Motor Lamination Global Market Report 2024

Motor lamination involves the stacking of thin layers of electrical steel sheets, known as laminations, to form the core of an electric motor. These laminations are coated or insulated to reduce energy loss from eddy currents, thereby enhancing motor efficiency. They also serve to direct magnetic flux generated by the coils towards either the rotor or stator, depending on the motor's design.

The primary materials used for motor lamination include cold rolled non-oriented steel, cold rolled non-grained oriented steel, and other specialized types. Cold rolled non-oriented steel is processed to ensure consistent magnetic properties in all directions. Various manufacturing techniques such as welding, bonding, and stamping are employed to produce laminations tailored for specific motor applications. These applications range widely and include electric water pump motors, radiator cooling fan motors, electronic throttle valve control motors, electronic variable gear ratio motors, electronic variable valve timing motors, variable nozzle turbo motors, adjustable pedal motors, electric power steering motors, wiper motors, and others. These motors find use in passenger cars, light commercial vehicles, trucks, and buses, serving diverse purposes such as enhancing performance, comfort, and safety.

The motor lamination research report is one of a series of new reports that provides motor lamination market statistics, including the motor lamination industry's global market size, regional shares, competitors with a motor lamination market share, detailed motor lamination market segments, market trends and opportunities, and any further data you may need to thrive in the motor lamination industry. This motor lamination market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The motor lamination market size has grown strongly in recent years. It will grow from $20.27 billion in 2023 to $21.6 billion in 2024 at a compound annual growth rate (CAGR) of 6.6%. Historical growth can be attributed to several factors including increased demand for electric vehicles, stringent global energy consumption regulations, expanded automation and the use of electric motors in manufacturing, and the proliferation of wind and solar power projects requiring efficient generators.

The motor lamination market size is expected to see strong growth in the next few years. It will grow to $27.99 billion in 2028 at a compound annual growth rate (CAGR) of 6.7%. The growth in the forecast period is driven by ongoing expansion in the electric vehicle market, advancements in new alloys and composites, heightened focus on reducing carbon footprints, continued growth in renewable energy installations, urbanization in developing economies, and increased investments in research and development. Key trends expected include the adoption of high-performance materials, a shift towards smaller and lighter motor designs to enhance performance in automotive and portable applications, the rise of smart motors equipped with embedded sensors and IoT connectivity for real-time monitoring and optimization, utilization of advanced manufacturing techniques such as laser cutting and additive manufacturing, and rising demand for customized motor laminations tailored to specific application needs and performance criteria.

The motor lamination market is expected to experience growth driven by an increase in vehicle sales in the foreseeable future. Vehicle sales involve the commercial exchange of automobiles from sellers to buyers, reflecting a rising demand for efficient motor lamination solutions amid evolving regulatory standards and sustainability concerns. Motor laminations are crucial components utilized in vehicles to enhance the efficiency and performance of electric motors, supporting essential functions such as propulsion, steering, and auxiliary systems. For example, data from the National Automobile Dealers Association in December 2023 revealed a significant increase in new light vehicle sales, rising from 14.93 million units in 2021 to 15.8 million units in 2022, and reaching 15.46 million units in 2023, marking a 12.4% growth from 2022 to 2023. This surge underscores how the expanding vehicle market is fueling demand in the motor lamination sector.

Leading companies in the motor lamination market are concentrating on advancing their product offerings, including innovative solutions such as waterborne core plate varnish and thinner coatings aimed at enhancing the efficiency of electric vehicle motors. Waterborne core plate varnish utilizes water as a solvent in core plate varnish applications, providing environmental benefits and reduced emissions compared to traditional solvent-based coatings. For instance, Beckers Group, a Germany-based coatings and lamination manufacturer, introduced the BeckryCore Plate Varnish (CPV) in October 2021. This product, leveraging Beckers' expertise in coil coating, offers a thinner coating that improves electric motor efficiency by reducing power losses in core laminates and enhancing magnetic properties.

In February 2022, Akoya Capital Partners LLC and PNC Mezzanine Capital acquired Alinabal LLC for an undisclosed amount. This acquisition aims to capitalize on Alinabal's strong market position and capabilities to accelerate growth, establishing a leading platform in precision machining and contract manufacturing. Alinabal LLC, based in the US, specializes in precision metal manufacturing, including the production of motor laminations.

Major companies operating in the motor lamination market are United States Steel Corporation, EuroGroup Laminations S.p.A., LCS Company, Tempel Steel Company, Pitti Engineering Ltd, Godrej And Boyce Manufacturing Limited, Alliance Steel Corporation, Metglas Inc, Precision Micro Ltd., UPG Enterprises LLC, Micro Precision Co. Ltd., Wingard & Co Inc, Partzsch Group, Polaris Laser Laminations LLC, Sinotech Logistics Co Limited, Lake Air Companies, R. Bourgeois SA, HV Wooding Limited, Thomson Lamination Company Inc, TEUK Limited.

Asia-Pacific was the largest region in the motor lamination market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the motor lamination market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the motor lamination market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The motor lamination market consists of sales of lamination cores, punching dies, and tools. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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