Global Motor Lamination Market Report and Forecast 2023-2028

Global Motor Lamination Market Report and Forecast 2023-2028

Market Outlook

According to the report by Expert Market Research (EMR), the global motor lamination market reached a value of USD 21.8 billion in 2022. Aided by the rising demand for efficient motors and the rapid growth of electrification in various sectors, notably automotive and industrial applications, the market is projected to further grow at a CAGR of 4.7% between 2023 and 2028 to reach a value of USD 28.42 billion by 2028.

Motor laminations are critical components of electric motors, which constitute the core of rotors and stators. These laminations play an integral part in the functioning of motors by enhancing magnetic properties, improving efficiency, and reducing losses due to eddy currents. Owing to these advantages, motor lamination finds extensive use in various applications, including electric vehicles, industrial machinery, home appliances, and energy sectors.

The escalating demand for energy-efficient solutions is a significant factor fuelling the global motor lamination market growth. With heightened awareness regarding energy conservation and the move towards sustainable development, there has been a considerable transition towards systems that offer high efficiency with minimal energy losses. This transformation has led to a surge in demand for motor lamination-based electric motors. Moreover, the increasing focus on renewable energy and the rapid adoption of electric vehicles worldwide further stimulate the market growth.

The expanding applications of motor lamination in diverse sectors also play a pivotal role in boosting the motor lamination market expansion. In the automotive industry, motor lamination is used extensively in the manufacturing of electric and hybrid vehicles. As these vehicles require highly efficient motors to deliver superior performance and enhanced driving range, motor laminations become indispensable.

The industrial machinery sector also utilises motor laminations significantly. The ongoing trend towards industrial automation and the shift to Industry 4.0 demands the usage of high-performance motors with minimal energy losses. Motor lamination plays a crucial role here by enhancing the motor efficiency and offering substantial energy savings.

Furthermore, the increased focus on renewable energy systems has led to a greater growth of the motor lamination market. Wind turbines, integral to wind energy systems, require highly efficient generators for optimum performance. Here, motor laminations play a significant role by enhancing the performance and efficiency of these generators.

Market Segmentation

The market can be divided based on material type, technology, application, end use, and region.

Market Breakup by Material Type

• Steel

Cold Rolled Non-Oriented Steel

Cold Rolled Non-Grained Oriented Steel

Silicon Steel

• Nickel Alloys
• Cobalt Alloys
• Others

Market Breakup by Technology

• Welding
• Bonding
• Stamping

Market Breakup by Application

• Electrical Stators/Rotors
• Electric Motors
• Magnetic Coils
• Transformers
• Others

Market Breakup by End Use

• Automotive Industry
• Electronics Industry
• Infrastructure Industry
• Others

Market Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global motor lamination companies. Some of the major key players explored in the report by Expert Market Research are as follows:

• Sinotech Inc.
• Godrej & Boyce Mfg. Co. Ltd.
• Tempel Steel Company
• LCS Company
• HV Wooding Ltd.
• Polaris Laser Laminations LLC
• Partzsch Group
• Thomson Lamination Company
• EuroGroup Laminations S.p.A.
• Pitti Engineering Limited
• Others

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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.