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report thumbnailGrain Oriented Electrical Steel Market

Grain Oriented Electrical Steel Market Insightful Analysis: Trends, Competitor Dynamics, and Opportunities 2025-2033

Grain Oriented Electrical Steel Market by Product Type (Conventional, High Magnetic Strength Sheets, Domain Refinement), by Thickness (0.2 mm, Below, 0.23 mm, 0.27 mm, 0.30 mm, 0.35 mm, Above), by Application (Transformer, Power Generator, Electric Motor, Others), by By Geography (North America) Forecast 2026-2034

Oct 29 2025

Base Year: 2025

180 Pages

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Grain Oriented Electrical Steel Market Insightful Analysis: Trends, Competitor Dynamics, and Opportunities 2025-2033

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Grain Oriented Electrical Steel Market Insightful Analysis: Trends, Competitor Dynamics, and Opportunities 2025-2033


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Key Insights

The Grain Oriented Electrical Steel Marketsize was valued at USD 11.78 USD Billion in 2023 and is projected to reach USD 42.70 USD Billion by 2032, exhibiting a CAGR of 20.2 % during the forecast period. Grain Oriented Electrical Steel (GOES) is a variety of electrical steel having improved magnetic characteristics along the direction of rolling. it has been designed to possess low core loss and high magnetic permeability and is mainly applied in transformers and large electrical machines. GOES is available in two primary types: giving rise to two different types of grain-oriented electrical steels, namely, the conventional grain-oriented (CGO) and the high permeability grain-oriented (HGO). CGO presents more adequate performance than HGO, but the latter offers gross magnetic features mainly in high-efficiency transformers. Some of the features are the grain structure of GOES that offers less energy loss during magnetization and demagnetization, and high silicon content which increases the electrical resistivity of the steel. Its uses are largely confined to power transformers, distribution transformers, and reactors required for energy transmission.

Grain Oriented Electrical Steel Market Research Report - Market Overview and Key Insights

Grain Oriented Electrical Steel Market Market Size (In Million)

75.0M
60.0M
45.0M
30.0M
15.0M
0
55.03 M
2022
57.54 M
2023
60.02 M
2024
62.41 M
2025
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Grain Oriented Electrical Steel Trends

  • Increasing demand for energy-efficient appliances and electric vehicles is driving the growth of the grain oriented electrical steel market.
  • Government regulations promoting the adoption of energy-efficient technologies are also contributing to the market growth.
  • The development of new technologies, such as amorphous and nanocrystalline materials, is expected to further boost the market growth.
Grain Oriented Electrical Steel Market Market Size and Forecast (2024-2030)

Grain Oriented Electrical Steel Market Company Market Share

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Driving Forces: What's Propelling the Grain Oriented Electrical Steel Market

  • Rising demand for energy-efficient appliances: Grain oriented electrical steel is a crucial component in energy-efficient appliances like refrigerators, air conditioners, and washing machines. The surging demand for these appliances is propelling the market's growth.
  • Booming electric vehicle industry: Electric vehicles are gaining immense popularity due to their environmental advantages. Grain oriented electrical steel is utilized in electric motors, a key component of these vehicles. The burgeoning electric vehicle industry is driving the market's growth.
  • Government regulations and incentives: Governments worldwide are implementing regulations and offering incentives to encourage the adoption of energy-efficient technologies. These initiatives are stimulating the demand for grain oriented electrical steel.
  • Growing demand for renewable energy sources: The increasing integration of renewable energy sources, such as wind and solar, into the grid is driving the demand for highly efficient transformer cores. Grain oriented electrical steel is used in these transformers, leading to market expansion.
  • Infrastructure development and modernization: As developing countries invest in infrastructure and modernize electrical grids, the demand for grain oriented electrical steel for transformers and distribution networks is expected to surge.

