Press release
Non Grain-oriented Electrical Steel for Electric Vehicle Research:CAGR of 11.2% during the forecast period
The global market for Non Grain-oriented Electrical Steel for Electric Vehicle was valued at US$ 2,974.26 million in 2024 and is forecast to a readjusted size of US$ 5,969.24 million by 2031 with a CAGR of 10.84% during the forecast period 2025-2031.
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Non Grain-oriented Electrical Steel for Electric Vehicle Market Summary
Non-oriented silicon steel (electrical steel) has homogeneous magnetic properties in all directions. They are used as core materials in rotating machines, from tiny precision electric motors to large power generators. This type of steel is particularly important for electric vehicles (EVs). The use of non-oriented silicon steel enhances the efficiency and performance of electric drivetrains, a critical aspect of EV technology.
The global transition from internal combustion engine (ICE) vehicles to electric vehicles is a major driver for NGO electrical steel. As EV sales rise, the demand for efficient electric motors, which rely on high-performance materials like NGO electrical steel, also increases. This trend is fueled by consumer demand for greener transportation options, government incentives, and regulatory pressures aimed at reducing greenhouse gas emissions.
As the adoption of EVs accelerates globally, the demand for NGO electrical steel is growing. Emerging markets, especially in Asia, are seeing an increase in EV production, with countries like China, India, and South Korea playing key roles in driving this demand. As these markets grow, the need for high-performance materials like NGO electrical steel will continue to rise.
There has been ongoing research and development in electric motor technology, leading to the production of more efficient and powerful motors. This includes advancements in materials, design, and manufacturing processes, resulting in lighter, more compact, and higher-performing motors.
One of the primary goals in electric motor design for EVs is reducing core losses, as these directly affect motor efficiency and driving range. As a result, manufacturers are focusing on using thinner NGO electrical steel, which helps minimize eddy current losses (energy wasted as heat).
According to the new market research report "Global Non Grain-oriented Electrical Steel for Electric Vehicle Market Report 2025-2031", published by QYResearch, the global Non Grain-oriented Electrical Steel for Electric Vehicle market size is projected to reach USD 5.97 billion by 2031, at a CAGR of 11.2% during the forecast period.
Above data is based on report from QYResearch: Global Non Grain-oriented Electrical Steel for Electric Vehicle Market Report 2024-2030 (published in 2024). If you need the latest data, plaese contact QYResearch.
Above data is based on report from QYResearch: Global Non Grain-oriented Electrical Steel for Electric Vehicle Market Report 2024-2030 (published in 2024). If you need the latest data, plaese contact QYResearch.
According to QYResearch Top Players Research Center, the global key manufacturers of Non Grain-oriented Electrical Steel for Electric Vehicle include Baowu, Shougang Group, TISCO, Nippon Steel, ThyssenKrupp, Posco, Voestalpine, JFE Steel, CSC, AK Steel (Cleveland-Cliffs), etc. In 2024, the global top five players had a share approximately 66.0% in terms of revenue.
Based on or includes research from QYResearch: Global Non Grain-oriented Electrical Steel for Electric Vehicle Market Report 2024-2030.
In terms of product type, currently Thickness < 0.3 mm is the largest segment, hold a share of 88.9%.
Figure00004. Non Grain-oriented Electrical Steel for Electric Vehicle, Global Market Size, Split by Application Segment
Based on or includes research from QYResearch: Global Non Grain-oriented Electrical Steel for Electric Vehicle Market Report 2024-2030.
In terms of product application, currently BEV is the largest segment, hold a share of 46.6%.
The report provides a detailed analysis of the market size, growth potential, and key trends for each segment. Through detailed analysis, industry players can identify profit opportunities, develop strategies for specific customer segments, and allocate resources effectively.
The Non Grain-oriented Electrical Steel for Electric Vehicle market is segmented as below:
By Company
Baowu
Shougang Group
TISCO
Nippon Steel
ThyssenKrupp
Posco
Voestalpine
JFE Steel
CSC
AK Steel (Cleveland-Cliffs)
ArcelorMittal
Segment by Type
Thickness < 0.3 mm
Thickness > 0.3 mm
Segment by Application
BEV
PHEV
HEV
Each chapter of the report provides detailed information for readers to further understand the Non Grain-oriented Electrical Steel for Electric Vehicle market:
Chapter 1: Introduces the report scope of the Non Grain-oriented Electrical Steel for Electric Vehicle 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. (2020-2031)
Chapter 2: Detailed analysis of Non Grain-oriented Electrical Steel for Electric Vehicle manufacturers competitive landscape, price, sales and revenue market share, latest development plan, merger, and acquisition information, etc. (2020-2025)
Chapter 3: Provides the analysis of various Non Grain-oriented Electrical Steel for Electric Vehicle 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. (2020-2031)
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.(2020-2031)
Chapter 5: Sales, revenue of Non Grain-oriented Electrical Steel for Electric Vehicle 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..(2020-2031)
Chapter 6: Sales, revenue of Non Grain-oriented Electrical Steel for Electric Vehicle in country level. It provides sigmate data by Type, and by Application for each country/region.(2020-2031)
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. (2020-2025)
Chapter 8: Analysis of industrial chain, including the upstream and downstream of the industry.
Chapter 9: Conclusion.
Benefits of purchasing QYResearch report:
Competitive Analysis: QYResearch provides in-depth Non Grain-oriented Electrical Steel for Electric Vehicle competitive analysis, including information on key company profiles, new entrants, acquisitions, mergers, large market shear, opportunities, and challenges. These analyses provide clients with a comprehensive understanding of market conditions and competitive dynamics, enabling them to develop effective market strategies and maintain their competitive edge.
Industry Analysis: QYResearch provides Non Grain-oriented Electrical Steel for Electric Vehicle comprehensive industry data and trend analysis, including raw material analysis, market application analysis, product type analysis, market demand analysis, market supply analysis, downstream market analysis, and supply chain analysis.
and trend analysis. These analyses help clients understand the direction of industry development and make informed business decisions.
Market Size: QYResearch provides Non Grain-oriented Electrical Steel for Electric Vehicle market size analysis, including capacity, production, sales, production value, price, cost, and profit analysis. This data helps clients understand market size and development potential, and is an important reference for business development.
Other relevant reports of QYResearch:
Non Grain-oriented Electrical Steel for Electric Vehicle- Global Market Share and Ranking, Overall Sales and Demand Forecast 2025-2031
Global Non Grain-oriented Electrical Steel for Electric Vehicle Market Research Report 2025
Global Non Grain-oriented Electrical Steel for Electric Vehicle Market Insights, Forecast to 2030
Non Grain-oriented Electrical Steel for Electric Vehicle - Global Market Insights and Sales Trends 2024
Global Non Grain-oriented Electrical Steel for Electric Vehicle Market Research Report 2023
Global Non Grain-oriented Electrical Steel for Electric Vehicle Market Insights, Forecast to 2029
Global Non Grain-oriented Electrical Steel for Electric Vehicle Market Report, History and Forecast 2018-2029, Breakdown Data by Manufacturers, Key Regions, Types and Application
About Us:
QYResearch founded in California, USA in 2007, which is a leading global market research and consulting company. Our primary business include market research reports, custom reports, commissioned research, IPO consultancy, business plans, etc. With over 18 years of experience and a dedicated research team, we are well placed to provide useful information and data for your business, and we have established offices in 7 countries (include United States, Germany, Switzerland, Japan, Korea, China and India) and business partners in over 30 countries. We have provided industrial information services to more than 60,000 companies in over the world.
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