Canada Electrical Steel Market Size & Outlook, 2026-2033
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- Metals, Mining & Minerals
- Electrical Steel Market Outlook
- Metals, Mining & Minerals
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Canada electrical steel market highlights
- The Canada electrical steel market generated a revenue of USD 373.2 million in 2025 and is expected to reach USD 611.9 million by 2033.
- The Canada market is expected to grow at a CAGR of 6.5% from 2026 to 2033.
- In terms of segment, non-grain oriented was the largest revenue generating product in 2025.
- 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 2025 | USD 373.2 million |
| Market revenue in 2033 | USD 611.9 million |
| Growth rate | 6.5% (CAGR from 2026 to 2033) |
| Largest segment | Non-grain oriented |
| Fastest growing segment | Grain Oriented |
| Historical data | 2021 - 2024 |
| Base year | 2025 |
| Forecast period | 2026 - 2033 |
| 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, Canada accounted for 1.2% of the global electrical steel market in 2025.
- Country-wise, China is expected to lead the global market in terms of revenue in 2033.
- In North America, U.S. electrical steel market is projected to lead the regional market in terms of revenue in 2033.
- Mexico is the fastest growing regional market in North America and is projected to reach USD 1,215.9 million by 2033.
Increasing investment in EV manufacturing and its related infrastructure is projected to drive the usage of electrical steel in Canada. The Canadian government and the province of Ontario planned to invest USD 223 million in the Ford manufacturing plant which is one of the largest EV plants in North America.
Significant growth in renewable power generation coupled with increasing investment in the expansion of transmission and distribution infrastructure are the prominent factors attributed to the growth of the market.
As per the data published by the Canadian Renewable Energy Association in January 2021, Canada is projected to install about 2 GW of solar and wind power-generating capacity in 2021.
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Electrical Steel Market Scope
Electrical Steel Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| Tata Steel Ltd GDR - 144A | View profile | 73,496 | 24 Homi Mody Street, Bombay House, Fort, Mumbai, MH, India, 400 001 | www.tatasteel.com |
| ArcelorMittal SA Depository Receipt | View profile | 126,756 | 24-26, Boulevard d’Avranches, Luxembourg, Luxembourg, L-1160 | www.arcelormittal.com |
| Cleveland-Cliffs Inc | View profile | 28,000 | 200 Public Square, Suite 3300, Cleveland, OH, United States, 44114-2315 | www.clevelandcliffs.com |
| JFE Holdings Inc | View profile | 44,469 | 2-2-3 Uchisaiwaicho, Chiyoda-ku, Tokyo, Japan, 100-0011 | www.jfe-holdings.co.jp |
| Nippon Steel Corp | View profile | 121,990 | 6-1, Marunouchi 2-chome, Chiyoda-ku, Tokyo, Japan, 100-8071 | www.nipponsteel.com |
| POSCO Holdings Inc ADR | View profile | 44,501 | POSCO Center, 440 Teheran-ro, Gangnam-gu, Seoul, Korea, Republic of, 06194 | www.posco.co.kr |
| Thyssenkrupp AG | View profile | 100,202 | ThyssenKrupp Allee 1, Essen, NW, Germany, 45143 | www.thyssenkrupp.com |
Canada 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 Outlook will help companies and investors design strategic landscapes.
Non-Grain Oriented was the largest segment with a revenue share of 70.04% in 2025.
Horizon Databook has segmented the Canada electrical steel market based on grain oriented, non-grain oriented covering the revenue growth of each sub-segment from 2021 to 2033.
Increasing investment in EV manufacturing and its related infrastructure is projected to drive the usage of electrical steel in Canada. The Canadian government and the province of Ontario planned to invest USD 223 million in the Ford manufacturing plant which is one of the largest EV plants in North America.
Significant growth in renewable power generation coupled with increasing investment in the expansion of transmission and distribution infrastructure are the prominent factors attributed to the growth of the market.
As per the data published by the Canadian Renewable Energy Association in January 2021, Canada is projected to install about 2 GW of solar and wind power-generating capacity in 2021.
- Canada Electrical Steel Market Product Outlook (Revenue, USD Million , 2021-2033)
- Grain Oriented
- Non-Grain Oriented
- Canada Electrical Steel Market Application Outlook (Revenue, USD Million , 2021-2033)
- Transformers
- Motors
- Inductors
- Other Applications
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Horizon Databook provides a detailed overview of country-level data and insights on the Canada Electrical Steel Market Outlook, including forecasts for subscribers. This country databook contains high-level insights into Canada Electrical Steel Market Outlook from 2021 to 2033, including revenue numbers, major trends, and company profiles.
Canada Electrical Steel Market, 2021-2033 (US$M)
Canada electrical steel market statistics, by product, 2021-2033 (Kilotons)
