Non-Grain Oriented Electrical Steel Market Revenue, Growth Trends, and Forecast 2034

Non-grain oriented electrical steel (NGOES) is widely used in rotating electrical equipment such as motors, generators, and transformers. Its uniform magnetic properties in all directions make it highly suitable for applications requiring efficiency and performance. The market continues to gain momentum as industries focus on energy conservation and sustainable technologies. The demand for non-grain oriented electrical steel is increasing due to the rapid expansion of industries such as automotive, energy, and manufacturing. Rising electrification trends, especially in developing economies, are contributing significantly to market growth. Additionally, the shift toward electric mobility and renewable energy integration is boosting the demand for high-performance electrical steel.

The global Non-Grain Oriented Electrical Steel Market growth in 2026 is witnessing steady expansion driven by increasing electricity demand, rapid industrialization, and the growing need for energy-efficient solutions. According to Fortune Business Insights, the global non-grain oriented electrical steel market size was valued at USD 18.95 billion in 2025 and is projected to grow from USD 19.78 billion in 2026 to USD 29.65 billion by 2034, exhibiting a CAGR of 5.0% during the forecast period.

Asia Pacific dominated the non-grain oriented electrical steel market with a market share of 45.90% in 2025. The region’s strong industrial base, growing infrastructure development, and increasing investments in power generation are key factors driving this dominance.

Furthermore, the U.S. market is expected to grow significantly, reaching an estimated value of USD 5.46 billion by 2032, supported by increasing electricity consumption, modernization of grid infrastructure, and technological advancements.

Market Drivers

One of the primary drivers of the non-grain oriented electrical steel market is the rising global demand for electricity. Rapid urbanization and industrialization have significantly increased energy consumption, creating the need for efficient electrical components.

The growing adoption of electric vehicles (EVs) is another major factor fueling market growth. NGOES plays a crucial role in improving motor efficiency, making it a preferred material in EV manufacturing. Governments worldwide are also promoting clean energy initiatives, further supporting the demand for electrical steel.

Additionally, advancements in manufacturing technologies have enhanced the quality and performance of non-grain oriented electrical steel, making it more suitable for high-efficiency applications. Increasing investments in renewable energy projects such as wind and solar power are also contributing to market expansion.

Market Restraints

Despite strong growth prospects, the market faces certain challenges. Fluctuations in raw material prices, particularly iron ore and alloying elements, can impact production costs and profitability. Additionally, the complex manufacturing process of NGOES requires significant capital investment, which may act as a barrier for new entrants.

Environmental regulations related to steel production can also pose challenges for manufacturers. Compliance with stringent emission standards may increase operational costs and limit production capacity in certain regions.

Market Report Coverage

The report provides a comprehensive analysis of the non-grain oriented electrical steel market, covering key aspects such as market size, growth trends, competitive landscape, and regional insights. It offers detailed information on market dynamics, including drivers, restraints, opportunities, and challenges.

The study also includes an in-depth analysis of various market segments, helping stakeholders understand the evolving market structure. Additionally, the report highlights recent developments, strategic initiatives, and technological advancements shaping the industry.

Market Competitive Landscape

The global non-grain oriented electrical steel market is highly competitive, with several leading players focusing on expanding their production capacity and enhancing product quality. Companies are investing in research and development to introduce innovative and energy-efficient solutions.

Strategic collaborations, mergers, and acquisitions are common strategies adopted by key players to strengthen their market position. The competition is further intensified by the increasing demand for sustainable and high-performance materials.

Top Companies in the Market

• Benxi Steel Group Co., Ltd (China)

• CSC Steel Sdn. Bhd. (Malaysia)

• Tata Steel (India)

• Nucor Corporation (U.S.)

• NLMK (Russia)

• ArcelorMittal S.A. (Luxembourg)

• Shougang Group (China)

• thyssenkrupp Steel (Germany)

• Baosteel Group Corporation (China)

• POSCO (South Korea)

• NIPPON STEEL CORPORATION (Japan)

• Voestalpine Group (Austria)

• Yieh Corporation (Taiwan)

Market Segments

The non-grain oriented electrical steel market is segmented based on type, application, and end-user industries.

By Thickness (0.35 mm, 0.5 mm, 0.65 mm, and Others)

By Type (Semi-processed and Fully Processed)

By Application (Household Appliances, AC Motor, Power Generation, and Others)

Explore the full research report with detailed insights and TOC: https://www.fortunebusinessinsights.com/non-grain-oriented-electrical-steel-market-107330 

Market Regional Insights

Asia Pacific holds the largest share of the global market, driven by rapid industrialization, urbanization, and infrastructure development. Countries such as China, India, and Japan are major contributors to regional growth.

North America is experiencing steady growth due to increasing investments in renewable energy and grid modernization. The presence of established manufacturers and technological advancements further supports market expansion in this region.

Europe is also a significant market, with strong emphasis on sustainability and energy efficiency. Government initiatives promoting green energy and carbon reduction are driving demand for high-quality electrical steel.

Future Market Scope

The future of the non-grain oriented electrical steel market looks promising, with continuous advancements in technology and increasing focus on sustainability. The growing adoption of electric vehicles, renewable energy systems, and smart grid technologies is expected to create significant opportunities for market players.

Manufacturers are likely to focus on developing eco-friendly and high-performance products to meet evolving industry requirements. Innovations in material science and production processes will further enhance the efficiency and reliability of electrical steel.

As global energy demand continues to rise, the importance of efficient electrical components will increase, driving long-term market growth. Strategic investments and expansion initiatives by key players will play a crucial role in shaping the future landscape of the market.

Recent Industry Developments

January 2024: POSCO completed the construction of the new electrical sheet plant at Gawangyang. The newly constructed plant has the capacity to produce high-efficiency, environment-friendly non-grain oriented electrical steel sheets. Thus, the company has entered into the competition of green products to achieve net zero carbon emissions by 2050.

March 2023: ArcelorMittal S.A. invested USD 317.90 million to establish the production plant for electrical steel at the Mardyck site located in northern France. The purpose of the investment is to increase production capacity to maximize revenue.

Conclusion

The non-grain oriented electrical steel market is set for steady growth, supported by increasing electricity demand, rising adoption of electric vehicles, and ongoing infrastructure development. With strong regional performance and continuous innovation, the market is expected to remain a critical component of the global energy and industrial ecosystem.

As industries move toward energy efficiency and sustainability, non-grain oriented electrical steel will play a vital role in enhancing performance and reducing energy losses. The market presents significant opportunities for manufacturers, investors, and stakeholders aiming to capitalize on future growth trends.

Contact us:

Fortune Business Insights™ Pvt.Phone: USA: +1 833 909 2966 (Toll-Free),United Kingdom: +44 808 502 0280 (Toll-Free),APAC: +91 744 740 1245Email: sales@fortunebusinessinsights.com