The Global Hot Rolled Silicon Steel Plate Market was valued at USD 18.5 Billion in 2025 and is projected to reach USD 25.8 Billion by 2034, growing at a Compound Annual Growth Rate (CAGR) of 3.7% during the forecast period. This robust growth is being driven by the global push for energy efficiency and the rapid expansion of the renewable energy and electric vehicle (EV) sectors, which rely heavily on this specialized steel for transformers, generators, and motors.

As the world accelerates its transition to a more electrified and sustainable future, the demand for high-performance magnetic materials is surging. In this blog, we profile the Top 10 Companies in the Hot Rolled Silicon Steel Plate Industry—a group of specialized steel producers and global manufacturers who are foundational to the efficiency of modern electrical infrastructure and transportation.

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🔟 1. China Baowu Steel Group Corp., Ltd.

Headquarters: Shanghai, China
Key Offering: Non-oriented and grain-oriented electrical steel plates

China Baowu is the world’s largest steel producer and a dominant force in the electrical steel market. Its advanced production facilities manufacture a wide range of hot rolled silicon steel plates essential for high-efficiency transformers and EV motors, supplying major global industrial and automotive customers.

Innovation & Market Leadership:

• Massive investment in R&D for ultra-thin, high-permeability grades
• Strategic focus on supplying the burgeoning Asian EV and renewable energy markets
• Consistent capacity expansion to maintain global supply leadership

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9️⃣ 2. Nippon Steel Corporation

Headquarters: Tokyo, Japan
Key Offering: High-grade non-oriented electrical steel (NOES), JNE series

Nippon Steel is a technological leader renowned for its premium electrical steel products. The company’s JNE series offers exceptionally low core loss, making it a preferred choice for manufacturers of high-performance electric vehicle motors and industrial generators demanding maximum efficiency.

Innovation & Market Leadership:

• Pioneer in domain refinement technology for grain-oriented steel
• Strong partnerships with leading Japanese and global automotive OEMs
• Focus on developing products for next-generation, high-speed EV motors

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8️⃣ 3. ThyssenKrupp AG

Headquarters: Essen, Germany
Key Offering: Powercore® electrical steel plates

ThyssenKrupp is a key European supplier of high-quality electrical steel, with its Powercore® brand being synonymous with reliability and performance. The company serves the continent’s robust automotive and heavy electrical equipment industries, emphasizing sustainable production processes.

Innovation & Market Leadership:

• Leading supplier to Europe’s automotive electrification supply chain
• Commitment to reducing the carbon footprint of its steel production
• Expertise in tailor-made solutions for specific customer applications

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7️⃣ 4. JFE Steel Corporation

Headquarters: Tokyo, Japan
Key Offering: JFE Super Core series, grain-oriented electrical steel

JFE Steel is another Japanese titan in the electrical steel space, competing fiercely on technology and quality. Its products are critical components in energy-efficient power transformers and the traction motors of high-speed trains and electric vehicles.

Innovation & Market Leadership:

• Development of the JFE Super Core series with world-leading magnetic properties
• Significant market share in the premium transformer steel segment
• Continuous improvement in manufacturing precision and material consistency

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6️⃣ 5. ArcelorMittal S.A.

Headquarters: Luxembourg City, Luxembourg
Key Offering: Electrical steels for motors and generators

As the world’s second-largest steel producer, ArcelorMittal has a substantial global footprint in electrical steels. The company supplies a broad spectrum of industries, from renewable energy and industrial automation to the automotive sector, leveraging its extensive international mill network.

Innovation & Market Leadership:

• Global supply chain capabilities ensuring wide availability
• Investment in developing advanced grades for energy-efficient applications
• Strong presence in both developed and emerging markets

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5️⃣ 6. POSCO

Headquarters: Pohang, South Korea
Key Offering: Electrical steel plates, including high silicon grades

POSCO is a major South Korean steelmaker with advanced capabilities in electrical steel production. The company is a critical supplier to South Korea’s world-leading electronics, automotive, and shipbuilding industries, with a growing focus on high-value-added products.

Innovation & Market Leadership:

• Strategic investments to increase high-grade electrical steel capacity
• Close collaboration with domestic EV manufacturers like Hyundai and Kia
• Focus on enhancing product quality to compete with top Japanese manufacturers

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4️⃣ 7. Shandong Wanhui Metal Products Co., Ltd.

Headquarters: Shandong, China
Key Offering: Hot rolled silicon steel plates, low and high silicon grades

Shandong Wanhui is a prominent Chinese manufacturer specializing in hot rolled silicon steel plates. The company has established a strong position by offering cost-effective solutions for a wide array of applications, from small motors to power distribution equipment.

Innovation & Market Leadership:

• Significant production volume catering to domestic and international demand
• Focus on serving cost-sensitive market segments without compromising on core quality
• Expanding technical capabilities to move into higher-value product segments

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3️⃣ 8. AK Steel Corporation (now part of Cleveland-Cliffs Inc.)

Headquarters: West Chester, Ohio, USA
Key Offering: AK Electrical Steels, grain-oriented and non-oriented

AK Steel, now operating under Cleveland-Cliffs, is a leading North American producer of electrical steels. The company has a long history of innovation in the sector and is a vital supplier to the U.S. power transmission and automotive industries.

Innovation & Market Leadership:

• One of the primary domestic suppliers for the U.S. electrical grid infrastructure
• Proprietary manufacturing processes for high-permeability electrical steels
• Strategic importance in regional supply chains for energy and automotive sectors

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2️⃣ 9. Wuxi Huajing New Materials Co., Ltd.

Headquarters: Wuxi, Jiangsu, China
Key Offering: Precision silicon steel strips and plates

Wuxi Huajing is a specialized manufacturer focusing on high-precision silicon steel products. The company serves niche markets that require strict tolerances and specific magnetic properties, often for advanced electronics and specialized motor applications.

Innovation & Market Leadership:

• Expertise in processing and finishing silicon steel to precise customer specifications
• Agile manufacturing allowing for custom orders and specialized grades
• Growing role in the supply chain for high-efficiency appliances and industrial automation

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1️⃣ 10. Stalprodukt S.A.

Headquarters: Bochnia, Poland
Key Offering: Cold-rolled and hot-rolled electrical steel sheets

Stalprodukt is a significant European producer of electrical steel, with a strong presence in the Central and Eastern European market. The company supplies transformer manufacturers and motor producers across the continent, benefiting from the region’s industrial base.

Innovation & Market Leadership:

• Key regional supplier with deep customer relationships in Europe
• Investment in modernizing production lines to improve product quality and range
• Strategic location serving both EU member states and neighboring markets

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🔌 Outlook: The Future of Hot Rolled Silicon Steel Is High-Efficiency and Sustainable

The hot rolled silicon steel plate market is undergoing a significant transformation. While it remains a cornerstone of electrical engineering, the industry is being reshaped by the global energy transition, demanding ever-higher levels of material performance and production sustainability.

📈 Key Trends Shaping the Market:

• Accelerated demand from EV manufacturers for high-efficiency motor cores
• Government mandates and incentives for energy-efficient transformers and motors
• R&D focus on producing thinner gauges and higher silicon content steels to minimize energy loss
• Increasing investment in production capacity, particularly within the Asia-Pacific region

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The companies listed above are not only supplying a critical industrial material—they are enabling the technological advancements that will define a more efficient and electrified global economy.