Global Motor Lamination Market to Reach $28.5 Billion by 2030
The global market for Motor Lamination estimated at US$17.3 Billion in the year 2023, is expected to reach US$28.5 Billion by 2030, growing at a CAGR of 7.4% over the analysis period 2023-2030. Cold Rolled Non-Oriented (CRNO), one of the segments analyzed in the report, is expected to record a 7.3% CAGR and reach US$14.8 Billion by the end of the analysis period. Growth in the Cold Rolled Non-Grain Oriented (CRNGO) segment is estimated at 7.8% CAGR for the next 7-year period.
The U.S. Market is Estimated at $4.5 Billion, While China is Forecast to Grow at 10.9% CAGR
The Motor Lamination market in the U.S. is estimated at US$4.5 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$6.8 Billion by the year 2030 trailing a CAGR of 10.9% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.6% and 6% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 5.5% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$4.1 Billion by the year 2030.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
Download eBook