Challenges and Restraints in Grain Oriented Electrical Steel Market

  • High production costs and complex manufacturing processes: The intricate manufacturing process, requiring precise control over grain orientation and composition, contributes to the significant production costs of grain-oriented electrical steel (GOES). This cost factor can pose a barrier to entry and expansion, particularly for manufacturers in emerging economies or those with limited capital investment capabilities.
  • Intensifying competition from advanced soft magnetic materials: While GOES remains a benchmark, it faces growing competition from alternative soft magnetic materials like amorphous and nanocrystalline alloys. These materials offer comparable or even superior magnetic properties, such as lower core losses, and are increasingly being explored for applications traditionally dominated by GOES, potentially impacting market share.
  • Price volatility of key raw materials and supply chain disruptions: The production of GOES is reliant on critical raw materials like silicon, iron, and alloying elements. Fluctuations in the global prices of these commodities, coupled with potential supply chain vulnerabilities stemming from geopolitical events, trade policies, or natural disasters, can significantly impact manufacturing costs and profitability, making long-term cost planning a considerable challenge.
  • Stringent quality control and technical expertise requirements: Achieving the desired magnetic performance of GOES demands rigorous quality control at every stage of production and specialized technical expertise. Maintaining these high standards requires continuous investment in advanced manufacturing technologies and skilled personnel, which can be a significant operational burden.

Emerging Trends in Grain Oriented Electrical Steel

  • Development of new technologies: New technologies, such as amorphous and nanocrystalline materials, are being developed to improve the performance of grain oriented electrical steel. These materials offer higher magnetic permeability and lower losses than traditional grain oriented electrical steel.
  • Increasing use of grain oriented electrical steel in electric vehicles: The growing popularity of electric vehicles is driving the demand for grain oriented electrical steel. Grain oriented electrical steel is used in electric motors, which are a key component of electric vehicles.
  • Government regulations: Governments around the world are implementing regulations to promote the adoption of energy-efficient technologies. These regulations are driving the demand for grain oriented electrical steel.

Growth Catalysts in Grain Oriented Electrical Steel Industry

  • Accelerating global energy transition and demand for efficient power infrastructure: The worldwide push towards renewable energy sources, coupled with the aging of existing power grids, is driving substantial investment in more efficient and robust electrical infrastructure. Grain-oriented electrical steel is a fundamental component in transformers, which are critical for efficient power transmission and distribution, thus fueling its demand.
  • Exponential growth in the electric vehicle (EV) market and demand for advanced motor technology: The rapid adoption of electric vehicles across the globe, driven by environmental concerns, government mandates, and technological advancements, has created a surge in demand for high-performance electric motors. GOES, with its superior magnetic properties, is indispensable for the efficient and compact design of EV motors, making it a key enabler of this transformative industry.
  • Favorable government policies, energy efficiency standards, and smart grid initiatives: Governments worldwide are increasingly implementing stringent energy efficiency standards for electrical appliances and industrial equipment, alongside initiatives promoting smart grid development. These policies directly translate into a higher demand for GOES in the manufacturing of energy-saving transformers, motors, and other electrical components.
  • Continuous innovation in material science leading to enhanced GOES grades: Ongoing research and development efforts are yielding advanced grades of grain-oriented electrical steel with optimized microstructures and compositions. These innovations result in improved magnetic characteristics, such as reduced core losses, higher permeability, and better thermal stability, making GOES more attractive for high-performance applications and driving its market penetration.
  • Growing urbanization and industrialization in emerging economies: Rapid urbanization and industrial development in emerging economies are leading to increased demand for electricity and the expansion of power generation and distribution networks. This, in turn, necessitates a greater deployment of transformers and other electrical equipment, thereby bolstering the demand for grain-oriented electrical steel.

Market Segmentation: Grain-Oriented Electrical Steel Analysis

By Product Type:

  • Conventional
  • High Magnetic Strength Sheets
  • Domain Refinement

By Thickness:

  • 0.2 mm and Below
  • 0.23 mm
  • 0.27 mm
  • 0.30 mm
  • 0.35 mm and Above

By Application:

  • Transformer
  • Power Generator
  • Electric Motor
  • Others

Leading Players in the Grain-Oriented Electrical Steel Market

  • ArcelorMittal (Luxembourg)
  • POSCO (South Korea)
  • Baosteel Group Corporation (China)
  • Nippon Steel Corporation (Japan)
  • JFE Steel Corporation (Japan)
  • ThyssenKrupp Steel (Germany)
  • Cleveland-Cliffs Inc. (U.S.)
  • Arnold Magnetic Technologies (U.S.)
  • VIZ-Steel (U.S.)

