Global Motor Lamination Market Size, Share And Growth Analysis For 2024-2033

The Business Research Company's Motor Lamination Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

LONDON, GREATER LONDON, UK, August 19, 2024 /EINPresswire.com/ -- The global motor lamination market has demonstrated robust growth, expanding from $20.27 billion in 2023 to $21.60 billion in 2024, with a compound annual growth rate (CAGR) of 6.6%. It will grow from $20.27 billion in 2023 to $21.60 billion in 2024 at a compound annual growth rate (CAGR) of 6.6%. This growth is driven by increasing demand for electric vehicles (EVs), stringent global energy consumption regulations, advancements in automation, and the expanding use of electric motors in manufacturing and renewable energy projects.

Rising Demand for Electric Vehicles and Energy Efficiency
The motor lamination market's expansion is closely linked to the growing demand for electric vehicles and renewable energy solutions. The shift towards EVs necessitates efficient motor laminations to enhance motor performance and efficiency. Additionally, the need for advanced motor laminations is amplified by the emphasis on reducing carbon footprints and the development of new alloys and composites. The rise in vehicle sales, which grew by 12.4% from 2022 to 2023, underscores the increasing need for efficient motor lamination solutions. For instance, new light vehicle sales increased from 14.93 million units in 2021 to 15.46 million units in 2023, highlighting the growing demand for enhanced motor efficiency.

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Major Players and Innovations
Key players in the motor lamination market include United States Steel Corporation, EuroGroup Laminations S.p.A., LCS Company, Tempel Steel Company, and Beckers Group, among others. These companies are focused on advancing motor lamination technologies, such as waterborne core plate varnish. Beckers Group, for instance, introduced the BeckryCore Plate Varnish in October 2021, offering a thinner coating that enhances electric motor efficiency by reducing power losses in core laminates.

Trends Shaping the Market
The motor lamination market is witnessing several significant trends:
• Increased Use of High-Performance Materials: The adoption of advanced materials to improve motor efficiency and performance.
• Smaller, Lighter Motor Designs: The trend towards more compact motor designs for automotive and portable applications.
• Smart Motors with IoT Connectivity: Growth in smart motors equipped with embedded sensors for real-time monitoring and optimization.
• Advanced Manufacturing Processes: Utilization of laser cutting and additive manufacturing to enhance production efficiency.
• Customized Motor Laminations: Rising demand for motor laminations tailored to specific applications and performance requirements.

Market Segmentation
The motor lamination market is segmented as follows:
• By Material Type: Cold Rolled Non-Oriented Steel, Cold Rolled Non-Grained Oriented Steel, Other Material Types
• By Technology: Welding, Bonding, Stamping, Other Technologies
• By Motor Type: Electric Water Pump Motor, Radiator Cooling Fan Motor, Electronic Throttle Valve Control Motor, Electronic Variable Gear Ratio Motor, Electronic Variable Valve Timing Motor, Variable Nozzle Turbo Motor, Adjustable Pedal Motor, Electric Power Steering Motor, Wiper Motor, Other Motor Types
• By Vehicle Type: Passenger Cars, Light Commercial Vehicles, Trucks, Buses
• By Application: Performance, Comfort, Safety

Geographical Insights: Asia-Pacific Leading the Market
Asia-Pacific was the largest region in the motor lamination market in 2023 and is expected to remain a significant player in the coming years. North America is anticipated to be the fastest-growing region during the forecast period, driven by increasing investments in EVs and advanced manufacturing technologies.

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Motor Lamination Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Motor Lamination Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on motor lamination market size, motor lamination market drivers and trends, motor lamination market major players, competitors' revenues, market positioning, and market growth across geographies. The motor lamination market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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