Motor Lamination Market Outlook
According to the report by Expert Market Research (EMR), the global motor lamination market analysis reached a value of USD 21.8 billion in 2022. Aided by the increasing demand for energy-efficient electric motors and the growing applications of motor lamination in various industries, 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 lamination, a vital component of electric motors, improves the efficiency and performance of motors by reducing energy losses from magnetic hysteresis and eddy current. It is primarily used in diverse applications including vehicles, home appliances, industrial machinery, and HVAC systems. It plays an essential role in enhancing the operating life, thermal performance, and overall efficiency of electric motors.
The increasing consumer preference for energy-efficient electrical products is a primary factor driving the global motor lamination market growth. With growing environmental consciousness and the emphasis on energy conservation, there has been a significant shift towards energy-efficient electric motors, leading to an upsurge in the demand for motor lamination.
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Additionally, the rising trend of electric vehicles (EVs) and hybrid electric vehicles (HEVs) has further contributed to the expanding market for motor lamination. Electric and hybrid electric vehicles are fitted with efficient electric motors, increasing the need for high-quality motor laminations.
The wide applications of motor lamination across various industries also significantly contribute to the motor lamination market expansion. In the automotive industry, motor lamination is used in starter motors and alternators of traditional vehicles and traction motors of EVs and HEVs. The home appliances sector utilises motor lamination in various appliances such as washing machines, refrigerators, and air conditioners to enhance their energy efficiency and performance.
Moreover, the industrial machinery sector employs motor lamination in diverse machinery like CNC machines, lathe machines, and milling machines, bolstering the motor lamination market demand. Further, motor lamination finds essential usage in HVAC systems, power generators, and transformers, leading to a broader market reach.
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The increasing demand for automation in various sectors, such as manufacturing and automotive, has led to an increased focus on motor lamination as a vital component for electric motors. The rise of the industry 4.0 revolution and the growing popularity of smart factories where automated machinery and electric motors are prominent have increased the need for motor lamination, thereby fuelling the motor lamination market expansion.
Motor Lamination 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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