The Global Grain Oriented Electrical Steel Market was valued at USD 9,327 million in 2023 and is projected to reach USD 13,860.81 million by 2032, growing at a Compound Annual Growth Rate (CAGR) of 4.50% during the forecast period (2023–2032). This growth is being driven by the rising demand for energy-efficient transformers, the expansion of renewable energy infrastructure, and the increasing adoption of high-performance electrical steels in motors and generators across power distribution and industrial sectors.
As the electrical equipment industry evolves toward greater efficiency and sustainability, the focus turns to the leading manufacturers who are pioneering advanced material technologies, optimizing magnetic properties, and supporting the global shift to low-loss electrical systems. In this blog, we profile the Top 10 Companies in the Grain Oriented Electrical Steel Industry—a blend of global steel giants, specialized producers, and innovators enhancing the performance of transformers and electric machinery worldwide.
🔟 1. Baowu Group
Headquarters: Shanghai, China
Key Offering: Conventional and High Magnetic Strength Grain Oriented Electrical Steel (GOES)
Baowu Group stands as one of the world’s largest steel producers, with a significant presence in the grain oriented electrical steel segment. The company supplies high-quality GOES for transformer cores and large generators, emphasizing low core loss and high permeability to meet the needs of power utilities and heavy industry. Their production facilities leverage advanced rolling and annealing processes to deliver materials that reduce energy dissipation in electrical applications.
Technological Advancements:
-
Development of ultra-thin GOES sheets for improved efficiency
-
Investments in silicon content optimization for enhanced magnetic properties
-
Expansion of production capacity to support renewable energy projects
Download FREE Sample Report: Grain Oriented Electrical Steel Market – View in Detailed Research Report
9️⃣ 2. Nippon Steel Corporation
Headquarters: Tokyo, Japan
Key Offering: High-Grade GOES in M-2 to M-6 specifications, Domain-Refined Steels
Nippon Steel is a pioneer in grain oriented electrical steel, renowned for its innovative domain refinement technologies that minimize magnetic losses. The company’s products are widely used in distribution and power transformers, serving major utilities in Asia and beyond. With decades of expertise, Nippon Steel continues to refine production techniques to align with global energy efficiency standards.
Technological Advancements:
-
Advanced laser scribing for domain control in GOES
-
Collaborations with equipment manufacturers for customized steel grades
8️⃣ 3. NLMK Group
Headquarters: Moscow, Russia
Key Offering: Conventional GOES for Transformers and Rectifiers
NLMK is a vertically integrated steel producer with a strong footprint in Europe and Asia, offering reliable grain oriented electrical steels optimized for transformer applications. Their facilities focus on consistent quality and cost-effective manufacturing, making them a preferred supplier for large-scale power infrastructure projects. The company has been expanding its GOES output to meet rising demands from emerging markets.
Technological Advancements:
-
Implementation of high-silicon GOES for reduced eddy current losses
-
Sustainable production practices to lower carbon footprint in steelmaking
7️⃣ 4. Shougang Group
Headquarters: Beijing, China
Key Offering: High Magnetic Strength GOES, Coated Electrical Steels
Shougang is a major Chinese steelmaker with specialized capabilities in grain oriented electrical steel, producing materials essential for efficient energy transmission. Their GOES portfolio includes grades suitable for high-efficiency motors and transformers, supported by robust R&D in crystal orientation control. As China leads in electrical grid modernization, Shougang plays a crucial role in supplying domestic and international markets.
Technological Advancements:
-
Target to increase GOES production by 20% by 2025
-
Development of insulation coatings for better corrosion resistance
Download FREE Sample Report: Grain Oriented Electrical Steel Market – View in Detailed Research Report
6️⃣ 5. AK Steel (Cleveland-Cliffs Inc.)
Headquarters: West Chester, Ohio, USA
Key Offering: TRAN-COR GOES, High-Permeability Grades
AK Steel, now part of Cleveland-Cliffs, is a leading North American producer of grain oriented electrical steel, known for its TRAN-COR brand used in utility transformers and industrial motors. The company excels in delivering low-loss materials that enhance energy efficiency, with a focus on serving the renewable energy and electric vehicle sectors. Their integration of advanced metallurgical processes ensures superior performance in demanding applications.
