India Electrical Steel Market to 2032
Overview
The India Electrical Steel Market is expected to reach a 4.32 USD Billion by 2032 and is projected to grow at a CAGR of 6.67% from 2025 to 2032.
Revenue, 2024 (USD Billion)
2.60
Forecast, 2032 (USD Billion)
4.32
CAGR, 2024 - 2032
6.67%
Report Coverage
India
India Electrical Steel Market 2018-2032 USD Billion
India Electrical Steel Market, Key Findings (2025-2032)
Market Growth and Projections:
- Market Size (2024): 2.60 USD Billion
- Projected Market Size (2032): 4.32 USD Billion
- CAGR (2025-2032): 6.67%
Key Findings of India Electrical Steel Market
- The India Electrical Steel Market was valued at 2.60 USD Billion in 2024.
- The India Electrical Steel Market is likely to grow at a CAGR of 6.67% 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 1.90 USD Billion
- The fastest growing segment 2.7-4.02 in Core Losses Segment grew Fastest with a CAGR of 9.10% during the forecast period from 2024 to 2032.
India Electrical Steel Market Scope
India Electrical Steel Market Segmentation & Scope
Type
- Grain Oriented Steel (CGRO)
- Non Oriented Electrical Steel (CRNGO)
Thickness
- Others / specialized grades
- 0.5–0.65 mm
- 0.25–0.27 mm
- 0.35 mm
- 0.5 mm
End-User
- Others
- Building & Construction
- Household Appliances
- Automobiles
- Energy & Power
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
India Electrical Steel Market Data Coverage Insights
| Study Period | 2024-2032 |
| Base Year | 2024 |
| Unit | Revenue in USD Billion |
| Market Value in 2024 | 2.60 USD Billion |
| Market Value in 2032 | 4.32 USD Billion |
| CAGR (2025-2032) | 6.67% |
| Historic Data | 2016-2023 |
| Market Segments Covered | Type,Thickness,End-User,Core Losses,Flux Density,Application |
Regional Insights:
-
Leading Market (2024-2032): India, leading in terms of revenue 2.60 USD Billion in 2024
- Key Country: India, leading in terms of revenue with value of 2,599.37 USD Million in 2024.
Segments and Scope
-
India Electrical Steel Market to 2032, By Type
- Non Oriented Electrical Steel (CRNGO) is the largest segment in India Electrical Steel Market to 2032 with a revenue of 1.90 USD Billion in the year 2024.
- Non Oriented Electrical Steel (CRNGO) is the Fastest growing segment in India Electrical Steel Market to 2032 with a Growth rate of 6.90 % in forecast period 2025-2032.
-
India Electrical Steel Market to 2032, By Thickness
- 0.5 mm is the largest segment in India Electrical Steel Market to 2032 with a revenue of 1.03 USD Billion in the year 2024.
- 0.5 mm is the Fastest growing segment in India Electrical Steel Market to 2032 with a Growth rate of 7.42 % in forecast period 2025-2032.
-
India Electrical Steel Market to 2032, By End-User
- Energy & Power is the largest segment in India Electrical Steel Market to 2032 with a revenue of 943.08 USD Billion in the year 2024.
- Automobiles is the Fastest growing segment in India Electrical Steel Market to 2032 with a Growth rate of 6.24 % in forecast period 2025-2032.
-
India Electrical Steel Market to 2032, By Core Losses
- 2.7-4.02 is the largest segment in India Electrical Steel Market to 2032 with a revenue of 623.35 USD Billion in the year 2024.
- 2.7-4.02 is the Fastest growing segment in India Electrical Steel Market to 2032 with a Growth rate of 9.10 % in forecast period 2025-2032.
-
India Electrical Steel Market to 2032, By Flux Density
- 1.69 Tesla to 1.73 Tesla is the largest segment in India Electrical Steel Market to 2032 with a revenue of 884.04 USD Billion in the year 2024.
- Above 1.76 Tesla is the Fastest growing segment in India Electrical Steel Market to 2032 with a Growth rate of 6.36 % in forecast period 2025-2032.
-
India Electrical Steel Market to 2032, By Application
- Transformers is the largest segment in India Electrical Steel Market to 2032 with a revenue of 934.99 USD Billion in the year 2024.
- Transformers is the Fastest growing segment in India Electrical Steel Market to 2032 with a Growth rate of 7.98 % in forecast period 2025-2032.
India Electrical Steel Market Company Share Analysis
| Company Name |
|
||
| ArcelorMittal | |||
| Nippon Steel Corporation | |||
| JFE Steel Corporation | |||
| thyssenkrupp AG | |||
| Baosteel Co.,Ltd. | |||
India Electrical Steel Market Geographical Sales Distribution, 2018-2032 USD Billion
India Electrical Steel Market Company Profiling
Industry Related Reports
Frequently Asked Questions
The India Electrical Steel Market is segmented based on Segmentation Type,Thickness,End-User,Core Losses,Flux Density,Application.
India Electrical Steel Market was valued at USD 2.60(Revenue in USD Billion) in 2024.
India Electrical Steel Market is projected to grow at a CAGR of 6.67% during the forecast period of 2024 to 2032.
The Non Oriented Electrical Steel (CRNGO) segment is expected to dominate the India Electrical Steel Market, holding a largest market share of 1.90 USD Billion in 2024
India Electrical Steel Market Scope
India Electrical Steel Market Segmentation & Scope
Type
- Grain Oriented Steel (CGRO)
- Non Oriented Electrical Steel (CRNGO)
Thickness
- Others / specialized grades
- 0.5–0.65 mm
- 0.25–0.27 mm
- 0.35 mm
- 0.5 mm
End-User
- Others
- Building & Construction
- Household Appliances
- Automobiles
- Energy & Power
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
Frequently Asked Questions
The India Electrical Steel Market is segmented based on Segmentation Type,Thickness,End-User,Core Losses,Flux Density,Application.
India Electrical Steel Market was valued at USD 2.60(Revenue in USD Billion) in 2024.
India Electrical Steel Market is projected to grow at a CAGR of 6.67% during the forecast period of 2024 to 2032.
The estimated market value of the India Electrical Steel Market for final year is USD 4.32 (USD Billion).
India Electrical Steel Market Company Profiling
Frequently Asked Questions
The India Electrical Steel Market is segmented based on Segmentation Type,Thickness,End-User,Core Losses,Flux Density,Application.
India Electrical Steel Market was valued at USD 2.60(Revenue in USD Billion) in 2024.
India Electrical Steel Market is projected to grow at a CAGR of 6.67% during the forecast period of 2024 to 2032.
The estimated market value of the India Electrical Steel Market for final year is USD 4.32 (USD Billion).
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