전기강판 시장 - 세계 산업 규모, 점유율, 동향, 기회, 예측 : 유형별, 용도별, 업계별, 지역별 및 경쟁(2021-2031년)

The Global Electrical Steel Market is projected to expand from USD 25.79 Billion in 2025 to USD 36.21 Billion by 2031, reflecting a compound annual growth rate of 5.82%. Also known as silicon steel, this specialized ferromagnetic alloy is engineered to possess distinct magnetic characteristics and is primarily utilized in the cores of electric motors, transformers, and generators to reduce energy dissipation. The market is propelled by the rapid electrification of the automotive industry and the extensive updates required for power transmission grids to accommodate renewable energy integration. Highlighting the production scale necessary to satisfy this demand, the Chinese Society for Metals reported that China produced 16.1 million tonnes of electrical steel in 2024, marking a 5.4% increase year-over-year.

Nevertheless, the market faces a substantial obstacle due to the significant capital outlay and specialized technical knowledge needed to manufacture high-grade grain-oriented electrical steel. This intricate production process establishes high entry barriers and restricts the capacity of suppliers to quickly scale up, creating potential supply shortages as the global requirement for energy-efficient infrastructure grows.

Market Driver

The surging production and uptake of electric and hybrid vehicles serve as a major driver for the electrical steel sector, drastically boosting the demand for non-oriented electrical steel used in traction motors. As automakers rapidly shift away from internal combustion engines, the amount of magnetic steel required per vehicle has increased significantly to facilitate improved power density and longer driving ranges. This fundamental change guarantees a continuous demand from the automotive supply chain as original equipment manufacturers lock in long-term material resources. According to the International Energy Agency's 'Global EV Outlook 2024' released in April 2024, global sales of electric cars hit nearly 14 million units in 2023, setting a much higher standard for material usage in the industry.

Concurrently, the upgrading and extension of global power transmission networks are fueling the consumption of grain-oriented electrical steel, an essential component for high-voltage power transformer cores. Utility companies are focusing on capital-heavy infrastructure improvements to incorporate variable renewable energy sources and replace outdated equipment, thereby heightening the demand for high-efficiency magnetic alloys that maintain grid stability. The International Energy Agency's 'World Energy Investment 2024' report from June 2024 indicates that global grid investment reached USD 374 billion in 2023, illustrating the vast magnitude of these projects. This influx of investment is compelling equipment manufacturers to expand their operations quickly; for instance, Hitachi Energy announced a roughly USD 1.5 billion investment in 2024 to boost its global transformer manufacturing capabilities.

Market Challenge

The necessity for substantial capital expenditure and specialized technical know-how to manufacture high-quality electrical steel establishes formidable entry barriers that directly restrict the Global Electrical Steel Market. Producing grain-oriented electrical steel entails complex metallurgical procedures requiring exact control and distinct infrastructure, which precludes new competitors from easily entering the sector. This exclusivity curtails the pool of competent suppliers and hinders the market's capacity to swiftly adapt production levels to meet the escalating demands of the power and automotive industries.

As a result, the global market depends heavily on a small number of established manufacturing centers, leading to supply bottlenecks that hamper wider growth. This centralization of production power is apparent in recent trade statistics, where long-standing leaders dominate the supply chain while other regions encounter difficulties in scaling up. For example, the South East Asia Iron and Steel Institute reported in 2024 that China's electrical steel exports rose to approximately 1.45 million tonnes, a 16.9% jump from the prior year. This figure highlights how financial and technical obstacles obstruct the creation of a varied global supply network, leaving the market susceptible to shortages as demand rises.

Market Trends

Steel manufacturers are increasingly implementing low-carbon production techniques, including hydrogen-based reduction and electric arc furnaces, to satisfy the rigorous sustainability requirements of automotive and energy OEMs. The rise of "green" electrical steel is transforming the competitive environment as producers compete to provide materials with markedly lower carbon footprints while preserving superior magnetic capabilities. Confirming this transition, Cleveland-Cliffs Inc. announced in a March 2024 press release titled 'Cleveland-Cliffs Selected to Receive $575 Million in US Department of Energy Investments' that it was chosen for award negotiations of up to USD 575 million to decarbonize its operations, involving the substitution of natural gas-fired furnaces with electrified induction furnaces to optimize electrical steel production at its Butler Works site.