Significant Developments in Grain Grain-Oriented Electrical Steel Sector

  • March 2022: ArcelorMittal announced an investment of more than USD 295 million to set up a new production unit for electrical steels at the Mardyck manufacturing site in North France. The new industrial unit will have a 200-kiloton production capacity and strengthen the French electro-mobility sector.
  • March 2021: JFE Steel Corporation signed a MoU to conduct a viability study with JSW Steel Limited to launch a grain-oriented electrical steel sheet-producing and sales joint-venture company in India. The company planned to complete the feasibility study by 2021 and take appropriate steps to set up a joint venture company.

Regional Insight

  • Asia-Pacific: Boasting a dominant market share, the Asia-Pacific region is driven by the growing demand for energy-efficient appliances and electric vehicles in emerging economies like China and India.
  • Europe: A mature market, Europe maintains a sizable presence due to stringent energy efficiency regulations and the presence of major manufacturers.
  • North America: With a strong focus on energy conservation, North America is witnessing steady growth in the demand for grain oriented electrical steel.
  • South America: The growing adoption of energy-efficient appliances is fueling demand in South America, particularly in Brazil and Argentina.
  • Middle East & Africa: Despite being a smaller market, the Middle East and Africa are experiencing growth due to infrastructure development and the increasing use of air conditioners in hot climates.
Grain Oriented Electrical Steel Market Market Share by Region - Global Geographic Distribution

Grain Oriented Electrical Steel Market Regional Market Share

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Consumer Side Analysis

  • Consumer behavior
  • Consumer preferences
  • Consumer segmentation

Demand Side Analysis

  • Demand drivers
  • Demand constraints
  • Demand forecast

Import And Export Analysis

  • Import data
  • Export data
  • Trade balance

Pricing Strategies

  • Pricing models
  • Pricing strategies
  • Price trends

Segmentation

  • Geographic segmentation
  • Demographic segmentation
  • Psychographic segmentation
  • Behavioral segmentation

Geographic Coverage of Grain Oriented Electrical Steel Market

Higher Coverage
Lower Coverage
No Coverage

Grain Oriented Electrical Steel Market REPORT HIGHLIGHTS

AspectsDetails
Study Period 2020-2034
Base Year 2025
Estimated Year 2026
Forecast Period2026-2034
Historical Period2020-2025
Growth RateCAGR of 20.2% from 2020-2034
Segmentation
    • By Product Type
      • Conventional
      • High Magnetic Strength Sheets
      • Domain Refinement
    • By Thickness
      • 0.2 mm
      • Below
      • 0.23 mm
      • 0.27 mm
      • 0.30 mm
      • 0.35 mm
      • Above
    • By Application
      • Transformer
      • Power Generator
      • Electric Motor
      • Others
  • By Geography
    • By Geography
      • North America

