<img src="https://ml.globenewswire.com/Resource/Download/908fb457-7f8e-4a08-9081-5565e3dfb3d7?size=2" nborder="0" align="left" hspace="5" vspace="5" title="22157.jpg" alt="Company Logo"/>Non-grain-oriented electrical steel will lead the market, supported by EV traction motors, industrial equipment, HVAC systems, and appliances<div style="float:right;padding:0 0 15px 20px;margin:15px 0 20px 20px;width:300px">
 Electrical Steel Market
 <figure>
 <img src="https://ml.globenewswire.com/Resource/Download/791199b6-d9b5-40f9-8986-96f659546e84" title="Electrical Steel Market" alt="Electrical Steel Market" />
 <figcaption>Electrical Steel Market</figcaption>
 </figure>
</div>Dublin, Aug. 11, 2026 (GLOBE NEWSWIRE) -- The <a href="https://www.researchandmarkets.com/reports/5147132/electrical-steel-market-by-type-application?utm_source=GNE&amp;utm_medium=PressRelease&amp;utm_code=6jjdd5&amp;utm_campaign=2324440+-+Electrical+Steel+Market+Outlook+(2026-2031)+by+Type%2c+Application%2c+End-use+Industry%2c+and+Region+-+Industry+to+Reach+%2483.23+Billion+by+2031+as+Electrification+and+Renewable+Energy+Investments+Accelerate&amp;utm_exec=jocamsai" rel="nofollow" target="_blank" title="Electrical Steel Market by Type, Application, End-use Industry, and Region - Global Forecast to 2031">"Electrical Steel Market by Type, Application, End-use Industry, and Region - Global Forecast to 2031"</a> has been added to ResearchAndMarkets.com's offering. The global electrical steel market is projected to grow from USD 62.93 billion in 2026 to USD 83.23 billion by 2031, registering a compound annual growth rate of 5.8% during the forecast period. Market expansion is being supported by accelerating electrification, renewable energy integration, electric vehicle production, grid modernization, industrial automation, and rising demand for high-efficiency transformers and electric motors. <img alt="" height="400" src="//www.researchandmarkets.com/content-images/2517/2517267/1/electrical-steel-market.png" width="600" /> Manufacturers are increasing investments in advanced electrical steel grades as energy-efficiency requirements become more stringent across the automotive, energy, manufacturing, HVAC, and household appliance industries. Developments in thin-gauge processing, coating technologies, magnetic performance, and high-frequency core-loss reduction are expected to influence product innovation and competitive strategies throughout the electrical steel market. Non-Grain-Oriented Electrical Steel to Lead the Market The non-grain-oriented electrical steel segment is projected to hold the largest market share during the forecast period. Growth is primarily linked to expanding applications in electric vehicle traction motors, industrial motors, HVAC equipment, and household appliances. Rapid growth in EV production and the replacement of conventional motors with energy-efficient models are increasing demand for high-performance NGO electrical steel. Advances in thin-gauge electrical steel and specialized coating technologies are enabling lower core losses, higher power density, and improved operating efficiency. These developments are strengthening the role of NGO grades in compact motor designs and other electrification applications. Opportunities are also emerging in EV-specific NGO steel grades, precision control of silicon content above conventional limits, and closed-loop recycling supported by improved scrap segregation. Motors Segment to Account for the Second-Largest Application Share The motors segment is expected to represent the second-largest application share of the electrical steel market through 2031. Demand is being driven by industrial machinery, electric vehicles, HVAC systems, manufacturing automation, and consumer appliances. Stricter motor energy-efficiency regulations and corporate decarbonization objectives are accelerating the replacement of conventional equipment with higher-efficiency motor systems. Electric transportation and increased automation across manufacturing facilities will further support demand for application-specific electrical steel grades. Ongoing improvements in thin-gauge materials and coating performance are expected to enhance motor efficiency and reinforce the segment's position in the global market. However, manufacturers continue to face technical challenges related to achieving ultra-low core loss at high operating frequencies. Automotive Industry to Remain a Major Demand Center The automotive end-use industry is projected to account for the second-largest share of the electrical steel market during the forecast period. The transition to electric mobility and the increasing electrification of vehicle systems are driving consumption of electrical steel in traction motors, auxiliary motors, sensors, and onboard electrical systems. Automakers are seeking advanced, thin-gauge electrical steel to support compact motor architectures, higher power density, improved magnetic efficiency, lower core losses, and greater EV driving range. Government incentives for electric vehicle manufacturing, emissions-reduction targets, and investments in domestic automotive supply chains are expected to sustain global demand. Advancements in EV motor technologies are also increasing material intensity and creating new product-development opportunities for electrical steel suppliers. North America to Be the Second-Largest Regional Market by Value North America is projected to represent the second-largest regional electrical steel market by value through 2031. Investments in grid modernization, renewable energy integration, electric vehicle manufacturing, and battery production are supporting demand across the United States and Canada. Upgrades to aging transmission and distribution infrastructure are increasing requirements for high-efficiency transformers that use grain-oriented electrical steel. At the same time, expanding EV manufacturing capacity is boosting consumption of non-grain-oriented electrical steel for traction motors. Energy-efficiency regulations, emissions-reduction policies, and the region's established automotive and industrial manufacturing base are expected to maintain North America's importance within global electrical steel consumption. Competitive Landscape The electrical steel market report provides company profiles, recent developments, product portfolios, and strategic assessments of leading industry participants. Companies covered include ArcelorMittal of Luxembourg; POSCO of South Korea; China Baowu Steel Group