Top 10 Companies in the Global Non Grain-oriented Electrical Steel for Electric Vehicle Market (2026): Market Leaders Powering the Future of EV Materials

MARKET INSIGHTS

Global Non Grain-oriented Electrical Steel for Electric Vehicle Market was valued at USD 1,480 million in 2024 to USD 3,240 million by 2032, exhibiting a CAGR of 10.30% during the forecast period (2025-2032).

Non Grain-oriented Electrical Steel (NGOES) is a specialized soft magnetic material engineered for high efficiency in electric motors and generators. Unlike grain-oriented steel, these materials exhibit uniform magnetic properties in all directions, making them ideal for rotating applications in electric vehicles. The steel is classified based on thickness, silicon content, and magnetic performance, typically segmented into medium/low grade (applications requiring standard efficiency) and high grade (premium applications demanding superior magnetic flux density).

The market growth is driven by accelerating EV adoption, stringent energy efficiency regulations, and advancements in motor design. Asia-Pacific dominates production and consumption due to concentrated EV manufacturing hubs in China, Japan, and South Korea. Key players like Nippon Steel, Baowu, and Posco are expanding production capacities to meet rising demand, while technological innovations focus on reducing core losses and improving formability for next‑gen EV motors. Strategic collaborations between automakers and steel producers are further accelerating material optimization for electric drivetrains.

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Market Size

The sector reached USD 1,480 million in 2024 and is projected to climb to USD 3,240 million by 2032, reflecting a 10.30% growth trajectory. This expansion underscores the escalating role of NGOES in powering the next wave of EV production.

Product Definition

NGOES offers uniform magnetic characteristics, enabling seamless energy transfer in rotating machines. Its dual grading system—medium/low and high—addresses both cost‑sensitive and performance‑centric applications, ensuring that every EV motor can be tailored to specific efficiency targets.

10️⃣ 1. ThyssenKrupp

Headquarters: Düsseldorf, Germany
Key Offering: High‑grade NGOES for premium EV motors

ThyssenKrupp’s steel division delivers advanced magnetic performance, supporting European automakers in meeting stringent efficiency mandates. The company’s research pipeline focuses on alloy optimization, achieving core losses below 2 W/kg at 1.5 T.

Sustainability Initiatives:

• Low‑carbon production processes across its European plants
• Partnerships with OEMs to reduce overall vehicle emissions
• Investment in digital twin technology for process optimization

9️⃣ 2. Baowu

Headquarters: Shanghai, China
Key Offering: Medium‑grade NGOES for mass‑market EVs

Baowu’s extensive production network supports China’s rapid EV rollout, offering cost‑effective solutions without compromising magnetic quality. Recent capacity expansions target a 25% increase in high‑grade output.

Sustainability Initiatives:

• Energy‑efficient rolling mills with heat‑recovery systems
• Carbon‑neutral targets for 2035
• Collaborations with Chinese automakers on green supply chains

8️⃣ 3. Nippon Steel

Headquarters: Tokyo, Japan
Key Offering: Premium NGOES for high‑performance EV motors

Nippon Steel’s precision alloying processes deliver exceptional magnetic permeability, critical for Japan’s premium EV segment. The company’s R&D focuses on reducing silicon content while maintaining flux density.

Sustainability Initiatives:

• Zero‑emission steelmaking pilot plants
• Supply‑chain transparency for OEM partners
• Investment in hydrogen‑based reduction technology

7️⃣ 4. Posco

Headquarters: Seoul, South Korea
Key Offering: High‑grade NGOES for premium EV platforms

Posco’s integrated steel‑to‑vehicle pipeline enables rapid deployment of high‑performance materials. The firm’s focus on alloy innovation has yielded grades with superior core loss performance.

Sustainability Initiatives:

• Carbon‑capture and storage projects in steel mills
• Partnerships with Korean OEMs on electrification roadmaps
• Investment in renewable energy for production sites

6️⃣ 5. JFE Steel

Headquarters: Tokyo, Japan
Key Offering: Medium‑grade NGOES for cost‑efficient EV motors

JFE Steel’s balanced approach delivers reliable magnetic performance at competitive prices, supporting both emerging and established markets. The company’s manufacturing footprint spans Japan and Southeast Asia.

Sustainability Initiatives:

• Energy‑efficient rolling mills with advanced heat‑management
• Transparent reporting of CO₂ emissions per ton of steel
• Collaboration with OEMs on low‑carbon vehicle programs

5️⃣ 6. Shougang

Headquarters: Beijing, China
Key Offering: Medium‑grade NGOES tailored for domestic EV manufacturers

Shougang’s focus on medium‑grade steel aligns with China’s cost‑competitive EV strategy. Recent investments in precision heat‑treatment have improved magnetic consistency.

Sustainability Initiatives:

• Implementation of waste‑heat recovery systems
• Participation in China’s low‑carbon steel pilot program
• Collaboration with local universities on alloy research

4️⃣ 7. Voestalpine

Headquarters: Linz, Austria
Key Offering: High‑grade NGOES for European premium EVs

Voestalpine’s European expertise ensures high‑quality material supply for OEMs. The company’s R&D invests in reducing core losses for high‑frequency motors.

Sustainability Initiatives:

• Zero‑emission production lines in Austria
• Carbon‑neutral targets for 2030
• Partnerships with European automakers on circular supply chains

3️⃣ 8. TATA Steel

Headquarters: Mumbai, India
Key Offering: Medium‑grade NGOES for emerging EV markets

TATA Steel’s expansion into the NGOES segment supports India’s growing EV ecosystem. The firm focuses on cost‑effective production while maintaining magnetic reliability.

Sustainability Initiatives:

• Energy‑efficient rolling processes in India
• Investment in renewable energy for plants
• Collaboration with Indian OEMs on green vehicle programs

2️⃣ 9. ArcelorMittal

Headquarters: Luxembourg
Key Offering: High‑grade NGOES for global EV supply chains

ArcelorMittal’s global footprint enables flexible supply of high‑grade steel. The company’s focus on alloy innovation supports diverse EV applications.

Sustainability Initiatives:

• Carbon‑neutral steel production targets by 2050
• Investment in hydrogen‑based reduction processes
• Partnerships with OEMs on low‑carbon vehicle manufacturing

1️⃣ 10. AK Steel

Headquarters: Cleveland, United States
Key Offering: Medium‑grade NGOES for North American EVs

AK Steel’s emphasis on cost efficiency supports the U.S. EV market’s growth. The firm’s manufacturing upgrades focus on precision alloy control to enhance magnetic performance.

Sustainability Initiatives:

• Energy‑efficient rolling mills with renewable power mix
• Carbon‑footprint reduction targets for 2030
• Collaboration with U.S. automakers on green supply chains

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Outlook: The Future of NGOES in EVs

As EV production accelerates, the demand for high‑grade NGOES will intensify, particularly in markets prioritizing performance and regulatory compliance. Companies that can deliver low‑loss, high‑flux materials while maintaining competitive pricing will capture the most value.

Future Trends: Innovation and Market Evolution

• Continued alloy refinement to lower core losses below 1.5 W/kg
• Integration of AI‑driven process control for consistent magnetic properties
• Expansion of wireless charging systems requiring specialized steel grades
• Growth of rare‑earth‑free motor designs reducing steel content demand
• Increased collaboration between steel producers and OEMs for platform‑specific solutions