Comprehensive 2025 Non-Grain Oriented Electrical Steel Market Overview: Trends, Forecasts, and Growth Drivers

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What Is the Expected CAGR for the Non-Grain Oriented Electrical Steel Market Through 2025?
The market for non-grain oriented electrical steel has experienced a steady increase in size over the past few years. It's projected to rise from $14.83 billion in 2024 to $15.47 billion in 2025, reflecting a compound annual growth rate (CAGR) of 4.3%. Factors that have contributed to this growth in the historical period include effects of the industrial revolution, increased industrial electrification, research and development advancements, urban development and infrastructure expansion, and the introduction of energy-efficient appliances.

What's the Projected Size of the Global Non-Grain Oriented Electrical Steel Market by 2029?
It is predicted that the market size for non-grain oriented electrical steel will experience robust expansion in the coming years, with projections of reaching a value of $18.92 billion by 2029, based on a compound annual growth rate (CAGR) of 5.2%. This projected expansion within the forecasted timeframe can be linked to factors such as supply chain enhancement, the introduction of industry 4.0 and automation, advancements in smart grid infrastructure, the rise of the electric vehicle movement, and focus on recycling and sustainability. In this expected growth period, major trends will include data-driven maintenance approaches, localized production, traceability and transparency of materials, superior tolerance to high temperatures, and the incorporation of IoT within electrical steel operations.

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Top Growth Drivers in the Non-Grain Oriented Electrical Steel Industry: What's Accelerating the Market?
The increase in usage of electric vehicles (EV) is predicted to fuel the expansion of non-grain-oriented electrical steel market in the future. The EV is a type of vehicle that relies on an electric motor for power, utilizing electricity from a battery that can be replenished from an external power source. Non-grain-oriented electrical steel improves the efficiency of the electric motor, which is the core material in EVs. As such, the growing popularity of EVs leads to a greater demand for non-grain-oriented electrical steel. A case in point is a report issued by Kelley Blue Book, a Cox Automotive establishment from the US in January 2024, the report stated that a notable 1.2 million car buyers in the US selected EVs in 2023. This made up 7.6% of all vehicle sales in the US, an increase from 5.9% the previous year. Hence, the escalating acceptance of EVs is pushing the growth of the non-grain-oriented electrical steel market.

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What Trends Will Shape the Non-Grain Oriented Electrical Steel Market Through 2029 and Beyond?
The principal trend emerging in the non-grain-oriented electrical steel market is product innovation. Key players in the market are channeling efforts towards creating pioneering products to solidify their market standing. As an illustration, in December 2022, Cleveland-Cliffs Inc., a US enterprise specializing in the mining and production of electrical steel, iron ore, and other ferroalloys, introduced MOTOR-MAX. This high-frequency non-oriented electrical steel (HF NOES) product improves the ultimate performance and efficiency of engines, designed for high-speed engines, electric vehicle (EV) propulsion motors, aviation generators, and other rotary machinery.

What Are the Main Segments in the Non-Grain Oriented Electrical Steel Market?
The non-grain oriented electrical steel market covered in this report is segmented -

1) By Product: Fully Processed, Semi-processed
2) By Thickness: 0.35 mm, 0.5 mm, 0.65 mm, Other Thickness
3) By Application: Inductors, Transformers, Motors, Other Applications
4) By End User: Automotive Industry, Aviation, Power, Domestic Appliances, Other End Users

Subsegments:
1) By Fully Processed: Cold Rolled Electrical Steel, Hot Rolled Electrical Steel
2) By Semi-Processed: Cold Rolled Non-Grain Oriented Steel, Hot Rolled Non-Grain Oriented Steel

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Which Top Companies are Driving Growth in the Non-Grain Oriented Electrical Steel Market?
Major companies operating in the non-grain oriented electrical steel market include ThyssenKrupp AG, ArcelorMittal SA, Pohang Iron and Steel Company (POSCO), Nippon Steel Corporation, Ansteel Group Corporation Limited, Shagang Group Co. Ltd., Shougang Group Co. Ltd., Baosteel Group Corporation, JFE Holdings Inc., Tata Steel Limited, United States Steel Corporation, Voestalpine AG, NoVo Lipetsk Steel, Benxi Steel Group Co. Ltd, Aperam S.A., China BaoWu Steel Group Corporation Limited, Taiyuan Iron and Steel Co. Ltd., Malaysia Steel Works (KL) Bhd., CSC Steel Sdn. Bhd., Arnold Magnetic Technologies Corporation, Yieh Corp., Lamination Specialties Corp., AK Steel International B.V, Johnson Bros. Roll Forming Co., Continental Steel & Tube Co., TC Metal Co., AAA Metals Co. Inc.

Which Regions Will Dominate the Non-Grain Oriented Electrical Steel Market Through 2029?
Asia Pacific was the largest region in the non-grain oriented electrical steel market in 2024. The regions covered in the non-grain oriented electrical steel market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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