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U.S. Electrical Steel Market

U.S. Electrical Steel Market 2025 to Grow at 5.6 CAGR with 3.85 USD Billion Market Size: Analysis and Forecasts 2033

U.S. Electrical Steel Market by Type (Non-Grain Oriented, Grain Oriented), by Application (Transformer, Motors, Inductors, Others), by Forecast 2026-2034

Jun 16 2025

Base Year: 2025

120 Pages

U.S. Electrical Steel Market 2025 to Grow at 5.6 CAGR with 3.85 USD Billion Market Size: Analysis and Forecasts 2033

Key Insights

The U.S. Electrical Steel Market size was valued at USD 3.85 USD Billion in 2023 and is projected to reach USD 5.64 USD Billion by 2032, exhibiting a CAGR of 5.6 % during the forecast period. The electric steel industry refers to the production and distribution of steel, whose production is based on the electric arc furnace (EAF) technology with electricity instead of the blast furnaces as a primary fuel. As a result, electric steel possesses beneficial quality especially because it has enabling properties adaptable for use in automotive, construction, machinery, and appliance industries. The current trend in the US electrical steel market shows that an increasing number of businesses seek sustainability and energy efficiency in their production processes, let’s just say it goes hand in hand with efforts to limit greenhouse gas emissions. Power steels of different kinds as alloy steel and stainless steel are produced to meet different specifications in the industry. However, the growing concern about environmental sustainability and the electric arc furnace technology saw great improvements in the US electric steel market prospects progressively.

U.S. Electrical Steel Trends

Increasing adoption of energy-efficient appliances and devices
Growing demand for electrical steel in the automotive sector
Rising government initiatives to promote the use of electrical steel

U.S. Electrical Steel Market Market Size and Forecast (2024-2030) — U.S. Electrical Steel Market Company Market Share

Driving Forces: What's Propelling the U.S. Electrical Steel Market

Stringent Energy Efficiency Standards: The U.S. government's increasing emphasis on energy conservation through stricter regulations (e.g., the Energy Independence and Security Act) is significantly boosting demand for high-efficiency electrical steel in a wide range of applications, including motors, transformers, and appliances. This trend is expected to continue as standards become even more rigorous.
Renewable Energy Expansion Fuels Growth: The rapid expansion of renewable energy sources like wind and solar power necessitates substantial investments in electrical steel for critical components within power generation and transmission infrastructure. Specifically, wind turbine generators and solar inverters rely heavily on this specialized steel for optimal performance and efficiency.
Electrification of Transportation: The ongoing shift towards electric vehicles (EVs) and hybrid electric vehicles (HEVs) is creating a surge in demand for electrical steel. Electric motors, a core component of EVs and HEVs, require high-quality electrical steel to maximize efficiency and reduce energy loss, driving significant market growth.
Advancements in Power Electronics: The continuous improvement in power electronics technology, particularly in areas like high-frequency converters and inverters, is pushing the need for electrical steel with enhanced magnetic properties. These advancements are enabling greater energy efficiency and higher power density in various applications.

Challenges and Restraints in U.S. Electrical Steel Market

High Production Costs: Electrical steel production is a complex and energy-intensive process, resulting in higher production costs. To mitigate this, manufacturers are exploring cost-effective techniques and optimizing supply chain operations.
Competition from Advanced Materials: While amorphous metals and nanocrystalline alloys offer competitive performance at lower costs, electrical steel continues to find applications in high-power equipment due to its superior magnetic properties.
Dependence on Raw Materials: The industry relies heavily on raw materials like iron ore and nickel, whose fluctuating prices impact production costs. To address this, producers are exploring alternative sources and recycling initiatives.
Market Saturation: The electrical steel market in the U.S. is relatively mature, leading to increased competition and limited growth potential.

