The Non-Grain Oriented Electrical Steel Market size was USD 17.91 billion in 2023 and is expected to Reach USD 27.92 billion by 2032 and grow at a CAGR of 5.06% over the forecast period of 2024-2032.
The Non-Grain Oriented (NGO) Electrical Steel Market is driven by increasing demand for energy-efficient transformers, electric motors, and automotive applications. NGO electrical steel, known for its uniform magnetic properties and high permeability, plays a crucial role in power distribution, industrial machinery, and electric vehicle (EV) motors. As industries prioritize sustainability and energy optimization, the adoption of high-performance electrical steel solutions is expanding worldwide.
Key Players
- Tata Steel
- Nucor Corporation
- Nippon Steel Corporation
- ThyssenKrupp Steel Europe
- Arcelor Mittal
- NLMK
- POSCO
- Shougang Group
- Benxi Steel Group Co Ltd
- Baosteel Group Co
Emerging Trends and Future Scope
The NGO electrical steel market is evolving with the rapid growth of electrification and renewable energy solutions. The electric vehicle (EV) industry is a key driver, as high-efficiency NGO electrical steel is essential for EV motors, charging stations, and battery storage systems. Additionally, the shift toward smart grids and renewable energy infrastructure is increasing the demand for NGO steel in transformers and wind turbine generators.
Manufacturers are also focusing on advanced coatings and high-performance NGO steel grades to reduce core losses and enhance energy efficiency. With governments worldwide implementing energy efficiency regulations, the market is seeing a surge in research and development for ultra-thin, low-loss electrical steel. The expansion of hydrogen-based steel production further supports sustainability goals, reducing the carbon footprint of NGO steel manufacturing.
Key Market Points
Growing demand from the electric vehicle (EV) and renewable energy sectors
Increasing use in power transformers, generators, and industrial motors
Advancements in ultra-thin and high-performance NGO electrical steel
Government policies promoting energy-efficient materials in electrical systems
Rise in sustainable steel production to reduce environmental impact
Conclusion
The Non-Grain Oriented Electrical Steel Market is set for steady expansion, driven by electrification trends, energy efficiency initiatives, and sustainability efforts. With rising demand from EVs, smart grids, and renewable power projects, manufacturers investing in high-performance and eco-friendly NGO steel solutions will gain a competitive edge. As industries transition toward low-carbon, high-efficiency technologies, NGO electrical steel will remain a critical material shaping the future of power systems and mobility solutions.
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