trends and strategies section analyses the shape of the market as it evolves and highlights emerging technology trends such as digital transformation, automation, sustainability initiatives, and AI-driven innovation. It suggests how companies can leverage these advancements to strengthen their market position and achieve competitive differentiation.
• The regulatory and investment landscape section provides an overview of the key regulatory frameworks, regularity bodies, associations, and government policies influencing the market. It also examines major investment flows, incentives, and funding trends shaping industry growth and innovation.
• The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
• The forecasts are made after considering the major factors currently impacting the market. These include the technological advancements such as AI and automation, Russia-Ukraine war, trade tariffs (government-imposed import/export duties), elevated inflation and interest rates.
• The total addressable market (TAM) analysis section defines and estimates the market potential compares it with the current market size, and provides strategic insights and growth opportunities based on this evaluation.
• The market attractiveness scoring section evaluates the market based on a quantitative scoring framework that considers growth potential, competitive dynamics, strategic fit, and risk profile. It also provides interpretive insights and strategic implications for decision-makers.
• Market segmentations break down the market into sub markets.
• The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth.
• Expanded geographical coverage includes Taiwan and Southeast Asia, reflecting recent supply chain realignments and manufacturing shifts in the region. This section analyzes how these markets are becoming increasingly important hubs in the global value chain.
• The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
• The company scoring matrix section evaluates and ranks leading companies based on a multi-parameter framework that includes market share or revenues, product innovation, and brand recognition.

Scope

• Markets Covered:1) By Type: High Magnetic Strength; Conventional; Domain Refinement
• 2) By Application: Transformer; Power Generator; Motor; Other Applications
• 3) By End-User: Electrical Steel For Automobiles; Electrical Steel For Manufacturing; Electrical Steel For Energy Generation; Electrical Steel For Household Appliances; Electrical Steel For Other End Uses
• Subsegments:
• 1) By High Magnetic Strength: High Performance Grades; Ultra-Low Loss Grades; High Efficiency Grades
• 2) By Conventional: Standard Grades; Basic Grades For Transformer Applications; General Purpose Grades
• 3) By Domain Refinement: Thin Gauge Grades; High-Performance Domain Refined Grades; Grades For High-Frequency Applications
• Companies Mentioned: Thyssenkrupp AG; POSCO International Corporation; Nippon Steel Corporation; JFE Steel Corporation; NLMK Group; Baowu Group; AK Steel Holdings Corporation; Tata Steel Limited; ArcelorMittal; Shougang Group Co Ltd.; Cleveland-Cliffs Inc.; Aperam SA; TC Metal Co; Mapes & Sprowl Steel LLC; Tempel Steel; China Baowu Steel Group Corp Ltd.; Gerdau S.A.; Allegheny Technologies Incorporated; United States Steel Corporation; Voestalpine Group; CSC Steel Sdn. Bhd.; Kobe Steel Ltd.; Sumitomo Metal Industries Ltd.; Baosteel Group Corporation; Jindal Steel and Power Limited; JSW Steel Ltd.; Essar Steel; Cogent Power Limited; Ansteel Group Corporation Limited; Baoshan Iron & Steel Co. Ltd.; Benxi Iron and Steel Group Co. Ltd.; Hebei Iron and Steel Group Co. Ltd.; Hunan Valin Steel Co. Ltd.; Jiangsu Shagang Group Co. Ltd.; Maanshan Iron & Steel Company Limited; Shandong Iron and Steel Group Co. Ltd.; Tata Iron and Steel Company Limited; World Industrial Specialty Company Inc; Wuhan Iron and Steel (Group) Corp.
• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Taiwan; Russia; South Korea; UK; USA; Canada; Italy; Spain.
• Regions: Asia-Pacific; South East Asia; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
• Time Series: Five years historic and ten years forecast.
• Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
• Data Segmentations: country and regional historic and forecast data, market share of competitors, market segments.
• Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
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