The Global Relay Steel Market was valued at USD 37.77 Billion in 2023 and is projected to reach USD 62.62 Billion by 2030, growing at a Compound Annual Growth Rate (CAGR) of 8.5% during the forecast period. This robust growth is propelled by the global push for energy efficiency, the rapid expansion of renewable energy infrastructure, and the escalating demand for high-performance electrical equipment in the automotive and industrial sectors.

As the world transitions towards smarter power grids and electrified mobility, the demand for high-grade electrical steel, or relay steel, is surging. This specialized material is the lifeblood of efficient electricity transmission and conversion. In this blog, we profile the Top 10 Companies in the Relay Steel Industry—a group of global steel giants and specialized producers shaping the future of electrification.

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🔟 1. Nippon Steel Corporation (NSSMC)

Headquarters: Tokyo, Japan
Key Offering: Grain-oriented Silicon Steel (GOES), Non-oriented Silicon Steel (NOES)

Nippon Steel Corporation is a global leader in the production of high-grade electrical steel, holding a significant market share. The company’s advanced products are essential for manufacturing energy-efficient transformers and large-capacity generators used in power grids worldwide.

Innovation Initiatives:

• Pioneering ultra-thin gauge high-permeability GOES

• Investing in R&D for next-generation low-core-loss materials

• Strategic partnerships with global transformer manufacturers

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9️⃣ 2. POSCO

Headquarters: Pohang, South Korea
Key Offering: POSCO Electrical Steel, Hyper NOES, Eco-oriented Electrical Steel

POSCO is a major force in the Asian relay steel market, renowned for its high-quality non-oriented electrical steels that are critical for electric vehicle motors and high-efficiency appliances. The company continues to expand its production capacity to meet the explosive demand from the green energy sector.

Innovation Initiatives:

• Development of high-strength electrical steel for e-mobility applications

• Focus on reducing core losses to enhance energy efficiency in end-products

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8️⃣ 3. JFE Steel Corporation

Headquarters: Tokyo, Japan
Key Offering: JFE Oriented Silicon Steel, JNF Series Non-oriented Steel

JFE Steel is another Japanese powerhouse, competing closely with NSSMC in the high-end electrical steel segment. The company’s products are integral to power infrastructure projects across Asia, Europe, and the Americas, known for their reliability and superior magnetic properties.

Innovation Initiatives:

• Advanced domain control technology for grain-oriented steel

• Expanding production of high-grade steel for offshore wind farm transformers

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7️⃣ 4. NLMK Group

Headquarters: Moscow, Russia
Key Offering: Dynamo Steel, Transormer Steel

NLMK Group is a leading producer of electrical steel in Russia and Eastern Europe. The company supplies a wide range of dynamo and transformer steels to the CIS energy sector and has a growing export business, leveraging its competitive production costs.

Innovation Initiatives:

• Modernization of production lines to improve product quality and consistency

• R&D focused on meeting international efficiency standards (IEC, ASTM)

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6️⃣ 5. ThyssenKrupp AG

Headquarters: Essen, Germany
Key Offering: Powercore® Grain-oriented Steel, Non-oriented Electrical Steel

ThyssenKrupp is a key European supplier of relay steel, with a strong focus on the automotive and industrial sectors. Its Powercore® brand is well-established for transformer applications, emphasizing low core loss and high permeability.

Innovation Initiatives:

• Development of tailored solutions for electric and hybrid vehicle traction motors

• Sustainability drive to reduce the carbon footprint of steel production

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5️⃣ 6. Cleveland-Cliffs Inc. (formerly AK Steel)

Headquarters: Cleveland, Ohio, USA
Key Offering: AK Steel Electrical Steels, Grain-oriented and Non-oriented Grades

As a major North American producer, Cleveland-Cliffs is vital to the regional supply chain for electrical steel. The company’s products are used in the power distribution network and are increasingly important for the infrastructure supporting data centers and renewable energy projects.

Innovation Initiatives:

• Investment in upgrading electrical steel finishing facilities

• Focus on securing the North American supply chain for critical energy materials

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4️⃣ 7. Cogent Power Limited (A part of Tata Steel)

Headquarters: Rugby, United Kingdom
Key Offering: Grain-oriented Electrical Steel, Cobalt Iron alloys

Cogent Power, a subsidiary of Tata Steel, is a specialist in grain-oriented electrical steel in Europe. The company operates one of the continent’s most advanced electrical steel processing lines, serving transformer manufacturers with high-precision, high-performance products.

Innovation Initiatives:

• Specialization in domain-refined grades for ultra-high-efficiency transformers

• Development of advanced magnetic materials for specialized applications

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3️⃣ 8. ArcelorMittal

Headquarters: Luxembourg City, Luxembourg
Key Offering: Electrical Steels for Motors and Generators, iCARe® products

As the world’s largest steelmaker, ArcelorMittal has a significant presence in the electrical steel market. The company produces a broad portfolio of non-oriented grades that are essential for the motors found in electric vehicles, home appliances, and industrial machinery.

Innovation Initiatives:

• Sualpi joint venture with Nippon Steel for advanced electrical steel production in Europe

• Launch of iCARe® product family with improved magnetic properties

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2️⃣ 9. Baoshan Iron & Steel Co., Ltd. (Baowu Steel Group)

Headquarters: Shanghai, China
Key Offering: B Series Electrical Steel, Grain-oriented and Non-oriented

Baoshan Steel, a core subsidiary of the world’s largest steel producer, China Baowu Steel Group, is a dominant player in the Asian relay steel market. The company is central to China’s massive investments in power grid modernization and EV infrastructure.

Innovation Initiatives:

• Massive scale production to cater to domestic and international demand

• Rapid advancement in the quality and grade of its grain-oriented steel products

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1️⃣ 10. Stalprodukt S.A.

Headquarters: Bochnia, Poland
Key Offering: Cold-rolled Electrical Steel, Silicon Steel Sheets

Stalprodukt S.A. is a significant European manufacturer of cold-rolled electrical steel sheets. The company serves a diverse customer base across the EU, providing essential materials for the production of motors, transformers, and other electromagnetic devices.

Innovation Initiatives:

• Continuous improvement of production processes for better magnetic characteristics

• Focus on serving the growing Central and Eastern European industrial market

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🌍 Outlook: The Future of Relay Steel Is Intelligent and Efficient

The relay steel market is at the heart of the global energy transition. While traditional applications in transformers and generators continue to drive volume, the industry is innovating rapidly to meet the demands of digitalization, e-mobility, and renewable energy integration.

📈 Key Trends Shaping the Market:

• Explosive growth in demand for high-grade NOES from the electric vehicle sector

• Global grid modernization projects requiring ultra-efficient transformer steel

• Development of thin-gauge, low-core-loss materials for high-frequency applications

• Strategic collaborations between steel producers and OEMs to co-develop tailored solutions

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Relay Steel Market – View in Detailed Research Report

The companies listed above are not only supplying a critical industrial material—they are enabling the efficient and sustainable flow of electrical energy that powers modern society.