Non-Grain Oriented Electrical Steel Market Landscape to 2034: Key Forces Shaping the Next Decade of Growth

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How Large Will the Non-Grain Oriented Electrical Steel Market Size By 2025?
Over the past few years, the market size of non-grain oriented electrical steel has shown consistent growth. The prediction for its growth is from $14.83 billion in 2024 to $15.31 billion in 2025, with a compound annual growth rate (CAGR) of 3.2%. The growth experienced in the preceding period could be associated with the influence of the industrial revolution, the electrification of industries, ongoing research and development, urbanization and infrastructure expansion, and the advent of energy-efficient appliances.

How Big Is the Non-Grain Oriented Electrical Steel Market Size Expected to Grow by 2029?
The market size of non-grain oriented electrical steel is projected to witness a consistent expansion in the coming years, expected to reach $18.56 billion by 2029, with a compound annual growth rate of 4.9%. The upliftment projected within this timeframe is linked to factors such as supply chain enhancement, advancement in industry 4.0 and automation processes, progress in smart grid technology, the increasing focus on electric vehicles, and steps towards efficiency in recycling and sustainability. Significant upcoming trends during this forecast period include the adoption of data-driven maintenance methods, an increase in localized manufacturing, the introduction of material traceability and transparency, endurance towards high temperatures, and the integration of IoT in electrical steel manufacturing.

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Which Key Market Drivers Powering Non-Grain Oriented Electrical Steel Market Expansion and Growth?
The growth of the non-grain-oriented electrical steel market is projected to be spurred by the increasing utilization of electric vehicles (EVs). An electric vehicle is a car that uses an electric motor for propulsion, drawing electricity from a battery that can be replenished from an external source. The non-grain oriented electrical steel improves the functioning of the electric motor used as the main material in electric vehicles. This leads to an increased demand for non-grain-oriented electrical steel due to the growing popularity of electric vehicles. For example, a report published by Kelley Blue Book, a Cox Automotive company based in the United States, mentioned that in 2023, a staggering 1.2 million car buyers in the U.S opted for electric vehicles. This represented 7.6% of the total U.S. vehicle market, a significant rise from 5.9% in 2022. As such, the escalating adoption of electric vehicles is boosting the market for non-grain-oriented electrical steel.

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What Are the Key Trends Driving Non-Grain Oriented Electrical Steel Market Growth?
A key trend gaining traction in the non-grain-oriented electrical steel market is product innovation. Numerous prominent companies in this industry are presently focusing on the creation of groundbreaking products to solidify their market position. An example of this occurred in December 2022 when Cleveland-Cliffs Inc., a leading American electrical steel, iron ore, and other ferroalloys producer, introduced a product known as MOTOR-MAX. This high-frequency non-oriented electrical steel (HF NOES) is designed to maximize the overall performance and efficiency of engines. It is specifically tailored for high-speed engines, EV propulsion motors, aviation generators, and other types of rotating machinery.

What Are the Emerging 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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Who Are the Global Leaders 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 are the Top Profitable Regional Markets for the Non-Grain Oriented Electrical Steel Industry?
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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