Global Electrical Steel Market Growth Insights 2023: with Future Developments and Trends by 2029

The global electrical steel market size is expected to grow at more than 6.42% CAGR from 2021 to 2029. It is expected to reach above USD 49.05 billion by 2029 from a little above USD 28.02 billion in 2020.

The Global “Global Electrical Steel Market” is the topic of a comprehensive 2023 research report that researches into every aspect of the industry, from regional segments and key manufacturers to product type and applications. The report utilizes a challenging research methodology and statistical analysis techniques, including market breakdown and data triangulation, to provide consistent and accurate market evaluations and forecasts that extend all the way to 2029. Additionally, the report offers a straightforward context for assessing and evaluating the position of key manufacturers operating in this industry. Moreover, it sheds light on the competitive landscape of the global market by providing details on market share, product offerings, and active status of key market players.

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Market Overview

The pandemic had a negative impact on the electric steel market. Manufacturing facility disruptions, halts in infrastructure projects, and a drop in vehicle output during the lockdown all had a significant impact on market growth. During the shutdown, demand for power fell throughout numerous countries. Electrical steel is a ferromagnetic material that contains varying amounts of silicon. It aids in the reduction of heat dissipation and is thus employed in a variety of industries. Heat dissipation wastes energy, hence electrical steel is increasingly being used in equipment.

Global Electrical Steel Market Segmentation by Manufacturers, this report covers: ArcelorMittal, POSCO, Voelstalpine AG, Baosteel, Nippon Steel & Sumitomo Metal Corporation, United States Steel Corporation, SAIL, TATA Steel Limited, Thyssenkrupp AG, JFE Steel Corporation, and others.

Recent Developments

7th May 2021: JFE Steel Corporation signed a memorandum of understanding to conduct a feasibility study with JSW Steel Limited (JSW). This memorandum of understanding will be able to establish a grain oriented electrical steel sheet manufacturing and sales joint-venture company in India.

6th Nov 2021: Nippon Steel announced plans to invest nearly USD 1 billion to expand its electrical steel sheet facilities at two different plants located in Japan. This will be completed by year 2023 with manufacturing capacity expected to increase by approximately 40%.

The Global Electrical Steel Market report also splitting the market by region: United States, Americas, Canada, Mexico, Brazil, APAC, China, Japan, Korea, Southeast Asia, India, Australia, Europe, Germany, France, UK, Italy, Russia, Middle East and Africa.

Key Segments

Global Electrical Steel Market By Type, 2020-2029, (USD Billion), (Kilotons)



Global Electrical Steel Market By Application, 2020-2029, (USD Billion), (Kilotons)




Global Electrical Steel Market By End User, 2020-2029, (USD Billion), (Kilotons)



Household Appliances


Key Reasons to Purchase:

  • To comprehend the outlook and prospects for the market.
  • The definition, applications, and classifications in the report provide an in-depth insight of the market.
  • The study includes the SWOT analysis and business plans of each player in the industry.
  • The provides in-depth analyses of current market trends, trend forecasts, and growth factors.
  • The study offers a thorough analysis of the vendor landscape, a competitive landscape analysis, and significant market strategies.

Detailed TOC of Global Global Electrical Steel Market Growth (Status and Outlook) 2029

Table Of Contents

  1. Executive Summary
  2. Global Electrical Steel Market Characteristics
  3. Global Electrical Steel Market Trends and Strategies
  4. Global Electrical Steel Market – Macro Economic Scenario

4.1. COVID-19 Impact On Global Electrical Steel Market

4.2. Ukraine-Russia War Impact on Global Electrical Steel Market

4.3. Impact Of High Inflation On Global Electrical Steel Market

  1. Global Electrical Steel Market Size And Growth

5.1. Global Global Electrical Steel Historic Market, 2017-2022, $ Billion

5.1.1. Drivers Of The Market

5.1.2. Restraints On The Market

5.2. Global Global Electrical Steel Forecast Market, 2022-2029F, 2029F, $ Billion

5.2.1. Drivers Of The Market

5.2.2. Restraints On the Market

  1. Global Electrical Steel Market Segmentation

6.1. Global Market, Segmentation By Product, Historic and Forecast, 2017-2022, 2022-2029

6.2. Global Market, Segmentation By type, Historic and Forecast, 2017-2022, 2022-2029

6.3. Global Global Electrical Steel Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2029

6.4. Global Market, Segmentation By End User, Historic and Forecast, 2017-2022, 2022-2029F, 2029F, $ Billion

  1. Global Electrical Steel Market Regional And Country Analysis

7.1. Global Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2029

7.2. Global Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2029

  1. Global Electrical Steel Market Competitive Landscape And Company Profiles
  2. Key Mergers And Acquisitions In The Global Electrical Steel Market
  3. Market Future Outlook and Potential Analysis
  4. Appendix

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