The Global Electrical Silicon Steel Market was valued at USD 15.12 Billion in 2024 and is projected to reach USD 21.48 Billion by 2030, growing at a Compound Annual Growth Rate (CAGR) of 5.8% during the forecast period (2024–2030). This robust growth is being driven by the global push for energy efficiency, rapid electrification in the automotive and industrial sectors, and the escalating demand for renewable energy infrastructure.

As economies worldwide intensify their focus on decarbonization and smart grid modernization, the core material enabling these transitions—electrical silicon steel—is experiencing unprecedented demand. In this blog, we profile the Top 10 Companies in the Electrical Silicon Steel Industry—a group of steel giants and specialized producers shaping the future of efficient power generation, transmission, and utilization.

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🔟 1. Baoshan Iron & Steel Co., Ltd. (Baosteel)

Headquarters: Shanghai, China
Key Offering: Grain-Oriented (GOES) and Non-Grained Oriented (NGOES) Electrical Steel

Baosteel, a subsidiary of China Baowu Steel Group, is the world’s largest producer of electrical steel. The company dominates the market with its extensive product portfolio, serving the power transformer, motor, and generator industries globally. Its advanced production facilities and significant R&D investments allow it to produce high-grade, ultra-thin silicon steel with exceptionally low core losses.

Sustainability Initiatives:

• Developing ultra-high magnetic induction and low iron loss steel grades for next-generation transformers

• Investing in energy-efficient manufacturing processes to reduce carbon footprint

• Supplying critical materials for China’s national ultra-high-voltage (UHV) power grid expansion

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9️⃣ 2. Nippon Steel Corporation

Headquarters: Tokyo, Japan
Key Offering: High-grade GOES, NGOES, and High Permeability Steel

Nippon Steel is a global leader in high-performance electrical steel, renowned for its technological excellence. The company’s products are essential components in high-efficiency transformers and electric vehicle (EV) motors. Its dominance is built on continuous innovation in material science, producing steel that minimizes energy loss even under demanding operational conditions.

Sustainability Initiatives:

• Pioneering the development of domain-refined grain-oriented electrical steel for ultra-efficient power transformers

• Strategic partnerships with global automotive OEMs for EV traction motor applications

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8️⃣ 3. ThyssenKrupp AG

Headquarters: Essen, Germany
Key Offering: PowerCore® NGOES, Textured Core® GOES

ThyssenKrupp is a major European force in electrical steel, with a strong focus on high-quality, custom-tailored solutions. The company’s products are critical for energy-efficient motors, generators, and distribution transformers. Its technological expertise is particularly valued in the European market, which has stringent energy efficiency standards.

Sustainability Initiatives:

• Focus on producing materials that enable higher energy efficiency classes (e.g., IE4, IE5) for electric motors

• Commitment to carbon-neutral steel production through hydrogen-based direct reduction processes

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7️⃣ 4. JFE Steel Corporation

Headquarters: Tokyo, Japan
Key Offering: JNE Series NGOES, JGS Series GOES

JFE Steel is another Japanese titan, competing closely with Nippon Steel in the high-end electrical steel segment. The company excels in manufacturing steel with superior magnetic properties, which is vital for reducing energy losses in electrical equipment. JFE has a significant global presence, supplying key players in the automotive and energy sectors.

Sustainability Initiatives:

• Advanced R&D in thin-gauge, high-silicon steel for high-frequency applications

• Active contribution to international standards for energy-efficient electrical steel

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6️⃣ 5. ArcelorMittal S.A.

Headquarters: Luxembourg City, Luxembourg
Key Offering: iCARe® NGOES, iCARe®Tran GOES

As the world’s largest steel producer outside of China, ArcelorMittal holds a substantial share of the electrical steel market. The company offers a wide range of grades suitable for various applications, from small household appliances to large power transformers. Its global footprint ensures a reliable supply chain for customers worldwide.

