High Magnetic Induction Grain-Oriented Silicon Steel Market Size, Industry Outlook Report, Regional Analysis, Application Development, Price Trends, Competitive Market Share & Forecast, 2025 - 2034

High Magnetic Induction Grain-Oriented Silicon Steel Market Size

The global high magnetic induction grain-oriented silicon steel market generated notable revenues in 2024 and is expected to grow at a notable CAGR from 2025 to 2034 through the modernization by smart grids, increasing electric vehicles, and the encouragement of sustainable industrial practices. According to IEA.org, global sales of electric cars were approximately 17 million in 2024. There is a demand for materials and components having high magnetic permeability with low core loss in pushing to upgrade power grid systems and rapidly deploy renewable energy sources. HiB GO silicon steel has the orientation of grains and better magnetic properties, and is appropriate for power transformers and electric motors, and other heavy electric equipment.
 

The High Magnetic Induction Grain-Oriented Silicon Steel (HiB GO) market is influenced by regulatory, technological, and industrial factors. Of primary importance are the tightening of global energy efficiency regulations limiting energy losses in electrical infrastructure. Consequently, utilities and manufacturers are incorporating HiB GO steel in transformers and motors to align with the new efficiency targets and reduce long-term operating costs, with energy as one of the most significant costs in sustaining a profitable business model. While HiB GO has many advantages, there are a few key market restraints. Ideally, HiB GO would have much higher total output volumes, since high production costs are incurred due to the complexity of production processes like precision cold rolling, annealing, and stabilization of grain orientations. All sub-processes require expensive machinery (e.g., cold rolling mills and vacuum annealing furnaces) and tight process controls to minimize costs, resulting in high capital and operating costs.
 

High Magnetic Induction Grain-Oriented Silicon Steel Market Trends

The high magnetic induction grain-oriented silicon steel industry is seeing innovation and strategic change. One of the biggest trends is the new thinner gauge material, e.g., 0.23 mm and less, to minimize energy losses of transformers and energy efficiency. The ultra-thin laminations are significant in numerous applications where the electrical frequency is high and the load is limited to reduce energy dissipation. The backbone of the market is also being advanced with improved coatings. Improved insulation coatings not only improve interlaminar resistance but enhance thermal stability, which reduces eddy current losses and extends the performance lifespan of electrical components, thus creating higher performance for manufacturers without compromising durability.
 

An increasing environmental consciousness has encouraged manufacturers to rethink sustainability and adopt practices, including the use of cleaner energy in the production of their products and the recycling of used steel scrap. These efforts will help meet global decarbonization objectives and develop brand confidence in sustainable markets.  An additional trend is the reshoring of supply chains. As a result of political unrest, changes in trade policies, and the continued supply logistics challenges, many countries are investing in HiB GO production locally to help source from within their own borders to ensure independence from consuming with external suppliers.
 

High Magnetic Induction Grain-Oriented Silicon Steel Market Analysis

The cold-rolled grain-oriented (CRGO) silicon steel segment held the largest share in 2024. Changing the relationship of the steel's microstructure in terms of cold-rolling and annealing results in a steel that has truly optimized its fcr electrical efficiency of these grain orientations. CRGO steels are utilized for cores in electrical transformers, primarily to maximize the efficiency of transferring energy from the medium voltage electrical grid, with a very minimum level of energy loss as magnetic flux is yielded through the reversals. In addition to CRGO, a higher-grade, low-loss CRGO offers a more optimal grain structure for even greater efficiency, with higher permeability and significantly lower core losses. This is important for important applications with high performance ratings or voltages where performance is key.  The demand for CRGO HiB silicon steel continues to align with power grid modernization for the global reliance on this electrical infrastructure. As utilities modernize their aging fleets of oil transformers and upgrade their infrastructures for connecting distributed energy resources (DERSy or rooftop solar), demand for core materials grows.
 

The power applications segment in the high magnetic induction grain-oriented silicon steel market held the largest share in 2024. HiB GO steel is the favored configuration that a transformer, power generator, reactor, or high-capacity motor will use to operate efficiently and minimize thermal energy loss. The majority of HiB GO steel, and more accurately, the manufacturing of HiB GO steel, goes to distribution and power transformers driven by the accelerating supplies of electricity, electrification in rural regions, and the increase in data centers being built and connected worldwide. HiB GO steel is important for mitigating no-load losses in a transformer, which produces energy savings over time, and meets/beats energy efficiency legislation that is growing increasingly stringent. At the same time, utilities and private grid operators are seeking equipment with a reduced environmental footprint, which has increased the uptake of materials like HiB GO steel that enables its use in eco-design.
 

Asia Pacific high magnetic induction grain-oriented silicon steel market held the largest share in 2024 because of the speed and scale of industrialization, urbanization, and infrastructure development of countries such as China, India, and Southeast Asia. These countries are rapidly expanding their power generation and distribution capacity to meet the needs of their growing populations and economies, becoming among the largest users of CRGO steel, including the HiB grade needed for high-performance electrical equipment. China is still the largest and most influential part of this sector and is the largest consumer and producer of HiB GO steel. China has invested extensively in upgrading its power grid, renewable energy build-out, and high-speed rail development, all of which require efficient magnetic materials. India is also increasing transformer manufacturing capacity and has policies to promote domestic transformer production and energy-efficient components.
 

High Magnetic Induction Grain-Oriented Silicon Steel Market Share

Market players involved in the high magnetic induction grain-oriented silicon steel industry include:

·  Cogent Power

·  Arnold Magnetic Technologies Corp.

·  Nippon Steel & Sumitomo Metal

·  Posco, AK Steel Intl.

·  Baosteel (SASAC of the State Council)

·  Cogent Power Limited

·  Thyssenkrupp

·  JFE Steel Corporation (JFE Holdings)
 

Prominent companies involved in the high magnetic induction grain-oriented silicon steel market have delivered varying strategic actions to maintain a competitive advantage and adapt to changes in the market. The first option is through capacity expansion. Leading companies such as Baosteel and Nippon Steel have announced that they will build additional capacity to keep pace with the increase in the global demand for high-efficiency electrical steel, of which the primary use is in the manufacture of transformers and components for electric vehicles. Product development is also a big concern. Companies like Thyssenkrupp and JFE Steel have proposed investments in new R&D to improve the performance of electrical steel. Thinner gauges, advanced insulation coatings, better magnetic performance, and reduced core loss are potential developments.
 

High Magnetic Induction Grain-Oriented Silicon Steel Market News

• In June 2024, JFE Steel Corporation launched a dry bulk carrier constructed using their JGreeX™ green steel, a grain-oriented electrical steel. JGreeX™ was designed to significantly cut CO? emissions during production for all the steel materials directly procured by Higaki Shipbuilding. According to the company, this was the world’s first vessel built entirely from green steel.
   
• In October 2024, JSW Steel and Japan’s JFE Steel Corporation acquired Thyssenkrupp Electrical Steel (TKES) India for ?4,051.40 crore. TKES India specialized in manufacturing grain-oriented electrical steel (GOES) for transformers and generators. Their products were approved by Indian utilities, such as the Power Grid Corporation of India, and exported worldwide.