Table of Contents

  1. 1. Introduction
    • 1.1. Research Scope
    • 1.2. Market Segmentation
    • 1.3. Research Methodology
    • 1.4. Definitions and Assumptions
  2. 2. Executive Summary
    • 2.1. Introduction
  3. 3. Market Dynamics
    • 3.1. Introduction
      • 3.2. Market Drivers
        • 3.2.1. Increasing Demand for Eco-Friendly Plastics from Packaging Industry to Propel Market Growth
      • 3.3. Market Restrains
        • 3.3.1. Fluctuations in Prices of Steel to Restrain Market Growth
      • 3.4. Market Trends
        • 3.4.1. Rising Emphasis on Environmentally Sustainable Iron Production to Create New Growth Opportunities
  4. 4. Market Factor Analysis
    • 4.1. Porters Five Forces
    • 4.2. Supply/Value Chain
    • 4.3. PESTEL analysis
    • 4.4. Market Entropy
    • 4.5. Patent/Trademark Analysis
  5. 5. Global Grain Oriented Electrical Steel Market Analysis, Insights and Forecast, 2020-2032
    • 5.1. Market Analysis, Insights and Forecast - by Product Type
      • 5.1.1. Conventional
      • 5.1.2. High Magnetic Strength Sheets
      • 5.1.3. Domain Refinement
    • 5.2. Market Analysis, Insights and Forecast - by Thickness
      • 5.2.1. 0.2 mm
      • 5.2.2. Below
      • 5.2.3. 0.23 mm
      • 5.2.4. 0.27 mm
      • 5.2.5. 0.30 mm
      • 5.2.6. 0.35 mm
      • 5.2.7. Above
    • 5.3. Market Analysis, Insights and Forecast - by Application
      • 5.3.1. Transformer
      • 5.3.2. Power Generator
      • 5.3.3. Electric Motor
      • 5.3.4. Others
    • 5.4. Market Analysis, Insights and Forecast - by Region
      • 5.4.1. By Geography
  6. 6. Competitive Analysis
    • 6.1. Global Market Share Analysis 2025
      • 6.2. Company Profiles
        • 6.2.1 ArcelorMittal (Luxembourg)
          • 6.2.1.1. Overview
          • 6.2.1.2. Products
          • 6.2.1.3. SWOT Analysis
          • 6.2.1.4. Recent Developments
          • 6.2.1.5. Financials (Based on Availability)
        • 6.2.2 POSCO (South Korea)
          • 6.2.2.1. Overview
          • 6.2.2.2. Products
          • 6.2.2.3. SWOT Analysis
          • 6.2.2.4. Recent Developments
          • 6.2.2.5. Financials (Based on Availability)
        • 6.2.3 Baosteel Group Corporation (China)
          • 6.2.3.1. Overview
          • 6.2.3.2. Products
          • 6.2.3.3. SWOT Analysis
          • 6.2.3.4. Recent Developments
          • 6.2.3.5. Financials (Based on Availability)
        • 6.2.4 Nippon Steel Corporation (Japan)
          • 6.2.4.1. Overview
          • 6.2.4.2. Products
          • 6.2.4.3. SWOT Analysis
          • 6.2.4.4. Recent Developments
          • 6.2.4.5. Financials (Based on Availability)
        • 6.2.5 JFE Steel Corporation (Japan)
          • 6.2.5.1. Overview
          • 6.2.5.2. Products
          • 6.2.5.3. SWOT Analysis
          • 6.2.5.4. Recent Developments
          • 6.2.5.5. Financials (Based on Availability)
        • 6.2.6 ThyssenKrupp Steel (Germany)
          • 6.2.6.1. Overview
          • 6.2.6.2. Products
          • 6.2.6.3. SWOT Analysis
          • 6.2.6.4. Recent Developments
          • 6.2.6.5. Financials (Based on Availability)
        • 6.2.7 Cleveland-Cliffs Inc. (U.S.)
          • 6.2.7.1. Overview
          • 6.2.7.2. Products
          • 6.2.7.3. SWOT Analysis
          • 6.2.7.4. Recent Developments
          • 6.2.7.5. Financials (Based on Availability)
        • 6.2.8 Arnold Magnetic Technologies (U.S.)
          • 6.2.8.1. Overview
          • 6.2.8.2. Products
          • 6.2.8.3. SWOT Analysis
          • 6.2.8.4. Recent Developments
          • 6.2.8.5. Financials (Based on Availability)
        • 6.2.9 VIZ-Steel (U.S.)
          • 6.2.9.1. Overview
          • 6.2.9.2. Products
          • 6.2.9.3. SWOT Analysis
          • 6.2.9.4. Recent Developments
          • 6.2.9.5. Financials (Based on Availability)

