North America Electrical Steel Market Projected to Reach USD 7.51 Billion by 2035
Dublin, Sept. 18, 2026 (GLOBE NEWSWIRE) -- "North America Electrical Steel Market: Product; Application; Region - Market Size, Industry Dynamics, Opportunity Analysis and Forecast for 2026-2035" has been added to ResearchAndMarkets.com's offering.
The North America electrical steel market is forecast to increase from approximately USD 4.23 billion in 2025 to USD 7.51 billion by 2035, representing a compound annual growth rate of 6.50% during the forecast period. Market expansion is being supported by automotive electrification, investment in power infrastructure and rising demand for efficient electrical equipment across industrial applications.
Electric vehicle manufacturing remains one of the strongest growth drivers. Automakers and suppliers are increasing their requirements for non-grain-oriented electrical steel used in traction motors and related vehicle systems. As hybrid and electric vehicle production scales across the United States, Canada and Mexico, demand is expected to rise for advanced materials that improve motor efficiency, performance and reliability.
The regional transition toward renewable energy is also strengthening the North America electrical steel market outlook. Expanding wind and solar generation requires substantial investment in transformers, transmission networks and grid integration systems. This trend is increasing demand for high-grade grain-oriented electrical steel, particularly in transformer applications where energy-loss reduction is a key operational priority.
Competitive Market Landscape
The North American market maintains an oligopolistic structure, with domestic production concentrated among a limited number of established suppliers. Cleveland-Cliffs Inc. holds a leading position in the regional grain-oriented electrical steel segment, supported by production capabilities and long-standing relationships across power generation and transmission markets.
United States Steel Corporation maintains a prominent position in localized non-grain-oriented electrical steel for electric vehicle applications. Its market presence is reinforced by the continued expansion of regional EV manufacturing and the strategic push to establish more resilient domestic supply chains. At the same time, international suppliers are intensifying competition through pricing, product development and advanced production technologies.
Market Opportunities and Challenges
Renewable energy deployment represents a major opportunity for electrical steel producers. Continued investment in wind and solar capacity is expected to support transformer demand while encouraging utilities to replace aging infrastructure with more efficient equipment. Broader grid modernization initiatives will further increase requirements for electrical steel across transformers, motors, inductors and other electrical systems.
Market growth is nevertheless exposed to volatility in iron ore and ferroalloy prices. Supply chain disruptions, geopolitical developments and interruptions at mining or processing facilities can significantly affect input costs. These fluctuations create challenges for procurement strategies, production planning, contract pricing and margin management, making raw material stability an important consideration for manufacturers.
Electrical Steel Market Segmentation
Grain-oriented electrical steel accounted for approximately 45% of the North America electrical steel market by value. The segment's position is primarily supported by transformer manufacturing and rising investment in electricity transmission infrastructure. By application, the energy and power sector generated more than 53% of total market revenue, reflecting strong demand associated with renewable energy projects, transformer installations and grid upgrades.
The principal product categories include:
Major application categories include:
The regional market covers:
Mexico Emerges as a High-Growth Manufacturing Hub
Mexico is projected to be the fastest-growing country-level market in North America. Investment by Tier-1 automotive stampers, including Eurotranciatura and Tempel Steel, has expanded electrical steel stamping operations in industrial centers such as Monterrey and Queretaro. These investments are strengthening the country's role in the regional production of precision motor laminations and other electrical steel components.
Mexico also serves as an important processing and export hub. Manufacturers import master coils from the United States, Japan and South Korea before converting them into precision components for automotive and industrial customers. Competitive manufacturing capabilities, proximity to major vehicle assembly operations and access to regional export markets are expected to reinforce Mexico's strategic importance.
Leading North America Electrical Steel Market Participants
Over the forecast period, the North America electrical steel market is expected to benefit from the convergence of transportation electrification, renewable power development and transmission infrastructure upgrades. Producers capable of delivering specialized, high-efficiency electrical steel products while maintaining stable regional supply chains will be well positioned to capture emerging opportunities through 2035.
