Non-Grain Oriented Electrical Steel Market Overview, Analysis And Demand By 2034


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What Is the Current Market Size and Growth Rate of the Non-Grain Oriented Electrical Steel Market?
The non-grain oriented electrical steel market size has grown steadily in recent years. It will grow from $14.83 billion in 2024 to $15.31 billion in 2025 at a compound annual growth rate (CAGR) of 3.2%. The growth in the historic period can be attributed to industrial revolution impact, electrification of industries, research and development, urbanization and infrastructure growth, emergence of energy-efficient appliances.

The non-grain oriented electrical steel market size is expected to see steady growth in the next few years. It will grow to $18.56 billion in 2029 at a compound annual growth rate (CAGR) of 4.9%. The growth in the forecast period can be attributed to supply chain optimization, industry 4.0 and automation, smart grid development, electric vehicle revolution, recycling and sustainability. Major trends in the forecast period include data-driven maintenance strategies, localized manufacturing, material traceability and transparency, resilience to high temperatures, and IoT integration in electrical steel.

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Who Are the Major Contributors to the Non-Grain Oriented Electrical Steel Market Growth?
The rising adoption of electric vehicles (EV) is expected to propel the growth of the non-grain-oriented electrical steel market going forward. The electric vehicle is an automotive that can be powered by an electric motor that takes electricity from a battery and can be charged from an external source. The non-oriented electrical steel enhances the performance of the electric motor used as the core material in electric vehicles; as a result, the rising adoption of electric vehicles increases the demand for non-grain oriented electrical steel. For instance, in January 2024, according to a report published by Kelley Blue Book, a US-based Cox Automotive company, in 2023, a record 1.2 million car buyers in the United States chose electric vehicles, which accounted for 7.6% of the entire U.S. vehicle market, up from 5.9% in 2022. Therefore, the rising adoption of electric vehicles drives the non-grain-oriented electrical steel market.

Which Segments Are Attracting Maximum Investment in the Non-Grain Oriented Electrical Steel Market?
The non-grain oriented electrical steel market covered in this report is segmented –

1) By Product: Fully Processed, Semi-processed
2) By Thickness: 0.35 mm, 0.5 mm, 0.65 mm, Other Thickness
3) By Application: Inductors, Transformers, Motors, Other Applications
4) By End User: Automotive Industry, Aviation, Power, Domestic Appliances, Other End Users

Subsegments:
1) By Fully Processed: Cold Rolled Electrical Steel, Hot Rolled Electrical Steel
2) By Semi-Processed: Cold Rolled Non-Grain Oriented Steel, Hot Rolled Non-Grain Oriented Steel

What Are the Notable Trends in the Non-Grain Oriented Electrical Steel Market by Product, Application, and Region?
Product innovation is the major trend gaining momentum in the non-grain-oriented electrical steel market. Major companies operating in the non-grain-oriented electrical steel market are focused on developing innovative products to strengthen their position in the market. For instance, in December 2022, Cleveland-Cliffs Inc., a US-based mining and manufacturing company of electrical steel, iron ore, and other ferroalloys, launched MOTOR-MAX. This product is a high-frequency non-oriented electrical steel (HF NOES) that can enhance the engine's ultimate performance and efficiency developed for high-speed engines, electric vehicle (EV) propulsion motors, aviation generators, and other rotating machinery.

Which Are the Top Companies in the Non-Grain Oriented Electrical Steel Market?
Major companies operating in the non-grain oriented electrical steel market include ThyssenKrupp AG, ArcelorMittal SA, Pohang Iron and Steel Company (POSCO), Nippon Steel Corporation, Ansteel Group Corporation Limited, Shagang Group Co. Ltd., Shougang Group Co. Ltd., Baosteel Group Corporation, JFE Holdings Inc., Tata Steel Limited, United States Steel Corporation, Voestalpine AG, NoVo Lipetsk Steel, Benxi Steel Group Co. Ltd, Aperam S.A., China BaoWu Steel Group Corporation Limited, Taiyuan Iron and Steel Co. Ltd., Malaysia Steel Works (KL) Bhd., CSC Steel Sdn. Bhd., Arnold Magnetic Technologies Corporation, Yieh Corp., Lamination Specialties Corp., AK Steel International B.V, Johnson Bros. Roll Forming Co., Continental Steel & Tube Co., TC Metal Co., AAA Metals Co. Inc.

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What Are the Regional Opportunities for Investment in the Non-Grain Oriented Electrical Steel Market?
Asia Pacific was the largest region in the non-grain oriented electrical steel market in 2024. The regions covered in the non-grain oriented electrical steel market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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