Japan Electrical Steel Market Size & Outlook, 2026-2033
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- Electrical Steel Market Outlook
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Japan electrical steel market highlights
- The Japan electrical steel market generated a revenue of USD 960.6 million in 2025 and is expected to reach USD 1,462.0 million by 2033.
- The Japan market is expected to grow at a CAGR of 5.5% 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 960.6 million |
| Market revenue in 2033 | USD 1,462.0 million |
| Growth rate | 5.5% (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, Japan accounted for 3.1% 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 Asia Pacific, China electrical steel market is projected to lead the regional market in terms of revenue in 2033.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 2,563.4 million by 2033.
Japan holds potential growth opportunity for renewable energy as it currently produces around 10% of its electricity from renewable sources. As per IEA, renewables accounted for 21.7% of Japan’s total power generation in 2020.
The country has planned to accelerate the renewables share to 27% with an investment worth USD 100 billion . Thus, the growing production of renewable energy necessitates the erection of transmission lines and the installation of substation equipment.
This is predicted to increase the consumption of electrical steel in coming years. Increase in sale of household electrical appliances such as air conditioner, washing machine, vacuum cleaner, and refrigerators have bolstered the demand for electrical steel for manufacturing the motors.
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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 |
Japan 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 73.68% in 2025.
Horizon Databook has segmented the Japan electrical steel market based on grain oriented, non-grain oriented covering the revenue growth of each sub-segment from 2021 to 2033.
Japan holds potential growth opportunity for renewable energy as it currently produces around 10% of its electricity from renewable sources. As per IEA, renewables accounted for 21.7% of Japan’s total power generation in 2020.
The country has planned to accelerate the renewables share to 27% with an investment worth USD 100 billion . Thus, the growing production of renewable energy necessitates the erection of transmission lines and the installation of substation equipment.
This is predicted to increase the consumption of electrical steel in coming years. Increase in sale of household electrical appliances such as air conditioner, washing machine, vacuum cleaner, and refrigerators have bolstered the demand for electrical steel for manufacturing the motors.
- Japan Electrical Steel Market Product Outlook (Revenue, USD Million , 2021-2033)
- Grain Oriented
- Non-Grain Oriented
- Japan 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 Japan Electrical Steel Market Outlook, including forecasts for subscribers. This country databook contains high-level insights into Japan Electrical Steel Market Outlook from 2021 to 2033, including revenue numbers, major trends, and company profiles.
Japan Electrical Steel Market, 2021-2033 (US$M)
Japan electrical steel market statistics, by product, 2021-2033 (US$M)
