전기강판 시장 기회, 성장 촉진요인, 업계 동향 분석 및 예측(2026-2035년)

The Global Electrical Steel Market was valued at USD 26.5 billion in 2025 and is estimated to grow at a CAGR of 4.6% to reach USD 42.1 billion by 2035.

Electrical steel plays a vital role in enhancing the efficiency of motors, transformers, and generators, acting as a core component of electrification and industrial systems worldwide. It not only supplies structural steel but also drives significant downstream value in sectors such as automotive, power infrastructure, and industrial automation, positioning it as a strategic material for modern economies. The market is expected to gain momentum due to the rapid adoption of electric vehicles, grid modernization projects, and industrial automation. Premium grades are expected to maintain strong pricing due to performance demands, despite raw material cost fluctuations. Asia remains the primary demand hub, supported by manufacturing centers and infrastructure expansion, while Europe and North America drive growth through electrification initiatives and energy-efficiency regulations. The market is evolving into a performance-driven ecosystem with thin-gauge and advanced-grade products gaining competitive importance, alongside a rising focus on niche electromagnetic components.

The non-grain-oriented electrical steel (NOES/CRNGO) segment held 58.4% share in 2025 and is expected to grow at a CAGR of 4.9% through 2035. NOES is ideal for rotating machinery, including motors and generators, as it offers uniform magnetic performance in all directions, making it essential for electric vehicles and industrial automation where energy efficiency and operational speed are critical.

The inorganic coatings segment accounted for a 35% share in 2025 and is expected to grow at a CAGR of 4.6% from 2026 to 2035. Inorganic coatings are highly suitable for high-temperature insulation applications, including transformer cores and heavy-duty electrical equipment, reducing interlaminar losses under extreme conditions and ensuring reliability in power transmission.

North America Electrical Steel Market accounted for a 12.4% share in 2025 and is rapidly emerging as a strategic hub due to advanced manufacturing capabilities, strong regulatory frameworks, and significant investments in electrification infrastructure. The region emphasizes energy-efficient, high-performance grades to meet increasingly stringent technical and environmental requirements.

Major players in the Global Electrical Steel Market include Nippon Steel Corporation, JFE Steel Corporation, ArcelorMittal S.A., POSCO (Pohang Iron & Steel Co.), China Baowu Steel Group, Thyssenkrupp Electrical Steel GmbH, Cleveland-Cliffs Inc. (AK Steel), Tata Steel Limited, Aperam S.A., Waelzholz Group, Ansteel Group Corporation, HBIS Group (Hebei Iron & Steel), Nucor Corporation, Metglas Inc. (Hitachi Metals Group), and Advanced Technology & Materials Co. Ltd. (AT&M). Companies in the Global Electrical Steel Market are strengthening their foothold by investing in R&D for advanced-grade and thin-gauge products, enabling higher efficiency and performance. Strategic partnerships with automotive and industrial manufacturers enhance integration into critical applications. Expanding production capacities in high-demand regions, adopting sustainable manufacturing practices, and leveraging digital technologies for process optimization improve operational efficiency.

Table of Contents

Chapter 1 Methodology & Scope

• 1.1 Market scope and definition
• 1.2 Research design
  • 1.2.1 Research approach
  • 1.2.2 Data collection methods
• 1.3 Data mining sources
  • 1.3.1 Global
  • 1.3.2 Regional/Country
• 1.4 Base estimates and calculations
  • 1.4.1 Base year calculation
  • 1.4.2 Key trends for market estimation
• 1.5 Primary research and validation
  • 1.5.1 Primary sources
• 1.6 Forecast model
• 1.7 Research assumptions and limitations

Chapter 2 Executive Summary

• 2.1 Industry 360⁰ synopsis
• 2.2 Key market trends
  • 2.2.1 Regional
  • 2.2.2 Product type
  • 2.2.3 Coating type
  • 2.2.4 Application
  • 2.2.5 End use
• 2.3 TAM Analysis, 2025-2035
• 2.4 CXO perspectives: Strategic imperatives
  • 2.4.1 Executive decision points
  • 2.4.2 Critical success factors
• 2.5 Future Outlook and Strategic Recommendations

