The motor lamination market size has the potential to grow by USD 4.21 billion during 2020-2024, and the market’s growth momentum will accelerate during the forecast period.
This report provides a detailed analysis of the market by material (silicon steel, cold rolled lamination steel, cobalt alloys, nickel alloys, and others) and geography (APAC, Europe, North America, MEA, and South America). Also, the report analyzes the market’s competitive landscape and offers information on several market vendors, including Alinabal Inc., Alliance Steel, Big River Steel LLC, EuroGroup Spa, Orchid, PARTZSCH Group, Pitti Engineering Ltd., R BOURGEOIS SA, Tempel Steel Co., and United States Steel Corp.
Market Overview
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Market Competitive Analysis
The market is fragmented. Alinabal Inc., Alliance Steel, and Big River Steel LLC are some of the major market participants. Although the increasing adoption of automotive motors will offer immense growth opportunities, the high failure rate of electronic components will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
To help clients improve their market position, this motor lamination market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies. The report also covers details on the market’s competitive landscape and offers information on the products offered by various companies. Moreover, this motor lamination market analysis report also provides information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.
This report provides information on the production, sustainability, and prospects of several leading companies, including:
- Alinabal Inc.
- Alliance Steel
- Big River Steel LLC
- EuroGroup Spa
- Orchid
- PARTZSCH Group
- Pitti Engineering Ltd.
- R BOURGEOIS SA
- Tempel Steel Co.
- United States Steel Corp.
Motor Lamination Market: Segmentation by Material
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The silicon steel segment will account for the largest motor lamination market share. The availability of silicon steel in various specifications and the increased electrical resistance of these motor laminations will increase the preference for silicon steel motor laminations. This report provides an accurate prediction of the contribution of all segments to the growth of the motor lamination market size.
Market growth in this segment will be faster than the growth of the market in the cobalt alloys, nickel alloys, and others segments. This report provides an accurate prediction of the contribution of all the segments to the growth of the motor lamination market size.
Motor Lamination Market: Segmentation by Geography
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APAC was the largest motor lamination market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. The increasing demand for motor laminations in various applications in end-user industries including power and energy, automotive, and electrical sectors will significantly drive motor lamination market growth in this region over the forecast period.
59% of the market’s growth will originate from APAC during the forecast period. China and India are the key markets for motor lamination in APAC. Market growth in this region will be faster than the growth of the market in other regions.
Motor Lamination Market: Key Drivers and Trends
The growing popularity of in-wheel microdrive systems will be one of the critical trends that will drive motor lamination market growth. In-wheel microdrive systems consist of micro electric laminated motors and inverter modules which are installed next to the wheels. The increasing adoption of in-wheel microdrive systems can be attributed to its ability to generate high torque from small motors and low space requirement. The multiple levels of redundancy obtained by the addition of microinverter systems will further enhance the popularity of in-wheel microdrive systems. With the increasing adoption of in-wheel microdrive systems, the demand for motor lamination will also increase.
The air pollution caused because of the emissions of fossil fuel-based vehicles has resulted in the increasing adoption of EVs which use electric motors and electricity instead of engine and fossil fuel. The demand for hybrid passenger cars is particularly high in the EVs market because of its high scalability compared to other segments. To reduce the cost of hybrid vehicles, vendors in this segment are focusing on improving the fuel efficiency of their products. Moreover, the financial incentives offered by various governments to encourage the usage of EVs will further drive its demand. Such factors will increase the adoption of automotive motors, consequently driving the need for motor lamination. The increasing adoption of automotive motors coupled with the growing popularity of in-wheel microdrive systems will drive motor lamination market growth at a CAGR of almost 6% during the forecast period.
Motor Lamination Market: Key Highlights of the Report for 2020-2024
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will drive motor lamination market growth during the next five years
- Precise estimation of the motor lamination market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the motor lamination market industry across APAC, Europe, North America, MEA, and South America
- A thorough analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of motor lamination market vendors
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