List of Figures

  1. Figure 1: Global Grain Oriented Electrical Steel Market Revenue Breakdown (USD Billion, %) by Region 2025 & 2033
  2. Figure 2: Global Grain Oriented Electrical Steel Market Volume Breakdown (K Tons , %) by Region 2025 & 2033
  3. Figure 3: By Geography Grain Oriented Electrical Steel Market Revenue (USD Billion), by Product Type 2025 & 2033
  4. Figure 4: By Geography Grain Oriented Electrical Steel Market Volume (K Tons ), by Product Type 2025 & 2033
  5. Figure 5: By Geography Grain Oriented Electrical Steel Market Revenue Share (%), by Product Type 2025 & 2033
  6. Figure 6: By Geography Grain Oriented Electrical Steel Market Volume Share (%), by Product Type 2025 & 2033
  7. Figure 7: By Geography Grain Oriented Electrical Steel Market Revenue (USD Billion), by Thickness 2025 & 2033
  8. Figure 8: By Geography Grain Oriented Electrical Steel Market Volume (K Tons ), by Thickness 2025 & 2033
  9. Figure 9: By Geography Grain Oriented Electrical Steel Market Revenue Share (%), by Thickness 2025 & 2033
  10. Figure 10: By Geography Grain Oriented Electrical Steel Market Volume Share (%), by Thickness 2025 & 2033
  11. Figure 11: By Geography Grain Oriented Electrical Steel Market Revenue (USD Billion), by Application 2025 & 2033
  12. Figure 12: By Geography Grain Oriented Electrical Steel Market Volume (K Tons ), by Application 2025 & 2033
  13. Figure 13: By Geography Grain Oriented Electrical Steel Market Revenue Share (%), by Application 2025 & 2033
  14. Figure 14: By Geography Grain Oriented Electrical Steel Market Volume Share (%), by Application 2025 & 2033
  15. Figure 15: By Geography Grain Oriented Electrical Steel Market Revenue (USD Billion), by Country 2025 & 2033
  16. Figure 16: By Geography Grain Oriented Electrical Steel Market Volume (K Tons ), by Country 2025 & 2033
  17. Figure 17: By Geography Grain Oriented Electrical Steel Market Revenue Share (%), by Country 2025 & 2033
  18. Figure 18: By Geography Grain Oriented Electrical Steel Market Volume Share (%), by Country 2025 & 2033

List of Tables

  1. Table 1: Global Grain Oriented Electrical Steel Market Revenue USD Billion Forecast, by Product Type 2020 & 2033
  2. Table 2: Global Grain Oriented Electrical Steel Market Volume K Tons Forecast, by Product Type 2020 & 2033
  3. Table 3: Global Grain Oriented Electrical Steel Market Revenue USD Billion Forecast, by Thickness 2020 & 2033
  4. Table 4: Global Grain Oriented Electrical Steel Market Volume K Tons Forecast, by Thickness 2020 & 2033
  5. Table 5: Global Grain Oriented Electrical Steel Market Revenue USD Billion Forecast, by Application 2020 & 2033
  6. Table 6: Global Grain Oriented Electrical Steel Market Volume K Tons Forecast, by Application 2020 & 2033
  7. Table 7: Global Grain Oriented Electrical Steel Market Revenue USD Billion Forecast, by Region 2020 & 2033
  8. Table 8: Global Grain Oriented Electrical Steel Market Volume K Tons Forecast, by Region 2020 & 2033
  9. Table 9: Global Grain Oriented Electrical Steel Market Revenue USD Billion Forecast, by Product Type 2020 & 2033
  10. Table 10: Global Grain Oriented Electrical Steel Market Volume K Tons Forecast, by Product Type 2020 & 2033
  11. Table 11: Global Grain Oriented Electrical Steel Market Revenue USD Billion Forecast, by Thickness 2020 & 2033
  12. Table 12: Global Grain Oriented Electrical Steel Market Volume K Tons Forecast, by Thickness 2020 & 2033
  13. Table 13: Global Grain Oriented Electrical Steel Market Revenue USD Billion Forecast, by Application 2020 & 2033
  14. Table 14: Global Grain Oriented Electrical Steel Market Volume K Tons Forecast, by Application 2020 & 2033
  15. Table 15: Global Grain Oriented Electrical Steel Market Revenue USD Billion Forecast, by Country 2020 & 2033
  16. Table 16: Global Grain Oriented Electrical Steel Market Volume K Tons Forecast, by Country 2020 & 2033
  17. Table 17: North America Grain Oriented Electrical Steel Market Revenue (USD Billion) Forecast, by Application 2020 & 2033
  18. Table 18: North America Grain Oriented Electrical Steel Market Volume (K Tons ) Forecast, by Application 2020 & 2033

Methodology

Step 1 - Identification of Relevant Samples Size from Population Database

Step Chart
Bar Chart
Method Chart

Step 2 - Approaches for Defining Global Market Size (Value, Volume* & Price*)

Approach Chart
Top-down and bottom-up approaches are used to validate the global market size and estimate the market size for manufactures, regional segments, product, and application.

