Global Electrical Steel Market to 2032
Overview
The Global Electrical Steel Market is expected to reach a 52.60 USD Billion by 2032 and is projected to grow at a CAGR of 5.61% from 2025 to 2032.
Revenue, 2024 (USD Billion)
34.28
Forecast, 2032 (USD Billion)
52.60
CAGR, 2024 - 2032
5.61%
Report Coverage
Global
Global Electrical Steel Market 2018-2032 USD Billion
Global Electrical Steel Market, Key Findings (2025-2032)
Market Growth and Projections:
- Market Size (2024): 34.28 USD Billion
- Projected Market Size (2032): 52.60 USD Billion
- CAGR (2025-2032): 5.61%
Key Findings of Global Electrical Steel Market
- The Global Electrical Steel Market was valued at 34.28 USD Billion in 2024.
- The Global Electrical Steel Market is likely to grow at a CAGR of 5.61% 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 23.67 USD Billion
- The fastest growing segment 2.7-4.02 in Core Losses Segment grew Fastest with a CAGR of 6.76% during the forecast period from 2024 to 2032.
Global Electrical Steel Market Scope
Global Electrical Steel Market Segmentation & Scope
Core Losses
- 1.9
- 2.1
- >4.0
- 2.3
- 2.5
- 2.7
- 2.7-4.02
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
End-User
- Others
- Building & Construction
- Household Appliances
- Automobiles
- Energy & Power
Thickness
- Others / specialized grades
- 0.5–0.65 mm
- 0.25–0.27 mm
- 0.5 mm
- 0.35 mm
Type
- Grain Oriented Steel (CGRO)
- Non Oriented Electrical Steel (CRNGO)
Global Electrical Steel Market Data Coverage Insights
| Study Period | 2024-2032 |
| Base Year | 2024 |
| Unit | Revenue in USD Billion |
| Market Value in 2024 | 34.28 USD Billion |
| Market Value in 2032 | 52.60 USD Billion |
| CAGR (2025-2032) | 5.61% |
| Historic Data | 2016-2023 |
| Market Segments Covered | Core Losses,Flux Density,Application,End-User,Thickness,Type |
Regional Insights:
-
Leading Market (2024-2032): Global, leading in terms of revenue 34.28 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
-
Global Electrical Steel Market to 2032, By Core Losses
- 2.7-4.02 is the largest segment in Global Electrical Steel Market to 2032 with a revenue of 10.70 USD Billion in the year 2024.
- 2.7-4.02 is the Fastest growing segment in Global Electrical Steel Market to 2032 with a Growth rate of 6.76 % in forecast period 2025-2032.
-
Global Electrical Steel Market to 2032, By Flux Density
- 1.69 Tesla to 1.73 Tesla is the largest segment in Global Electrical Steel Market to 2032 with a revenue of 12.87 USD Billion in the year 2024.
- Above 1.76 Tesla is the Fastest growing segment in Global Electrical Steel Market to 2032 with a Growth rate of 5.60 % in forecast period 2025-2032.
-
Global Electrical Steel Market to 2032, By Application
- Transformers is the largest segment in Global Electrical Steel Market to 2032 with a revenue of 12.25 USD Billion in the year 2024.
- Transformers is the Fastest growing segment in Global Electrical Steel Market to 2032 with a Growth rate of 6.37 % in forecast period 2025-2032.
-
Global Electrical Steel Market to 2032, By End-User
- Energy & Power is the largest segment in Global Electrical Steel Market to 2032 with a revenue of 13.89 USD Billion in the year 2024.
- Automobiles is the Fastest growing segment in Global Electrical Steel Market to 2032 with a Growth rate of 5.08 % in forecast period 2025-2032.
-
Global Electrical Steel Market to 2032, By Thickness
- 0.35 mm is the largest segment in Global Electrical Steel Market to 2032 with a revenue of 12.49 USD Billion in the year 2024.
- 0.35 mm is the Fastest growing segment in Global Electrical Steel Market to 2032 with a Growth rate of 6.14 % in forecast period 2025-2032.
-
Global Electrical Steel Market to 2032, By Type
- Non Oriented Electrical Steel (CRNGO) is the largest segment in Global Electrical Steel Market to 2032 with a revenue of 23.67 USD Billion in the year 2024.
- Non Oriented Electrical Steel (CRNGO) is the Fastest growing segment in Global Electrical Steel Market to 2032 with a Growth rate of 5.86 % in forecast period 2025-2032.
Global Electrical Steel Market Company Share Analysis
| Company Name |
|
||
| ArcelorMittal | |||
| Nippon Steel Corporation | |||
| JFE Steel Corporation | |||
| thyssenkrupp AG | |||
| Baosteel Co.,Ltd. | |||
Global Electrical Steel Market Geographical Sales Distribution, 2018-2032 USD Billion
Global Electrical Steel Market Company Profiling
Industry Related Reports
Frequently Asked Questions
The Global Electrical Steel Market is segmented based on Segmentation Core Losses,Flux Density,Application,End-User,Thickness,Type.
Global Electrical Steel Market was valued at USD 34.28(Revenue in USD Billion) in 2024.
Global Electrical Steel Market is projected to grow at a CAGR of 5.61% during the forecast period of 2024 to 2032.
The Non Oriented Electrical Steel (CRNGO) segment is expected to dominate the Global Electrical Steel Market, holding a largest market share of 23.67 USD Billion in 2024
Global Electrical Steel Market Scope
Global Electrical Steel Market Segmentation & Scope
Core Losses
- 1.9
- 2.1
- >4.0
- 2.3
- 2.5
- 2.7
- 2.7-4.02
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
End-User
- Others
- Building & Construction
- Household Appliances
- Automobiles
- Energy & Power
Thickness
- Others / specialized grades
- 0.5–0.65 mm
- 0.25–0.27 mm
- 0.5 mm
- 0.35 mm
Type
- Grain Oriented Steel (CGRO)
- Non Oriented Electrical Steel (CRNGO)
Frequently Asked Questions
The Global Electrical Steel Market is segmented based on Segmentation Core Losses,Flux Density,Application,End-User,Thickness,Type.
Global Electrical Steel Market was valued at USD 34.28(Revenue in USD Billion) in 2024.
Global Electrical Steel Market is projected to grow at a CAGR of 5.61% during the forecast period of 2024 to 2032.
The estimated market value of the Global Electrical Steel Market for final year is USD 52.60 (USD Billion).
Global Electrical Steel Market Company Profiling
Frequently Asked Questions
The Global Electrical Steel Market is segmented based on Segmentation Core Losses,Flux Density,Application,End-User,Thickness,Type.
Global Electrical Steel Market was valued at USD 34.28(Revenue in USD Billion) in 2024.
Global Electrical Steel Market is projected to grow at a CAGR of 5.61% during the forecast period of 2024 to 2032.
The estimated market value of the Global Electrical Steel Market for final year is USD 52.60 (USD Billion).
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