Backed by market attractiveness analysis, total addressable market sizing, company benchmarking matrices, interactive Excel dashboards, wider supply chain intelligence, emerging startup coverage, and detailed product-level insights, The Business Research Company’s 2026 market reports are designed to offer research that is more actionable and strategically valuable than ever.
Grain Oriented Electrical Steel Market CAGR Outlook And Future Development
The grain oriented electrical steel market size has shown steady expansion in recent years. It is anticipated to increase from $7.41 billion in 2025 to $7.59 billion in 2026, achieving a compound annual growth rate (CAGR) of 2.3%. This historical growth can be attributed to factors such as increasing demand for power transformers, early adoption in HVDC transmission projects, the expansion of conventional electrical steel production, reliance on grain-oriented steel in utility applications, and increased usage in industrial generators.
The grain oriented electrical steel market is set for consistent expansion in the coming years. It is projected to achieve a size of $8.58 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 3.1%. This anticipated growth during the forecast period is driven by factors such as increasing demand for energy-efficient transformer cores, the enlargement of renewable energy transmission networks, the creation of high-performance electrical steel grades, ongoing modernization of grid infrastructure, and the rising adoption of advanced domain-refined materials. Noteworthy trends expected over the forecast period include the uptake of sustainable transformer core materials, the broadening of electrification infrastructure, progress in intelligent steel processing systems, the integration of smart grid-ready electrical steels, and the advancement of robotics-enabled steel manufacturing.
Get A Free Sample Report With In-Depth Market Insights:
Grain Oriented Electrical Steel Market Industry Drivers: What’s Behind The Revenue Growth?
The increasing industrialization is anticipated to boost the growth of the grain-oriented electrical steel (GOES) market in the future. Industrialization represents an economic and social transformation characterized by the extensive adoption of industrial production techniques. As industrialization progresses, it creates a heightened demand for electrical power and associated energy infrastructure. Industries necessitate reliable and efficient electrical systems to operate machinery, equipment, and other essential functions. For example, in September 2023, figures from the National Bureau of Statistics of China, a China-based government agency, indicated that industrial production in China advanced by 4.5% in August compared to the previous year, surpassing the 3.7% increase observed in July. Thus, the escalating industrialization is a key driver for the expansion of the grain-oriented electrical steel (GOES) market.
Grain Oriented Electrical Steel Market Segment Landscape: Which Areas Lead Development?
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
#Grain Oriented Electrical Steel Market Growth Trends: What’s Shaping The Future Outlook?
Leading companies in the grain-oriented electrical steel market are forging strategic alliances and cooperative efforts to secure their market presence. These partnerships represent collaborative arrangements between organizations aimed at achieving specific business objectives. For instance, in February 2024, JSW Steel Limited, an India-based steel company, joined forces with JFE Steel Corporation, a Japan-based steel company. Through this collaboration, their goal is to produce grain-oriented electrical steel (GOES) in India, with full-scale production anticipated to commence by 2027. This joint undertaking not only addresses immediate market demands but also strategically positions both JSW Steel and JFE Steel for future expansion in a sector increasingly emphasizing sustainability and energy efficiency.
Grain Oriented Electrical Steel Market Industry Leaders And Competitive Landscape
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.
View The Full Grain Oriented Electrical Steel Market Report:
Grain Oriented Electrical Steel Market Geographic Analysis: Where Is Demand Rising Fastest?
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.
Reach Out To Our Team:
The Business Research Company: https://www.thebusinessresearchcompany.com/
Americas: +1 310-496-7795
Asia: +44 7882 955267 & +91 8897263534
Europe: +44 7882 955267
Email us at: marketing@tbrc.info
Follow us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
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.
