Top 10 Companies in the Europe Electrical Steels Market (2026): Market Leaders Powering Energy Efficiency

MARKET INSIGHTS

Europe electrical steels market size was valued at USD 1.82 billion in 2024 and is projected to reach USD 2.61 billion by 2034, growing at a CAGR of 4.7% during the forecast period (2025-2034).

Electrical steels, also known as silicon steels, are specialized steel alloys designed to exhibit specific magnetic properties that minimize energy loss in electrical applications. These materials are primarily categorized into grain-oriented electrical steel (GOES) and non-oriented electrical steel (NOES), each optimized for different electromagnetic performance requirements. GOES exhibits superior magnetic properties in the rolling direction, making it ideal for transformers, while NOES provides isotropic magnetic characteristics suited for rotating machines like motors and generators.

The market growth is being driven by increasing investments in renewable energy infrastructure and the expanding electric vehicle (EV) sector across Europe. Germany currently holds the largest market share at approximately 28%, followed by France and the UK, as these countries accelerate their energy transition strategies. Major players such as thyssenkrupp Electrical Steel and Voestalpine are expanding production capacities to meet rising demand, particularly for high‑efficiency grades that comply with EU energy efficiency directives.

Europe Electrical Steels Market – View in Detailed Research Report

TOP 10 Companies in the Europe Electrical Steels Market

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🔟 1. thyssenkrupp Electrical Steel

Headquarters: Duisburg, Germany
Key Offering: Grain‑oriented and non‑oriented electrical steels for transformers and motors

thyssenkrupp Electrical Steel has positioned itself as a leading supplier of high‑performance silicon steels, leveraging its integrated production chain and close ties with automotive and energy sector clients. The company’s focus on precision annealing and advanced texture control has enabled it to deliver materials that reduce core losses by up to 30% in power equipment.

Sustainability Initiatives:

• Investing in low‑energy manufacturing processes to cut CO₂ emissions
• Collaborating with utilities on smart‑grid transformer upgrades
• Targeting net‑zero carbon emissions across the supply chain by 2040

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9️⃣ 2. Voestalpine AG

Headquarters: Linz, Austria
Key Offering: High‑efficiency grain‑oriented electrical steels for renewable energy infrastructure

Voestalpine’s advanced annealing technology, combined with a vertically integrated production network, has allowed the company to secure contracts with major wind and solar developers. Its focus on reducing core losses in transformers aligns with the EU’s efficiency targets for power distribution.

Sustainability Initiatives:

• Implementing circular steel concepts to reuse scrap efficiently
• Partnering with research institutes on next‑generation alloy development
• Reducing energy consumption in rolling mills by 15% over the next five years

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8️⃣ 3. ArcelorMittal

Headquarters: Luxembourg City, Luxembourg
Key Offering: Bulk production of grain‑oriented and non‑oriented electrical steels for industrial applications

ArcelorMittal’s extensive production footprint across Europe enables it to meet the diverse demands of the energy and automotive sectors. The company’s recent expansion of its Austrian and Belgian plants focuses on high‑grade grades tailored for electric motors.

Sustainability Initiatives:

• Adopting renewable energy sources for steel mills
• Developing low‑silicon alloy alternatives to reduce environmental impact
• Supporting the EU’s circular economy strategy through steel recycling programs

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7️⃣ 4. CromSteel Industries

Headquarters: Rotterdam, Netherlands
Key Offering: Customised electrical steel solutions for power electronics and high‑frequency applications

CromSteel’s niche focus on thin‑gauge electrical steels has positioned it as a preferred partner for manufacturers of high‑frequency transformers and power converters, where reduced core losses translate into higher efficiency.

Sustainability Initiatives:

• Optimising the thickness of steel sheets to minimise material waste
• Collaborating with EU research programmes on magnetic material innovation
• Targeting a 10% reduction in energy consumption per ton of production by 2030

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6️⃣ 5. JFE Steel Corporation

Headquarters: Tokyo, Japan
Key Offering: High‑permeability grain‑oriented electrical steels for renewable energy and industrial generators

JFE Steel’s advanced texture‑control processes allow it to produce steels with exceptional magnetic performance, making it a sought‑after supplier for offshore wind farms and high‑voltage grid components in Europe.