Note*: In applicable scenarios

Step 3 - Data Sources

Primary Research

  • Web Analytics
  • Survey Reports
  • Research Institute
  • Latest Research Reports
  • Opinion Leaders

Secondary Research

  • Annual Reports
  • White Paper
  • Latest Press Release
  • Industry Association
  • Paid Database
  • Investor Presentations
Analyst Chart

Step 4 - Data Triangulation

Involves using different sources of information in order to increase the validity of a study

These sources are likely to be stakeholders in a program - participants, other researchers, program staff, other community members, and so on.

Then we put all data in single framework & apply various statistical tools to find out the dynamic on the market.

During the analysis stage, feedback from the stakeholder groups would be compared to determine areas of agreement as well as areas of divergence

Additionally, after gathering mixed and scattered data from a wide range of sources, data is triangulated and correlated to come up with estimated figures which are further validated through primary mediums or industry experts, opinion leaders.

Frequently Asked Questions

1. What is the projected Compound Annual Growth Rate (CAGR) of the Grain Oriented Electrical Steel Market?

The projected CAGR is approximately 20.2%.

2. Which companies are prominent players in the Grain Oriented Electrical Steel Market?

Key companies in the market include ArcelorMittal (Luxembourg), POSCO (South Korea), Baosteel Group Corporation (China), Nippon Steel Corporation (Japan), JFE Steel Corporation (Japan), ThyssenKrupp Steel (Germany), Cleveland-Cliffs Inc. (U.S.), Arnold Magnetic Technologies (U.S.), VIZ-Steel (U.S.).

3. What are the main segments of the Grain Oriented Electrical Steel Market?

The market segments include Product Type, Thickness, Application.

4. Can you provide details about the market size?

The market size is estimated to be USD 11.78 USD Billion as of 2022.

5. What are some drivers contributing to market growth?

Increasing Demand for Eco-Friendly Plastics from Packaging Industry to Propel Market Growth.

6. What are the notable trends driving market growth?

Rising Emphasis on Environmentally Sustainable Iron Production to Create New Growth Opportunities.

7. Are there any restraints impacting market growth?

Fluctuations in Prices of Steel to Restrain Market Growth.

8. Can you provide examples of recent developments in the market?

March 2022 – ArcelorMittal announced an investment of more than USD 295 million to set up a new production unit for electrical steels at the Mardyck manufacturing site in North France. The new industrial unit will have a 200 kiloton production capacity and strengthen the French electro-mobility sector.

9. What pricing options are available for accessing the report?

Pricing options include single-user, multi-user, and enterprise licenses priced at USD 4850, USD 5850, and USD 6850 respectively.

10. Is the market size provided in terms of value or volume?

The market size is provided in terms of value, measured in USD Billion and volume, measured in K Tons .

11. Are there any specific market keywords associated with the report?

Yes, the market keyword associated with the report is "Grain Oriented Electrical Steel Market," which aids in identifying and referencing the specific market segment covered.

12. How do I determine which pricing option suits my needs best?

The pricing options vary based on user requirements and access needs. Individual users may opt for single-user licenses, while businesses requiring broader access may choose multi-user or enterprise licenses for cost-effective access to the report.

13. Are there any additional resources or data provided in the Grain Oriented Electrical Steel Market report?

While the report offers comprehensive insights, it's advisable to review the specific contents or supplementary materials provided to ascertain if additional resources or data are available.

14. How can I stay updated on further developments or reports in the Grain Oriented Electrical Steel Market?

To stay informed about further developments, trends, and reports in the Grain Oriented Electrical Steel Market, consider subscribing to industry newsletters, following relevant companies and organizations, or regularly checking reputable industry news sources and publications.