Grain Oriented Electrical Steel Market, Global Outlook and Forecast 2025-2032

Market Size

The global Grain Oriented Electrical Steel market size was estimated at USD 9327 million in 2023 and is projected to reach USD 13860.81 million by 2032, exhibiting a CAGR of 4.50% during the forecast period.

North America Grain Oriented Electrical Steel market size was estimated at USD 2621.45 million in 2023, at a CAGR of 3.86% during the forecast period of 2024 through 2032.

Click Here to Download a free Sample Report PDF

Market Dynamics (Drivers, Restraints, Opportunities, and Challenges):

Drivers:

1. Increasing Demand for Energy-Efficient Transformers: The rising need for energy-efficient power distribution systems and transformers drives the demand for grain oriented electrical steel, which offers superior magnetic properties for efficient electricity conversion.

2. Growth in Renewable Energy Projects: The expansion of renewable energy projects worldwide fuels the demand for grain oriented electrical steel in generators and motors, supporting the market growth.

3. Technological Advancements in Electrical Steel Manufacturing: Continuous innovations in the manufacturing process of grain oriented electrical steel to enhance its magnetic properties and performance boost market growth and adoption in various industries.

Restraints:

1. Volatile Raw Material Prices: Fluctuations in the prices of raw materials used in the production of grain oriented electrical steel can impact the overall production costs, posing a challenge for market players.

2. Regulatory Compliance and Environmental Concerns: Stringent regulations regarding environmental sustainability and emissions control in steel manufacturing processes can act as a restraint for market expansion and product development.

3. Intense Competition in the Steel Industry: The presence of numerous steel manufacturers competing in the market creates pricing pressures and challenges in maintaining profitability for grain oriented electrical steel producers.

Opportunities:

1. Emerging Markets in Developing Countries: The untapped potential in developing regions presents opportunities for market expansion and penetration of grain oriented electrical steel products in new geographies.

2. Increasing Adoption of Electric Vehicles: The growing adoption of electric vehicles worldwide opens avenues for the use of grain oriented electrical steel in electric motors and components, creating new market opportunities.

3. Technological Innovations and Product Development: Investments in research and development to introduce advanced grain oriented electrical steel products with enhanced properties and performance levels can drive market growth and differentiation.

Challenges:

1. Supply Chain Disruptions: Disruptions in the supply chain, including logistics challenges and raw material shortages, can impact the production and delivery of grain oriented electrical steel, posing challenges for manufacturers.

2. Trade Tariffs and Export Restrictions: Imposition of trade tariffs and export restrictions on steel products can hinder the global market reach and competitiveness of grain oriented electrical steel manufacturers.

3. Economic Uncertainty and Market Volatility: Fluctuations in global economic conditions and market volatility can affect consumer demand and investment decisions, leading to uncertainties in the grain oriented electrical steel market landscape.

Regional Analysis

North America: The North America Grain Oriented Electrical Steel market is estimated at USD 2621.45 million in 2023, with a CAGR of 3.86% projected through 2032.

Europe: Europe showcases a growing demand for Grain Oriented Electrical Steel, especially in countries like Germany, UK, France, and Italy, with significant market potential.

Asia-Pacific: The Asia-Pacific region, including China, Japan, and India, presents a lucrative market for Grain Oriented Electrical Steel due to increasing industrial applications.

South America: South America, with countries like Brazil and Argentina, is also witnessing a rise in demand for Grain Oriented Electrical Steel, driven by infrastructure development.

Middle East & Africa: The Middle East and Africa region, with countries like Saudi Arabia and UAE, offers growth opportunities for the Grain Oriented Electrical Steel market with expanding industries.

Competitor Analysis:

Major Competitors: The key companies leading the global Grain Oriented Electrical Steel market include Baowu Group, Nippon Steel, NLMK, Shougang, AK Steel (Cleveland-Cliffs), ThyssenKrupp, Posco, JFE Steel, Stalprodukt S.A., Chongqing Wangbian, Baotou Weifeng, Zhejiang Huaying, Aperam, and Wuxi Huajing.