Sustainability Initiatives:

• Deploying hydrogen‑based steelmaking technologies to reduce CO₂ emissions
• Investing in digital twins for process optimisation
• Engaging in joint ventures to promote sustainable steel production across Asia and Europe

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5️⃣ 6. AK Steel

Headquarters: Cleveland, USA
Key Offering: High‑grade electrical steels for industrial machinery and automotive motors

AK Steel’s focus on material science has enabled it to supply specialised grades that support the performance requirements of electric vehicles and high‑efficiency industrial equipment.

Sustainability Initiatives:

• Reducing the carbon intensity of its production by 20% through process optimisation
• Expanding its recycling network for scrap silicon steel
• Partnering with automotive OEMs on low‑emission motor solutions

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4️⃣ 7. NLMK Group

Headquarters: Moscow, Russia
Key Offering: Ultra‑thin non‑oriented electrical steels for high‑speed motor applications

NLMK Group’s recent investment in ultra‑thin grades has opened new market segments in electric vehicles and aerospace power electronics, where weight reduction is critical.

Sustainability Initiatives:

• Implementing energy‑efficient rolling mills across its plants
• Developing closed‑loop recycling for silicon steel scrap
• Collaborating with European partners on joint research projects

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3️⃣ 8. POSCO

Headquarters: Seoul, South Korea
Key Offering: High‑permeability grain‑oriented electrical steels for renewable energy and grid infrastructure

POSCO’s focus on texture control and advanced annealing has positioned it as a key supplier for offshore wind and grid‑upgrade projects across Europe.

Sustainability Initiatives:

• Integrating renewable energy into its steelmaking processes
• Reducing CO₂ emissions by 30% through hydrogen adoption
• Expanding joint ventures to support sustainable steel supply chains

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2️⃣ 9. Tata Steel Europe

Headquarters: London, UK
Key Offering: NO20 non‑oriented electrical steels for transformers and motors in the UK market

Tata Steel Europe’s strong presence in the UK has enabled it to capture a growing share of the transformer market, driven by national grid upgrades and renewable projects.

Sustainability Initiatives:

• Implementing low‑energy rolling processes
• Expanding the use of recycled steel in its production
• Collaborating with UK utilities on smart‑grid solutions

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1️⃣ 10. Dongbu Steel

Headquarters: Seoul, South Korea
Key Offering: High‑quality grain‑oriented electrical steels for renewable energy and industrial applications

Dongbu Steel’s focus on quality control and precision annealing has made it a preferred supplier for high‑efficiency transformers in the European market.

Sustainability Initiatives:

• Reducing energy consumption in its manufacturing plants by 12%
• Expanding its recycling programmes for silicon steel scrap
• Partnering with European research institutions on material innovation

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OUTLOOK: The Future of Europe Electrical Steels Market

The European push toward decarbonised power systems and electrified transport continues to shape the demand for specialised magnetic materials. As wind and solar capacity expands, the need for high‑efficiency transformers grows, while the rapid electrification of the automotive sector increases the appetite for low‑loss non‑oriented steels. Companies that can deliver materials with superior magnetic performance at competitive costs are likely to capture a larger share of the market.

KEY FUTURE TRENDS

• Adoption of ultra‑thin electrical steels for high‑frequency applications, offering weight reduction and improved efficiency.
• Integration of digital process control and AI in steel production to optimise magnetic properties and reduce energy use.
• Expansion of circular economy initiatives, focusing on efficient recycling of silicon steel scrap.
• Increased collaboration between steel manufacturers and automotive OEMs to develop magnet‑free motor concepts that reduce reliance on rare earth elements.

FREQUENTLY ASKED QUESTIONS

What is the current market size of Europe Electrical Steels Market?

• Europe Electrical Steels Market was valued at USD 1.82 billion in 2024 and is projected to reach USD 2.61 billion by 2034, growing at a CAGR of 4.7% during 2025-2034.

Which key companies operate in Europe Electrical Steels Market?

• Key players include thyssenkrupp Electrical Steel, Voestalpine, ArcelorMittal, NLMK Group, Tata Steel Europe, JFE Steel Corporation, AK Steel, POSCO, CromSteel Industries, and Dongbu Steel.

What are the key growth drivers?

• Growing demand for energy‑efficient transformers and motors, investments in renewable energy infrastructure, and expansion of the electric vehicle sector.

Which country dominates the market?

• Germany holds the largest market share, followed by France and the United Kingdom.

What are the emerging trends?

• Development of high‑grade electrical steels, integration of smart manufacturing, and emphasis on sustainable production methods.