Global Silicon Steel
Market Report
2025
The global Silicon Steel market size is USD 12514.2 million in 2024 and will expand at a compound annual growth rate (CAGR) of 6.20% from 2024 to 2031.
The base year for the calculation is 2024 and 2021 to 2024 will be historical period. The year 2025 will be estimated one while the forecasted data will be from year 2025 to 2033. When we deliver the report that time we updated report data till the purchase date.
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According to Cognitive Market Research, the global Silicon Steel market size is USD 12514.2 million in 2024 and will expand at a compound annual growth rate (CAGR) of 6.20% from 2024 to 2031.
2019 | 2024 | 2025 | 2032 | 2033 | CAGR | |
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Global Silicon Steel Market Sales Revenue | 121212 | $ 12514.2 Million | 121212 | 121212 | 121212 | 6.2% |
North America Silicon Steel Market Sales Revenue | 121212 | $ 5005.68 Million | 121212 | 121212 | 121212 | 4.4% |
Europe Silicon Steel Market Sales Revenue | 121212 | $ 3754.26 Million | 121212 | 121212 | 121212 | 4.7% |
Asia Pacific Silicon Steel Market Sales Revenue | 121212 | $ 2878.27 Million | 121212 | 121212 | 121212 | 8.2% |
South America Silicon Steel Market Sales Revenue | 121212 | $ 625.71 Million | 121212 | 121212 | 121212 | 5.6% |
Middle East and Africa Silicon Steel Market Sales Revenue | 121212 | $ 250.28 Million | 121212 | 121212 | 121212 | 5.9% |
Base Year | 2024 |
Historical Data Time Period | 2021-2024 |
Forecast Period | 2025-2033 |
Market Split by Type |
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Market Split by End Use Industry |
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Market Split by Application |
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List of Competitors |
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Regional Analysis |
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Country Analysis |
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Silicon Steel Market is Segmented as below. Particular segment of your interest can be provided without any additional cost. Download the Sample Pages!
Due to its distinct magnetic properties, silicon steel—also referred to as electrical or transformer steel—is a specific steel alloy designed for electrical applications. This alloy, mostly made of iron and silicon, has a high magnetic permeability and low core loss, making it perfect for use in the production of electrical transformers, motors, and generators. Increased electrical resistivity and less energy loss from hysteresis and eddy currents are two benefits of the silicon concentration. Energy conservation is aided by the effective transmission and distribution of electrical power, which is made possible by silicon steel. The growth of the infrastructure for power generation and distribution and the rising need for energy-efficient electrical equipment are the main drivers of this industry. Silicon steel is becoming an increasingly important material in the changing energy environment as a result of continuous technological developments in electrical steel manufacturing procedures that further improve its magnetic characteristics.
Silicon steel demand is driven by growing demand from important end-use industries. Urbanization and industrial growth drive the need for efficient transformers and motors, crucial uses for silicon steel in power generation and distribution. The automotive sector requires High-performance electric motors, especially with the changeover to electric vehicles. This creates a considerable need for grain-oriented silicon steel (GO silicon steel) with outstanding magnetic characteristics. The growing use of solar and wind energy in the renewable energy industry depends on effective grid integration, which takes advantage of silicon steel's characteristics in transformers and converters. Demand is also increased by consumer electronics, which use silicon steel in parts like transformers and inductors due to their improvements in efficiency and compactness. The market expansion corresponds with the changing energy scenario and technical breakthroughs in several sectors.
The market for silicon steel is witnessing an increasing emphasis on energy efficiency due to strict regulations and customer inclinations toward energy-efficient technologies. Because of its exceptional magnetic characteristics, silicon steel is often used in transformers and motors to reduce energy losses. Governments everywhere emphasize energy conservation, so energy efficiency measures are crucial in encouraging silicon steel to be used in various applications. This is in line with more general sustainability objectives, as the special properties of the material help electrical components function at their best. As industries and consumers prioritize energy-efficient appliances and devices more and more, the market has responded to these trends with a collective effort towards environmental responsibility, positioning silicon steel as a key material in advancing sustainable and environmentally conscious practices.
