Global Electrical Steel Market to Grow at 6.07% During 2022-2027, Impelled by Up-Gradation of Grid Network

December 10, 2021

According to the latest report by IMARC Group, titled "Electrical Steel Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the global electrical steel market reached a value of US$ 35.4 Billion in 2021. Electrical steel refers to a ferromagnetic material that is mainly used in the manufacturing of automobiles and electromagnetic devices. It is generally manufactured using iron and silicon that provides increased resistivity and permeability while reducing hysteresis loss. It is usually melted or cast continuously in an oxygen furnace for attaining the desired shape and thickness while removing the impurities and brittle materials. As a result, it is extensively utilized in the production of rotating and static machines, such as power and distribution transformers, magnetic switches and relays, hermetic and intermittent service motors, inductors, solenoids, and batteries.

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries.These observations will be integrated into the report.

Global Electrical Steel Market Trends: 

The global market is primarily driven by the rising adoption of electric vehicles (EVs). Coupled with the increasing preferences for light-weighted automobile variants among individuals, this is providing an impetus to the market growth on the global level. Along with this, rising investments and funding toward infrastructural development projects, including metro stations, warehouses and industrial buildings, is acting as one of the key factors driving the growth of the market. Moreover, the increasing government initiatives promoting the use of renewable resources and the rising need for efficient power transmission, especially across remote locations, are creating a positive outlook for the market. Also, the increasing upgradation activities of existing grid networks and smart grids development are also bolstering the demand for electrical steel. Other factors, including continuous improvements in the automotive and energy industries and extensive research and development (R&D) activities conducted by key players, are also contributing to the market growth. On account of the aforementioned factors, the market is anticipated to grow at a CAGR of 6.07% during the forecast period (2022-2027). 

Market Summary:

  • On the basis of the type, the market has been bifurcated into grain-oriented electrical steel and non-grain-oriented electrical steel.
  • Based on the application, the market has been segmented into transformers, motors, generators and others.
  • On the basis of the end-use industry, the market has been segregated into energy and power, automobiles, household appliances, building and construction and others.
  • Based on the region, the market has been divided into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Latin America (Brazil, Mexico and others) and the Middle East and Africa.
  • The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market. Some of these players include Aperam, ArcelorMittal, Baoshan Iron & Steel Co. Ltd. (China Baowu Steel Group Corp. Ltd.), China Steel Corporation, JFE Holdings Inc., JSW Steel Ltd., Nippon Steel Corporation, POSCO, SIJ - Slovenian Steel Group d. d., Steel Authority of India Limited, Sumitomo Corporation, Tata Steel Limited, ThyssenKrupp AG, United States Steel Corporation and Voestalpine AG.


About Us                                                                      

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Contact US

30 N Gould St, Ste R
Sheridan, WY (Wyoming) 82801 USA
Tel No:(D) +91 120 433 0800
Americas:- +1 631 791 1145 | Africa and Europe :- +44-702-409-7331 | Asia: +91-120-433-0800, +91-120-433-0800

Global Electrical Steel Market to Grow at 6.07% During 2022-2027, Impelled by Up-Gradation of Grid Network
Select Licence Type

Benefits of Customization

Personalize This Research

Triangulate with your Data

Get Data as per your Format and Definition

Gain a Deeper Dive into a Specific Application, Geography, Customer or Competitor

Any level of Personalization

Get in Touch With Us

Phone: +1-631-791-1145


Phone: +91-120-433-0800


Phone: +44-753-713-2163


Client Testimonials

Aktive Services

IMARC made the whole process easy. Everyone I spoke with via email was polite, easy to deal with, kept their promises regarding delivery timelines and were solutions focused. From my first contact, I was grateful for the professionalism shown by the whole IMARC team. I recommend IMARC to all that need timely, affordable information and advice. My experience with IMARC was excellent and I can not fault it.

Read More
Bayer AH

It was indeed a great experience to work with IMARC on the assignment on Aqua market. The team had done a fantastic job in terms of what was expected, what was assured and what was the result… the report gave us many insights and market know how which allowed us to work on our strength and define exact strategies…

Read More
Colruyt Group

We were very happy with the collaboration between IMARC and Colruyt. Not only were your prices competitive, IMARC was also pretty fast in understanding the scope and our needs for this project. Even though it was not an easy task, performing a market research during the COVID-19 pandemic, you were able to get us the necessary information we needed. The IMARC team was very easy to work with and they showed us that it would go the extra mile if we needed anything extra

Read More

Last project executed by your team was as per our expectations. We also would like to associate for more assignments this year. Kudos to your team.

Read More
Zee Media Corp. Ltd.

We would be happy to reach out to IMARC again, if we need Market Research/Consulting/Consumer Research or any associated service. Overall experience was good, and the data points were quite helpful.

Read More
Arabian Plastic Manufacturing Company Ltd.

The figures of market study were very close to our assumed figures. The presentation of the study was neat and easy to analyse. The requested details of the study were fulfilled. My overall experience with the IMARC Team was satisfactory.

Read More
Sumitomo Corporation

The overall cost of the services were within our expectations. I was happy to have good communications in a timely manner. It was a great and quick way to have the information I needed.

Read More
Hameln Rds

My questions and concerns were answered in a satisfied way. The costs of the services were within our expectations. My overall experience with the IMARC Team was very good.

Read More
Quality Consultants BV

I agree the report was timely delivered, meeting the key objectives of the engagement. We had some discussion on the contents, adjustments were made fast and accurate. The response time was minimum in each case. Very good. You have a satisfied customer.

Read More
TATA Advanced Systems Limited

We would be happy to reach out to IMARC for more market reports in the future. The response from the account sales manager was very good. I appreciate the timely follow ups and post purchase support from the team. My overall experience with IMARC was good.

Read More

IMARC was a good solution for the data points that we really needed and couldn't find elsewhere. The team was easy to work, quick to respond, and flexible to our customization requests.

Read More