Electrical Steel Market Trends & Forecast 2025-2031 | Top key players- JFE Holdings Inc, Jiangsu Shagang Group, Tata Steel, The United States Steel Corporation (US Steel), Angang Steel Co. Ltd. and Gerdau.

According to DataM Intelligence, The The Global 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). The Electrical Steel Market is experiencing significant growth at a CAGR of 7.5% from 2024 to 2031, driven by rising demand for energy-efficient electrical components, increasing adoption of electric vehicles (EVs), and expanding renewable energy infrastructure. Additionally, government regulations promoting energy conservation and the rapid development of smart grids and transformers are boosting the need for high-performance electrical steel in power generation and distribution systems.

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The Electrical Steel Market involves the production and distribution of specially engineered steel used in electrical applications like motors, transformers, and generators. It includes two main types: grain-oriented and non-grain-oriented electrical steel, each tailored for specific magnetic properties. These materials offer low core loss, high permeability, and energy efficiency. Growing demand for electric vehicles, renewable energy systems, and smart grid infrastructure is driving market growth. Manufacturers focus on innovation and sustainability, making electrical steel a critical component in modern power and energy systems worldwide.

Electrical Steel Market Key Developments in USA:

2025 - Expansion of Domestic Production Facilities
Major U.S.-based manufacturers expanded their electrical steel production capacity to reduce dependency on imports. New facilities focused on producing high-grade non-grain-oriented (NGO) and grain-oriented electrical steel to support domestic demand from the EV and renewable energy sectors.

2024 - Government Support for Electric Vehicle Infrastructure
The U.S. government announced new funding and policy support for EV infrastructure development, significantly boosting demand for electrical steel used in motors and transformers. This initiative aimed to accelerate the domestic electric vehicle supply chain and grid modernization efforts.

Key Industry players in the Electrical Steel Market

The prominent players in Electrical Steel market research report are: ArcelorMittal S.A, Baosteel Group Corporation, Pohang Iron and Steel Company (POSCO), Nippon Steel & Sumimoto Metal Corporation(NSSMC), JFE Holdings Inc, Jiangsu Shagang Group, Tata Steel, The United States Steel Corporation (US Steel), Angang Steel Co. Ltd. and Gerdau.

The companies are primarily focusing on strategies such as new product launches to penetrate the fastest-growing emerging markets across the world.

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Market Segments:

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.

The Electrical Steel industry is experiencing rapid growth, driven by innovations in medical technology, rising demand for advanced therapies, and a stronger focus on patient-centered care. As the sector progresses, comprehensive market analysis becomes crucial for monitoring emerging trends, regulatory changes, and potential opportunities.

Regions Covered:

The global Electrical Steel Market report focuses on six major regions: North America, South America, Europe, Asia Pacific, the Middle East, and Africa.

☞ North America - US, Canada, Mexico

☞ Europe- Germany, Russia, UK, France, Italy, Rest of Europe

☞ Asia Pacific- China, India, Japan, Australia, Rest of Asia Pacific

☞ South America- Brazil, Argentina, Colombia, Rest of South America

☞ Middle East and Africa- Saudi Arabia, UAE, Oman, Bahrain, Qatar, Kuwait, Israel

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FAQs:

➠ What are the global figures for sales, production, consumption, imports, and exports in the Electrical Steel market?

➠ Who are the key players in the global Electrical Steel industry, and what is their operational performance in terms of capacity, output, sales, pricing, costs, and overall revenue?

➠ What opportunities and challenges are vendors facing in the global Electrical Steel market?

➠ Which product types or end-user applications are likely to experience the most growth? What is the market share of each segment?

➠ What are the main strategic approaches and limitations influencing the growth of the Electrical Steel market?

➠ What are the various sales, marketing, and distribution strategies used across the global Electrical Steel industry?

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