Market Share & Influence: Among the major competitors, Baowu Group, Nippon Steel, and AK Steel hold significant market share and influence in the global market for Grain Oriented Electrical Steel. These companies have a strong presence in key regions and play a crucial role in shaping market dynamics.

Strategies: The key growth strategies adopted by these competitors include product innovation, strategic partnerships, pricing strategies, and geographical expansion. Companies like Nippon Steel and AK Steel focus on continuous product development to maintain a competitive edge, while Baowu Group and ThyssenKrupp emphasize expanding their market reach through strategic collaborations.

Competitive Positioning: Each of the major competitors in the Grain Oriented Electrical Steel market has unique competitive positioning. For instance, Baowu Group is known for its extensive product portfolio and global presence, while Nippon Steel is recognized for its technological advancements. AK Steel focuses on operational efficiency and customer service, positioning itself as a reliable supplier in the market.

Market Segmentation (by Application)

• Transformer

• Motor

• Others

Market Segmentation (by Type)

• High Magnetic Strength

• Conventional

Key Company

• Baowu Group

• Nippon Steel

• NLMK

• Shougang

• AK Steel (Cleveland-Cliffs)

• ThyssenKrupp

• Posco

Geographic Segmentation

• North America (USA, Canada, Mexico)

• Europe (Germany, UK, France, Russia, Italy, Rest of Europe)

• Asia-Pacific (China, Japan, South Korea, India, Southeast Asia, Rest of Asia-Pacific)

• South America (Brazil, Argentina, Columbia, Rest of South America)

• The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, South Africa, Rest of MEA)

Key Benefits of This Market Research

• Industry drivers, restraints, and opportunities covered in the study

• Neutral perspective on the market performance

• Recent industry trends and developments

• Competitive landscape & strategies of key players

• Potential & niche segments and regions exhibiting promising growth covered

• Historical, current, and projected market size, in terms of value

• In-depth analysis of the Grain Oriented Electrical Steel Market

• Overview of the regional outlook of the Grain Oriented Electrical Steel Market

Key Reasons to Buy this Report

• Access to date statistics compiled by our researchers

• Enable you to anticipate market changes to remain ahead of your competitors

• You will be able to copy data from the Excel spreadsheet straight into your marketing plans

• The concise analysis, clear graph, and table format will enable you to pinpoint the information you require quickly

• Provision of market value data for each segment and sub-segment

• Indicates the region and segment that is expected to witness the fastest growth

• Analysis by geography highlighting the consumption of the product/service in the region

FAQ 

01. What is the current market size of [Grain Oriented Electrical Steel Market]?

Electrical steel, also known as silicon steel or transformer steel, is an alloy of iron and silicon that is crucial for building transformer cores, stators, and generators. The grain oriented electrical steel market has been estimated at USD 9327 million in 2023, with a projected growth to USD 13860.81 million by 2032, showcasing a CAGR of 4.50% over the forecast period. In North America specifically, the market size was estimated at USD 2621.45 million in 2023, with a CAGR of 3.86% expected from 2024 to 2032.

02. Which key companies operate in the [Grain Oriented Electrical Steel Market]?

Several key players dominate the Grain Oriented Electrical Steel market, including Baowu Group, Nippon Steel, NLMK, Shougang, AK Steel (Cleveland-Cliffs), ThyssenKrupp, Posco, JFE Steel, Stalprodukt S.A., Chongqing Wangbian, Baotou Weifeng, Zhejiang Huaying, Aperam, and Wuxi Huajing.

03. What are the key growth drivers in the [Grain Oriented Electrical Steel Market]?

The Grain Oriented Electrical Steel Market is largely driven by the rising demand for efficient electric transformers in various applications such as transformers, motors, and others. Factors like increasing urbanization, industrialization, and the implementation of smart grid infrastructure are expected to fuel the market growth. Additionally, advancements in material technology, energy-efficient products, and the focus on renewable energy sources are key growth drivers in the market.

04. Which regions dominate the [Grain Oriented Electrical Steel Market]?

The market for Grain Oriented Electrical Steel is dominated by several regions globally, including North America, Europe, Asia-Pacific, South America, and the Middle East and Africa. Among these, North America currently holds a significant share in the market, followed by Europe and Asia-Pacific. These regions lead in terms of demand, supply, and market share due to industrial development, technological advancements, and infrastructure investments.

