Top 10 Companies Powering Global NGO Steel in Electric Vehicles (2026): Market Leaders Driving the Future of EV Mobility

MARKET INSIGHTS

Global NGO steel in electric vehicle market size was valued at USD 2.63 billion in 2025 and is projected to grow from USD 2.9 billion in 2026 to USD 5.75 billion by 2034, exhibiting a CAGR of 8.9% during the forecast period.

Non‑grain oriented (NGO) electrical steel, also known as silicon steel, is a vital soft magnetic material essential for the core components of electric vehicle (EV) traction motors. Its key characteristic is isotropic magnetic properties, meaning it performs uniformly in all directions, which is critical for the efficient design and operation of motors. This steel is manufactured with precise silicon content to achieve high magnetic permeability and low core loss (hysteresis and eddy current losses), enabling the high‑frequency switching and superior energy conversion efficiency demanded by modern EV powertrains. It is primarily used in laminated stacks for stator and rotor cores, directly impacting motor performance, range, and vehicle power density.

The market’s robust growth is primarily fueled by the unprecedented global expansion of electric vehicle production, which exceeded 14 million units in 2024. As governments worldwide enforce stricter emissions targets—such as the EU’s 2035 ban on internal combustion engines and the U.S. Inflation Reduction Act’s incentives—automakers are accelerating their electrification roadmaps. This translates directly into surging demand for high‑performance NGO steel. Additionally, the trend toward 800V vehicle architectures and more powerful, high‑speed motors is driving innovation and premiumization within the market, pushing manufacturers to develop thinner gauge (e.g., 0.20‑0.27 mm) and higher‑grade (NO 20 and NO 25 series) steels with ultra‑low core loss. Industry leaders like Nippon Steel and POSCO are making significant capital investments to expand production capacity for these advanced grades to meet the stringent specifications of major EV original equipment manufacturers (OEMs).

Global NGO Steel in Electric Vehicle Market – View in Detailed Research Report

Top 10 Companies Powering Global NGO Steel in Electric Vehicles

1. Baowu Steel Group

Headquarters: Shanghai, China
Key Offering: Advanced NO20 and NO27 series grades optimized for EV traction motor cores

Baowu’s vertically integrated production network allows it to tailor silicon content and lamination thickness with precision, meeting the tight core‑loss specifications demanded by premium OEMs. The group’s recent expansion of its 800 V‑ready capacity reflects a strategic push to secure long‑term supply contracts across China’s rapidly growing EV market.

Sustainability & Growth Initiatives:

• Investment in low‑carbon annealing processes to reduce CO₂ intensity.
• Partnerships with major EV manufacturers to co‑develop next‑generation motor materials.
• Implementation of a digital traceability platform for end‑to‑end material provenance.

2. Nippon Steel Corporation

Headquarters: Tokyo, Japan
Key Offering: High‑efficiency NO30‑16 and NO35‑19 grades with superior magnetic permeability

Nippon Steel’s focus on precision cold‑rolling and annealing has positioned it as a preferred supplier for premium EV platforms that demand ultra‑thin laminations and low core loss. The company’s recent capital allocation toward automation of its rolling mills underscores its commitment to maintaining a competitive edge in material quality.

Sustainability & Growth Initiatives:

• Deployment of renewable energy‑powered furnaces to cut emissions.
• Collaboration with research institutes on silicon‑rich alloy development.
• Expansion of its North American production footprint to support local OEMs.

3. POSCO

Headquarters: Seoul, South Korea
Key Offering: NO30‑16 and NO35‑19 grades with exceptional low core loss

POSCO’s investment in high‑speed rolling technology has enabled the production of ultra‑thin laminations that meet the demands of 800 V architectures. The company’s close collaboration with Korean automakers ensures alignment between material development and upcoming motor designs.

Sustainability & Growth Initiatives:

• Integration of hydrogen‑based steelmaking to reduce carbon footprint.
• Participation in industry consortia focused on decarbonizing the supply chain.
• Strategic alliances with battery manufacturers to support end‑to‑end EV production.

4. ArcelorMittal

Headquarters: Luxembourg
Key Offering: Broad portfolio of NO series grades with a focus on high‑performance applications

ArcelorMittal’s global reach allows it to supply a diversified mix of NGO steel to OEMs across Europe and North America. Its recent investment in a low‑carbon production line in Belgium reflects a commitment to meeting the sustainability expectations of its automotive partners.

Sustainability & Growth Initiatives:

• Deployment of electric arc furnaces powered by renewable electricity.
• Development of a closed‑loop recycling program for scrap steel.
• Collaboration with European automakers on carbon‑neutral motor components.

