By 2032, it is expected to grow to 4.54 billion US dollars, with an average annual growth rate of 11.11%.
Fairfield Market Research is a research company that publishes highly relevant market data and insightful detailed reports. The market size for electrical steel in India is expected to expand from 2.17 billion USD in 2025 to 4.54 billion USD by 2032, recording a robust annual growth rate of 11.11%. Electrical steel is a crucial material in the power and electronics sectors, used in components that form the core of modern energy and mobility solutions, such as transformers, motors, and generators. Known for its excellent magnetic properties and energy efficiency, electrical steel plays an important role in reducing power losses in electrical equipment. In India, the acceleration of energy transition and infrastructure development is driving a surge in demand for this specialty steel. Both oriented and non-oriented electrical steel are increasingly being utilized in power transmission networks, electric vehicles (EVs), industrial automation, and renewable energy systems. Additionally, there is a shift in the market towards environmentally friendly and high-performance materials. Advances in technology, coupled with government initiatives promoting electrification and self-reliant manufacturing, are laying the groundwork for long-term market growth.
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Publisher: Fairfield Market Research Publication Month: April 2025 Report Language: English *For more details, please visit our website or refer to the sample materials.
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