Non Grain-Oriented Electrical Steel for Electric Vehicles Market to Double to US$ 5.97 Billion by 2031, Growing at a Robust 10.84% CAGR

Los Angeles, United State: The global Non Grain-oriented Electrical Steel for Electric Vehicle market is comprehensive and accurately presented in the report with the help of detailed market information and data, critical findings, error-free statistics, and reliable forecasts. The report digs deep into important aspects of the global Non Grain-oriented Electrical Steel for Electric Vehicle market, including competition, segmentation, regional expansion, and market dynamics. Each leading trend of the global Non Grain-oriented Electrical Steel for Electric Vehicle market is carefully studied and elaborately presented in the report. This will help players to take advantage of opportunities available in the global Non Grain-oriented Electrical Steel for Electric Vehicle market and tap into new or unexplored ones in the near future.

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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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%.

In terms of product application, currently BEV is the largest segment, hold a share of 46.6%.

Both leading and emerging players of the global Non Grain-oriented Electrical Steel for Electric Vehicle market are comprehensively looked at in the report. The analysts authoring the report deeply studied each and every aspect of the business of key players operating in the global Non Grain-oriented Electrical Steel for Electric Vehicle market. In the company profiling section, the report offers exhaustive company profiling of all the players covered. The players are studied on the basis of different factors such as market share, growth strategies, new product launch, recent developments, future plans, revenue, gross margin, sales, capacity, production, and product portfolio.

Details of Non Grain-oriented Electrical Steel for Electric Vehicle Market Segmentation: -

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

Players can use the report to gain sound understanding of the growth trend of important segments of the global Non Grain-oriented Electrical Steel for Electric Vehicle market. The report offers separate analysis of product type and application segments of the global Non Grain-oriented Electrical Steel for Electric Vehicle market. Each segment is studied in great detail to provide a clear and thorough analysis of its market growth, future growth potential, growth rate, growth drivers, and other key factors. The segmental analysis offered in the report will help players to discover rewarding growth pockets of the global Non Grain-oriented Electrical Steel for Electric Vehicle market and gain a competitive advantage over their opponents.

Key regions including but not limited to North America, Asia Pacific, Europe, and the MEA are exhaustively analyzed based on market size, CAGR, market potential, economic and political factors, regulatory scenarios, and other significant parameters. The regional analysis provided in the report will help market participants to identify lucrative and untapped business opportunities in different regions and countries. It includes a special study on production and production rate, import and export, and consumption in each regional Non Grain-oriented Electrical Steel for Electric Vehicle market considered for research. The report also offers detailed analysis of country-level Non Grain-oriented Electrical Steel for Electric Vehicle markets.

Report Objectives

(1) Analyzing the size of the global Non Grain-oriented Electrical Steel for Electric Vehicle market on the basis of value and volume

(2) Accurately calculating the market shares, consumption, and other vital factors of different segments of the global Non Grain-oriented Electrical Steel for Electric Vehicle market

(3) Exploring key dynamics of the global Non Grain-oriented Electrical Steel for Electric Vehicle market

(4) Highlighting important trends of the global Non Grain-oriented Electrical Steel for Electric Vehicle market in terms of production, revenue, and sales

(5) Deeply profiling top players of the global Non Grain-oriented Electrical Steel for Electric Vehicle market and showing how they compete in the industry

(6) Studying manufacturing processes and costs, product pricing, and various trends related to them

(7) Showing the performance of different regions and countries in the global Non Grain-oriented Electrical Steel for Electric Vehicle market

(8) Forecasting the market size and share of all segments, regions, and the global market.

For more information on the Non Grain-oriented Electrical Steel for Electric Vehicle Market and Upcoming Trends, Visit: https://www.qyresearch.com/reports/3663962/non-grain-oriented-electrical-steel-for-electric-vehicle

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