Global   Non Grain-oriented Electrical Steel for Electric Vehicle Market   is experiencing robust expansion, currently valued at   USD 1,480 million in 2024   and projected to surge to   USD 3,240 million by 2032 , advancing at a   CAGR of 10.30%   during the forecast period (2025-2032). This remarkable trajectory is fueled by accelerating EV adoption, stringent energy efficiency regulations, and breakthroughs in motor core material science.

Non grain-oriented electrical steel   serves as the backbone for EV traction motors, offering superior magnetic permeability and reduced core losses compared to conventional alternatives. Its isotropic magnetic properties make it particularly valuable for rotating electrical machines, where multidirectional magnetic flux paths are essential. The material's growing importance in sustainable mobility solutions has triggered strategic investments across the supply chain.

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Market Overview & Regional Analysis

Asia-Pacific commands the global market with over   65% revenue share , spearheaded by China's dual role as both the largest producer and consumer. The region's dominance stems from concentrated EV production hubs, favorable government policies, and the presence of integrated steel manufacturers. Japan and South Korea contribute significantly through their advanced material science capabilities and strong automotive OEM partnerships.

Europe demonstrates rapid growth, driven by the EU's   strict CO2 emission targets   and ambitious EV adoption timelines. North America benefits from technological leadership in high-performance EV motors and substantial R&D investments in material optimization. Emerging markets in Latin America and Southeast Asia are gradually developing domestic capabilities to reduce reliance on imports.

Key Market Drivers and Opportunities

The market's expansion is propelled by multiple factors: the global transition to electric mobility, which is expected to see   EVs constitute 30% of new car sales by 2030 ; continuous improvements in steel grades achieving   core loss reductions up to 20%   versus previous generations; and the proliferation of high-torque motor designs requiring specialized magnetic materials.

Notable opportunities exist in the development of   ultra-thin gauges below 0.25mm   for high-frequency applications, alloy innovations incorporating silicon and aluminum for enhanced resistivity, and the integration of digital twinning technologies for customized steel solutions. The burgeoning market for commercial EVs and hybrid industrial vehicles presents another promising frontier for material suppliers.

Challenges & Restraints

The industry faces several headwinds: volatile raw material costs, particularly for iron ore and specialty alloys; stringent environmental regulations governing steel production processes; and intense competition from alternative technologies like soft magnetic composites and advanced electrical steels with specific grain orientations.

Supply chain complexities, including lengthy qualification cycles with automotive OEMs and the capital-intensive nature of steel production upgrades, pose additional barriers to market entry. Geopolitical tensions affecting rare earth element supplies for specialized coatings further complicate the landscape.

Market Segmentation by Type

• Medium and Low Grade
• High Grade

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Market Segmentation by Application

• Battery Electric Vehicle
• Hybrid Electric Vehicle

Market Segmentation and Key Players

• ThyssenKrupp
• Shougang
• Voestalpine
• TATA Steel
• ArcelorMittal
• CSC
• TISCO
• Posco
• Nippon Steel
• Baowu
• Ansteel
• Benxi Steel
• JFE Steel
• AK Steel
• NLMK Group

Report Scope

This report delivers a comprehensive evaluation of the global Non Grain-oriented Electrical Steel for Electric Vehicle market from 2024 through 2032. It provides detailed segmentation and analysis across multiple dimensions:

• Quantitative market sizing and growth projections   by volume and value
• Technology trend assessment   across material grades and processing methods
• Strategic profiling   of leading and emerging market participants
• Value chain analysis   from raw materials to end-use applications

The research methodology incorporates:

• Primary interviews with steel producers, component manufacturers, and automotive OEMs
• Plant-level capacity and utilization rate tracking
• Supplier qualification process assessment
• Pricing trend analysis by grade and region
• Production cost benchmarking

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About 24chemicalresearch

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• Real-time price monitoring
• Techno-economic feasibility studies

With a dedicated team of researchers possessing over a decade of experience, we focus on delivering actionable, timely, and high-quality reports to help clients achieve their strategic goals. Our mission is to be the most trusted resource for market insights in the chemical and materials industries.

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