Chapter 3 Industry Insights

• 3.1 Industry ecosystem analysis
  • 3.1.1 Supplier landscape
  • 3.1.2 Profit margin
  • 3.1.3 Value addition at each stage
  • 3.1.4 Factor affecting the value chain
  • 3.1.5 Disruptions
• 3.2 Industry impact forces
  • 3.2.1 Growth drivers
    • 3.2.1.1 Efficiency regulations lift high-grade adoption.
    • 3.2.1.2 EV proliferation boosts ultra-thin NOES demand.
    • 3.2.1.3 Grid modernization expands GOES demand.
  • 3.2.2 Industry pitfalls and challenges
    • 3.2.2.1 Raw material volatility.
    • 3.2.2.2 Thin gauge/HiB capacity constraints.
  • 3.2.3 Market opportunities
    • 3.2.3.1 Self-bonding coatings streamline assembly and improve yields.
    • 3.2.3.2 Data center UPS/transformer upgrades raise premium GOES pull.
• 3.3 Growth potential analysis
• 3.4 Regulatory landscape
  • 3.4.1 North America
  • 3.4.2 Europe
  • 3.4.3 Asia Pacific
  • 3.4.4 Latin America
  • 3.4.5 Middle East & Africa
• 3.5 Porter's analysis
• 3.6 PESTEL analysis
• 3.7 Price trends
  • 3.7.1 By region
  • 3.7.2 By product type
• 3.8 Future market trends
• 3.9 Technology and Innovation landscape
  • 3.9.1 Current technological trends
  • 3.9.2 Emerging technologies
• 3.10 Patent Landscape
• 3.11 Trade statistics (HS code) (Note: the trade statistics will be provided for key countries only)
  • 3.11.1 Major importing countries
  • 3.11.2 Major exporting countries
• 3.12 Sustainability and environmental aspects
  • 3.12.1 Sustainable practices
  • 3.12.2 Waste reduction strategies
  • 3.12.3 Energy efficiency in production
  • 3.12.4 Eco-friendly initiatives
• 3.13 Carbon footprint consideration

Chapter 4 Competitive Landscape, 2025

• 4.1 Introduction
• 4.2 Company market share analysis
  • 4.2.1 By region
    • 4.2.1.1 North America
    • 4.2.1.2 Europe
    • 4.2.1.3 Asia Pacific
    • 4.2.1.4 LATAM
    • 4.2.1.5 MEA
• 4.3 Company matrix analysis
• 4.4 Competitive analysis of major market players
• 4.5 Competitive positioning matrix
• 4.6 Key developments
  • 4.6.1 Mergers & acquisitions
  • 4.6.2 Partnerships & collaborations
  • 4.6.3 New Product Launches
  • 4.6.4 Expansion Plans

Chapter 5 Market Estimates and Forecast, By Product Type, 2022-2035 (USD Billion) (Kilo Tons)

• 5.1 Key trends
• 5.2 Non-grain-oriented electrical steel (NOES/CRNGO)
• 5.3 Grain-oriented electrical steel (GOES/CRGO)
• 5.4 Advanced soft magnetic materials
  • 5.4.1 Amorphous electrical steel
  • 5.4.2 Nanocrystalline electrical steel
  • 5.4.3 Multilayer & composite electrical steel

Chapter 6 Market Estimates and Forecast, By Coating Type, 2022-2035 (USD Billion) (Kilo Tons)

• 6.1 Key trends
• 6.2 Inorganic coatings
  • 6.2.1 C-2 / EC-2 (mill glass - magnesium silicate)
  • 6.2.2 C-4 / EC-4 (phosphate or chemical treatment)
  • 6.2.3 C-5 / EC-5 (inorganic/ceramic filled)
• 6.3 Organic coatings
  • 6.3.1 C-3 / EC-3 (organic varnish/enamel)
  • 6.3.2 C-6 / EC-6 (organic with inorganic fillers)
• 6.4 Natural oxide coatings
• 6.5 Self-bonding coatings

