U.S. Electrical Steel Market Size & Outlook, 2023-2030
U.S. electrical steel market, 2018-2030 (US$M)
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U.S. electrical steel market highlights
- The U.S. electrical steel market generated a revenue of USD 2,636.4 million in 2023 and is expected to reach USD 3,696.8 million by 2030.
- The U.S. market is expected to grow at a CAGR of 4.9% 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 2023 | USD 2,636.4 million |
| Market revenue in 2030 | USD 3,696.8 million |
| Growth rate | 4.9% (CAGR from 2023 to 2030) |
| Largest segment | Non-grain oriented |
| Fastest growing segment | Grain Oriented |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Grain Oriented, Non-Grain Oriented |
| Key market players worldwide | ArcelorMittal 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, U.S. accounted for 9.2% 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 North America, U.S. electrical steel market is projected to lead the regional market in terms of revenue in 2030.
- Mexico is the fastest growing regional market in North America and is projected to reach USD 974.1 million by 2030.
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Electrical Steel Market Scope
Electrical Steel Market Companies
| Name | Profile | # Employees | HQ | Website |
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U.S. 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 71.56% in 2023. Horizon Databook has segmented the U.S. electrical steel market based on grain oriented, non-grain oriented covering the revenue growth of each sub-segment from 2018 to 2030.
In 2020, the U.S. dominated the North America electrical steel market with a volume share of 69.2%. The growing demand for electrical energy requires huge investments in power generation and power equipment.
Electric motors, generators, and transformers are the prominent equipment used in power generation, which are key applications of electrical steel. Thus, an increase in power demand anticipates the use of electrical steel for manufacturing generators and motors propelling market growth.
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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 U.S. electrical steel market , including forecasts for subscribers. This country databook contains high-level insights into U.S. electrical steel market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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U.S. electrical steel market size, by product, 2018-2030 (US$M)
U.S. Electrical Steel Market Outlook Share, 2023 & 2030 (US$M)
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