Due to environmental issues surrounding the energy-intensive silicon steel production process, manufacturers must prioritize sustainability. There are concerns regarding the environmental effects of silicon steel manufacturing due to the substantial energy requirements during production. Manufacturers must engage in sustainable practices to ease these worries and comply with ever-tougher environmental requirements. This entails investigating energy-saving production techniques, making the most use of available resources, and reducing waste. In addition to addressing environmental effects, sustainable initiatives put manufacturers in a position to satisfy the changing demands of regulators and environmentally sensitive consumers. The industry's dedication to environmental responsibility becomes essential to guaranteeing silicon steel's long-term survival while encouraging a more environmentally friendly and sustainable attitude within the market.
The COVID-19 epidemic had a significant effect on the silicon steel market. The production and distribution of silicon steel were impacted by temporary closures in several industries, disruptions in the global supply chain, and decreased manufacturing activity. The automotive and electrical industries, which are significant users of silicon steel, encountered difficulties due to a drop in demand during lockdowns. But as business as usual resumed and the need for energy-saving devices continued, the silicon steel market gradually rebounded. By implementing digital technologies and improved safety measures, the industry adjusted to the new normal. The long-term picture is still bright despite early hiccups because of growing investments in clean energy, electric cars, and smart grids—all of which depend on silicon steel for effective and long-lasting operation.
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Strategic activities including collaborations, mergers, and product improvements are implemented by key parties. In order to provide innovative reagents and maintain a competitive edge, businesses prioritize R&D. Encouraging an atmosphere where agility and innovation distinguish industry leaders is made possible by robust distribution networks and respect to quality standards
Top Companies Market Share in Silicon Steel Industry: (In no particular order of Rank)
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According to Cognitive Market Research, North America dominated the market in 2024 and accounted for around 40% of the global revenue. The power-generating and automotive industries and renewable energy projects drive the demand for efficient transformers and motors. Silicon steel plays a critical role in these applications. The increasing demand for materials like silicon steel is partly attributed to the region's focus on energy efficiency. Tight laws and consumer inclinations toward energy-efficient technology support North America's status as a developing silicon steel application market.
The Europe region is witnessing an increase in the sales of reagents. The strict laws in the area and consumer desires for energy-efficient appliances and gadgets drive up demand for silicon steel. Because of silicon steel's magnetic qualities, sectors including power generation, automotive, and renewable energy are embracing it, as well as the area's dedication to efficiency and environmental responsibility. The market's growth in Europe indicates Silicon Steel's increasing significance in promoting sustainable practices.
The current report Scope analyzes Silicon Steel Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com
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As per the current market study, out of xxxx Million USD global market revenue 2025, North America market holds xx% of the market share. The North America Silicon Steel industry grew from xxxx Million USD in 2021 to xxxx Million USD in 2025 and will record xx% growth. In coming future this industry will reach xxxx Million by 2033 with a xx% CAGR.
According to Cognitive Market Research, the global Silicon Steel market size was estimated at USD 12514.2 Million out of which North America held the major market of more than 40% of the global revenue with a market size of USD 5005.68 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.4% from 2024 to 2031. The market for silicon steel in North America is expanding rapidly, propelled by rising demand from important industries. Notably, the material's critical function in high-performance electric motors and efficient transformers makes the power generation and automotive industries key segments driving this expansion. The need for silicon steel is further increased by the region's emphasis on energy efficiency. Silicon Steel applications are becoming more and more popular due to strict restrictions and consumer demands for energy-saving technologies. All things considered, the North American silicon steel market is a dynamic response to changing industry demands, establishing itself as a key player in the advancement of energy-efficient and sustainable practices in a variety of industries
As per the current market study, out of xxxx Million USD global market revenue 2025, Europe market holds xx% of the market share. The Europe Silicon Steel industry grew from xxxx Million USD in 2021 to xxxx Million USD in 2025 and will record xx% growth. In coming future this industry will reach xxxx Million by 2033 with a xx% CAGR.
