North America Electrical Steel Market to 2032
Overview
The North America Electrical Steel Market is expected to reach a 6.87 USD Billion by 2032 and is projected to grow at a CAGR of 6.39% from 2025 to 2032.
Revenue, 2024 (USD Billion)
4.19
Forecast, 2032 (USD Billion)
6.87
CAGR, 2024 - 2032
6.39%
Report Coverage
North America
North America Electrical Steel Market 2018-2032 USD Billion
North America Electrical Steel Market, Key Findings (2025-2032)
Market Growth and Projections:
- Market Size (2024): 4.19 USD Billion
- Projected Market Size (2032): 6.87 USD Billion
- CAGR (2025-2032): 6.39%
Key Findings of North America Electrical Steel Market
- The North America Electrical Steel Market was valued at 6.87 USD Billion in 2024.
- The North America Electrical Steel Market is likely to grow at a CAGR of 6.39% during the forecast period of 2024 to 2032.
- In 2024, the Largest segment Non-Grain Oriented Electrical Steel in Product Type Segment accounted for the largest share of the market with a revenue of 2.57 USD Billion
- The fastest growing segment Motors in Application Segment grew Fastest with a CAGR of 7.16% during the forecast period from 2024 to 2032.
North America Electrical Steel Market Scope
North America Electrical Steel Market Segmentation & Scope
Thickness
- 0.23 MM
- 0.27 MM
- 0.35 MM
- Others
- 0.65 MM
- 0.5 MM
- 0.30 MM
Product Type
- Grain Oriented Electrical Steel
- Non-Grain Oriented Electrical Steel
End-User
- Others
- Household Appliances
- Building and Construction
- Automotive
- Engineering
- Energy and Power
Application
- Others
- Wound Cores
- Shunt Reactors
- Convertors
- Battery
- Motors
- Electrical Ballasts
- Inductors
- Transformers
- Power Generators
Flux Density
- Less than 1.65 Tesla
- 1.65 Tesla to 1.69 Tesla
- 1.69 Tesla to 1.73 Tesla
- 1.73 Tesla to 1.76 Tesla
- Above 1.76 Tesla
Core Losses
- Above 1.39 W/KG
- 1.30 W/KG to 1.39 W/KG
- 1.00 W/KG to 1.29 W/KG
- 0.90 W/KG to 0.99 W/KG
- Less than 0.9 W/KG
North America Electrical Steel Market Data Coverage Insights
| Study Period | 2024-2032 |
| Base Year | 2023 |
| Unit | Revenue in USD Billion |
| Market Value in 2024 | 4.19 USD Billion |
| Market Value in 2032 | 6.87 USD Billion |
| CAGR (2025-2032) | 6.39% |
| Historic Data | 2016-2023 |
| Market Segments Covered | Thickness,Product Type,End-User,Application, Flux Density,Core Losses |
Regional Insights:
-
Leading Market (2024-2032): North America, leading in terms of revenue 4.19 USD Billion in 2024
- Key Country: U.S., leading in terms of revenue with value of 2,362.05 USD Million in 2024.
Segments and Scope
-
North America Electrical Steel Market to 2032, By Thickness
- 0.23 MM is the largest segment in North America Electrical Steel Market to 2032 with a revenue of 1.78 USD Billion in the year 2024.
- 0.23 MM is the Fastest growing segment in North America Electrical Steel Market to 2032 with a Growth rate of 6.73 % in forecast period 2025-2032.
-
North America Electrical Steel Market to 2032, By Product Type
- Non-Grain Oriented Electrical Steel is the largest segment in North America Electrical Steel Market to 2032 with a revenue of 2.57 USD Billion in the year 2024.
- Non-Grain Oriented Electrical Steel is the Fastest growing segment in North America Electrical Steel Market to 2032 with a Growth rate of 6.43 % in forecast period 2025-2032.
-
North America Electrical Steel Market to 2032, By End-User
- Energy and Power is the largest segment in North America Electrical Steel Market to 2032 with a revenue of 1.86 USD Billion in the year 2024.
- Automotive is the Fastest growing segment in North America Electrical Steel Market to 2032 with a Growth rate of 6.45 % in forecast period 2025-2032.