Emerging Trends in U.S. Electrical Steel

Development of New Alloys: Research and development efforts are focused on creating new alloys with improved magnetic properties, lower losses, and higher efficiency.
Thin-Gauge Electrical Steel: The development of thin-gauge electrical steel is gaining traction as it reduces material usage, weight, and costs.
Integration of Digital Technologies: The adoption of digital technologies, such as IoT and AI, is enabling real-time monitoring and optimization of electrical steel production processes.

Growth Catalysts in U.S. Electrical Steel Industry

Government Incentives: Tax credits, subsidies, and incentives for energy-efficient technologies and renewable energy systems continue to drive demand for electrical steel.
Collaborations with Universities and Research Institutions: Partnerships with academic institutions foster innovation and advancements in electrical steel development, enhancing product performance and cost-effectiveness.
Expansion of Manufacturing Facilities: Major manufacturers are investing in expanding their production capacities to meet the growing demand for electrical steel, particularly in the EV and power generation sectors.
Emerging Applications: New applications, such as electric vehicles, smart grids, and advanced power electronics, are creating opportunities for electrical steel growth.

Market Segmentation: U.S. Electrical Steel Analysis

Type:

Non-Grain Oriented
Grain Oriented

Application:

Transformer
Motors
Inductors
Others

Leading Players in the U.S. Electrical Steel Market

Significant developments in U.S. Electrical Steel Sector

January 2023: Nucor launched Elcyon, a sustainable heavy gauge steel plate, which is engineered specifically for offshore wind energy applications. The company’s steel plant is located in Kentucky, U.S., and was commercialized in December 2022.

Comprehensive Coverage U.S. Electrical Steel Market Report

Detailed Market Sizing and Forecasting: Precise analysis of current market size and projections for future growth, considering various influencing factors and scenarios.
Granular Market Segmentation: Comprehensive breakdown of the market by steel type (e.g., non-oriented, grain-oriented), application (e.g., motors, transformers, generators, automotive), and geographical region within the U.S.
In-depth Trend Analysis: Exploration of key industry trends, including technological advancements, material innovations, and evolving regulatory landscapes.
Challenges and Opportunities Assessment: Identification of significant challenges faced by market players and insightful analysis of emerging opportunities for growth and innovation.
Competitive Landscape and Key Player Analysis: Detailed profiles of major market participants, encompassing their market share, strategies, and competitive advantages. This includes analysis of mergers and acquisitions, strategic partnerships, and technological advancements.

Regional Insight

North America
Europe
Asia-Pacific
South America
Middle East & Africa

U.S. Electrical Steel Market Market Share by Region - Global Geographic Distribution — U.S. Electrical Steel Market Regional Market Share

Consumer Side Analysis

Market trends and preferences
Purchase patterns and behavior
Consumer demographics and segmentation

Demand Side Analysis

Market size and growth
Factors influencing demand
Regional variations in demand

Import And Export Analysis

Trade data and trends
Key importing and exporting countries
Tariffs and regulations

Pricing Strategies

Market pricing trends
Competitive pricing strategies
Cost analysis and profit margins

Segmentation

Market segmentation by product, geography, and application
Competitive analysis and market shares

U.S. Electrical Steel Market REPORT HIGHLIGHTS

Aspects	Details
Study Period	2020-2034
Base Year	2025
Estimated Year	2026
Forecast Period	2026-2034
Historical Period	2020-2025
Growth Rate	CAGR of 5.6% from 2020-2034
Segmentation	By Type Non-Grain Oriented Grain Oriented By Application Transformer Motors Inductors Others By Geography

