Asia-Pacific Electrical Steel Market to 2032
Overview
The Asia-Pacific Electrical Steel Market is expected to reach a 35.89 USD Billion by 2032 and is projected to grow at a CAGR of 5.85% from 2025 to 2032.
Revenue, 2024 (USD Billion)
22.96
Forecast, 2032 (USD Billion)
35.89
CAGR, 2024 - 2032
5.85%
Report Coverage
Asia-Pacific
Asia-Pacific Electrical Steel Market 2018-2032 USD Billion
Asia-Pacific Electrical Steel Market, Key Findings (2025-2032)
Market Growth and Projections:
- Market Size (2024): 22.96 USD Billion
- Projected Market Size (2032): 35.89 USD Billion
- CAGR (2025-2032): 5.85%
Key Findings of Asia-Pacific Electrical Steel Market
- The Asia-Pacific Electrical Steel Market was valued at 22.96 USD Billion in 2024.
- The Asia-Pacific Electrical Steel Market is likely to grow at a CAGR of 5.85% during the forecast period of 2024 to 2032.
- In 2024, the Largest segment Non Oriented Electrical Steel (CRNGO) in Type Segment accounted for the largest share of the market with a revenue of 16.33 USD Billion
- The fastest growing segment 2.7-4.02 in Core Losses Segment grew Fastest with a CAGR of 7.22% during the forecast period from 2024 to 2032.
Asia-Pacific Electrical Steel Market Scope
Asia-Pacific Electrical Steel Market Segmentation & Scope
Flux Density
- Less Than 1.65 Tesla
- Above 1.76 Tesla
- 1.65 Tesla to 1.69 Tesla
- 1.73 Tesla to 1.76 Tesla
- 1.69 Tesla to 1.73 Tesla
Application
- Battery (direct use)
- Electrical Ballasts (lighting)
- Wound Cores
- Others
- Inductors
- Shunt Reactors
- Converters (power electronics / inverters)
- Power Generators (incl. gensets)
- Motors
- Transformers
Core Losses
- 1.9
- 2.1
- >4.0
- 2.3
- 2.5
- 2.7
- 2.7-4.02
End-User
- Others
- Building & Construction
- Household Appliances
- Automobiles
- Energy & Power
Type
- Grain Oriented Steel (CGRO)
- Non Oriented Electrical Steel (CRNGO)
Thickness
- Others / specialized grades
- 0.5–0.65 mm
- 0.25–0.27 mm
- 0.5 mm
- 0.35 mm
Asia-Pacific Electrical Steel Market Data Coverage Insights
| Study Period | 2024-2032 |
| Base Year | 2024 |
| Unit | Revenue in USD Billion |
| Market Value in 2024 | 22.96 USD Billion |
| Market Value in 2032 | 35.89 USD Billion |
| CAGR (2025-2032) | 5.85% |
| Historic Data | 2016-2023 |
| Market Segments Covered | Flux Density,Application,Core Losses,End-User,Type,Thickness |
Regional Insights:
-
Leading Market (2024-2032): Asia-Pacific, leading in terms of revenue 22.96 USD Billion in 2024
- Key Country: China, leading in terms of revenue with value of 15,210.42 USD Million in 2024.
Segments and Scope
-
Asia-Pacific Electrical Steel Market to 2032, By Flux Density
- 1.69 Tesla to 1.73 Tesla is the largest segment in Asia-Pacific Electrical Steel Market to 2032 with a revenue of 8.61 USD Billion in the year 2024.
- Above 1.76 Tesla is the Fastest growing segment in Asia-Pacific Electrical Steel Market to 2032 with a Growth rate of 5.91 % in forecast period 2025-2032.
-
Asia-Pacific Electrical Steel Market to 2032, By Application
- Transformers is the largest segment in Asia-Pacific Electrical Steel Market to 2032 with a revenue of 8.84 USD Billion in the year 2024.
- Transformers is the Fastest growing segment in Asia-Pacific Electrical Steel Market to 2032 with a Growth rate of 6.83 % in forecast period 2025-2032.
-
Asia-Pacific Electrical Steel Market to 2032, By Core Losses
- 2.7-4.02 is the largest segment in Asia-Pacific Electrical Steel Market to 2032 with a revenue of 6.97 USD Billion in the year 2024.
- 2.7-4.02 is the Fastest growing segment in Asia-Pacific Electrical Steel Market to 2032 with a Growth rate of 7.22 % in forecast period 2025-2032.