According to Cognitive Market Research, with a market value of USD 12514.2 million in 2024 and projected to expand at a compound annual growth rate (CAGR) of 4.7% from 2024 to 2031. Europe accounted for a share of over 30% of the global market size of USD 3754.26 million. Europe's silicon steel market is expanding rapidly thanks to increased emphasis on sustainable technologies and energy efficiency. The need for silicon steel, particularly in transformers and electric motors, is being driven by important industries such as power generation, the automobile industry, and renewable energy programs. The rising popularity of Silicon Steel applications can be attributed to customer preferences for energy-efficient appliances and devices as well as Europe's strict laws. The region's dedication to promoting energy-efficient practices makes silicon steel an essential component for achieving environmental objectives. In summary, the European silicon steel market demonstrates a responsive approach to market developments, highlighting its commitment to supporting eco-friendly practices and satisfying the ever-expanding need for energy-efficient technologies.
As per the current market study, out of xxxx Million USD global market revenue 2025, Asia Pacific market holds xx% of the market share. The Asia Pacific Silicon Steel industry grew from xxxx Million USD in 2021 to xxxx Million USD in 2025 and will record xx% growth. In coming future this industry will reach xxxx Million by 2033 with a xx% CAGR.
According to Cognitive Market Research, the global Silicon Steel market size was estimated at USD 12514.2 Million out of which Asia Pacific held the market of around 23% of the global revenue with a market size of USD 2878.27 million in 2024 and will grow at a compound annual growth rate (CAGR) of 8.2% from 2024 to 2031. Due to rising demand and economic growth, the silicon steel market in Asia Pacific is expanding significantly. This expansion is primarily being driven by the power generation and automotive industries, as silicon steel is essential to the production of efficient transformers and electric motors. Silicon Steel uses are becoming increasingly important due to the region's fast development and increased emphasis on renewable energy. Asia Pacific's dedication to energy conservation and technical improvements reinforces the region's standing as a major player in the changing energy landscape. In summary, the Asia Pacific silicon steel market is a dynamic response to the economic growth of the region, highlighting the critical role that silicon steel plays in promoting energy-efficient and sustainable practices across a wide range of industrial sectors.
As per the current market study, out of xxxx Million USD global market revenue 2025, South America market holds xx% of the market share. The South America Silicon Steel industry grew from xxxx Million USD in 2021 to xxxx Million USD in 2025 and will record xx% growth. In coming future this industry will reach xxxx Million by 2033 with a xx% CAGR.
According to Cognitive Market Research, the global Silicon Steel market size was estimated at USD 12514.2 Million out of which Latin America market of more than 5% of the global revenue with a market size of USD 625.71 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.6% from 2024 to 2031. Latin America's silicon steel market is expanding significantly due to growing industrialization and a growing need for energy-efficient products. The need for silicon steel in transformers is driven by the region's power generating sector, but the automotive industry's adoption of electric vehicles also helps to expand the market. Because of its strict regulatory frameworks and dedication to sustainable technology, Silicon Steel is being used more often in Latin America to improve energy efficiency. In summary, the Latin American silicon steel market is a dynamic environment that adapts to changing industrial demands and recognizes silicon steel's importance in pushing the power generation and automotive industries toward more environmentally friendly and energy-efficient practices
As per the current market study, out of xxxx Million USD global market revenue 2025, Middle East and Africa market holds xx% of the market share. The Middle East and Africa Silicon Steel industry grew from xxxx Million USD in 2021 to xxxx Million USD in 2025 and will record xx% growth. In coming future this industry will reach xxxx Million by 2033 with a xx% CAGR.