At the same time, leading producers are pursuing a strategy of regional localization by building specialized high-grade production facilities in key markets such as India and North America to alleviate supply chain risks. This trend responds to the urgent requirement for domestic supply security regarding grain-oriented grades used in grid infrastructure, thereby lessening dependence on remote manufacturing centers and ensuring durability against geopolitical interruptions. Demonstrating this growth, JSW Steel Limited announced in February 2024, in its 'JSW Steel, JFE Steel forge ₹5,500 crore JV' release, that it had established a joint venture with JFE Steel Corporation involving a planned investment of INR 5,500 crore to construct a new manufacturing hub in Karnataka, India, focused on the complete production of grain-oriented electrical steel.

Key Market Players

• Benxi Steel Group Co., Ltd
• Nucor Corporation
• Yieh Corporation
• Tata Steel UK Limited
• Arcelormittal Group
• Nippon Steel Corporation
• Arnold Magnetic Technologies
• JFE Steel Corporation

Report Scope

In this report, the Global Electrical Steel Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

Electrical Steel Market, By Type

• Grain Oriented Electrical Steel
• Non-Grain Oriented Electrical Steel

Electrical Steel Market, By Application

• Transformers
• Motors & Generators
• Inductors

Electrical Steel Market, By Vertical

• Automotive
• Construction
• Manufacturing
• Energy & Power Others

Electrical Steel Market, By Region

• North America
  • United States
  • Canada
  • Mexico
• Europe
  • France
  • United Kingdom
  • Italy
  • Germany
  • Spain
• Asia Pacific
  • China
  • India
  • Japan
  • Australia
  • South Korea
• South America
  • Brazil
  • Argentina
  • Colombia
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • UAE

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Electrical Steel Market.

Available Customizations:

Global Electrical Steel Market report with the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

• Detailed analysis and profiling of additional market players (up to five).

Table of Contents

1. Product Overview

• 1.1. Market Definition
• 1.2. Scope of the Market
  • 1.2.1. Markets Covered
  • 1.2.2. Years Considered for Study
  • 1.2.3. Key Market Segmentations

2. Research Methodology

• 2.1. Objective of the Study
• 2.2. Baseline Methodology
• 2.3. Key Industry Partners
• 2.4. Major Association and Secondary Sources
• 2.5. Forecasting Methodology
• 2.6. Data Triangulation & Validation
• 2.7. Assumptions and Limitations

3. Executive Summary

• 3.1. Overview of the Market
• 3.2. Overview of Key Market Segmentations
• 3.3. Overview of Key Market Players
• 3.4. Overview of Key Regions/Countries
• 3.5. Overview of Market Drivers, Challenges, Trends

4. Voice of Customer

5. Global Electrical Steel Market Outlook

• 5.1. Market Size & Forecast
  • 5.1.1. By Value
• 5.2. Market Share & Forecast
  • 5.2.1. By Type (Grain Oriented Electrical Steel, Non-Grain Oriented Electrical Steel)
  • 5.2.2. By Application (Transformers, Motors & Generators, Inductors)
  • 5.2.3. By Vertical (Automotive, Construction, Manufacturing, Energy & Power Others)
  • 5.2.4. By Region
  • 5.2.5. By Company (2025)
• 5.3. Market Map

6. North America Electrical Steel Market Outlook

• 6.1. Market Size & Forecast
  • 6.1.1. By Value
• 6.2. Market Share & Forecast
  • 6.2.1. By Type
  • 6.2.2. By Application
  • 6.2.3. By Vertical
  • 6.2.4. By Country
• 6.3. North America: Country Analysis
  • 6.3.1. United States Electrical Steel Market Outlook
    • 6.3.1.1. Market Size & Forecast
      • 6.3.1.1.1. By Value
    • 6.3.1.2. Market Share & Forecast
      • 6.3.1.2.1. By Type
      • 6.3.1.2.2. By Application
      • 6.3.1.2.3. By Vertical
  • 6.3.2. Canada Electrical Steel Market Outlook
    • 6.3.2.1. Market Size & Forecast
      • 6.3.2.1.1. By Value
    • 6.3.2.2. Market Share & Forecast
      • 6.3.2.2.1. By Type
      • 6.3.2.2.2. By Application
      • 6.3.2.2.3. By Vertical
  • 6.3.3. Mexico Electrical Steel Market Outlook
    • 6.3.3.1. Market Size & Forecast
      • 6.3.3.1.1. By Value
    • 6.3.3.2. Market Share & Forecast
      • 6.3.3.2.1. By Type
      • 6.3.3.2.2. By Application
      • 6.3.3.2.3. By Vertical