Technological Advancements:
-
Production of thin-gauge GOES for compact transformer designs
-
Commitment to net-zero operations in steel production
5️⃣ 6. ThyssenKrupp Steel
Headquarters: Essen, Germany
Key Offering: NOE and PowerCore GOES for Power Transformers
ThyssenKrupp is a European powerhouse in electrical steels, providing grain oriented variants that support high-efficiency electrical equipment. Their products are engineered for minimal hysteresis loss, making them ideal for large power transformers and generators. With a strong emphasis on innovation, ThyssenKrupp collaborates with European energy firms to advance sustainable steel solutions.
Technological Advancements:
-
Annual output exceeding 500,000 tons of electrical steel
-
R&D in hydrogen-based steelmaking for greener production
4️⃣ 7. POSCO
Headquarters: Pohang, South Korea
Key Offering: HI-B GOES, Ultra-High Efficiency Steels
POSCO is a global leader in advanced materials, with its HI-B series of grain oriented electrical steel setting benchmarks for magnetic performance. These steels are extensively used in transformers for power grids and renewable installations, benefiting from POSCO’s proprietary grain orientation technology. The company’s strategic expansions in Asia underscore its commitment to the growing electrification market.
Technological Advancements:
-
Innovation in 3% silicon GOES for optimal properties
-
Partnerships for EV motor applications
3️⃣ 8. JFE Steel Corporation
Headquarters: Tokyo, Japan
Key Offering: Super-Oriented GOES, Low-Loss Coatings
JFE Steel specializes in premium grain oriented electrical steels that achieve exceptional efficiency in transformer cores. Their super-oriented grades offer superior directivity in magnetic flux, reducing energy losses significantly. As a key supplier to Japan’s advanced power sector, JFE continues to invest in process improvements to meet international standards for electrical equipment.
Technological Advancements:
-
Domain refinement techniques for M-2 grade performance
-
Sustainable sourcing of raw materials
Download FREE Sample Report: Grain Oriented Electrical Steel Market – View in Detailed Research Report
2️⃣ 9. Stalprodukt S.A.
Headquarters: Bochnia, Poland
Key Offering: Conventional GOES for European Markets
Stalprodukt is a prominent Eastern European producer of grain oriented electrical steel, focusing on cost-effective solutions for transformer and motor manufacturers. Their products comply with stringent EU efficiency directives, supporting the region’s green energy transition. The company’s agile production capabilities allow it to respond quickly to market fluctuations in demand.
Technological Advancements:
-
Expansion into high magnetic strength variants
-
Quality certifications for export to North America
1️⃣ 10. Aperam
Headquarters: Luxembourg City, Luxembourg
Key Offering: Grain-Oriented Steels for Specialty Applications
Aperam excels in specialty electrical steels, including grain oriented types tailored for high-performance transformers and inductors. With operations across Europe and the Americas, the company emphasizes sustainable manufacturing and innovative alloys. Aperam’s GOES supports applications in renewable energy storage and efficient power conversion, positioning it as a forward-thinking leader.
Technological Advancements:
-
Focus on recyclable processes and low-emission production
-
Customized GOES for niche motor designs
Read Full Report: Grain Oriented Electrical Steel Market – View in Detailed Research Report
🌍 Outlook: The Future of Grain Oriented Electrical Steel Is More Efficient and Sustainable
The grain oriented electrical steel market is experiencing steady evolution. While conventional grades remain essential, investments are surging in high magnetic strength materials, advanced coatings, and production innovations to minimize losses and support global electrification efforts.
📈 Key Trends Shaping the Market:
-
Expansion of thin-gauge GOES production in Asia-Pacific and Europe
-
Regulatory mandates for low-loss materials in transformers by 2030
-
Integration with renewable energy systems and EV infrastructure
-
Collaborations between steelmakers and equipment OEMs for optimized designs
Market Trends Shaping Grain Oriented Electrical Steel Efficiency
-
Shift toward high-permeability grades — demand for M-2 and M-3 specifications is rising, driven by needs for compact, high-efficiency transformers in urban grids. Companies like Nippon Steel and POSCO are leading with refined crystal orientations.