Key Topics Covered:
Chapter 1. Executive Summary: North America Electrical Steel Market
Chapter 2. Research Methodology & Research Framework
2.1. Research Objective
2.2. Product Overview
2.3. Market Segmentation
2.4. Qualitative Research
2.4.1. Primary & Secondary Sources
2.5. Quantitative Research
2.5.1. Primary & Secondary Sources
2.6. Breakdown of Primary Research Respondents, By Region
2.7. Assumption for Study
2.8. Market Size Estimation
2.9. Data Triangulation
Chapter 3. North America Electrical Steel Market Overview
3.1. Industry Value Chain Analysis
3.1.1. Raw Material Suppliers (Iron Ore, Silicon, Alloys)
3.1.2. Electrical Steel Manufacturers & Processors
3.1.3. Distributors & Service Providers
3.1.4. End-Use Industries
3.2. Industry Outlook
3.2.1. Technological Advancements in Electrical Steel Production
3.2.2. Regulatory Standards & Energy Efficiency Compliance
3.2.3. Demand Trends Across Electrical & Power Industries
3.2.4. Key Buyers, Suppliers & Distribution Networks
3.3. PESTLE Analysis
3.4. Porter's Five Forces Analysis
3.4.1. Bargaining Power of Suppliers
3.4.2. Bargaining Power of Buyers
3.4.3. Threat of Substitutes
3.4.4. Threat of New Entrants
3.4.5. Degree of Competition
3.5. Market Growth and Outlook
3.5.1. Market Revenue Estimates and Forecast (US$ Mn), 2020-2035
3.5.2. Market Volume Estimates and Forecast (Metric Tons), 2020-2035
3.5.3. Price Trend Analysis
Chapter 4. North America Electrical Steel Market Analysis
4.1. Competition Dashboard
4.1.1. Market Concentration Rate
4.1.2. Company Market Share Analysis (Value %), 2025
4.1.3. Competitor Mapping & Benchmarking
Chapter 5. North America Electrical Steel Market Analysis
5.1. Market Dynamics and Trends
5.1.1. Growth Drivers
5.1.2. Restraints
5.1.3. Opportunity
5.1.4. Key Trends
5.2. Market Size and Forecast, 2020-2035 (US$ Mn & Metric Tons & Units)
5.2.1. By Product
5.2.1.1. Key Insights
5.2.1.1.1. Non-Grain Oriented Electrical Steel (NGOES)
5.2.1.1.2. Grain Oriented Electrical Steel (GOES)
5.2.2. By Application
5.2.2.1. Key Insights
5.2.2.1.1. Transformers
5.2.2.1.2. Motors
5.2.2.1.3. Inductors
5.2.2.1.4. Others
5.2.3. By Region
5.2.3.1. The U.S.
5.2.3.2. Canada
5.2.3.3. Mexico
Chapter 6. The U.S. Market Analysis
6.1. Market Dynamics and Trends
6.1.1. Growth Drivers
6.1.2. Restraints
6.1.3. Opportunity
6.1.4. Key Trends
6.2. Market Size and Forecast, 2020-2035 (US$ Mn & Metric Tons & Units)
6.2.1. Key Insights
6.2.1.1. By Product
6.2.1.2. By Application
Chapter 7. Canada Market Analysis
7.1. Market Dynamics and Trends
7.1.1. Growth Drivers
7.1.2. Restraints
7.1.3. Opportunity
7.1.4. Key Trends
7.2. Market Size and Forecast, 2020-2035 (US$ Mn & Metric Tons & Units)
7.2.1. Key Insights
7.2.1.1. By Product
7.2.1.2. By Application
Chapter 8. Mexico Market Analysis
8.1. Market Dynamics and Trends
8.1.1. Growth Drivers
8.1.2. Restraints
8.1.3. Opportunity
8.1.4. Key Trends
8.2. Market Size and Forecast, 2020-2035 (US$ Mn & Metric Tons & Units)
8.2.1. Key Insights
8.2.1.1. By Product
8.2.1.2. By Application
Chapter 9. Company Profiles (Company Overview, Financial Matrix, Key Product landscape, Key Personnel, Key Competitors, Contact Address, and Business Strategy Outlook)
9.1. ArcelorMittal
9.2. ATI
9.3. Cleveland-Cliffs Inc.
9.4. LIBERTY Steel Group
9.5. Steel Dynamics
9.6. Sumitomo Canada Limited
9.7. Union Electric Steel Corporation
9.8. United States Steel Corporation
9.9. Other Prominent Players
Chapter 10. Annexure
10.1. List of Secondary Sources
10.2. Key Country Markets - Macro Economic Outlook/Indicators
A selection of companies mentioned in this report includes, but is not limited to:
For more information about this report visit https://www.researchandmarkets.com/r/rmcmtr
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