With a focus on actionable insights and strategic value, The Business Research Company’s 2026 market reports include market attractiveness scoring, total addressable market sizing, company benchmarking matrices, interactive Excel dashboards, deeper supply chain intelligence, emerging startup tracking, and granular product-level insights.
Grain Oriented Electrical Steel Market Size Snapshot: 2026 Valuation, 2030 Projection And Key Growth Factors
The grain oriented electrical steel market has experienced consistent expansion over recent years. This market is projected to expand from $7.41 billion in 2025 to $7.59 billion in 2026, demonstrating a compound annual growth rate (CAGR) of 2.3%. Historically, this growth has been driven by factors such as the increasing demand for power transformers, the early uptake in HVDC transmission projects, the broadening of conventional electrical steel production, the dependence on grain-oriented steel in utility applications, and the heightened deployment in industrial generators.
The grain oriented electrical steel market is projected to experience consistent expansion over the upcoming years. This market is set to reach a valuation of $8.58 billion by 2030, demonstrating a compound annual growth rate (CAGR) of 3.1%. Factors contributing to this anticipated growth include an increasing need for energy-efficient transformer cores, the broadening of renewable energy transmission networks, advancements in high-performance electrical steel grades, upgrades to grid infrastructure, and the growing use of advanced domain-refined materials. Key developments expected during this period involve the embrace of sustainable transformer core materials, the expansion of electrification infrastructure, improvements in intelligent steel processing systems, the integration of smart grid-compatible electrical steels, and the evolution of robotics-driven steel manufacturing.
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Major Factor Fueling The Grain Oriented Electrical Steel Market Through 2030
The grain-oriented electrical steel (GOES) market is expected to grow due to increasing industrialization. Industrialization signifies an economic and social transformation characterized by the widespread adoption of industrial production methods. As industrialization advances, there is a higher requirement for electrical power and energy infrastructure, given that industries need efficient and reliable electrical systems to operate machinery, equipment, and other processes. For example, in September 2023, the National Bureau of Statistics of China, a China-based government agency, reported that industrial production in China increased by 4.5% in August year-on-year, an uptick from the 3.7% rise in July. Thus, increasing industrialization is a significant driver for the growth of the grain-oriented electrical steel (GOES) market.
Grain Oriented Electrical Steel Market Segment Landscape: Main Categories And Subcategories Covered
The grain oriented electrical steel market covered in this report is segmented –
1) By Type: High Magnetic Strength, Conventional, Domain Refinement
2) By Application: Transformer, Power Generator, Motor, Other Applications
3) By End-User: Electrical Steel For Automobiles, Electrical Steel For Manufacturing, Electrical Steel For Energy Generation, Electrical Steel For Household Appliances, Electrical Steel For Other End Uses
Subsegments:
1) By High Magnetic Strength: High Performance Grades, Ultra-Low Loss Grades, High Efficiency Grades
2) By Conventional: Standard Grades, Basic Grades For Transformer Applications, General Purpose Grades
3) By Domain Refinement: Thin Gauge Grades, High-Performance Domain Refined Grades, Grades For High-Frequency Applications
How Are Emerging Trends Influencing The Grain Oriented Electrical Steel Market’s Growth Path?
Major companies operating in the grain-oriented electrical steel market are establishing strategic partnerships and collaborations to sustain their competitive edge. Strategic partnerships represent cooperative arrangements formed by two or more organizations to achieve particular business goals or objectives. For instance, in February 2024, JSW Steel Limited, an India-based steel company, collaborated with JFE Steel Corporation, a Japan-based steel company. Through this partnership, they intend to manufacture grain-oriented electrical steel (GOES) in India, with full production expected to commence by 2027. This joint venture not only meets immediate market requirements but also strategically positions both JSW Steel and JFE Steel for future expansion within a sector increasingly focused on sustainability and energy efficiency.
Grain Oriented Electrical Steel Market Leading Players And Key Industry Participants In 2026
Major companies operating in the grain oriented electrical steel market are Thyssenkrupp AG, POSCO International Corporation, Nippon Steel Corporation, JFE Steel Corporation, NLMK Group, Baowu Group, AK Steel Holdings Corporation, Tata Steel Limited, ArcelorMittal, Shougang Group Co Ltd., Cleveland-Cliffs Inc., Aperam SA, TC Metal Co, Mapes & Sprowl Steel LLC, Tempel Steel, China Baowu Steel Group Corp Ltd., Gerdau S.A., Allegheny Technologies Incorporated, United States Steel Corporation, Voestalpine Group, CSC Steel Sdn. Bhd., Kobe Steel Ltd., Sumitomo Metal Industries Ltd., Baosteel Group Corporation, Jindal Steel and Power Limited, JSW Steel Ltd., Essar Steel, Cogent Power Limited, Ansteel Group Corporation Limited, Baoshan Iron & Steel Co. Ltd., Benxi Iron and Steel Group Co. Ltd., Hebei Iron and Steel Group Co. Ltd., Hunan Valin Steel Co. Ltd., Jiangsu Shagang Group Co. Ltd., Maanshan Iron & Steel Company Limited, Shandong Iron and Steel Group Co. Ltd., Tata Iron and Steel Company Limited, World Industrial Specialty Company Inc, Wuhan Iron and Steel (Group) Corp.
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Grain Oriented Electrical Steel Market By Geography: Revenue Leaders Among Global Regions
Asia-Pacific was the largest region in the global grain-oriented electrical steel market in 2025. The regions covered in the grain oriented electrical steel market report 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.
