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Non-Grain Oriented Electrical Steel Market Forecast: Value Set To Climb From $16.04 Billion To $19.59 Billion
The non-grain oriented electrical steel market has seen consistent expansion in recent years. Its valuation is expected to increase from $15.31 billion in 2025 to $16.04 billion in 2026, achieving a compound annual growth rate (CAGR) of 4.7%. This historical progression can be linked to the expansion of the electrical and electronics sector, escalating demand from automotive motors, the enlargement of the power generation industry, the advancement of transformers and inductors, and its usage in domestic appliances.
The non-grain oriented electrical steel market is anticipated to experience robust expansion over the coming years. Its value is projected to reach $19.59 billion by 2030, with a compound annual growth rate (CAGR) of 5.1%. This projected growth during the forecast period is attributable to several factors, including the increasing adoption in electric vehicles, the rising need for energy-efficient motors, expansion within the aviation sector, the proliferation of renewable energy initiatives, and innovations in steel processing technology. Key trends expected over the forecast horizon encompass the development of high-permeability steel, efforts to minimize core loss in transformers, the improvement of magnetic properties for motors, its integration into energy-efficient electrical devices, and tailored customization for applications in the automotive and aviation industries.
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Non-Grain Oriented Electrical Steel Market Opportunity Drivers: What’s Unlocking New Revenue Potential?
The increasing embrace of electric vehicles (EVs) is anticipated to fuel the expansion of the non-grain-oriented electrical steel market in the future. An electric vehicle is a type of automobile that operates on an electric motor, drawing power from a battery which can be recharged externally. Non-oriented electrical steel improves the performance of the electric motor when utilized as a core material in electric vehicles; consequently, the growing uptake of electric vehicles drives up the demand for non-grain oriented electrical steel. For example, a report released by Kelley Blue Book, a US-based Cox Automotive firm, in January 2024, revealed that a record 1.2 million car purchasers in the United States opted for electric vehicles in 2023, representing 7.6% of the total U.S. vehicle market, an increase from 5.9% in 2022. Hence, the increasing embrace of electric vehicles is propelling the non-grain-oriented electrical steel market.
Non-Grain Oriented Electrical Steel Market Breakdown By Product Type And Application
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: Electric Motors, Generators & Alternators, Automotive Electrical Machines
4) By End User: Automotive Industry, Domestic Appliances, Electrical Machinery & Equipment Manufacturers
Subsegments:
1) By Fully Processed: Cold Rolled Electrical Steel, High-Grade Fully Processed NGO Electrical Steel (High-Efficiency Grades)
2) By Semi-Processed: Cold Rolled Non-Grain Oriented Steel, Anneal-After-Punching (AAP) NGO Electrical Steel
Non-Grain Oriented Electrical Steel Market Innovation Trends Shaping Future Development
Leading companies within the non-grain oriented electrical steel market are concentrating on producing lightweight non-grain-oriented electrical steel. This lightweight material enhances the efficiency of motors and electric vehicles that incorporate it. For example, in March 2023, United States Steel Corporation, a US-based integrated steel producer, unveiled a new electrical steel product named InduX. The InduX electrical steel is characterized as ultra-thin, lightweight, and extremely wide, possessing all the essential magnetic qualities needed for electric vehicles (EVs), generators, and transformers. These improved magnetic qualities contribute to increased motor efficiency and greater mileage for an electric car (EV).
Non-Grain Oriented Electrical Steel Market Key Participants And Competitive Landscape
Major companies operating in the non-grain oriented electrical steel market report are Thyssenkrupp AG, ArcelorMittal SA, Nippon Steel Corporation, POSCO (Pohang Iron and Steel Company), JFE Steel Corporation, Baosteel Group Corporation, China Baowu Steel Group Corporation Limited, Ansteel Group Corporation Limited, Shougang Group Co. Ltd., Shagang Group Co. Ltd., Tata Steel Limited, United States Steel Corporation, Voestalpine AG, Novolipetsk Steel (NLMK), Benxi Steel Group Co. Ltd., Taiyuan Iron and Steel Co. Ltd., AK Steel Corporation, Aperam S.A., Arnold Magnetic Technologies Corporation, CSC Steel Corporation, Yieh Corporation
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Non-Grain Oriented Electrical Steel Market Geographic Analysis: Where Is Demand Accelerating Fastest?
Asia Pacific was the largest region in the non-grain oriented electrical steel market in 2025. The regions covered in the non-grain oriented electrical steel market are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Wasay has over a decade of experience in market research, data modelling, and analytics, with prior experience at GlobalData and Decision Tree Consulting Services. At The Business Research Company , he leads research operations across syndicated studies, customized consulting engagements, and the Global Market Model platform. His professional experience includes supporting organizations such as Boston Consulting Group, KPMG, and Ernst & Young. Wasay holds a degree in Electronics and Communications Engineering, postgraduate management qualifications from International Management Institute Belgium and Indian School of Business and Entrepreneurship, and completed the Integrated Program in Business Analytics from Indian Institute of Management Indore.