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The global grain-oriented electrical steel market is projected to grow from $9.55 billion in 2026 to $15.60 billion by 2035, registering a compound annual growth rate of 5.6%, according to a new industry report.Demand for grain-oriented electrical steel, widely used in transformer cores, is expected to rise as countries modernise power grids, expand renewable-energy capacity and upgrade transmission and distribution infrastructure. Growing investment in efficient transformers and reliable electricity networks is also supporting market expansion.
Transformers represent the largest application segment, accounting for an estimated 48% market share. The energy sector leads end-user demand, while manufacturing, automotive and household-appliance applications provide additional growth opportunities.
Asia-Pacific holds an estimated 52% market share, supported by large-scale production, industrial development and expanding power infrastructure across China, Japan, South Korea and India. Europe and North America are also witnessing demand growth through grid upgrades, electric mobility and energy-efficiency initiatives.Leading steelmakers are investing in premium electrical steel grades designed to reduce core losses and improve transformer efficiency. However, producers must continue addressing advanced manufacturing requirements, quality standards and supply-chain challenges as global competition increases.
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