Global GO Electrical Steel Market Growth 2025-2031

Global GO Electrical Steel Market Growth 2025-2031

The global GO Electrical Steel market size is predicted to grow from US$ 9197 million in 2025 to US$ 11900 million in 2031; it is expected to grow at a CAGR of 4.4% from 2025 to 2031.

Electrical steel is an alloy that contains iron and silicon. It can be manufactured by modifying the magnetic properties of steel for efficient magnetism and electricity conversion. Also called silicon steel, lamination steel, relay steel or transformer steel, this type of steel is very often used to build the cores of transformers as well as the stators of generators and motors. An electrical steel sheet is a functional material used as an iron core material for electrical equipment. There are two types of electrical steel: grain oriented electrical steel and non-grain oriented electrical steel, and they are used for different applications. In this report we researched grain oriented electrical steel. Grain oriented electrical steels are iron-silicon magnetic alloys. These alloys are used to construct the cores of highly-efficient electric transformers due to their unique magnetic properties. Available in grades M-2, M-3, M-4, M-5 and M-6, with superior magnetic properties in the rolling direction, oriented steels are used in transformer cores. They are used in large generators and other apparatus when the design permits the directional magnetic characteristics to be used efficiently.

Grain oriented electrical steel usually has a silicon level of 3%. It is processed in such a way that the optimal properties are developed in the rolling direction, due to a tight control (proposed by Norman P. Goss) of the crystal orientation relative to the sheet. Grain oriented electrical steels are usually applied in transformers, rectifiers and so on.

Global key players of GO Electrical Steel include Baowu Group, Nippon Steel, NLMK, Shougang, AK Steel (Cleveland-Cliffs), etc. The top five players hold a share about 58%. Asia-Pacific is the world's largest market for GO Electrical Steel and holds a share about 69%, followed by Europe and Americas, with share about 13% and 13%, separately. In terms of product type, High Magnetic Strength is the largest segment, accounting for a share about 57%. In terms of application, Transformer is the largest field with a share about 91 percent.

LP Information, Inc. (LPI) ' newest research report, the “GO Electrical Steel Industry Forecast” looks at past sales and reviews total world GO Electrical Steel sales in 2024, providing a comprehensive analysis by region and market sector of projected GO Electrical Steel sales for 2025 through 2031. With GO Electrical Steel sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world GO Electrical Steel industry.

This Insight Report provides a comprehensive analysis of the global GO Electrical Steel landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on GO Electrical Steel portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global GO Electrical Steel market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for GO Electrical Steel and breaks down the forecast by Type, by Application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global GO Electrical Steel.

This report presents a comprehensive overview, market shares, and growth opportunities of GO Electrical Steel market by product type, application, key manufacturers and key regions and countries.

Segmentation by Type:
High Magnetic Strength
Conventional

Segmentation by Application:
Transformer
Motor
Others

This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analysing the company's coverage, product portfolio, its market penetration.
Baowu Group
Nippon Steel
NLMK
Shougang
AK Steel (Cleveland-Cliffs)
ThyssenKrupp
Posco
JFE Steel
Stalprodukt S.A.
Chongqing Wangbian
Baotou Weifeng
Zhejiang Huaying
Aperam
Wuxi Huajing

Key Questions Addressed in this Report

What is the 10-year outlook for the global GO Electrical Steel market?

What factors are driving GO Electrical Steel market growth, globally and by region?

Which technologies are poised for the fastest growth by market and region?

How do GO Electrical Steel market opportunities vary by end market size?

How does GO Electrical Steel break out by Type, by Application?

Please note: The report will take approximately 2 business days to prepare and deliver.