Delray Beach, FL, July 02, 2026 (GLOBE NEWSWIRE) — In terms of value, the Electrical Steel Market projected to grow from USD 62.93 billion in 2026 to USD 83.23 billion by 2031, representing a compound annual growth rate (CAGR) of 5.8% during the forecast period, as per the recent study by MarketsandMarkets™. Electrical steel is a specialized steel engineered to deliver excellent magnetic performance and is typically used in electromagnetic applications such as transformers, motors, and generators. Electrical steel is made by combining silicon with iron (steel) and is processed using advanced rolling and annealing techniques to provide low core loss, high permeability, and improved energy efficiency. Electrical steel can be divided into two categories: grain-oriented and non-grain-oriented. Each type has specific application requirements based on the requirements of directionally or isotropically operating magnetic field performance. Usually, electrical steel is manufactured as very thin sheets and/or coils to reduce energy losses associated with eddy currents. The use of electrical steel extends across the energy, automotive, and industrial sectors, making it essential to the production of electrical power, transmission of electrical power, and electric mobility. The properties of electrical steel are improved through both precision processing and coating technologies, so that electrical steel is vital to the creation of high-efficiency, low-loss electrical systems in today’s infrastructure.