7. Europe Electrical Steel Market Outlook

• 7.1. Market Size & Forecast
  • 7.1.1. By Value
• 7.2. Market Share & Forecast
  • 7.2.1. By Type
  • 7.2.2. By Application
  • 7.2.3. By Vertical
  • 7.2.4. By Country
• 7.3. Europe: Country Analysis
  • 7.3.1. Germany Electrical Steel Market Outlook
    • 7.3.1.1. Market Size & Forecast
      • 7.3.1.1.1. By Value
    • 7.3.1.2. Market Share & Forecast
      • 7.3.1.2.1. By Type
      • 7.3.1.2.2. By Application
      • 7.3.1.2.3. By Vertical
  • 7.3.2. France Electrical Steel Market Outlook
    • 7.3.2.1. Market Size & Forecast
      • 7.3.2.1.1. By Value
    • 7.3.2.2. Market Share & Forecast
      • 7.3.2.2.1. By Type
      • 7.3.2.2.2. By Application
      • 7.3.2.2.3. By Vertical
  • 7.3.3. United Kingdom Electrical Steel Market Outlook
    • 7.3.3.1. Market Size & Forecast
      • 7.3.3.1.1. By Value
    • 7.3.3.2. Market Share & Forecast
      • 7.3.3.2.1. By Type
      • 7.3.3.2.2. By Application
      • 7.3.3.2.3. By Vertical
  • 7.3.4. Italy Electrical Steel Market Outlook
    • 7.3.4.1. Market Size & Forecast
      • 7.3.4.1.1. By Value
    • 7.3.4.2. Market Share & Forecast
      • 7.3.4.2.1. By Type
      • 7.3.4.2.2. By Application
      • 7.3.4.2.3. By Vertical
  • 7.3.5. Spain Electrical Steel Market Outlook
    • 7.3.5.1. Market Size & Forecast
      • 7.3.5.1.1. By Value
    • 7.3.5.2. Market Share & Forecast
      • 7.3.5.2.1. By Type
      • 7.3.5.2.2. By Application
      • 7.3.5.2.3. By Vertical

8. Asia Pacific Electrical Steel Market Outlook

• 8.1. Market Size & Forecast
  • 8.1.1. By Value
• 8.2. Market Share & Forecast
  • 8.2.1. By Type
  • 8.2.2. By Application
  • 8.2.3. By Vertical
  • 8.2.4. By Country
• 8.3. Asia Pacific: Country Analysis
  • 8.3.1. China Electrical Steel Market Outlook
    • 8.3.1.1. Market Size & Forecast
      • 8.3.1.1.1. By Value
    • 8.3.1.2. Market Share & Forecast
      • 8.3.1.2.1. By Type
      • 8.3.1.2.2. By Application
      • 8.3.1.2.3. By Vertical
  • 8.3.2. India Electrical Steel Market Outlook
    • 8.3.2.1. Market Size & Forecast
      • 8.3.2.1.1. By Value
    • 8.3.2.2. Market Share & Forecast
      • 8.3.2.2.1. By Type
      • 8.3.2.2.2. By Application
      • 8.3.2.2.3. By Vertical
  • 8.3.3. Japan Electrical Steel Market Outlook
    • 8.3.3.1. Market Size & Forecast
      • 8.3.3.1.1. By Value
    • 8.3.3.2. Market Share & Forecast
      • 8.3.3.2.1. By Type
      • 8.3.3.2.2. By Application
      • 8.3.3.2.3. By Vertical
  • 8.3.4. South Korea Electrical Steel Market Outlook
    • 8.3.4.1. Market Size & Forecast
      • 8.3.4.1.1. By Value
    • 8.3.4.2. Market Share & Forecast
      • 8.3.4.2.1. By Type
      • 8.3.4.2.2. By Application
      • 8.3.4.2.3. By Vertical
  • 8.3.5. Australia Electrical Steel Market Outlook
    • 8.3.5.1. Market Size & Forecast
      • 8.3.5.1.1. By Value
    • 8.3.5.2. Market Share & Forecast
      • 8.3.5.2.1. By Type
      • 8.3.5.2.2. By Application
      • 8.3.5.2.3. By Vertical

