Electrical Steels Market Emerging Trends and Growth at $31700 Million by 2031 | JFE Steel, NLMK Group, Posco, NSSMC, ThyssenKrupp

CALIFORNIA, (UNITED STATES) - The global Electrical Steels Market has witnessed significant growth and transformation in recent years. This comprehensive market report provides an overview of key trends, drivers, challenges, and opportunities in the industry. It covers various segments within the Electrical Steels sector, offering insights into market dynamics, competitive landscape, and future prospects. The report focuses on the major players that are in operation within the market and their competitive landscape present in the market. The report includes an inventory of initiatives taken by the businesses within the past years. The report has mentioned growth parameters in the regional markets along with major players dominating the regional growth such as North America, Europe, China, Japan, Southeast Asia and India.

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Electrical Steels Market Size and Growth:

The global market for Electrical Steels was valued at US$ 27280 million in the year 2024 and is projected to reach a revised size of US$ 31700 million by 2031, growing at a CAGR of 2.2% during the forecast period.

Electrical steel is an alloy that contains iron and silicon. It can be manufactured by modifying the magnetic properties of steel for efficient magnetism and electricity conversion. Also called silicon steel, lamination steel, relay steel or transformer steel, this type of steel is very often used to build the cores of transformers as well as the stators of generators and motors. An electrical steel sheet is a functional material used as an iron core material for electrical equipment. There are two types of electrical steel sheet: grain-oriented electrical steel sheet and non-oriented electrical steel sheet, and they are used for different applications.

In this report we researched the two types of steel sheet respectively. Market competition is JFE Steel, NLMK Group, Posco, NSSMC, ThyssenKrupp, AK Steel, Nucor, Voestalpine, TATA Steel, ArcelorMittal, CSC, WISCO, Baosteel, Ansteel, Shougang, Benxi Steel, TISCO, Masteel, Stalprodukt S.A., ATI, are the leaders of the industry, and they hold key technologies and patents, with high-end customers.

The global electrical Steel market is dominated by Baowu, ArcelorMittal, JFE Steel, Shougang, NSMC, NLMK Group, etc. The top six manufacturers account for about 55% of the market share.

China is the largest market for electrical steel with a market share of about 50%, followed by Europe with a market share of about 20%.

Electrical Steels Market Report Scope and Research Methodology:

Before delving into the scope of Electrical Steels market reports, it is crucial to comprehend the vastness of the Electrical Steels industry. This sector encompasses an extensive array of products, from basic chemicals like acids, alkalis, and polymers to specialty chemicals used in various industries such as pharmaceuticals, agriculture, and cosmetics. Moreover, materials range from metals, plastics, and ceramics to composites, nanomaterials, and biomaterials. This diversity makes the Electrical Steels industry highly dynamic and adaptable.

A Research Methodology is a comprehensive document that analyzes and presents the current and future trends, opportunities, challenges, and advancements in research methods, tools, and technologies. It encompasses a wide range of topics related to research, including data collection, analysis, interpretation, and reporting. These reports serve as a valuable resource for researchers, businesses, and academic institutions, helping them stay up-to-date with the latest developments in the field.

Market Drivers and Challenges:

Identify and elaborate on the factors that are propelling Electrical Steels market growth. These could include technological advancements, rising demand from various industries, regulatory changes, and shifting consumer preferences. Discuss the obstacles and challenges hindering the Electrical Steels market's growth potential. This could encompass regulatory hurdles, environmental concerns, economic fluctuations, and supply chain disruptions.

Market Trends and Opportunities:

Highlight the latest trends shaping the Electrical Steels market. This might encompass sustainable and eco-friendly materials, digitization and automation, and evolving R&D practices. Identify untapped opportunities within the Electrical Steels sector. This could involve niche markets, emerging applications, or gaps in the current product offerings.

Top Market Leader Included: -

Baowu Group, AK Steel, Ansteel, ArcelorMittal, Benxi Iron & Steel (Group), CSC, JFE Steel, Nippon Steel Corporation, NLMK Group, Posco, Shougang Group, Stalprodukt S.A., TATA Steel, ThyssenKrupp, TISCO, Voestalpine, Masteel, APERAM, Nucor, ATI Metals

Electrical Steels Market Segmentation:

Segment by Type:

Oriented Electrical Steels
Non-Oriented Electrical Steels

Segment by Application

Transformer
Power Generator
Electric Motor
Others

Electrical Steels Market Regional Insights

The report takes readers on a journey through four key regions: United States, Asia-Pacific, and EMEA. Key nations like the United States, Germany, the United Kingdom, China, Japan, South Korea, and more are thoroughly examined. The data is presented in a timeline from 2023 as the base year, with projections extending to 2030.

→ North America (U.S., Canada, China)
→ Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
→ Asia-Pacific (Japan, South Korea, China Taiwan, Southeast Asia, India)
→ Middle East, Africa, Latin America (Brazil, Mexico, Turkey, Israel, GCC Countries)

Emerging Markets

Emerging markets, such as Southeast Asia, Eastern Europe, and parts of Africa, offer immense growth opportunities for Electrical Steels companies. These regions are witnessing rapid industrialization, urbanization, and a rising middle class. To tap into these markets successfully, companies must navigate diverse regulatory landscapes and adapt to local preferences and practices.

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Research Objectives: The primary objectives of this research report are as follows:

To understand the current state of the Electrical Steels market.
To analyze the market's historical performance and growth trajectory.
To identify key drivers, restraints, opportunities, and challenges in the market.
To explore emerging trends and their impact on the market.
To examine market segmentation by type, application, and region.
To assess the competitive landscape and profile key players.
To provide a regional analysis of the market.
To offer insights into the future outlook and growth prospects of the market.

Porter's Five Forces Analysis:

Threat of New Entrants
Bargaining Power of Suppliers
Bargaining Power of Buyers
Threat of Substitutes
Competitive Rivalry

Key questions answered in the Electrical Steels Market are:

What was the Electrical Steels Market size in 2025?
What is the expected Electrical Steels Market size by 2031?
What are the Electrical Steels Market segments?
Who are the Top key players in the Electrical Steels industry?
Which region held the largest Electrical Steels market share in 2025?

Chapter Outline

Chapter 1: Introduces the report scope of the report, global total market size (valve, volume and price). This chapter also provides the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry.

Chapter 2: Detailed analysis of Electrical Steels manufacturers competitive landscape, price, sales and revenue market share, latest development plan, merger, and acquisition information, etc.

Chapter 3: Provides the analysis of various market segments by Type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.

Chapter 4: Provides the analysis of various market segments by Application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.

Chapter 5: Sales, revenue of Electrical Steels in regional level. It provides a quantitative analysis of the market size and development potential of each region and introduces the market development, future development prospects, market space, and market size of each country in the world.

Chapter 6: Sales, revenue of Electrical Steels in country level. It provides sigmate data by Type, and by Application for each country/region.

Chapter 7: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.

Chapter 8: Analysis of industrial chain, including the upstream and downstream of the industry.

Chapter 9: Conclusion.

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