Brazil Electrical Steel Market Size & Outlook, 2023-2030

The electrical steel market in Brazil is expected to reach a projected revenue of US$ 369.1 million by 2030. A compound annual growth rate of 5.7% is expected of Brazil electrical steel market from 2024 to 2030.
Revenue, 2023 (US$M)
$251.0
Forecast, 2030 (US$M)
$369.1
CAGR, 2024 - 2030
5.7%
Report Coverage
Brazil

Brazil electrical steel market highlights

  • The Brazil electrical steel market generated a revenue of USD 251.0 million in 2023 and is expected to reach USD 369.1 million by 2030.
  • The Brazil market is expected to grow at a CAGR of 5.7% from 2024 to 2030.
  • In terms of segment, non-grain oriented was the largest revenue generating product in 2023.
  • Grain Oriented is the most lucrative product segment registering the fastest growth during the forecast period.


Electrical steel market data book summary

Market revenue in 2023USD 251.0 million
Market revenue in 2030USD 369.1 million
Growth rate5.7% (CAGR from 2023 to 2030)
Largest segmentNon-grain oriented
Fastest growing segmentGrain Oriented
Historical data2018 - 2022
Base year2023
Forecast period2024 - 2030
Quantitative unitsRevenue in USD million
Market segmentationGrain Oriented, Non-Grain Oriented
Key market players worldwideArcelorMittal SA Depository Receipt, Cleveland-Cliffs Inc, JFE Holdings Inc, Nippon Steel Corp, POSCO Holdings Inc ADR, Tata Steel Ltd GDR - 144A, Thyssenkrupp AG


Other key industry trends

  • In terms of revenue, Brazil accounted for 0.9% of the global electrical steel market in 2023.
  • Country-wise, China is expected to lead the global market in terms of revenue in 2030.
  • In Latin America, Brazil electrical steel market is projected to lead the regional market in terms of revenue in 2030.
  • Brazil is the fastest growing regional market in Latin America and is projected to reach USD 369.1 million by 2030.

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Electrical Steel Market Scope

Electrical steel market segmentation & scope
Grain Oriented
Non-Grain Oriented
Transformers
Motors
Inductors
Other Applications

Electrical Steel Market Companies

Name Profile # Employees HQ Website

Brazil 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 72.75% in 2023. Horizon Databook has segmented the Brazil electrical steel market based on grain oriented, non-grain oriented covering the revenue growth of each sub-segment from 2018 to 2030.


Brazil being the largest country in both South America and Latin America holds potential growth opportunity for the growth of the electrical steel market. The country had planned for energy expansion despite peaking investment in micro-generation and smart grids. 

The erection of a grid and expansion of transmission line enables the use of transformers which in turn fuels the demand for electrical steel for making transformer core. For instance, in March 2021, the government had planned to add 11,131 km of transmission line to the power grid.

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  • Our clientele includes a mix of electrical steel market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of country-level data and insights on the Brazil electrical steel market , including forecasts for subscribers. This country databook contains high-level insights into Brazil electrical steel market from 2018 to 2030, including revenue numbers, major trends, and company profiles.

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Brazil electrical steel market size, by product, 2018-2030 (US$M)

Brazil Electrical Steel Market Outlook Share, 2023 & 2030 (US$M)

Brazil electrical steel market size, by product, 2018-2030 (US$M)

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