Top 10 Companies in the Electrical Steel Sheets Market (2026): Market Leaders Powering Global Electrification

MARKET INSIGHTS

Global electrical steel sheets market size was valued at USD 18.42 billion in 2024. The market is projected to grow from USD 19.13 billion in 2025 to USD 24.92 billion by 2032, exhibiting a CAGR of 3.90% during the forecast period.

Electrical steel sheets are specialized steel alloys engineered to exhibit specific magnetic properties, making them ideal for use in electrical equipment. These materials are characterized by their ability to conduct magnetic flux efficiently while minimizing energy losses through eddy currents. The primary types include grain‑oriented electrical steel (GOES) and non‑oriented electrical steel (NOES), each optimized for different applications in power generation, transmission, and electrical motors.

The market growth is being driven by increasing electrification across industries, particularly in renewable energy infrastructure and electric vehicle production. While demand remains strong in traditional sectors like transformers and generators, emerging applications in EV motors and charging infrastructure are creating new growth avenues. However, supply chain complexities and raw material price volatility continue to present challenges for manufacturers.

Electrical Steel Sheets Market – View in Detailed Research Report

1️⃣ 1. JFE Steel Corporation

Headquarters: Tokyo, Japan
Key Offering: Grain‑oriented electrical steel for high‑efficiency transformers and EV motors

JFE Steel leads the market with advanced production facilities across Japan, India, and Southeast Asia, delivering patented GOES technology that drives transformer efficiency.

Sustainability Initiatives:

• Investing in hydrogen‑based reduction to lower CO2 emissions.
• Developing ultra‑thin NOES grades for EV motors.
• Implementing circular steel recovery programs.

2️⃣ 2. Nippon Steel Corporation

Headquarters: Tokyo, Japan
Key Offering: High‑grade GOES and NOES for power transformers and industrial motors

With a production capacity of 5 million metric tons annually, Nippon Steel supplies both traditional and advanced grades, supporting infrastructure expansion in emerging markets.

Sustainability Initiatives:

• Adopting renewable energy in smelting processes.
• Collaborating on low‑carbon steel projects.
• Optimizing silicon usage to reduce raw material costs.

3️⃣ 3. POSCO

Headquarters: Pohang, South Korea
Key Offering: Thin‑gauge non‑oriented electrical steel for EV motors and power electronics

POSCO’s breakthrough in ultra‑thin NOES has accelerated its revenue growth and positioned it as a key supplier for the electric vehicle industry.

Sustainability Initiatives:

• Investing in carbon capture and storage (CCS) for steel production.
• Developing high‑efficiency annealing furnaces.
• Expanding recycling of electrical steel scrap.

4️⃣ 4. Tata Steel Limited

Headquarters: Mumbai, India
Key Offering: Low‑loss electrical steel grades for automotive and industrial applications

Through joint development with European automakers, Tata Steel delivers specialized grades that reduce energy consumption in motors and transformers.

Sustainability Initiatives:

• Implementing hydrogen‑based reduction in selected plants.
• Partnering on circular steel supply chains.
• Adopting Industry 4.0 for process optimization.

5️⃣ 5. voestalpine Stahl GmbH

Headquarters: Linz, Austria
Key Offering: High‑performance GOES and NOES for power and automotive sectors

voestalpine focuses on advanced magnetic properties, supporting smart grid and EV motor applications.

Sustainability Initiatives:

• Reducing CO2 intensity in steelmaking.
• Developing bio‑based process fuels.
• Enhancing material recovery from end‑of‑life products.

6️⃣ 6. Cogent Power Limited

Headquarters: London, United Kingdom
Key Offering: Specialized electrical steel for renewable energy and power electronics

Cogent Power supplies high‑grade steel to wind turbine manufacturers and grid operators.

Sustainability Initiatives:

• Investing in renewable energy projects.
• Partnering with utilities for low‑loss transformers.
• Implementing circular steel programs.

7️⃣ 7. AK Steel Corporation

Headquarters: Chicago, United States
Key Offering: High‑strength electrical steel for industrial and automotive applications

AK Steel delivers durable, low‑loss grades that meet stringent efficiency standards.

Sustainability Initiatives:

• Adopting renewable electricity in production.
• Optimizing process energy use.
• Enhancing scrap recycling rates.

8️⃣ 8. Stalprodukt S.A.

Headquarters: Warsaw, Poland
Key Offering: Custom electrical steel solutions for power and industrial sectors

Stalprodukt focuses on tailored grades that balance performance and cost.

Sustainability Initiatives:

• Reducing carbon intensity of steel production.
• Implementing closed‑loop recycling.
• Collaborating with European energy projects.

9️⃣ 9. thyssenkrupp

Headquarters: Duisburg, Germany
Key Offering: High‑performance GOES and NOES for power and automotive markets

thyssenkrupp leverages its engineering expertise to deliver low‑loss steel for transformers and EV motors.

Sustainability Initiatives:

• Investing in carbon‑neutral production technologies.
• Supporting green energy infrastructure projects.
• Enhancing material recovery from scrap.

🔟 10. Arnold Magnetic Technologies

Headquarters: Washington, United States
Key Offering: Advanced magnetic materials for high‑frequency power electronics and EV applications

Arnold focuses on ultra‑thin, high‑permeability grades that enable compact, efficient motors and power converters.

Sustainability Initiatives:

• Developing low‑loss magnetic alloys.
• Partnering with automotive OEMs on green technologies.
• Investing in research on energy‑efficient steel.

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Outlook (2025‑2034)

Base year 2025: USD 19.13 B
Estimated 2026: USD 20.00 B
Forecast 2034: USD 27.50 B, reflecting a CAGR of 3.90% over the period.

Future Trends

• Rapid expansion of electric vehicle production, driving demand for high‑efficiency NOES grades.
• Growth of renewable energy infrastructure, especially wind and solar, increasing need for high‑grade GOES.
• Advances in high‑frequency power electronics, prompting development of ultra‑thin, low‑loss electrical steel.
• Increasing focus on circular economy, with up to 90% material recovery from scrap.
• Implementation of stringent energy‑efficiency regulations, boosting demand for high‑permeability grades.