-
Asia-Pacific Electrical Steel Market to 2032, By End-User
- Energy & Power is the largest segment in Asia-Pacific Electrical Steel Market to 2032 with a revenue of 9.15 USD Billion in the year 2024.
- Automobiles is the Fastest growing segment in Asia-Pacific Electrical Steel Market to 2032 with a Growth rate of 5.33 % in forecast period 2025-2032.
-
Asia-Pacific Electrical Steel Market to 2032, By Type
- Non Oriented Electrical Steel (CRNGO) is the largest segment in Asia-Pacific Electrical Steel Market to 2032 with a revenue of 16.33 USD Billion in the year 2024.
- Non Oriented Electrical Steel (CRNGO) is the Fastest growing segment in Asia-Pacific Electrical Steel Market to 2032 with a Growth rate of 6.07 % in forecast period 2025-2032.
-
Asia-Pacific Electrical Steel Market to 2032, By Thickness
- 0.35 mm is the largest segment in Asia-Pacific Electrical Steel Market to 2032 with a revenue of 8.01 USD Billion in the year 2024.
- 0.35 mm is the Fastest growing segment in Asia-Pacific Electrical Steel Market to 2032 with a Growth rate of 6.37 % in forecast period 2025-2032.
Asia-Pacific Electrical Steel Market Company Share Analysis
| Company Name |
|
||
| ArcelorMittal | |||
| Nippon Steel Corporation | |||
| JFE Steel Corporation | |||
| thyssenkrupp AG | |||
| Baosteel Co.,Ltd. | |||
Asia-Pacific Electrical Steel Market Geographical Sales Distribution, 2018-2032 USD Billion
Asia-Pacific Electrical Steel Market Company Profiling
Industry Related Reports
Frequently Asked Questions
The Asia-Pacific Electrical Steel Market is segmented based on Segmentation Flux Density,Application,Core Losses,End-User,Type,Thickness.
Asia-Pacific Electrical Steel Market was valued at USD 22.96(Revenue in USD Billion) in 2024.
Asia-Pacific Electrical Steel Market is projected to grow at a CAGR of 5.85% during the forecast period of 2024 to 2032.
The Non Oriented Electrical Steel (CRNGO) segment is expected to dominate the Asia-Pacific Electrical Steel Market, holding a largest market share of 16.33 USD Billion in 2024
Asia-Pacific Electrical Steel Market Scope
Asia-Pacific Electrical Steel Market Segmentation & Scope
Flux Density
- Less Than 1.65 Tesla
- Above 1.76 Tesla
- 1.65 Tesla to 1.69 Tesla
- 1.73 Tesla to 1.76 Tesla
- 1.69 Tesla to 1.73 Tesla
Application
- Battery (direct use)
- Electrical Ballasts (lighting)
- Wound Cores
- Others
- Inductors
- Shunt Reactors
- Converters (power electronics / inverters)
- Power Generators (incl. gensets)
- Motors
- Transformers
Core Losses
- 1.9
- 2.1
- >4.0
- 2.3
- 2.5
- 2.7
- 2.7-4.02
End-User
- Others
- Building & Construction
- Household Appliances
- Automobiles
- Energy & Power
Type
- Grain Oriented Steel (CGRO)
- Non Oriented Electrical Steel (CRNGO)
Thickness
- Others / specialized grades
- 0.5–0.65 mm
- 0.25–0.27 mm
- 0.5 mm
- 0.35 mm
Frequently Asked Questions
The Asia-Pacific Electrical Steel Market is segmented based on Segmentation Flux Density,Application,Core Losses,End-User,Type,Thickness.
Asia-Pacific Electrical Steel Market was valued at USD 22.96(Revenue in USD Billion) in 2024.
Asia-Pacific Electrical Steel Market is projected to grow at a CAGR of 5.85% during the forecast period of 2024 to 2032.
The estimated market value of the Asia-Pacific Electrical Steel Market for final year is USD 35.89 (USD Billion).
Asia-Pacific Electrical Steel Market Company Profiling
Frequently Asked Questions
The Asia-Pacific Electrical Steel Market is segmented based on Segmentation Flux Density,Application,Core Losses,End-User,Type,Thickness.
Asia-Pacific Electrical Steel Market was valued at USD 22.96(Revenue in USD Billion) in 2024.
Asia-Pacific Electrical Steel Market is projected to grow at a CAGR of 5.85% during the forecast period of 2024 to 2032.
The estimated market value of the Asia-Pacific Electrical Steel Market for final year is USD 35.89 (USD Billion).
CHOOSE LICENCE TYPE
- 4200.00
- 3500.00
- 2000.00
- 5500.00
- 8500.00
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