Non-Grain Oriented Electrical Steel Market to Reach USD 27.92 Billion by 2032, Fueled by Growing Demand for Electrical Equipment | SNS Insider
The Non-Grain Oriented Electrical Steel Market is experiencing substantial growth, driven by the increasing need for high-performance electrical equipment across various industries.
Austin, Feb. 07, 2025 (GLOBE NEWSWIRE) — The SNS Insider report indicates that, “The Non-Grain Oriented Electrical Steel Market was valued at USD 17.91 billion in 2023 and is projected to reach USD 27.92 billion by 2032, growing at a CAGR of 5.06% from 2024 to 2032.”
The market growth is attributed to the rising demand for electrical transformers, motors, and generators, where non-grain oriented electrical steel is widely used due to its superior magnetic properties and efficiency in electrical systems. Moreover, the growing adoption of renewable energy sources and the ongoing expansion of power transmission infrastructure are driving market demand for non-grain oriented electrical steel.
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Key Players:
- Tata Steel (Non-grain oriented electrical steel, High permeability grades)
- Nucor Corporation (Electrical steel, Cold-rolled non-oriented steel)
- Nippon Steel Corporation (Grain-oriented and non-grain-oriented electrical steel)
- ThyssenKrupp Steel Europe (Electrical steel, Grain-oriented steel)
- Arcelor Mittal (non-grain oriented electrical steel, High-efficiency electrical steel)
- NLMK (Cold-rolled electrical steel, non-grain-oriented steel)
- POSCO (Cold-rolled electrical steel, High-performance non-grain-oriented steel)
- Shougang Group (Electrical steel, non-grain-oriented steel)
- Benxi Steel Group Co Ltd (Non-grain oriented electrical steel, Electrical steel for transformers)
- Baosteel Group Co (Grain-oriented electrical steel, Cold-rolled electrical steel)
- JFE Steel Corporation (Non-grain oriented electrical steel, High-silicon steel)
- Hyundai Steel (Electrical steel, non-grain-oriented steel)
- Severstal (Cold-rolled electrical steel, non-grain-oriented steel)
- AK Steel (Electrical steel, non-grain-oriented silicon steel)
- Voestalpine AG (Cold-rolled non-grain oriented electrical steel)
- United States Steel Corporation (Non-grain oriented electrical steel, Electrical steel for transformers)
- Shougang Jingtang United Iron & Steel Co., Ltd. (Electrical steel, non-grain-oriented steel)
- China Steel Corporation (Electrical steel, High-efficiency non-grain-oriented steel)
- Outokumpu (Electrical steel, non-grain oriented high permeability steel)
- Essar Steel (Electrical steel, High-silicon non-grain-oriented steel)
Non-Grain Oriented Electrical Steel Market Report Scope:
| Report Attributes | Details |
| Market Size in 2023 | USD 17.91 Million |
| Market Size by 2032 | USD 27.92 Million |
| CAGR | CAGR of 5.06% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By thickness (0.35 mm, 0.5 mm, 0.65 mm, and other) • By Type (Semi Processed and Fully Processed) • By Application (Household appliance, AC Motor, Power Generation, and Other) |
| Key Drivers | • The non-grain-oriented electrical steel market is driven by rising demand for energy-efficient appliances, renewable energy adoption, and the growing EV industry, supported by advancements in production technologies. |
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By Type, Semi- processed segment held the largest market share around 62% in 2023
It is driven by usage for various applications, especially electrical transformers, motors, and other electrical equipment. Semi-processed NGO steel strikes a good balance between performance and cost and is well suited for applications that require an efficient magnetic path at a lower price than fully processed steel can provide. This steel type has a cost advantage over others and is made for large-scale applications like power transformers and industrial motors, where cost savings is much desired, while low losses are still desirable.
By Application, the Power Generation Sector Held the Largest Market Share of Around 42% in 2023
Non-grain oriented electrical steel plays a crucial role in the power generation sector, particularly in transformers and generators, due to its high permeability and low core loss. The increasing global demand for electricity, coupled with the rise of renewable energy initiatives, has significantly boosted the need for reliable power generation infrastructure. The adoption of high-performance transformers and generators that utilize non-grain oriented electrical steel is increasing, especially in regions focusing on upgrading their electrical grids and expanding renewable energy capacity.
Asia Pacific held the largest market share around 34% in 2023.
It is owing to major manufacturing hubs in China, Japan and South Korea. Owing to their strong industrial base, these countries are prominent producers and consumers of electrical steel. Especially China, which has the highest production based on the to the extensive manufacturing infrastructure and high demand for the industrial product in automotive, energy and construction, and so on. Given the growth of automotive, particularly electric vehicle production, and the growth of the renewable energy infrastructure, the demand for electrical (grain-oriented and non-oriented) steel is also growing in the region. Furthermore, innovations in manufacturing technologies and an emphasis on energy-efficient solutions have made the region a leader in the global market.
Recent Highlights
- In 2024, Tata Steel announced the expansion of its production capacity for non-grain oriented electrical steel, with a focus on meeting the increasing demand from the renewable energy and power transmission sectors.
- In 2024, POSCO introduced a new range of high-efficiency non-grain oriented electrical steel aimed at enhancing the performance of electric motors and transformers used in renewable energy applications.
Table of Contents – Major Key Points
1. Introduction
2. Executive Summary
3. Research Methodology
4. Market Dynamics
5. Statistical Insights and Trends Reporting
6. Competitive Landscape
7. Non-Grain Oriented Electrical Steel Market Segmentation, By Thickness
8. Non-Grain Oriented Electrical Steel Market Segmentation, By Type
9. Non-Grain Oriented Electrical Steel Market Segmentation, By Application
10. Regional Analysis
11. Company Profiles
12. Use Cases and Best Practices
13. Conclusion
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