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Electrical Steel Market Size & Forecast

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Historic: 2022-2024 Base Year: 2025 Forecast: 2026–2033
US$ 47.36 billion
Market Size 2025 · Base Year
US$ 87.65 billion
Projected Market Size by 2033
8.00%
CAGR · 2026–2033
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BMIPUB00033909 56+ Countries Covered 10 Major Companies Profiled PEST & SWOT Analysis Competitive Heat Map
At a Glance

Report Coverage

56 +
Countries
56+ countries across North America, Europe, Asia-Pacific, South and Central America, Middle East and Africa
12
Year Assessment
Comprehensive Market Analysis Covering 3 Years of Historical Data (2022–2024), Base Year (2025), and 8-Year Forecast (2026–2033)
10 +
Major Players
Major companies profiled including Nippon Steel Corporation, POSCO, ArcelorMittal, thyssenkrupp Steel, Baowu Steel Group
387
Report Pages
Pages of deep-dive analysis with PEST, SWOT, competitive heat maps and datasets
What's Fueling Growth

Market Drivers

  • Growing demand for Electric Vehicles

  • Expansion of Power Generation capacity

  • Increasing investments in Grid Infrastructure

Where Growth Opportunities Exist

Key Opportunities

  • Growth in Renewable Energy installations

  • Increasing demand in Industrial Automation

  • Expansion in Emerging Markets

What Could Slow It Down

Market Restraints

  • Volatility in Raw Material price

  • Stringent Environmental Regulation

  • High capital requirements for Steel Manufacturing

Market Segmentation

Coverage by Segment

Type

Grain-Oriented Electrical Steel and Non-Grain Oriented Electrical Steel

Application

Transformers
Motors
Inductors

End-Use Industry

Energy
Automotive
Manufacturing
Geographic Breakdown

Regional Intelligence

NA North America
EU Europe
APAC Asia-Pacific
SCA South & Central America
MEA Middle East & Africa
Competitive Landscape

Major Market Players

Listed for reference — companies are not ranked in any particular order.

Nippon Steel Corporation
POSCO
ArcelorMittal
thyssenkrupp Steel
Baowu Steel Group
JFE Steel Corporation
Tata Steel
AK Steel
Voestalpine AG
United States Steel Corporation
What's Inside

Report Scope & Deliverables

Market Size 2025 US$ 47.36 billion
Market Size 2033 US$ 87.65 billion
CAGR 2026–2033 8.00%
Segments By Type (Grain-Oriented Electrical Steel and Non-Grain Oriented Electrical Steel)  |  By Application (Transformers, Motors, Inductors)  |  By End-Use Industry (Energy, Automotive, Manufacturing)
Geographies North America (US, Canada, Mexico)  ·  Europe (Belgium, Austria, Finland, Denmark, Greece, Poland, Romania, Russia, Ukraine, Czech Republic, Slovakia, Bulgaria, Italy, Luxembourg, Germany, Switzerland, France, Netherlands, Norway, Portugal, Spain, Sweden, United Kingdom)  ·  Asia-Pacific (Australia, China, India, Japan, South Korea, Indonesia, Malaysia, Philippines, Singapore, Thailand, Vietnam, Bangladesh, New Zealand, Taiwan)  ·  South and Central America (Brazil, Argentina, Peru, Chile, Colombia)  ·  Middle East and Africa (Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, United Arab Emirates, Turkiye, South Africa, Egypt, Algeria, Nigeria)
Deliverables Historical analysis with CAGR · PEST & SWOT analysis · Market Size at Global, Regional, and Country Levels · Competitive heat map · Company profiles · Excel dataset
Report Code BMIPUB00033909
Lead Analyst Suraj Sajeev — Associate Manager, Research & Consulting · View Profile
With Full Report Access

Gain actionable insights with 387 pages of in-depth Electrical Steel Market, including historical trends, 8-year market forecasts, SWOT analysis, competitive landscapes, and downloadable Excel datasets in a single comprehensive package.

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