5. ThyssenKrupp

Headquarters: Düsseldorf, Germany
Key Offering: Low‑carbon, cobalt‑free NGO steel formulations tailored for European OEMs

ThyssenKrupp’s focus on sustainability has driven the creation of grades that meet the EU’s stringent emissions targets while maintaining high magnetic performance. The company’s ongoing research into nanocrystalline alloys positions it at the forefront of next‑generation material development.

Sustainability & Growth Initiatives:

• Investment in carbon capture and storage technologies at its steel plants.
• Partnerships with German automakers on green motor production.
• Implementation of a digital twin platform for process optimization.

6. JFE Steel

Headquarters: Tokyo, Japan
Key Offering: Precision‑engineered thin‑gauge NGO steel for high‑speed motor applications

JFE Steel’s niche focus on ultra‑thin laminations supports the development of high‑torque, high‑frequency motors. Its collaboration with Japanese automakers on advanced motor prototypes demonstrates a strong alignment between material innovation and vehicle design.

Sustainability & Growth Initiatives:

• Adoption of solar‑powered rolling mills.
• Research into bio‑based silicon additives to reduce energy consumption.
• Participation in the Japan Steel Association’s decarbonization roadmap.

7. Tata Steel

Headquarters: Mumbai, India
Key Offering: Emerging portfolio of NO series grades for India’s growing EV sector

Tata Steel’s recent expansion of its steel mill in Jamshedpur is geared toward meeting the domestic demand for high‑quality NGO steel as India ramps up its EV manufacturing. The company’s focus on cost‑effective production aligns with the price sensitivity of the Indian market.

Sustainability & Growth Initiatives:

• Investment in renewable energy projects to power its mills.
• Collaboration with Indian automakers on low‑carbon motor components.
• Implementation of waste‑heat recovery systems to improve energy efficiency.

8. Shougang Group

Headquarters: Beijing, China
Key Offering: Mid‑range NO series grades supporting high‑volume EV production

Shougang’s strategic location near major Chinese automakers allows it to provide timely supply of NGO steel for mass‑produced EV platforms. The group’s focus on scale and reliability ensures consistent material availability for large‑volume customers.

Sustainability & Growth Initiatives:

• Deployment of low‑energy consumption rolling processes.
• Partnership with Chinese automakers on joint research into high‑efficiency grades.
• Implementation of a digital supply‑chain monitoring system.

9. Voestalpine

Headquarters: Linz, Austria
Key Offering: High‑performance NGO steel with a focus on European OEMs

Voestalpine’s emphasis on quality and sustainability has made it a trusted partner for European automakers seeking low‑core‑loss materials. The company’s recent investment in a dedicated research center for magnetic materials supports its position as a technology leader.

Sustainability & Growth Initiatives:

• Use of renewable energy for its production processes.
• Development of a closed‑loop recycling system for scrap steel.
• Collaboration with European automotive groups on green motor solutions.

10. AK Steel (Cleveland‑Cliffs)

Headquarters: Cleveland, United States
Key Offering: Domestic production of NGO steel grades tailored for North American OEMs

AK Steel’s integration into Cleveland‑Cliffs has expanded its capacity to produce high‑quality NGO steel for the U.S. market. The company’s focus on local production aligns with the U.S. Inflation Reduction Act’s push for domestic content in EV supply chains.

Sustainability & Growth Initiatives:

• Investment in electric arc furnaces powered by renewable electricity.
• Partnerships with U.S. automakers on low‑carbon motor components.
• Implementation of advanced monitoring systems to reduce energy consumption.

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OUTLOOK: Global NGO Steel in Electric Vehicle Market

The trajectory of the NGO steel market is closely tied to the pace of electrification and the evolving technical requirements of next‑generation motors. As automakers push toward higher power densities, higher operating frequencies, and 800 V architectures, the demand for ultra‑thin, low‑core‑loss grades will rise sharply. The concentration of production capacity in a few integrated steel producers will remain a critical factor, but regionalization efforts in North America and Europe are likely to diversify the supply base. Companies that can combine high‑performance material development with low‑carbon manufacturing will find a decisive advantage in securing long‑term contracts with OEMs seeking to meet stringent emissions and efficiency targets.

FUTURE TRENDS: Emerging Dynamics in NGO Steel

• Growth of ultra‑thin (<0.25 mm) NGO steel for high‑speed motors.
• Development of silicon‑rich alloys (3.0–3.5 % Si) to reduce core loss by up to 20 %.
• Expansion of domestic production in North America and Europe to mitigate supply chain risk.
• Increased focus on carbon‑neutral production pathways, including hydrogen‑based steelmaking.
• Rise of digital twin and predictive maintenance tools to optimize rolling and annealing processes.