Non Grain Oriented Electrical Steel Market To Reach $27.69 Billion By 2030

Non Grain Oriented Electrical Steel Market Growth & Trends

The global non grain oriented electrical steel market size is anticipated to reach USD 27.69 billion by 2030 and is projected to grow at a CAGR of 4.8% during the forecast period, according to a new report by Grand View Research, Inc. NGOES, known for its superior magnetic properties, is essential for manufacturing transformers, electric motors, and other electrical equipment. As the global energy sector increasingly shifts toward renewable sources such as wind and solar power, the need for advanced electrical steel to produce transformers and other high-efficiency equipment has surged. Therefore, the rising adoption of green energy technologies is a key driver of the NGOES market’s expansion.

Electric motors in EVs require high-performance electrical steel to ensure efficient power generation and consumption. Governments worldwide are pushing for the adoption of electric vehicles through incentives and regulations aimed at reducing carbon emissions, so automakers are increasingly investing in their development. This shift in the automotive sector is spurring demand for NGOES as a core component in EV motor production, further driving the market’s growth.

As automation technologies evolve, industries require motors and drives with higher energy efficiency and reliability. Due to its excellent magnetic properties, steel is extensively used in industrial motors, a fundamental part of automation systems in manufacturing, robotics, and logistics. The growing need for automation and the demand for high-efficiency motors and transformers in various industries thus play a critical role in expanding the NGOES market.

Power grids are essential for the transmission and distribution of electricity, and transformers, which use NGOES for their core materials, are crucial for their efficient operation. As countries worldwide upgrade their power grids to meet growing energy demands and incorporate renewable energy sources, the demand for NGOES to produce high-efficiency transformers and other electrical equipment has risen sharply.

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Non Grain Oriented Electrical Steel Market Report Highlights

• Based on end use, transformers dominated the market with a volume share of over 51.0% in 2024 due to their widespread application in power distribution and electrical systems.

• Asia Pacific dominated the global non grain oriented electrical steel industry with a revenue share of over 66.0% in 2024, driven by the high demand for electrical steel in manufacturing industries and rapid industrialization.

• Key industry participants include Nucor Corporation; ArcelorMittal; POSCO; Baosteel Group Corporation, among others.

Non Grain Oriented Electrical Steel Market Segmentation

Grand View Research has segmented the global non grain oriented electrical steel market based on end use and region:

End Use Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• Transformers

• Motors

• Inductors

• Others

Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • Germany

  • France

  • Italy

  • Russia

  • Turkey

• Asia Pacific

  • China

  • India

  • Japan

  • South Korea

• Central & South America

  • Brazil

• Middle East & Africa

  • Iran

List of Key Players in the Non Grain Oriented Electrical Steel Market

• ArcelorMittal

• Arnold Magnetic Technologies

• Baosteel Group Corporation

• Cleveland-Cliffs Inc.

• JFE Steel Corporation

• NIPPON STEEL CORPORATION

• Nucor Corporation

• POSCO

• Thyssenkrupp

• VIZ-Steel