Sustainability Initiatives:

• Development of sustainable steel products with a lower carbon footprint (e.g., XCarb®)

• Investment in circular economy models for steel production and recycling

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5️⃣ 6. POSCO

Headquarters: Pohang, South Korea
Key Offering: Eco-Electrical Steel (NGOES), Hyper NO®

POSCO is a leading South Korean steelmaker with a strong focus on innovation in electrical steel. The company’s Hyper NO® series is designed for high-efficiency motors, meeting the demanding requirements of the global EV and appliance industries. POSCO’s technological advancements are key to its competitive edge.

Sustainability Initiatives:

• Emphasis on developing eco-friendly electrical steel to support green technology

• Active participation in global initiatives for sustainable material sourcing and production

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4️⃣ 7. AK Steel (now part of Cleveland-Cliffs Inc.)

Headquarters: West Chester, Ohio, USA
Key Offering: Oriented, Non-Oriented, and Fully Processed Electrical Steels

AK Steel, now operating under Cleveland-Cliffs, is a major North American producer of electrical steels. The company supplies critical materials to the regional automotive, industrial motor, and transformer markets. Its integration into Cleveland-Cliffs has strengthened its raw material security and operational capabilities.

Sustainability Initiatives:

• Development of advanced high-strength and electrical steel combinations for lightweight, efficient EV designs

• Focus on reducing the environmental impact of steelmaking operations in the US

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3️⃣ 8. Taiwan China Steel Corporation (CSC)

Headquarters: Kaohsiung, Taiwan
Key Offering: NGOES for motors and small transformers

China Steel Corporation is the leading integrated steelmaker in Taiwan and a significant player in the Asian electrical steel market. The company primarily focuses on non-grain-oriented electrical steel used in a wide array of motors and generators, catering to the robust electronics and manufacturing industries in the region.

Sustainability Initiatives:

• Investment in upgrading production lines to manufacture higher efficiency steel grades

• Commitment to corporate sustainability goals aligned with Taiwan’s green energy policies

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2️⃣ 9. Stalprodukt S.A.

Headquarters: Bochnia, Poland
Key Offering: Cold-rolled grain-oriented electrical steel (CRGO)

Stalprodukt S.A. is a key European manufacturer specializing in grain-oriented electrical steel, which is essential for the cores of large power and distribution transformers. The company holds a niche but critical position in the European market, supplying specialized products with consistent quality.

Sustainability Initiatives:

• Production of materials that enable significant energy savings in electrical transmission and distribution

• Ongoing process optimizations to enhance manufacturing efficiency and reduce waste

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1️⃣ 10. Voestalpine AG

Headquarters: Linz, Austria
Key Offering: Isovac® NGOES, Stylight® for e-mobility

Voestalpine is a leading technology and capital goods group based in Austria, with a strong segment focused on high-quality electrical steel. The company’s products are known for their precision and are heavily used in the European automotive sector, particularly for premium EVs and high-performance industrial drives.

Sustainability Initiatives:

• Development of “Stylight” grades specifically optimized for the high rotational speeds of EV motors

• Ambitious corporate strategy (greentec steel) to transition to carbon-neutral steel production by 2050

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Electrical Silicon Steel Market – View in Detailed Research Report

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🌍 Outlook: The Future of Electrical Silicon Steel Is Smarter and More Efficient

The electrical silicon steel market is undergoing a transformative phase. While standard grades continue to serve foundational applications, the industry is heavily investing in next-generation materials, advanced production technologies, and sustainable manufacturing practices to meet the demands of a decarbonizing world.

📈 Key Trends Shaping the Market:

• Rapid expansion of EV production driving demand for high-performance NGOES for traction motors

• Global grid modernization projects, especially in Asia and North America, fueling demand for high-grade GOES

• Stringent international energy efficiency regulations (e.g., MEPS) mandating the use of superior electrical steel

• R&D focus on 6.5% silicon steel and amorphous alloys for ultra-low core loss applications

The companies listed above are not only supplying a critical industrial material—they are enabling the global transition to a more efficient and electrified future.

Get Full Report Here:
Electrical Silicon Steel Market – View in Detailed Research Report