9. Middle East & Africa Electrical Steel Market Outlook

• 9.1. Market Size & Forecast
  • 9.1.1. By Value
• 9.2. Market Share & Forecast
  • 9.2.1. By Type
  • 9.2.2. By Application
  • 9.2.3. By Vertical
  • 9.2.4. By Country
• 9.3. Middle East & Africa: Country Analysis
  • 9.3.1. Saudi Arabia Electrical Steel Market Outlook
    • 9.3.1.1. Market Size & Forecast
      • 9.3.1.1.1. By Value
    • 9.3.1.2. Market Share & Forecast
      • 9.3.1.2.1. By Type
      • 9.3.1.2.2. By Application
      • 9.3.1.2.3. By Vertical
  • 9.3.2. UAE Electrical Steel Market Outlook
    • 9.3.2.1. Market Size & Forecast
      • 9.3.2.1.1. By Value
    • 9.3.2.2. Market Share & Forecast
      • 9.3.2.2.1. By Type
      • 9.3.2.2.2. By Application
      • 9.3.2.2.3. By Vertical
  • 9.3.3. South Africa Electrical Steel Market Outlook
    • 9.3.3.1. Market Size & Forecast
      • 9.3.3.1.1. By Value
    • 9.3.3.2. Market Share & Forecast
      • 9.3.3.2.1. By Type
      • 9.3.3.2.2. By Application
      • 9.3.3.2.3. By Vertical

10. South America Electrical Steel Market Outlook

• 10.1. Market Size & Forecast
  • 10.1.1. By Value
• 10.2. Market Share & Forecast
  • 10.2.1. By Type
  • 10.2.2. By Application
  • 10.2.3. By Vertical
  • 10.2.4. By Country
• 10.3. South America: Country Analysis
  • 10.3.1. Brazil Electrical Steel Market Outlook
    • 10.3.1.1. Market Size & Forecast
      • 10.3.1.1.1. By Value
    • 10.3.1.2. Market Share & Forecast
      • 10.3.1.2.1. By Type
      • 10.3.1.2.2. By Application
      • 10.3.1.2.3. By Vertical
  • 10.3.2. Colombia Electrical Steel Market Outlook
    • 10.3.2.1. Market Size & Forecast
      • 10.3.2.1.1. By Value
    • 10.3.2.2. Market Share & Forecast
      • 10.3.2.2.1. By Type
      • 10.3.2.2.2. By Application
      • 10.3.2.2.3. By Vertical
  • 10.3.3. Argentina Electrical Steel Market Outlook
    • 10.3.3.1. Market Size & Forecast
      • 10.3.3.1.1. By Value
    • 10.3.3.2. Market Share & Forecast
      • 10.3.3.2.1. By Type
      • 10.3.3.2.2. By Application
      • 10.3.3.2.3. By Vertical

11. Market Dynamics

• 11.1. Drivers
• 11.2. Challenges

12. Market Trends & Developments

• 12.1. Merger & Acquisition (If Any)
• 12.2. Product Launches (If Any)
• 12.3. Recent Developments

13. Global Electrical Steel Market: SWOT Analysis

14. Porter's Five Forces Analysis

• 14.1. Competition in the Industry
• 14.2. Potential of New Entrants
• 14.3. Power of Suppliers
• 14.4. Power of Customers
• 14.5. Threat of Substitute Products

15. Competitive Landscape

• 15.1. Benxi Steel Group Co., Ltd
  • 15.1.1. Business Overview
  • 15.1.2. Products & Services
  • 15.1.3. Recent Developments
  • 15.1.4. Key Personnel
  • 15.1.5. SWOT Analysis
• 15.2. Nucor Corporation
• 15.3. Yieh Corporation
• 15.4. Tata Steel UK Limited
• 15.5. Arcelormittal Group
• 15.6. Nippon Steel Corporation
• 15.7. Arnold Magnetic Technologies
• 15.8. JFE Steel Corporation

16. Strategic Recommendations

17. About Us & Disclaimer