IMARC Group has recently released a new research study titled “South Korea Electrical Steel Market Size, Share, Trends and Forecast by Type, Application, End Use Industry, and Region, 2025-2033”, offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends and competitive landscape to understand the current and future market scenarios.
South Korea Electrical Steel Market Overview
The South Korea electrical steel market size reached USD 799.88 Million in 2024 and is expected to grow to USD 1,214.53 Million by 2033, reflecting a CAGR of 4.75% during the 2025-2033 forecast period. The market expansion is driven by rising demand from automotive, electronics, and energy sectors, advancements in steel manufacturing technology, and a focus on energy-saving products. Electrical steel is vital for transformers, motors, and generators, serving various industrial and infrastructure projects.
Study Assumption Years
- Base Year: 2024
- Historical Year/Period: 2019-2024
- Forecast Year/Period: 2025-2033
South Korea Electrical Steel Market Key Takeaways
- Market Size in 2024: USD 799.88 Million
- CAGR: 4.75% (2025-2033)
- Forecast Period: 2025-2033
- The market is expanding with increasing demand from automotive, electronics, and energy industries.
- Advances in steel manufacturing and energy-saving products drive market growth.
- Electrical steel is widely used in transformers, motors, and generators for industrial and infrastructure projects.
- Growth is supported by government policies emphasizing sustainability and renewable energy adoption.
- Smart manufacturing and R&D investments enhance product quality and global competitiveness.
Sample Request Link: https://www.imarcgroup.com/south-korea-electrical-steel-market/requestsample
