Exploring the Competitive Landscape and Technological Developments in the Motor Lamination Market

Exploring the Competitive Landscape and Technological Developments in the Motor Lamination Market

Motor laminations, also known as electrical steel, are created by using electrical steel sheets. The metal sheets in motor laminations are stacked and then bonded to form the core of an electric motor’s stator and rotor. Adding silicon raises its electrical resistance, and improves the capacity of magnetic fields to penetrate it. It also decreases hysteresis loss.

The motor lamination market is an important and growing industry that plays a key role in the manufacturing of electric motors. The market is prominently driven by the increasing demand for energy-efficient electric motors in various industries, such as automotive, aerospace, and industrial automation.

What Are the Key Market Insights?

The global motor lamination market was valued at USD 20.44 billion in 2022 and is predicted to reach USD 44.93 billion with a CAGR of 8.3% during the forecast period. According to the report, the market in Asia Pacific is expected to witness significant growth over the foreseen period. The market for motor lamination The market is primarily segmented based on technology, motor type, vehicle type, material type, electric vehicle type, and application.

What Are the Driving Forces Influencing Industry Growth?

  • Developments in lamination technologies with improved performance are expected to drive the demand for motor laminations over the forecast period.
  • Growing global demand for luxury vehicle sales also fuels market expansion. Also, sales of electric vehicles, including BEVS, HEVs, and PHEVS, have increased due to more strong emission regulations. For instance, the data by the Federation of Automobile Dealers Associations' data reports that retail sales of electric vehicles (EVs) surged threefold in 2021–22 (April–March) (FADA).
  • Global demand for motors and lamination stacks is also rising due to rising safety standards and rising need for comfort applications.
  • Due to the demand for comfort applications and the expansion of safety standards, there is also an increase in the demand for motors and lamination stacks on a global scale.

Which Companies Dominate the Market?

Some of the key market players include Tempel, Pitti Engineering, Alinabal, EuroGroup Laminations, Bourgeois Alliance Steel, Metglas, Lawkim Motors, Sinotech, United States Steel, Lamination Specialties, LCS Company, Polaris Laser Laminations & Partzsch Group.

These companies offer a range of motor lamination products and services, including customized lamination designs, production, and distribution. In addition, as the demand for energy-efficient electric motors continues to grow, the market is becoming increasingly competitive, with new entrants expected to emerge in the coming years.

Recent Launches and Acquisition

  • In January 2023, United States Steel Corporation announced that they are doubling the warranty policy for GALVALUME coils used in commercial and residential building construction. The new warranties for US customers will now last between 40 and 60 years, which is a major improvement from the previous 20 to 25-year warranties.
  • In August 2022, Akoya Capital Partners and PNC Mezzanine Capital acquired Alinabal, allowing the long-time owners to pass on ownership to the next generation and providing the company with access to leadership expertise and financial resources for future growth.
  • In January 2023, Italy's EuroGroup Laminations, a maker of electric motor components, said it planned to launch a new share offering in Milan as early as next month as the market for public listings thaws after a tough 2022.

What Is the Future Outlook?

The motor lamination market is expected to experience significant growth in the coming years. The increasing demand for electric vehicles and renewable energy sources such as wind and solar power is expected to drive the growth of the market. The market is also likely to benefit from the increasing adoption of automation and robotics in manufacturing processes.

Get a Sample PDF Report on Motor Lamination Market For More Research Insights: https://www.polarismarketresearch.com/industry-analysis/food-decorations-and-inclusions-market/request-for-sample


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