According to Cognitive Market Research, the global Silicon Steel market size was estimated at USD 12514.2 Million out of which Middle East and Africa held the major market of around 2% of the global revenue with a market size of USD 250.28 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.9% from 2024 to 2031. The Middle East and Africa's silicon steel market is expanding significantly due to a mix of industrial growth and an emphasis on energy efficiency. The automobile industry's growing interest in electric vehicles is driving the demand for silicon steel in transformers, with power generation emerging as a key area driving this demand. Silicon Steel is being adopted in a variety of applications thanks to the region's dedication to energy-efficient practices and technical breakthroughs. In summary, the Middle East and Africa market for silicon steel represents a dynamic response to industrial growth, presenting silicon steel as an essential material in the advancement of energy-efficient technologies and in satisfying the changing needs of various industries.
Global Silicon Steel Market Report 2024 Edition talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing Silicon Steel Industry growth. Silicon Steel market has been segmented with the help of its Type, End Use Industry Application, and others. Silicon Steel market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.
According to Cognitive Market Research, Non-grain Oriented held the major market share over the forecast period. There is a growing need for its use in electric motors and power distribution transformers. Because of its isotropic qualities, the non-grain-oriented variant is used for electrical steel sheets in various directions. The market for non-grain-oriented silicon steel is growing as a result of businesses placing a higher priority on sustainability and energy efficiency. This market serves the changing needs of the power generation, automotive, and renewable energy sectors worldwide.
Grain Oriented is the fastest-growing category over the forecast period. Its directed grain structure gives it improved magnetic characteristics, which makes it perfect for reduced core losses and effective energy transmission. The global demand from the power generation and distribution industries is driving growth in the grain-oriented silicon steel market, as there is a growing emphasis on energy efficiency in power systems, especially in the context of renewable energy integration.
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According to Cognitive Market Research, Energy holds a prominent market share. The energy sector significantly accelerates the expanding silicon steel market. Energy efficiency is increased by silicon steel, sometimes referred to as electrical steel, which is a crucial part of transformers and electrical motors. The demand for silicon steel is rising due to the growing emphasis on electrification of various sectors and sustainable energy solutions, influencing the market's expansion in the ever-changing energy landscape.
Automotive is the fastest-growing category over the forecast period. The growing silicon steel market is largely due to the automotive sector. Silicon steel is essential for producing transformers and motors used in efficient electric vehicle components. Silicon Steel plays a crucial role in improving energy efficiency, driving its higher utilization in the automotive sector, and influencing market growth at a time when the demand for electric vehicles and technological breakthroughs in the automotive industry are on the rise.
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According to Cognitive Market Research, Transformer holds a prominent market share. Because silicon steel has special magnetic qualities that lower energy losses and increase efficiency, it is essential to transformer technology. The silicon steel market grows significantly as demand for transformers increases in power production, distribution, and other industrial applications. The material's effectiveness in enhancing transformer performance makes it a crucial element in the changing energy landscape.
Motors is the fastest-growing category over the forecast period. The silicon steel market is expanding due to the growing trend toward electric vehicles and the rising need for energy-efficient motors in various industrial applications. The material's ability to improve electric motor performance and efficiency reinforces its standing as a crucial element in the developing fields of industrial automation and electric mobility.
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Author's Say's, Between 2023 and 2030, The global Silicon Steel market will expand significantly by 6.20% CAGR between 2024 to 2031.
Please note, we have not disclose, all the sources consulted/referred during a market study due to confidentiality and paid service concern. However, rest assured that upon purchasing the service or paid report version, we will release the comprehensive list of sources along with the complete report and we also provide the data support where you can intract with the team of analysts who worked on the report.
