The motor lamination market is expected to witness significant growth, reaching USD 27.6 billion by 2027 from USD 21.9 billion in 2022, with a CAGR of 4.7% during the forecast period.
The market report provides comprehensive insights into the motor lamination market, including market data tables, figures, and an in-depth table of contents. It covers various aspects such as applications (performance, comfort, and safety), materials, technology, motor types (power steering & window, adaptive front light), ICE & electric vehicles, and regional analysis.
The increasing demand for fuel-efficient and safe vehicles is driving the need for accessories primarily driven by motors, which in turn propels the motor lamination market. The growing demand for premium vehicles, particularly in developing countries, further contributes to the demand for motors and lamination stacks. Technological advancements in lamination materials and manufacturing processes are also fueling the market.
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Cold Rolled Non-Oriented (CRNO) is the largest material segment in motor laminations. CRNO materials offer operational features that enhance motor efficiency, making them widely used as iron core materials in various rotating machines. They are especially suitable for small-size motor laminations and are in high demand due to the increasing applications and advancements in motor technology. CRNO holds the largest market share as the most cost-effective material for motor laminations. However, the market share of Cold Rolled Non-Grain Oriented (CRNGO) may show promising growth in the future, considering the rising popularity of high-grade special steels with suitable eddy loss characteristics. Asia Pacific dominates the CRNO market, driven by the growing sales of electric vehicles, particularly in China.
The comfort segment is expected to be the fastest-growing application for motor laminations. With vehicles equipped with approximately 20-30 motors, the demand for motor laminations will increase with the rising demand for comfort features and the implementation of safety regulations. The increasing adoption of Advanced Driver Assistance Systems (ADAS) and innovations in automated driving contribute to the demand for comfort application motors. Passenger cars are expected to hold the largest share of motor laminations in comfort applications.
Asia Pacific is projected to be the largest market for motor laminations during the forecast period. The region accounts for a significant market share in ICE and electric vehicles, driven by factors such as low manufacturing costs, easy availability of raw materials, and supportive government policies. The region serves as a major export hub for vehicles with advanced performance and comfort features. The growing demand for comfort features and safety regulations further drives the demand for motors and lamination stacks in the Asia Pacific region. The increasing sales of Light Commercial Vehicles and Heavy Commercial Vehicles, equipped with comfort features, also contribute to the demand for motors and lamination stacks.
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The motor lamination market is dominated by global players and includes several regional players. Key manufacturers and suppliers in the market include Tempel, Pitti Engineering Ltd, Alinabal, Inc, EuroGroup Laminations S.p.A., R. Bourgeois, and LCS Company.
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