Us Electrical Steel Sheets for Electric Vehicle Market Size By Applications, By Type, By End-User, By Deployment & By Technology 2032
Electrical Steel Sheets for Electric Vehicle Market was valued at USD 2.5 Billion in 2022 and is projected to reach USD 7.8 Billion by 2030, growing at a CAGR of 15.7% from 2024 to 2030.
The U.S. electrical steel sheet market is experiencing a significant surge, driven primarily by the burgeoning electric vehicle (EV) industry. As automakers intensify their shift towards electrification, the demand for high-quality electrical steel, essential for EV motors, is escalating rapidly.
In 2022, the U.S. electrical steel market was valued at approximately $3.85 billion and is projected to grow at a compound annual growth rate (CAGR) of 5.6% through 2030. This growth is largely attributed to the increasing adoption of EVs, which require specialized non-grain-oriented electrical steel (NOES) for efficient motor function.
Recognizing this demand, major industry players are making substantial investments to enhance domestic production capacities. ArcelorMittal, for instance, announced plans to construct an advanced steel manufacturing facility in Calvert, Alabama, with an estimated investment of $0.9 billion. This plant aims to produce up to 150 kilotons of premium NOES annually, specifically catering to the automotive sector's needs. Production is slated to commence in the latter half of 2027.
Similarly, U.S. Steel is advancing its capabilities with the introduction of its "InduX" line at the Big River Steel plant in Osceola, Arkansas. This facility is expected to achieve full production of 200,000 tons per year by 2025, focusing on thinner gauges of NOES ranging between 0.1-0.5 millimeters. Such specifications are crucial for modern EV motors, which demand materials that offer high efficiency and performance.
Despite these expansions, industry experts express concerns about potential supply constraints. John Ganem, CEO of Kloeckner Metals Corporation, highlighted that the demand for electrical steel is poised to outpace supply, given the limited number of domestic producers. This imbalance could lead to premium pricing and potential challenges for automakers striving to meet production targets.
Moreover, recent policy decisions may further impact the market dynamics. In August 2024, the U.S. government reinstated a 25% tariff on steel imports, aiming to bolster domestic manufacturing. While this move seeks to protect local industries, it could also lead to increased production costs for automakers, potentially affecting EV prices for consumers.
In my experience working within the automotive supply chain, the emphasis on securing a reliable source of high-quality electrical steel has never been more pronounced. Manufacturers are not only focusing on expanding capacities but also on innovating to produce steel that meets the stringent requirements of modern EVs. The interplay of market demand, production capabilities, and policy decisions will undoubtedly shape the future landscape of the U.S. electrical steel sheet market in the context of electric vehicle manufacturing.
Get an In-Depth Research Analysis of the Global Electrical Steel Sheets for Electric Vehicle Market Size And Forecast [2025-2032]
Nippon Steel
JFE Steel
Posco
NSSMC
NLMK Group
ThyssenKrupp
AK Steel
Nucor
Voestalpine
TATA Steel
ArcelorMittal
CSC
WISCO
Baosteel
Ansteel
Shougang
Benxi Steel
TISCO
Masteel
Stalprodukt
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Electrical Steel Sheets for Electric Vehicle Market
Passenger Electric Vehicles
Commercial Electric Vehicles
Grain-Oriented Electrical Steel
Non-Grain-Oriented Electrical Steel
Electric Motor
Battery Management System
Automotive Industry
Electric Vehicle Manufacturers
Uncoated Electrical Steel
Coated Electrical Steel
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Electrical Steel Sheets for Electric Vehicle Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Electrical Steel Sheets for Electric Vehicle Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Electrical Steel Sheets for Electric Vehicle Market, By Type
6. Global Electrical Steel Sheets for Electric Vehicle Market, By Application
7. Global Electrical Steel Sheets for Electric Vehicle Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Electrical Steel Sheets for Electric Vehicle Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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