Disclaimer:
Type | Grain-oriented, Non-grain-oriented |
End Use Industry | Energy, Automotive, Household Appliances, Manufacturing, Others |
Application | Transformers, Motors, Inductors, Others |
List of Competitors | Benxi Steel Group Co Ltd , CSC Steel Sdn. Bhd., Tata Steel , Nucor Corporation , NLMK , ArcelorMittal S.A, Shougang Group , ThyssenKrupp Steel , Baosteel Group Corporation , POSCO , NIPPON STEEL CORPORATION , Voestalpine Group , Yieh Corporation , Aperam SA, Arnold Magnetic Technologies |
This chapter will help you gain GLOBAL Market Analysis of Silicon Steel. Further deep in this chapter, you will be able to review Global Silicon Steel Market Split by various segments and Geographical Split.
Chapter 1 Global Market Analysis
Global Market has been segmented on the basis 5 major regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
You can purchase only the Executive Summary of Global Market (2019 vs 2024 vs 2031)
Global Market Dynamics, Trends, Drivers, Restraints, Opportunities, Only Pointers will be deliverable
This chapter will help you gain North America Market Analysis of Silicon Steel. Further deep in this chapter, you will be able to review North America Silicon Steel Market Split by various segments and Country Split.
Chapter 2 North America Market Analysis
This chapter will help you gain Europe Market Analysis of Silicon Steel. Further deep in this chapter, you will be able to review Europe Silicon Steel Market Split by various segments and Country Split.
Chapter 3 Europe Market Analysis
This chapter will help you gain Asia Pacific Market Analysis of Silicon Steel. Further deep in this chapter, you will be able to review Asia Pacific Silicon Steel Market Split by various segments and Country Split.
Chapter 4 Asia Pacific Market Analysis
This chapter will help you gain South America Market Analysis of Silicon Steel. Further deep in this chapter, you will be able to review South America Silicon Steel Market Split by various segments and Country Split.
Chapter 5 South America Market Analysis
This chapter will help you gain Middle East and Africa Market Analysis of Silicon Steel. Further deep in this chapter, you will be able to review Middle East and Africa Silicon Steel Market Split by various segments and Country Split.
Chapter 6 Middle East and Africa Market Analysis
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Chapter 7 Top 10 Countries Analysis (Only Available with Corporate User License)
This chapter provides an in-depth analysis of the market share among key competitors of Silicon Steel. The analysis highlights each competitor's position in the market, growth trends, and financial performance, offering insights into competitive dynamics, and emerging players.
Chapter 8 Competitor Analysis (Subject to Data Availability (Private Players))
(Subject to Data Availability (Private Players))
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
This chapter would comprehensively cover market drivers, trends, restraints, opportunities, and various in-depth analyses like industrial chain, PESTEL, Porter’s Five Forces, and ESG, among others. It would also include product life cycle, technological advancements, and patent insights.
Chapter 9 Qualitative Analysis (Subject to Data Availability)
Segmentation Type Analysis 2019 -2031, will provide market size split by Type. This Information is provided at Global Level, Regional Level and Top Countries Level The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 10 Market Split by Type Analysis 2021 - 2033
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Chapter 11 Market Split by End Use Industry Analysis 2021 - 2033
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Chapter 12 Market Split by Application Analysis 2021 - 2033
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global Silicon Steel market
Chapter 13 Research Findings
Here the analyst will summarize the content of entire report and will share his view point on the current industry scenario and how the market is expected to perform in the near future. The points shared by the analyst are based on his/her detailed in-depth understanding of the market during the course of this report study. You will be provided exclusive rights to interact with the concerned analyst for unlimited time pre purchase as well as post purchase of the report.
Why Grain-oriented have a significant impact on Silicon Steel market? |
What are the key factors affecting the Grain-oriented and Non-grain-oriented of Silicon Steel Market? |
What is the CAGR/Growth Rate of Energy during the forecast period? |
By type, which segment accounted for largest share of the global Silicon Steel Market? |
Which region is expected to dominate the global Silicon Steel Market within the forecast period? |
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