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Electrical steel also referred to as (lamination steel, silicon electrical steel, silicon steel, relay steel transformer steel) is a soft specialty magnetic steel which is produced by customizing the magnetic properties of usual steel in order to achieve improved efficiency, low power loss per cycle, high permeability and low core loss in electrical components. It is used in the production of various devices such as core of generators, electric motors; small relays power transformers, inductors, battery among other equipments.

They are mostly used for lamination methods in the cores of electrical components and are designed to provide high magnetic flux density, increased resistivity, reduced dissipation of heat, reduced carbon dioxide emission alongside other functions and are widely used in the automotive, energy and manufacturing industries, among others.

Electrical Steel Market - Fast. MR

These high-power steels are more environment-friendly, can store the energy for long and can be used at the time of need for which they are highly desired to be used in appliances such as air conditioners, refrigerators, and high-power coolers.

The global electrical steel market is anticipated to witness growth at a more than healthy CAGR in the years to come.


The growth of this market is attributed towards major relying factors including; the globally increasing infrastructure activities, the rapidly rising demand in power sector, the surge in industrialization worldwide, the robustly growing investment in infrastructure development, the growth in infrastructure demand leading to the increasing per capita consumption of electricity, the increasing usage of electrical steel in power industry, the rapidly shifting of developed and developing economies in the direction of sustainable and efficient energy systems etc.

Additionally, the proliferating government regulations and policies in several countries aiming to reduce carbon dioxide emission and the usage of transformers has increased product development in order to enhance properties for the purpose of manufacturing efficient cores. This has led to the expansion of the global electrical steel market extravagantly.

Moreover, coating of electrical steels with suitable materials improve their ability to withstand stress relief anneals, punch ability, and electrical resistance. The increasing application of surface coatings of electrical steel will rapidly contribute to augment the market growth.

Furthermore, factors such as increasing application of electric steels in high-speed electronic cars, growing demand for electric steel from the automotive industry to produce various automobile components, increasing urban population, growing technological advancements, rising disposable incomes of people, growth in government initiatives, increasing urbanization, increasing demand from energy generation & transmission industries and the growth in deployment of renewable energy will further propel the growth of this market.

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However, volatile prices of raw materials, high cost of investments of production and distribution, the growing importance of nickel-iron alloys which are the more innovative and advanced solution as compared to electrical steels, issues associated with the production of electrical steels, complexities associated with the reprocessing of electrical steels and various technological and safety constraints are factors which hamper the growth of this market.


By Type:

  • Grain- Oriented
  • Non-Grain- Oriented

By Product:

  • Grain-Oriented Electrical Steel
    • By application
      • Large power transformers
      • Distribution transformers
      • Small transformers
      • Power Generators
      • Audio transformers
      • Others
  • Non-Grain Oriented Electrical Steel
    • By Product
      • Semi-processed
      • Fully processed
    • By Application
        • Power generators
        • Motors
        • Ballasts
        • Rotating machines
        • Small transformers
        • Audio transformers
      • Others

By End-Use Industry:

  • Energy
  • Automobiles
  • Manufacturing
  • Household Appliances
  • Others 

By Region:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa


The North American region holds the largest share in the electrical steels market and is projected to account for tremendous growth in the coming years. The growth can be attributed to the growing demand for automotive and electric vehicles in the region, increasing urbanization, growing electric vehicles sales, increasing electrical steel production in major economies of the region and the rising technological advancements in the region alongside various other relevant factors. The major contributors in the region are U.S, Canada and Mexico.

The Asia Pacific region is the fastest growing and the second largest regional market for electrical steels and is expected to grow at an exponential growth rate in the upcoming years owing to factors such as the high requirement and consumption of electricity in the region, the presence of various key and prominent steelmakers in the region, the rapidly increasing population and urbanization coupled with the availability of labor and raw materials at low-cost in the region, rising government initiatives, substantially increasing developments in the construction sector etc. along with other associated factors influencing the market. India, China and Japan are the major contributors in the region.

The European region holds a significant share in the electrical steels market and is expected to witness robust growth in the years to follow as a result of the growing electricity consumption, rising urban and sub-urban population, massive development of industries such as construction and automotive in the countries in the region, the surging investments for renovation and upgradation of grid infrastructures and the rapidly increasing use of steel in manufacturing of motors, power generators and various other transformers in the region etc. The major contributors in the region are Germany, UK, Spain, France and Italy.


  • Arnold Magnetic Technologies
  • Nippon Steel & Sumitomo Metal Corporation
  • NLMK
  • Voestalpine AG
  • Thyssenkrupp AG
  • JFE Steel Corporation
  • Cogent Power Limited
  • Aperam
  • Baosteel Group Corporation
  • AK Steel Corporation
  • ArcelorMittal
  • ATI
  • Schneider Electric
  • Nicore Electrical Manufactory Co. Ltd.
  • MITSUI & Co.
  • Cleveland-Cliffs Inc.
  • Slovenian Steel Group
  • Tata Steel
  • Other Players


-In December 2020, China’s top listed steelmaker Baoshan Iron & Steel Co. Ltd. started construction of a high-grade non-oriented silicon steel project with a total investment at 2.72 billion yuan ($416.90 million) as per reports. The project is designed for new energy vehicle (NEV) usage and is aimed to produce 500,000 tonnes of the steel product per year.

-In December 2020, The US Department of Commerce (USDOC) and the US International Trade Commission (USITC) found that it may lead to the continuation or recurrence of dumping and subsidies if the anti-dumping (AD) duty on non-oriented electrical steel from China, Germany, Japan, South Korea, Sweden, and Taiwan, and the countervailing duty (CVD) on China and Taiwan are canceled.

Timeline Considered for Analysis:
- 2019: Base Year
- 2020 to 2025: Forecast Period

Research Scope and Deliverables
-Overview & Executive Summary
-Market Drivers, Trends, Challenges and Opportunities
-Market Size and Forecast Projections
-Macroeconomic Indicators of Various Countries Impacting the Growth of the Market
-Extensive Coverage of Industry Players including Recent Product Launches and Market Activities
-Porter’s Five Force Analysis

Market Segmentation Analysis:

Industry report analyzes the global electrical steel market by the following segments:

  • Type
  • Product
  • End-Use Industry

Customization: We also offers customization’s in the industry report as per the company’s specific needs.

Key Questions Answered in the Global Electrical Steel Industry Report

  • What is the overall market size in 2019? What will be the market growth during the forecast period i.e. 2020-2025?
  • Which region would have high demand for product in the upcoming years?
  • What are the factors driving the growth of the market?
  • Which sub-market will make the most significant contribution to the market?
  • What are the market opportunities for existing and entry-level players?
  • What are various long-term and short-term strategies adopted by the market players?

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