05. What are the emerging trends in the [Grain Oriented Electrical Steel Market]?

The Grain Oriented Electrical Steel market is witnessing several emerging trends that are shaping its future trajectory. These include:

• The adoption of high magnetic strength and conventional types of steel

• The increasing application of electrical steel in transformers and motors

• The development of innovative products by key players

• The focus on sustainable energy solutions

Click Here to Download a free Sample Report PDF

𝗠𝗼𝗿𝗲 𝗔𝗿𝘁𝗶𝗰𝗹𝗲𝘀 𝗙𝗿𝗼𝗺 𝟮𝟰𝗖𝗵𝗲𝗺𝗶𝗰𝗮𝗹 𝗥𝗲𝘀𝗲𝗮𝗿𝗰𝗵

𝟮𝟰𝗖𝗵𝗲𝗺𝗶𝗰𝗮𝗹𝗥𝗲𝘀𝗲𝗮𝗿𝗰𝗵: https://www.linkedin.com/company/24chemicalresearchold/

𝐂𝐡𝐞𝐦𝐢𝐜𝐚𝐥𝐬𝐅𝐨𝐫𝐞𝐜𝐚𝐬𝐭:https://sites.google.com/view/chemicalsforecast/

𝐅𝐮𝐭𝐮𝐫𝐞 𝐎𝐟 𝐂𝐡𝐞𝐦𝐢𝐜𝐚𝐥 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲:https://sites.google.com/view/thefutureofchemicalsindustry/

𝐀𝐝𝐯𝐚𝐧𝐜𝐞𝐝 𝐌𝐚𝐭𝐞𝐫𝐢𝐚𝐥𝐬:

https://www.linkedin.com/pulse/polyester-enamelled-copper-wire-market-sizedemand-tnfrc

https://www.linkedin.com/pulse/ingaas-swir-area-arrays-market-sizedemand-putic

https://www.linkedin.com/pulse/infrared-glass-market-sizedemand-supply-regional-f1fxc

https://www.linkedin.com/pulse/hydrogen-storage-high-entropy-alloys-market-zwc8c

𝐁𝐢𝐨-𝐛𝐚𝐬𝐞𝐝 𝐂𝐡𝐞𝐦𝐢𝐜𝐚𝐥𝐬:

https://www.linkedin.com/pulse/honokiol-market-sizedemand-supply-regional-qu8sc

https://www.linkedin.com/pulse/hulled-hemp-seed-cakes-market-sizedemand-hzwac

𝐈𝐧𝐨𝐫𝐠𝐚𝐧𝐢𝐜 𝐌𝐚𝐭𝐞𝐫𝐢𝐚𝐥𝐬:https://www.linkedin.com/pulse/hydrated-silicon-dioxide-market-sizedemand-36zic

𝐒𝐩𝐞𝐜𝐢𝐚𝐥𝐢𝐭𝐲 𝐂𝐡𝐞𝐦𝐢𝐜𝐚𝐥𝐬:

https://www.linkedin.com/pulse/glucosamine-chondroitin-calcium-tablets-market-jkspc

https://www.linkedin.com/pulse/insulin-cold-chain-logistics-package-market-vi6qc

https://www.linkedin.com/pulse/hafnium-chloride-market-sizedemand-supply-regional-zfxae

https://www.linkedin.com/pulse/hexamethyldisilane-market-sizedemand-supply-60j6e

https://www.linkedin.com/pulse/nutraceutical-grade-glutamine-market-sizedemand-yhsme

https://www.linkedin.com/pulse/1-4-cyclohexanedicarboxylic-acid-manufacturers-vbxre

𝐎𝐫𝐠𝐚𝐧𝐢𝐜 𝐌𝐚𝐭𝐞𝐫𝐢𝐚𝐥𝐬:https://www.linkedin.com/pulse/glue-laminated-timber-market-sizedemand-supply-cnqxc

𝐅𝐢𝐥𝐥𝐞𝐫𝐬:https://www.linkedin.com/pulse/highly-dispersible-silica-market-sizedemand-zdose