Corporation Limited of China; voestalpine AG of Austria; Nippon Steel Corporation of Japan; United States Steel Corporation of the US; Steel Authority of India Limited, or SAIL, of India; Tata Steel of India; and thyssenkrupp AG of Germany, among others. The competitive analysis evaluates market shares, service offerings, and growth strategies, including partnerships, collaborations, product launches, capacity expansions, and acquisitions. The research also assesses emerging startups participating in the electrical steel market ecosystem. Research Coverage The study categorizes the electrical steel market by type, application, end-use industry, and region. Type segmentation covers grain-oriented and non-grain-oriented electrical steel. Applications include transformers, motors, and inductors. End-use industries comprise energy, automotive, manufacturing, and household appliances. Regional coverage includes Asia Pacific, North America, Europe, South America, and the Middle East and Africa. The report examines the principal drivers, restraints, opportunities, and challenges affecting market growth. Key drivers include the availability of iron ore and other minerals used in electrical steel production, expansion of urban infrastructure networks, renewable energy development, and advances in electric vehicle motor technologies. Market restraints include volatility in raw material quality and supply security, energy-intensive processing, and rising pressure to decarbonize steel production. Growth opportunities include EV-specific NGO grades, advanced silicon-content control, product innovation, untapped regional markets, recycling initiatives, and investments in closed-loop material systems. Key challenges include high-frequency core-loss reduction and increasingly stringent environmental compliance requirements for hazardous process emissions. The report also provides insights into upcoming technologies, research and development programs, product and service launches, profitable regional markets, new products, untapped geographies, recent investments, and market diversification strategies. Key Attributes: <table style="border-collapse: collapse; width:100%; border-collapse:collapse ;"><tr><td style="border-top: solid black 1pt ; border-right: solid black 1pt ; border-left: solid black 1pt ; ">Report Attribute</td><td style="border-top: solid black 1pt ; border-right: solid black 1pt ; ">Details</td></tr><tr><td style="border-top: solid black 1pt ; border-right: solid black 1pt ; border-left: solid black 1pt ; ">No. of Pages</td><td style="border-top: solid black 1pt ; border-right: solid black 1pt ; ">325</td></tr><tr><td style="border-top: solid black 1pt ; border-right: solid black 1pt ; border-left: solid black 1pt ; ">Forecast Period</td><td style="border-top: solid black 1pt ; border-right: solid black 1pt ; ">2026-2031</td></tr><tr><td style="border-top: solid black 1pt ; border-right: solid black 1pt ; border-left: solid black 1pt ; ">Estimated Market Value (USD) in 2026</td><td style="border-top: solid black 1pt ; border-right: solid black 1pt ; ">$62.93 Billion</td></tr><tr><td style="border-top: solid black 1pt ; border-right: solid black 1pt ; border-left: solid black 1pt ; ">Forecasted Market Value (USD) by 2031</td><td style="border-top: solid black 1pt ; border-right: solid black 1pt ; ">$83.23 Billion</td></tr><tr><td style="border-top: solid black 1pt ; border-right: solid black 1pt ; border-left: solid black 1pt ; ">Compound Annual Growth Rate</td><td style="border-top: solid black 1pt ; border-right: solid black 1pt ; ">6%</td></tr><tr><td style="border-top: solid black 1pt ; border-right: solid black 1pt ; border-bottom: solid black 1pt ; border-left: solid black 1pt ; ">Regions Covered</td><td style="border-top: solid black 1pt ; border-right: solid black 1pt ; border-bottom: solid black 1pt ; ">Global</td></tr></table> Market Dynamics <ul><li>Drivers <ul><li>Abundance of Iron Ore &amp; Other Minerals For Electrical Steel Production</li><li>Expansion of Urban Infrastructure Networks</li><li>Expansion of Renewable Energy Infrastructure Increasing Transformer and Grid Equipment Demand</li><li>Advancements in Electric Vehicle Motor Technologies Driving Higher Material Intensity</li></ul> </li><li>Challenges <ul><li>Restraints <ul><li>Volatility in Raw Material Quality and Supply Security</li><li>Energy-Intensive Processing With Rising Decarbonization Pressure</li></ul> </li><li>Achieving Ultra-Low Core Loss at High Frequencies</li><li>Increasingly Stringent Environmental Compliance For Hazardous Process Emissions</li></ul> </li><li>Case Studies <ul><li>Nippon Steel Corporation - Ev Motor Efficiency Enhancement Initiative</li><li>Posco: Transformer Performance For Renewable Grids</li><li>Thyssenkrupp Steel - Low-Carbon Electrical Steel Production Shift</li></ul> </li><li>Opportunities <ul><li>Expansion Into Ev-Specific Ngo Steel Grades</li><li>Precision Control of Silicon Content Above Conventional Limits</li><li>Scrap Segregation and Closed-Loop Recycling For Electrical Steel</li></ul> </li></ul> Company Profiles <ul><li>Arcelormittal</li><li>Posco</li><li>China Baowu Steel Group Corporation Limited</li><li>Voestalpine AG</li><li>Nippon Steel Corporation</li><li>United States Steel Corporation</li><li>Steel Authority of India Limited (Sail)</li><li>Tata Steel</li><li>Thyssenkrupp AG</li><li>Jfe Steel Corporation</li><li>Cleveland-Cliffs Inc.</li><li>Hebei Puyang Iron and Steel Group</li><li>Jiangsu Shagang International Trade Co. Ltd.</li><li>China Steel Corporation</li><li>Jsw Steel</li><li>Leicong Industrial Co. Ltd.</li><li>Angang Steel Company Limited</li><li>Aperam SA</li><li>Allegheny Technologies</li><li>Union Electric Steel Corporation</li><li>Euro-Mit Staal B.V.</li><li>Tc Metal</li><li>Vesuvius PLC</li><li>Ferric Srl</li><li>Waelzholz GmbH &amp; Co.</li></ul> For more information about this report visit <a href="https://www.researchandmarkets.com/reports/5147132/electrical-steel-market-by-type-application?utm_source=GNE&amp;utm_medium=PressRelease&amp;utm_code=6jjdd5&amp;utm_campaign=2324440+-+Electrical+Steel+Market+Outlook+(2026-2031)+by+Type%2c+Application%2c+End-use+Industry%2c+and+Region+-+Industry+to+Reach+%2483.23+Billion+by+2031+as+Electrification+and+Renewable+Energy+Investments+Accelerate&amp;utm_exec=jocamsai" rel="nofollow" target="_blank" title="">https://www.researchandmarkets.com/r/9pkj7z</a> About ResearchAndMarkets.com ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends. 
 Attachment