1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
2. Executive Summary
- 2.1. Introduction
3. Market Dynamics
- 3.1. Introduction
- - 3.2. Market Drivers
  - - 3.2.1. Rising Demand from Automotive Industry to Drive Market Growth
- - 3.3. Market Restrains
  - - 3.3.1. Fluctuations in the Raw Material Prices likely to hamper Market Growth
- - 3.4. Market Trends
  - - 3.4.1. Rising Product Adoption in Electrical Motors Fuels Market Growth
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. U.S. Electrical Steel Market Analysis, Insights and Forecast, 2020-2032
- 5.1. Market Analysis, Insights and Forecast - by Type
  - 5.1.1. Non-Grain Oriented
  - 5.1.2. Grain Oriented
- 5.2. Market Analysis, Insights and Forecast - by Application
  - 5.2.1. Transformer
  - 5.2.2. Motors
  - 5.2.3. Inductors
  - 5.2.4. Others
- 5.3. Market Analysis, Insights and Forecast - by Region
  - 5.3.1.
6. Competitive Analysis
- 6.1. Market Share Analysis 2025
- - 6.2. Company Profiles
  - - 6.2.1 Nucor Corporation (U.S.)
      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 Tata Steel (India)
      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 NLMK (Russia)
      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 ArcelorMittal S.A. (Luxembourg)
      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 ThyssenKrupp Steel (Germany)
      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 Baosteel Group Corporation (China)
      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 NIPPON STEEL CORPORATION (Japan)
      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 Aperam S.A. (Luxembourg)
      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

Figure 1: U.S. Electrical Steel Market Revenue Breakdown (USD Billion, %) by Product 2025 & 2033
Figure 2: U.S. Electrical Steel Market Share (%) by Company 2025

List of Tables

Table 1: U.S. Electrical Steel Market Revenue USD Billion Forecast, by Type 2020 & 2033
Table 2: U.S. Electrical Steel Market Volume Kiloton Forecast, by Type 2020 & 2033
Table 3: U.S. Electrical Steel Market Revenue USD Billion Forecast, by Application 2020 & 2033
Table 4: U.S. Electrical Steel Market Volume Kiloton Forecast, by Application 2020 & 2033
Table 5: U.S. Electrical Steel Market Revenue USD Billion Forecast, by Region 2020 & 2033
Table 6: U.S. Electrical Steel Market Volume Kiloton Forecast, by Region 2020 & 2033
Table 7: U.S. Electrical Steel Market Revenue USD Billion Forecast, by Type 2020 & 2033
Table 8: U.S. Electrical Steel Market Volume Kiloton Forecast, by Type 2020 & 2033
Table 9: U.S. Electrical Steel Market Revenue USD Billion Forecast, by Application 2020 & 2033
Table 10: U.S. Electrical Steel Market Volume Kiloton Forecast, by Application 2020 & 2033
Table 11: U.S. Electrical Steel Market Revenue USD Billion Forecast, by Country 2020 & 2033
Table 12: U.S. Electrical Steel Market Volume Kiloton Forecast, by Country 2020 & 2033

Methodology

Step 1 - Identification of Relevant Samples Size from Population Database

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

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

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 U.S. Electrical Steel Market?

The projected CAGR is approximately 5.6%.

2. Which companies are prominent players in the U.S. Electrical Steel Market?

Key companies in the market include Nucor Corporation (U.S.), Tata Steel (India), NLMK (Russia), ArcelorMittal S.A. (Luxembourg), ThyssenKrupp Steel (Germany), Baosteel Group Corporation (China), NIPPON STEEL CORPORATION (Japan), Arnold Magnetic Technologies (U.S.), Aperam S.A. (Luxembourg).

3. What are the main segments of the U.S. Electrical Steel Market?

The market segments include Type, Application.

4. Can you provide details about the market size?

The market size is estimated to be USD 3.85 USD Billion as of 2022.

5. What are some drivers contributing to market growth?

Rising Demand from Automotive Industry to Drive Market Growth.

6. What are the notable trends driving market growth?

Rising Product Adoption in Electrical Motors Fuels Market Growth.

7. Are there any restraints impacting market growth?

Fluctuations in the Raw Material Prices likely to hamper Market Growth.

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

January 2023: Nucor launched Elcyon, a sustainable heavy gauge steel plate, which is engineered specifically for offshore wind energy applications. The company’s steel plant is located in Kentucky, U.S., and was commercialized in December 2022.

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 Kiloton.

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

Yes, the market keyword associated with the report is "U.S. 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 U.S. 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 U.S. Electrical Steel Market?

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

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