Belgium Electrical Steel Market to 2032
Overview
The Belgium Electrical Steel Market is expected to reach a 306.60 USD Million by 2032 and is projected to grow at a CAGR of 4.00% from 2025 to 2032.
Revenue, 2024 (USD Million)
225.99
Forecast, 2032 (USD Million)
306.60
CAGR, 2024 - 2032
4.00%
Report Coverage
Belgium
Belgium Electrical Steel Market 2018-2032 USD Million
Belgium Electrical Steel Market, Key Findings (2025-2032)
Market Growth and Projections:
- Market Size (2024): 225.99 USD Million
- Projected Market Size (2032): 306.60 USD Million
- CAGR (2025-2032): 4.00%
Key Findings of Belgium Electrical Steel Market
- The Belgium Electrical Steel Market was valued at 225.99 USD Million in 2024.
- The Belgium Electrical Steel Market is likely to grow at a CAGR of 4.00% 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 158.40 USD Million
- The fastest growing segment Above 1.76 Tesla in Flux Density Segment grew Fastest with a CAGR of 5.00% during the forecast period from 2024 to 2032.
Belgium Electrical Steel Market Scope
Belgium Electrical Steel Market Segmentation & Scope
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
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)
- Transformers
- Motors
Type
- Grain Oriented Steel (CGRO)
- Non Oriented Electrical Steel (CRNGO)
Thickness
- Others / specialized grades
- 0.5–0.65 mm
- 0.5 mm
- 0.25–0.27 mm
- 0.35 mm
Belgium Electrical Steel Market Data Coverage Insights
| Study Period | 2024-2032 |
| Base Year | 2024 |
| Unit | Revenue in USD Million |
| Market Value in 2024 | 225.99 USD Million |
| Market Value in 2032 | 306.60 USD Million |
| CAGR (2025-2032) | 4.00% |
| Historic Data | 2016-2023 |
| Market Segments Covered | Core Losses,End-User,Flux Density,Application,Type,Thickness |
Regional Insights:
-
Leading Market (2024-2032): Belgium, leading in terms of revenue 225.99 USD Million in 2024
- Key Country: Belgium, leading in terms of revenue with value of 225.99 USD Million in 2024.
Segments and Scope
-
Belgium Electrical Steel Market to 2032, By Core Losses
- 2.7-4.02 is the largest segment in Belgium Electrical Steel Market to 2032 with a revenue of 89.97 USD Million in the year 2024.
- 2.7-4.02 is the Fastest growing segment in Belgium Electrical Steel Market to 2032 with a Growth rate of 4.82 % in forecast period 2025-2032.
-
Belgium Electrical Steel Market to 2032, By End-User
- Energy & Power is the largest segment in Belgium Electrical Steel Market to 2032 with a revenue of 113.10 USD Million in the year 2024.
- Automobiles is the Fastest growing segment in Belgium Electrical Steel Market to 2032 with a Growth rate of 3.72 % in forecast period 2025-2032.
-
Belgium Electrical Steel Market to 2032, By Flux Density
- 1.69 Tesla to 1.73 Tesla is the largest segment in Belgium Electrical Steel Market to 2032 with a revenue of 105.28 USD Million in the year 2024.
- Above 1.76 Tesla is the Fastest growing segment in Belgium Electrical Steel Market to 2032 with a Growth rate of 4.13 % in forecast period 2025-2032.
-
Belgium Electrical Steel Market to 2032, By Application
- Motors is the largest segment in Belgium Electrical Steel Market to 2032 with a revenue of 108.24 USD Million in the year 2024.
- Motors is the Fastest growing segment in Belgium Electrical Steel Market to 2032 with a Growth rate of 4.66 % in forecast period 2025-2032.
-
Belgium Electrical Steel Market to 2032, By Type
- Non Oriented Electrical Steel (CRNGO) is the largest segment in Belgium Electrical Steel Market to 2032 with a revenue of 158.40 USD Million in the year 2024.
- Non Oriented Electrical Steel (CRNGO) is the Fastest growing segment in Belgium Electrical Steel Market to 2032 with a Growth rate of 4.21 % in forecast period 2025-2032.
-
Belgium Electrical Steel Market to 2032, By Thickness
- 0.35 mm is the largest segment in Belgium Electrical Steel Market to 2032 with a revenue of 119.91 USD Million in the year 2024.
- 0.35 mm is the Fastest growing segment in Belgium Electrical Steel Market to 2032 with a Growth rate of 4.34 % in forecast period 2025-2032.
Belgium Electrical Steel Market Company Share Analysis
| Company Name |
|
||
| ArcelorMittal | |||
| Nippon Steel Corporation | |||
| JFE Steel Corporation | |||
| thyssenkrupp AG | |||
| Baosteel Co.,Ltd. | |||
Belgium Electrical Steel Market Geographical Sales Distribution, 2018-2032 USD Million
Belgium Electrical Steel Market Company Profiling
Industry Related Reports
Frequently Asked Questions
The Belgium Electrical Steel Market is segmented based on Segmentation Core Losses,End-User,Flux Density,Application,Type,Thickness.
Belgium Electrical Steel Market was valued at USD 225.99(Revenue in USD Million) in 2024.
Belgium Electrical Steel Market is projected to grow at a CAGR of 4.00% during the forecast period of 2024 to 2032.
The Non Oriented Electrical Steel (CRNGO) segment is expected to dominate the Belgium Electrical Steel Market, holding a largest market share of 158.40 USD Million in 2024
Belgium Electrical Steel Market Scope
Belgium Electrical Steel Market Segmentation & Scope
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
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)
- Transformers
- Motors
Type
- Grain Oriented Steel (CGRO)
- Non Oriented Electrical Steel (CRNGO)
Thickness
- Others / specialized grades
- 0.5–0.65 mm
- 0.5 mm
- 0.25–0.27 mm
- 0.35 mm
Frequently Asked Questions
The Belgium Electrical Steel Market is segmented based on Segmentation Core Losses,End-User,Flux Density,Application,Type,Thickness.
Belgium Electrical Steel Market was valued at USD 225.99(Revenue in USD Million) in 2024.
Belgium Electrical Steel Market is projected to grow at a CAGR of 4.00% during the forecast period of 2024 to 2032.
The estimated market value of the Belgium Electrical Steel Market for final year is USD 306.60 (USD Million).
Belgium Electrical Steel Market Company Profiling
Frequently Asked Questions
The Belgium Electrical Steel Market is segmented based on Segmentation Core Losses,End-User,Flux Density,Application,Type,Thickness.
Belgium Electrical Steel Market was valued at USD 225.99(Revenue in USD Million) in 2024.
Belgium Electrical Steel Market is projected to grow at a CAGR of 4.00% during the forecast period of 2024 to 2032.
The estimated market value of the Belgium Electrical Steel Market for final year is USD 306.60 (USD Million).
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