<ul id="gnw_attachments_section-items">
 <li>
 <a target="_blank" href="https://ml.globenewswire.com/Resource/Download/791199b6-d9b5-40f9-8986-96f659546e84" title="Electrical Steel Market" rel="nofollow">Electrical Steel Market</a>
 </li>
 </ul>
<pre>CONTACT: 
CONTACT: ResearchAndMarkets.com 
 Laura Wood,Senior Press Manager 
 press@researchandmarkets.com
 For E.S.T Office Hours Call 1-917-300-0470 
 For U.S./ CAN Toll Free Call 1-800-526-8630 
 For GMT Office Hours Call +353-1-416-8900 

</pre> <img alt="" src='https://ml.globenewswire.com/media/YzA5YjA4NTktYmRlMS00NjBkLWJmZmYtZmEzYjNjNDJmMTg3LTEwMjY3MzctMjAyNi0wOC0xMS1lbg==/tiny/Research-and-Markets.png' referrerpolicy='no-referrer-when-downgrade' />

GlobeNewswire Inc.

Electrical Steel Market Outlook (2026-2031) by Type, Application, End-use Industry, and Region - Industry to Reach $83.23 Billion by 2031 as Electrification and Renewable Energy Investments Accelerate

Latest news from the world of business and finance – both local and global

MONEY FM 89.3 is Singapore's first and only Business and Personal Finance station, featuring local and international business and financial news.

MONEY FM 89.3

Discover newsletters from our DJs on LinkedIn