Mexico Electrical Steel Market to 2032
Overview
The Mexico Electrical Steel Market is expected to reach a 343.34 USD Million by 2032 and is projected to grow at a CAGR of 4.25% from 2025 to 2032.
Revenue, 2024 (USD Million)
248.08
Forecast, 2032 (USD Million)
343.34
CAGR, 2024 - 2032
4.25%
Report Coverage
Mexico
Mexico Electrical Steel Market 2018-2032 USD Million
Mexico Electrical Steel Market, Key Findings (2025-2032)
Market Growth and Projections:
- Market Size (2024): 248.08 USD Million
- Projected Market Size (2032): 343.34 USD Million
- CAGR (2025-2032): 4.25%
Key Findings of Mexico Electrical Steel Market
- The Mexico Electrical Steel Market was valued at 248.08 USD Million in 2024.
- The Mexico Electrical Steel Market is likely to grow at a CAGR of 4.25% 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 155.99 USD Million
- The fastest growing segment Above 1.76 Tesla in Flux Density Segment grew Fastest with a CAGR of 5.01% during the forecast period from 2024 to 2032.
Mexico Electrical Steel Market Scope
Mexico 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
- Inductors
- Shunt Reactors
- Others
- Converters (power electronics / inverters)
- Power Generators (incl. gensets)
- Transformers
- Motors
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
- 0.5 mm
- 0.25–0.27 mm
- 0.35 mm
Core Losses
- 1.9
- >4.0
- 2.1
- 2.3
- 2.5
- 2.7
- 2.7-4.02
Mexico Electrical Steel Market Data Coverage Insights
| Study Period | 2024-2032 |
| Base Year | 2024 |
| Unit | Revenue in USD Million |
| Market Value in 2024 | 248.08 USD Million |
| Market Value in 2032 | 343.34 USD Million |
| CAGR (2025-2032) | 4.25% |
| Historic Data | 2016-2023 |
| Market Segments Covered | Flux Density,Application,End-User,Type,Thickness,Core Losses |
Regional Insights:
-
Leading Market (2024-2032): Mexico, leading in terms of revenue 248.08 USD Million in 2024
- Key Country: Mexico, leading in terms of revenue with value of 248.08 USD Million in 2024.
Segments and Scope
-
Mexico Electrical Steel Market to 2032, By Flux Density
- 1.69 Tesla to 1.73 Tesla is the largest segment in Mexico Electrical Steel Market to 2032 with a revenue of 83.26 USD Million in the year 2024.
- Above 1.76 Tesla is the Fastest growing segment in Mexico Electrical Steel Market to 2032 with a Growth rate of 4.08 % in forecast period 2025-2032.
-
Mexico Electrical Steel Market to 2032, By Application
- Motors is the largest segment in Mexico Electrical Steel Market to 2032 with a revenue of 84.27 USD Million in the year 2024.
- Motors is the Fastest growing segment in Mexico Electrical Steel Market to 2032 with a Growth rate of 4.76 % in forecast period 2025-2032.
-
Mexico Electrical Steel Market to 2032, By End-User
- Energy & Power is the largest segment in Mexico Electrical Steel Market to 2032 with a revenue of 93.53 USD Million in the year 2024.
- Automobiles is the Fastest growing segment in Mexico Electrical Steel Market to 2032 with a Growth rate of 3.78 % in forecast period 2025-2032.
-
Mexico Electrical Steel Market to 2032, By Type
- Non Oriented Electrical Steel (CRNGO) is the largest segment in Mexico Electrical Steel Market to 2032 with a revenue of 155.99 USD Million in the year 2024.
- Non Oriented Electrical Steel (CRNGO) is the Fastest growing segment in Mexico Electrical Steel Market to 2032 with a Growth rate of 4.48 % in forecast period 2025-2032.
-
Mexico Electrical Steel Market to 2032, By Thickness
- 0.35 mm is the largest segment in Mexico Electrical Steel Market to 2032 with a revenue of 77.60 USD Million in the year 2024.
- 0.35 mm is the Fastest growing segment in Mexico Electrical Steel Market to 2032 with a Growth rate of 4.93 % in forecast period 2025-2032.
-
Mexico Electrical Steel Market to 2032, By Core Losses
- 2.7-4.02 is the largest segment in Mexico Electrical Steel Market to 2032 with a revenue of 68.75 USD Million in the year 2024.
- 2.7-4.02 is the Fastest growing segment in Mexico Electrical Steel Market to 2032 with a Growth rate of 4.99 % in forecast period 2025-2032.
Mexico Electrical Steel Market Company Share Analysis
| Company Name |
|
||
| ArcelorMittal | |||
| Nippon Steel Corporation | |||
| JFE Steel Corporation | |||
| thyssenkrupp AG | |||
| Baosteel Co.,Ltd. | |||
Mexico Electrical Steel Market Geographical Sales Distribution, 2018-2032 USD Million
Mexico Electrical Steel Market Company Profiling
Industry Related Reports
Frequently Asked Questions
The Mexico Electrical Steel Market is segmented based on Segmentation Flux Density,Application,End-User,Type,Thickness,Core Losses.
Mexico Electrical Steel Market was valued at USD 248.08(Revenue in USD Million) in 2024.
Mexico Electrical Steel Market is projected to grow at a CAGR of 4.25% during the forecast period of 2024 to 2032.
The Non Oriented Electrical Steel (CRNGO) segment is expected to dominate the Mexico Electrical Steel Market, holding a largest market share of 155.99 USD Million in 2024
Mexico Electrical Steel Market Scope
Mexico 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
- Inductors
- Shunt Reactors
- Others
- Converters (power electronics / inverters)
- Power Generators (incl. gensets)
- Transformers
- Motors
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
- 0.5 mm
- 0.25–0.27 mm
- 0.35 mm
Core Losses
- 1.9
- >4.0
- 2.1
- 2.3
- 2.5
- 2.7
- 2.7-4.02
Frequently Asked Questions
The Mexico Electrical Steel Market is segmented based on Segmentation Flux Density,Application,End-User,Type,Thickness,Core Losses.
Mexico Electrical Steel Market was valued at USD 248.08(Revenue in USD Million) in 2024.
Mexico Electrical Steel Market is projected to grow at a CAGR of 4.25% during the forecast period of 2024 to 2032.
The estimated market value of the Mexico Electrical Steel Market for final year is USD 343.34 (USD Million).
Mexico Electrical Steel Market Company Profiling
Frequently Asked Questions
The Mexico Electrical Steel Market is segmented based on Segmentation Flux Density,Application,End-User,Type,Thickness,Core Losses.
Mexico Electrical Steel Market was valued at USD 248.08(Revenue in USD Million) in 2024.
Mexico Electrical Steel Market is projected to grow at a CAGR of 4.25% during the forecast period of 2024 to 2032.
The estimated market value of the Mexico Electrical Steel Market for final year is USD 343.34 (USD Million).
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