-
North America Electrical Steel Market to 2032, By Application
- Motors is the largest segment in North America Electrical Steel Market to 2032 with a revenue of 1.12 USD Billion in the year 2024.
- Motors is the Fastest growing segment in North America Electrical Steel Market to 2032 with a Growth rate of 7.16 % in forecast period 2025-2032.
-
North America Electrical Steel Market to 2032, By Flux Density
- Above 1.76 Tesla is the largest segment in North America Electrical Steel Market to 2032 with a revenue of 1.65 USD Billion in the year 2024.
- Above 1.76 Tesla is the Fastest growing segment in North America Electrical Steel Market to 2032 with a Growth rate of 6.71 % in forecast period 2025-2032.
-
North America Electrical Steel Market to 2032, By Core Losses
- Less than 0.9 W/KG is the largest segment in North America Electrical Steel Market to 2032 with a revenue of 1.81 USD Billion in the year 2024.
- Less than 0.9 W/KG is the Fastest growing segment in North America Electrical Steel Market to 2032 with a Growth rate of 6.67 % in forecast period 2025-2032.
North America Electrical Steel Market Company Share Analysis
| Company Name |
|
||
| ArcelorMittal | |||
| voestalpine AG | |||
| JFE Steel Corporation | |||
| thyssenkrupp AG | |||
| Cleveland-Cliffs Inc. | |||
North America Electrical Steel Market Geographical Sales Distribution, 2018-2032 USD Billion
North America Electrical Steel Market Company Profiling
Industry Related Reports
Frequently Asked Questions
The North America Electrical Steel Market is segmented based on Segmentation Thickness,Product Type,End-User,Application, Flux Density,Core Losses.
North America Electrical Steel Market was valued at USD 4.19(Revenue in USD Billion) in 2023.
North America Electrical Steel Market is projected to grow at a CAGR of 6.39% during the forecast period of 2024 to 2032.
The Non-Grain Oriented Electrical Steel segment is expected to dominate the North America Electrical Steel Market, holding a largest market share of 2.57 USD Billion in 2024
North America Electrical Steel Market Scope
North America Electrical Steel Market Segmentation & Scope
Thickness
- 0.23 MM
- 0.27 MM
- 0.35 MM
- Others
- 0.65 MM
- 0.5 MM
- 0.30 MM
Product Type
- Grain Oriented Electrical Steel
- Non-Grain Oriented Electrical Steel
End-User
- Others
- Household Appliances
- Building and Construction
- Automotive
- Engineering
- Energy and Power
Application
- Others
- Wound Cores
- Shunt Reactors
- Convertors
- Battery
- Motors
- Electrical Ballasts
- Inductors
- Transformers
- Power Generators
Flux Density
- Less than 1.65 Tesla
- 1.65 Tesla to 1.69 Tesla
- 1.69 Tesla to 1.73 Tesla
- 1.73 Tesla to 1.76 Tesla
- Above 1.76 Tesla
Core Losses
- Above 1.39 W/KG
- 1.30 W/KG to 1.39 W/KG
- 1.00 W/KG to 1.29 W/KG
- 0.90 W/KG to 0.99 W/KG
- Less than 0.9 W/KG
Frequently Asked Questions
The North America Electrical Steel Market is segmented based on Segmentation Thickness,Product Type,End-User,Application, Flux Density,Core Losses.
North America Electrical Steel Market was valued at USD 4.19(Revenue in USD Billion) in 2023.
North America Electrical Steel Market is projected to grow at a CAGR of 6.39% during the forecast period of 2024 to 2032.
The estimated market value of the North America Electrical Steel Market for final year is USD 6.87 (USD Billion).
North America Electrical Steel Market Company Profiling
Frequently Asked Questions
The North America Electrical Steel Market is segmented based on Segmentation Thickness,Product Type,End-User,Application, Flux Density,Core Losses.
North America Electrical Steel Market was valued at USD 4.19(Revenue in USD Billion) in 2023.
North America Electrical Steel Market is projected to grow at a CAGR of 6.39% during the forecast period of 2024 to 2032.
The estimated market value of the North America Electrical Steel Market for final year is USD 6.87 (USD Billion).
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