Grain Oriented Electrical Steel Market Expands Amid Global Shift Toward Energy-Efficient Electrical Grids

The global grain-oriented electrical steel (GOES) market was valued at USD 8.62 billion in 2024 and is expected to grow at a compound annual growth rate (CAGR) of 5.6% between 2025 and 2030. This growth is primarily driven by increasing global electricity demand and the critical need for energy-efficient electrical components. As a core material used in transformer manufacturing, GOES is essential for supporting the infrastructure needs of an increasingly urbanized and industrialized world.

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The rise in investments in power grids, renewable energy, and transmission networks is directly influencing demand for transformers and, in turn, for GOES. Developing regions, particularly in the Asia Pacific, are witnessing accelerated infrastructure development and electrification efforts, contributing significantly to the market’s expansion.

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Market Dynamics: Drivers, Opportunities, and Restraints

The global GOES market is gaining traction due to heightened focus on expanding and modernizing energy infrastructure. The material’s role in enhancing transformer efficiency makes it vital for applications in renewable energy, urban power grids, and industrial power systems. As more nations commit to decarbonization and clean energy, demand for GOES is expected to rise across all major regions.

Manufacturers are also increasing their R&D investments to develop advanced grades of GOES that meet the performance requirements of emerging applications. These include electric vehicle (EV) charging networks, smart grids, and advanced industrial equipment. The shift towards more sustainable energy systems presents significant growth opportunities for GOES manufacturers who can deliver innovative, efficient, and high-performance materials.

Regional Insights

Asia Pacific: Countries like China, Japan, and India are at the forefront of adopting GOES due to their large-scale investments in power infrastructure, transportation electrification, and renewable energy projects. Asia Pacific dominates global EV sales and renewable energy capacity expansion, making it a key regional market for GOES.

North America: The region is projected to experience a CAGR of 6.1% from 2025 to 2030. Government support for renewable energy initiatives, coupled with the expansion of EV infrastructure and clean energy mandates, is driving demand for GOES in transformer and generator manufacturing.

Key Market Players

Leading players in the GOES market are focusing on expanding production capabilities, enhancing product performance, and forming strategic partnerships to cater to rising global demand.

  • ArcelorMittal: A global steel and mining giant, ArcelorMittal produces a variety of steel products, including GOES, tailored for high-efficiency transformer applications.

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