Global Electrical Steel Market Size & Outlook, 2026-2033
Global electrical steel market, 2021-2033 (US$M)
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Global electrical steel market highlights
- The global electrical steel market generated a revenue of USD 30,995.9 million in 2025 and is expected to reach USD 46,974.8 million by 2033.
- The market is expected to grow at a CAGR (2026 - 2033) of 5.5% by 2033.
- In terms of segment, non-grain oriented accounted for a revenue of USD 22,889.9 million in 2025.
- Grain Oriented is the most lucrative product segment registering the fastest growth during the forecast period.
- In terms of region, Asia Pacific was the largest revenue generating market in 2025.
- Country-wise, Turkey is expected to register the highest CAGR from 2026 to 2033.
Global data book summary
| Market revenue in 2025 | USD 30,995.9 million |
| Market revenue in 2033 | USD 46,974.8 million |
| Growth rate | 5.5% (CAGR from 2026 to 2033) |
| Largest segment | Non-grain oriented |
| Fastest growing segment | Grain Oriented |
| Historical data covered | 2021 - 2024 |
| Base year for estimation | 2025 |
| Forecast period covered | 2026 - 2033 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Grain Oriented, Non-Grain Oriented |
Other key industry trends
- In terms of revenue, the North America accounted for 12.7% of the global electrical steel market in 2025.
- By country, the China is projected to lead the global market in terms of revenue in 2033.
- By country, Turkey is the fastest growing regional market and is projected to reach USD 1,207.9 million by 2033.
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Electrical Steel Market Scope
Electrical Steel Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| Thyssenkrupp AG | View profile | 100202 | ThyssenKrupp Allee 1, Essen, NW, Germany, 45143 | https://www.thyssenkrupp.com |
| POSCO Holdings Inc ADR | View profile | 44501 | POSCO Center, 440 Teheran-ro, Gangnam-gu, Seoul, Korea, Republic of, 06194 | https://www.posco.co.kr |
| Nippon Steel Corp | View profile | 121990 | 6-1, Marunouchi 2-chome, Chiyoda-ku, Tokyo, Japan, 100-8071 | https://www.nipponsteel.com |
| JFE Holdings Inc | View profile | 44469 | 2-2-3 Uchisaiwaicho, Chiyoda-ku, Tokyo, Japan, 100-0011 | http://www.jfe-holdings.co.jp |
| Cleveland-Cliffs Inc | View profile | 28000 | 200 Public Square, Suite 3300, Cleveland, OH, United States, 44114-2315 | https://www.clevelandcliffs.com |
| ArcelorMittal SA Depository Receipt | View profile | 126756 | 24-26, Boulevard d’Avranches, Luxembourg, Luxembourg, L-1160 | http://www.arcelormittal.com |
| Tata Steel Ltd GDR - 144A | View profile | 73496 | 24 Homi Mody Street, Bombay House, Fort, Mumbai, MH, India, 400 001 | https://www.tatasteel.com |
Global electrical steel market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to electrical steel market will help companies and investors design strategic landscapes.
Non-grain oriented was the largest segment with a revenue share of 73.85% in 2025. Horizon Databook has segmented the Global electrical steel market based on grain oriented, non-grain oriented covering the revenue growth of each sub-segment from 2021 to 2033.
- Global Electrical Steel Product Outlook (Revenue, USD Million, 2021-2033)
- Grain Oriented
- Non-Grain Oriented
- Global Electrical Steel Application Outlook (Revenue, USD Million, 2021-2033)
- Transformers
- Motors
- Inductors
- Other Applications
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Target buyers of Global electrical steel market databook
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Horizon Databook provides a detailed overview of global-level data and insights on the Global electrical steel market , including forecasts for subscribers. This global databook contains high-level insights into Global electrical steel market from 2021 to 2033, including revenue numbers, major trends, and company profiles.
Partial client list
Global electrical steel market size, by regions, 2021-2033 (US$M)
Top 10 countries: Electrical steel market size, 2025 (US$M)
Global electrical steel market share, by product, 2025 & 2033 (%, US$M)
Electrical steel market: Opportunity assessment by country
Global electrical steel market, by region, 2025 (US$M)
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