Press release
Electrical Steel Industry Plant Sector to hit USD 66.98 B by 2033, Demand and Supply, Future Growth, Industry Insights | Top Companies are Nippon Steel, Tata Steel, and U.S. Steel
Electrical Steel Market
United States Electrical Steel Market size in 2024: USD 5.0 B and projected to reach USD 7.32B by 2033 with a CAGR 6.20% (2025‐2033)
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Latest M&A
JSW Steel Limited and JFE Steel Corporation, Japan's second-largest steelmaker, completed the acquisition of Thyssenkrupp Electrical Steel India Private Limited. This joint venture deals in manufacturing electrical steel sheets and is a strategic move to expand their footprint in the high-quality electrical steel market in India.
Nippon Steel Corporation finalized the acquisition of U.S. Steel in a deal valued at about $15 billion, forming a global powerhouse in electrical steel. This acquisition enhances production capabilities and global market presence in grain-oriented electrical steel (GOES) and other premium products.
Key Players:
ArcelorMittal, POSCO, Nippon Steel, JFE Holdings, Tata Steel, and U.S. Steel.
Latest News and Product Launches
✦ JSW Steel and JFE Steel announced a $669 million joint investment to boost electrical steel production capacity at Nashik and Vijayanagar plants in India, targeting 350,000 tonnes per annum of cold-rolled grain-oriented electrical steel by 2028-2030.
✦ Tata Steel UK reported significant progress at its Port Talbot facility in building a new Electric Arc Furnace (EAF) and upgrading electrical steel manufacturing capabilities to support green steel production and energy-efficient products for automotive and renewable sectors.
✦ ArcelorMittal Europe is set to launch two new electrical steel production lines in France with enhanced high polarization grades and self-bonding varnish coating to optimize performance for e-mobility applications and renewable energy generators.
Growth Forecast Projection:
The Global Electrical Steel Market is anticipated to rise at a considerable rate during the forecast period, between 2025 and 2032. In 2024, the market is growing at a steady rate, and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon.
Research Process:
Both primary and secondary data sources have been used in the global Electrical Steel Market research report. During the research process, a wide range of industry-affecting factors are examined, including governmental regulations, market conditions, competitive levels, historical data, market situation, technological advancements, upcoming developments, in related businesses, as well as market volatility, prospects, potential barriers, and challenges.
Latest Investments
✦ JSW Steel and JFE Steel's combined investment of about ₹5,845 crores (approximately $700 million) focuses on capacity expansion of cold-rolled grain-oriented electrical steel essential for transformers, electric motors, and renewable energy technologies domestically and globally.
✦ Nippon Steel plans to invest roughly $11 billion in the U.S. after acquiring U.S. Steel, including large-scale investments in premium electrical steel products to strengthen supply chain and product innovation.
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Key Segmentation:
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 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)
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Project Hubs
✅ Key project hubs include Nashik and Vijayanagar in India for increased electrical steel manufacturing capacity, and Port Talbot in the UK for advanced steelmaking technology integration aimed at sustainable production.
✅ The ArcelorMittal Mardyck plant in France is an important European hub for manufacturing high-specifications electrical steel, serving automotive and industrial sectors with advanced grades and coatings.
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Supply Considerations
✅ Supply chains face raw material volatility, largely due to fluctuating prices of nickel, chromium, and silicon which are critical inputs to electrical steel alloys. This impacts cost structures and pricing across the value chain.
✅ Capacity expansions by major players like JSW Steel Limited , JFE Steel Corporation, and Nippon Steel aim to address supply-demand imbalances and improve lead times.
✅ Advanced manufacturing technologies including precision cold rolling, annealing, and coating technologies are enhancing quality and production efficiency, enabling higher yield from raw materials and reducing waste in supply chains.
Demand Dynamics
✅ Demand for electrical steel is strongly driven by the global push towards energy-efficient motors, transformers, e-mobility (electric vehicles), and renewable energy generation. Increasing electrification in automotive and industrial sectors is accelerating the need for high-quality grain-oriented electrical steel (GOES) and non-oriented electrical steel (NOES).
✅ India's industrial and power infrastructure growth, coupled with government initiatives promoting green mobility and renewable energy targets, is significantly boosting domestic electrical steel consumption, pushing manufacturers to expand capacity.
✅ Demand is also buoyed by Southeast Asia and China's expanding electrical appliance and automotive component manufacturing, with focus on reducing energy losses across applications.
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