Electrical Steel Market Grows with Ultra‐Low Loss GO Grades, EV Motor NO Steels & Nano‐Coatings, Driven by Grid Modernization, EV Adoption & Circular Recycling

Electrical Steel Market reached USD million in 2023 and is projected to witness lucrative growth by reaching up to USD million by 2031. The market is growing at a CAGR of 7.5% during the forecast period (2024-2031).

Electrical Steel Market is positioned for robust growth, and shifting market dynamics reshaping the competitive landscape. DataM Intelligence's new report provides data-driven insights, SWOT analysis, and marketing-ready intelligence for businesses seeking to improve market penetration and campaign ROI.

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Electrical Steel Market Overview & Landscape:
The electrical steel market comprises specialized silicon‐alloyed sheets such as grain‐oriented (GO) and non‐oriented (NO) electrical steels engineered for high magnetic permeability and low core losses in transformers, motors, and generators. As the backbone of energy‐conversion equipment, these steels enable efficient power transmission and electrified mobility, with demand driven by grid modernization, EV motor adoption, and renewable energy integration.

Electrical Steel Market Key Trends & Developments :

High‐Performance GO Grades: Launch of ultra‐low‐loss grain‐oriented steels for next‐gen utility transformers, reducing no‐load losses by up to 15%.

EV Motor NO Steels: Scale‐up of advanced non‐oriented electrical steels with optimized magnetic properties for high‐speed electric vehicle traction motors.

Coating Innovations: Introduction of nanoparticle‐enhanced insulation coatings improving inter‐laminar insulation and thermal cycling resilience in stacked cores.

Recycling & Circularity: Expansion of closed‐loop collection and re-melting programs to reclaim and requalify end‐of‐life electrical steel for new sheet production.

Digital Mill Upgrades: Deployment of AI‐driven roll‐to‐coil quality control systems in steel mills to continuously monitor strip flatness, texture, and magnetic grain orientation.

Strategic Players Driving the Electrical Steel Market Forward :

ArcelorMittal S.A., Baosteel Group Corporation, Pohang Iron and Steel Company (POSCO), Nippon Steel & Sumimoto Metal, JFE Holdings Inc., Jiangsu Shagang Group, Tata Steel, The United States Steel Corporation (US Steel), Angang Steel Co. Ltd. and Gerdau.

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Segment Covered in the Electrical Steel Market:

By Type - Grain Oriented Electrical Steel, Non-Grain Oriented Electrical Steel

By Application - Transformers, Motors & Generators, Inductors

By End-User - Automotive Industry, Construction Industry, Manufacturing, Domestic Appliances, Energy

Regional Analysis for Electrical Steel Market:

⇥ North America (U.S., Canada, Mexico)

⇥ Europe (U.K., Italy, Germany, Russia, France, Spain, The Netherlands and Rest of Europe)

⇥ Asia-Pacific (India, Japan, China, South Korea, Australia, Indonesia Rest of Asia Pacific)

⇥ South America (Colombia, Brazil, Argentina, Rest of South America)

⇥ Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)

Most Frequently Asked Questions in the Electrical Steel Market Research Industry:

✒ What are the primary drivers fueling growth in the Electrical Steel Market today?
✒ Which companies are currently leading innovation and market share in the Electrical Steel Market?
✒ In what ways is the current regulatory environment influencing the Electrical Steel Market's trajectory?
✒ Which geographic regions are forecasted to experience the strongest growth in the Electrical Steel Market-and why?
✒ What are the key barriers or challenges that could limit the growth of the Electrical Steel Market?

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