Chapter 7 Market Estimates and Forecast, By Application, 2022-2035 (USD Billion) (Kilo Tons)

• 7.1 Key trends
• 7.2 Rotating machinery applications
• 7.3 Transformer applications
  • 7.3.1 Power transformers
  • 7.3.2 Distribution transformers
  • 7.3.3 Specialty transformers
  • 7.3.4 Renewable energy transformers
• 7.4 Electromagnetic components
  • 7.4.1 Inductors & reactors
  • 7.4.2 Ballasts & lighting
  • 7.4.3 Wireless power transfer

Chapter 8 Market Estimates and Forecast, By End Use, 2022-2035 (USD Billion) (Kilo Tons)

• 8.1 Key trends
• 8.2 Energy & power generation
  • 8.2.1 Electric utilities
  • 8.2.2 Renewable energy
  • 8.2.3 Conventional power generation
  • 8.2.4 Energy storage systems
• 8.3 Automotive & transportation
  • 8.3.1 Electric vehicles (battery electric vehicles - BEV)
  • 8.3.2 Hybrid electric vehicles (HEV/PHEV)
  • 8.3.3 Automotive auxiliary systems
  • 8.3.4 EV charging infrastructure
  • 8.3.5 Rail & mass transit
  • 8.3.6 Aerospace
• 8.4 Industrial manufacturing
  • 8.4.1 Industrial machinery & equipment
  • 8.4.2 Robotics & automation
  • 8.4.3 Oil & gas equipment
• 8.5 Consumer appliances & electronics
  • 8.5.1 Home appliances
  • 8.5.2 Power tools
  • 8.5.3 Consumer electronics
• 8.6 Data centers & IT infrastructure
  • 8.6.1 UPS systems
  • 8.6.2 Data center transformers
  • 8.6.3 Server cooling systems
• 8.7 HVAC & building systems
  • 8.7.1 Commercial HVAC systems
  • 8.7.2 Residential HVAC
  • 8.7.3 Elevators & escalators

Chapter 9 Market Estimates and Forecast, By Region, 2022-2035 (USD Billion) (Kilo Tons)

• 9.1 Key trends
• 9.2 North America
  • 9.2.1 U.S.
  • 9.2.2 Canada
• 9.3 Europe
  • 9.3.1 Germany
  • 9.3.2 UK
  • 9.3.3 France
  • 9.3.4 Spain
  • 9.3.5 Italy
  • 9.3.6 Rest of Europe
• 9.4 Asia Pacific
  • 9.4.1 China
  • 9.4.2 India
  • 9.4.3 Japan
  • 9.4.4 Australia
  • 9.4.5 South Korea
  • 9.4.6 Rest of Asia Pacific
• 9.5 Latin America
  • 9.5.1 Brazil
  • 9.5.2 Mexico
  • 9.5.3 Argentina
  • 9.5.4 Rest of Latin America
• 9.6 Middle East and Africa
  • 9.6.1 Saudi Arabia
  • 9.6.2 South Africa
  • 9.6.3 UAE
  • 9.6.4 Rest of Middle East and Africa

Chapter 10 Company Profiles

• 10.1 Nippon Steel Corporation
• 10.2 JFE Steel Corporation
• 10.3 ArcelorMittal S.A.
• 10.4 POSCO (Pohang Iron & Steel Co.)
• 10.5 China Baowu Steel Group
• 10.6 thyssenkrupp Electrical Steel GmbH
• 10.7 Cleveland-Cliffs Inc. (AK Steel)
• 10.8 Tata Steel Limited
• 10.9 Aperam S.A.
• 10.10 Waelzholz Group
• 10.11 Ansteel Group Corporation
• 10.12 HBIS Group (Hebei Iron & Steel)
• 10.13 Nucor Corporation
• 10.14 Metglas Inc. (Hitachi Metals Group)
• 10.15 Advanced Technology & Materials Co. Ltd. (AT&M)