-
Sustainable steelmaking processes — adoption of electric arc furnaces and recycled silicon sources to cut emissions, aligning with EU Green Deal and U.S. infrastructure bills. ThyssenKrupp’s hydrogen initiatives exemplify this trend.
-
Domain refinement technologies — laser and mechanical scribing methods enhance magnetic performance, crucial for large generators. JFE Steel’s super-oriented lines are boosting adoption in wind turbine applications.
-
Regional capacity growth in Asia — Baowu and Shougang are ramping up output to meet China’s power sector demands, while exports grow to support Southeast Asia’s industrialization.
-
Customization for EV and renewables — tailored GOES for motor stators and solar inverters, with AK Steel advancing thin sheets for lighter, more efficient electric drivetrains.
Read Full Report: Grain Oriented Electrical Steel Market – View in Detailed Research Report
The companies listed above are not only powering electrical infrastructure—they’re driving the efficient transformation of global energy systems.
Grain oriented electrical steel, often simply called GOES, plays a pivotal role in modern electrical engineering. This specialized alloy, with its precisely controlled grain structure, directs magnetic flux along the rolling direction to minimize energy losses. As the world pushes for smarter grids and sustainable power, the innovations from these top players will be instrumental in achieving higher efficiencies and lower operational costs.
Consider the applications: in transformers, GOES cores reduce no-load losses, which can account for up to 30% of a utility’s energy waste. For motors, it enhances starting torque and overall performance, vital for industrial automation. The market’s segmentation into conventional and high magnetic strength types reflects diverse needs—conventional for standard transformers, while high-strength variants shine in high-frequency or compact designs.
Geographically, Asia-Pacific dominates with over 60% market share, fueled by rapid urbanization and power capacity additions in China and India. Europe follows, emphasizing green technologies, while North America grows steadily through grid modernization. Challenges like raw material volatility and trade barriers persist, but opportunities in renewables—think wind farms requiring robust generators—abound.
Looking deeper, the value chain starts with silicon-iron alloys, moving through hot-rolling, annealing, and coating stages. Key drivers include the International Energy Agency’s efficiency standards and the boom in data centers needing reliable power. Restraints? High production costs and skilled labor shortages, yet the CAGR signals resilience.
For investors, the competitive landscape reveals consolidation trends, with mergers like AK Steel’s acquisition boosting scale. SWOT analyses highlight strengths in Japanese tech prowess and threats from non-oriented alternatives in some motors. Porter’s Five Forces shows moderate supplier power due to silicon scarcity, but buyer leverage in large utilities balances it.
In summary, as electrification accelerates—from EVs to smart cities—these top 10 companies are at the forefront, ensuring grain oriented electrical steel evolves to meet tomorrow’s demands. Their R&D investments, projected to exceed billions by 2025, promise even lower losses and greener production, solidifying GOES as a cornerstone of efficient energy.
Baowu Group’s scale allows it to undercut competitors on price while maintaining quality, serving over 50% of China’s transformer needs. Nippon Steel’s domain-refined steels cut losses by 10-15%, a game-changer for long-distance transmission. NLMK’s European plants ensure just-in-time delivery, reducing inventory costs for OEMs.
Shougang’s focus on coatings prevents interlaminar shorts, extending equipment life. AK Steel’s North American edge lies in regulatory compliance for U.S. utilities. ThyssenKrupp integrates GOES with stainless for hybrid applications. POSCO’s HI-B reduces transformer size by 20%, ideal for space-constrained installs.
JFE’s innovations target 0.23mm thicknesses for future high-speed motors. Stalprodukt fills the mid-tier gap with affordable, EU-certified products. Aperam’s specialty focus caters to aerospace-derived electrical needs.
Overall, the market’s trajectory points to a 4.50% CAGR, with high magnetic strength segments growing fastest at 5.2%. Transformers hold 70% application share, but motors gain from EV traction. By 2032, expect GOES to underpin 80% of new large transformers globally.