Motor Lamination Market Size, Share Report, Analysis, Trends, Growth 2032

Motor Lamination Industry Prospective:

The global Motor Lamination market size was worth around USD 23.15 billion in 2023 and is predicted to grow to around USD 40.37 billion by 2032 with a compound annual growth rate (CAGR) of roughly 6.37% between 2024 and 2032.          

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Motor Lamination Market: Overview

The term "motor lamination" describes the thin, insulated metal layers that are placed one on top of the other to create an electric motor's core. Usually, silicon steel or, in certain situations, amorphous metal alloys are used to make these laminations. The goal of laminating the core is to lessen energy losses brought on by eddy currents produced by the motor's internal alternating magnetic fields. The motor's efficiency is increased by minimizing these currents by layer-by-layer insulation. Further improving the motor's overall performance are motor laminations, which offer structural support and aid in forming the magnetic field inside the motor.

Key Insights

• As per the analysis shared by our research analyst, the global Motor Lamination market is estimated to grow annually at a CAGR of around 6.37% over the forecast period (2024-2032).
• In terms of revenue, the global Motor Lamination market size was valued at around USD 23.15 billion in 2023 and is projected to reach USD 40.37 billion, by 2032.
• The increasing adoption of electric vehicles is expected to propel the market growth during the forecast period.
• Based on the material, the Silicon Steel segment is expected to capture the largest market share over the forecast period.
• Based on the application, the Magnetic Coils segment is expected to capture a significant market share over the forecast period.
• Based on the industry vertical, the automotive segment is expected to grow at a rapid rate over the forecast period.
• Based on region, the Asia Pacific is expected to lead the market during the forecast period.

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Motor Lamination Market: Growth Drivers

Rising demand for electric vehicles drives market growth

One of the key elements propelling the worldwide motor lamination market is the presence of electric automobiles. Because EVs contribute significantly to energy generation, the market for lightweight, effective motor components, including laminations, is seeing a boom in demand. The most recent edition of the IEA's annual Global Electric Vehicle Outlook states that sales of electric vehicles are predicted to increase by an additional 35% this year to reach 14 million. In 2022, sales of electric vehicles reached over 10 million worldwide. The share of the global car market devoted to electric vehicles has increased dramatically, from about 4% in 2020 to 14% in 2022 and a projected 18% this year.

Motor Lamination Market: Restraints

Volatility in raw material prices hinders market growth

Materials like silicon steel or amorphous metal alloys, which are commonly used to make motor laminations, can have volatile costs due to a variety of circumstances, including shifts in supply and demand, geopolitical unrest, and variations in exchange rates. For producers of laminations, this volatility may affect their profit margins and manufacturing costs. Thus, volatility in raw material prices is expected to hamper the market growth.

Motor Lamination Market: Opportunities

Increasing investment offers a lucrative opportunity for market growth

The increasing investment is expected to offer a lucrative opportunity for market growth during the forecast period. For instance, in October 2022, Bosch declared that its Charleston, South Carolina, manufacturing facility would begin producing electric motors. To increase the manufacturing of electrification goods at the location, the business also intends to invest over $260 million. By 2025, this is estimated to generate at least 350 net new jobs.

Motor Lamination Market: Challenges

Environmental regulation poses a major challenge to market expansion

The market for motor lamination may be impacted by environmental rules that seek to minimize the usage of particular materials or encourage the adoption of eco-friendly substitutes. To comply with changing rules, manufacturers could have to spend money on research and development, which could raise production prices. Thus, environmental regulation poses a major challenge for the market growth.

Motor Lamination Market: Segmentation

The global Motor Lamination industry is segmented based on Material, Application, Industry Vertical and region.

Based on the material, the global Motor Lamination market is bifurcated into Cobalt Alloys, Silicon Steel, Nickel Alloys and Others. The Silicon Steel segment is expected to capture the largest market share over the forecast period. The segment expansion is attributed to its high magnetic permeability. Because silicon steel has a high magnetic permeability and can readily conduct magnetic flux, it is used in motor laminations. By reducing energy losses, this characteristic is crucial for maximizing the effectiveness and efficiency of electric motors.

Based on the application, the global Motor Lamination industry is segmented into Magnetic Coils, Electrical Stators/Rotors, Electric Motors, Transformers and Others. The Magnetic Coils segment is expected to capture a significant market share over the forecast period. Innovation in coil and lamination technologies is driven by the need for electric motors with improved performance and efficiency. The need for motors that can run reliably and effectively is expanding across industries like automotive, industrial automation, and renewable energy, which is driving up demand for sophisticated coil and lamination solutions.

Based on the industry vertical, the global Motor Lamination industry is segmented into Electronics, Automotive, Infrastructure and Others. The automotive segment is expected to grow at a rapid rate over the forecast period. The segment expansion is attributed to the rising automotive industry. For instance, according to Invest India, in the fiscal year 2022–2023, there were 47,61,487 autos exported, with two-wheelers making up around 77% of the total. Passenger vehicle exports rose from 5,77,875 to 6,62,891 units between April 2022 and March 2023, showing a positive growth of 14.7%.

Motor Lamination Market: Report Scope

Regional Analysis

The Asia Pacific is expected to dominate the market during the forecast period

The Asia Pacific is expected to dominate the market growth during the forecast period. The regional expansion is attributed to the increasing automotive sector. China's car production and sales surpassed 28 million in 2016, making it the world leader for eight years running, according to data from the Ministry of Industry and Information Technology. Furthermore, in 2021, China's gross output of automobiles was over CNY 10 trillion (USD 1.4 trillion), accounting for nearly 10% of the country's GDP. The "pillar industry" of real estate, however, only produced CNY 7.78 trillion in gross industrial output in 2022.

Similarly, China exported 2.12 million units in 2021, nearly doubling from 2020, according to the National Bureau of Statistics of China. China was the third-largest exporter of vehicles in 2021, after only Japan (3.82 million cars) and Germany (2.3 million). Furthermore, in 2021, gasoline-powered vehicles made up the majority of China's export automobiles, with electric vehicles coming in second with 56% and 26%, respectively.

Motor Lamination Market: Competitive Analysis

The global Motor Lamination market is dominated by players like:

• Lawkim Motors Group
• Metglas Inc.
• Partzsch Group
• Tempel
• Alliance Steel
• LCS Company
• United States Steel Corporation
• Lamination Specialties Incorporated
• Sinotech Inc.
• Polaris Laser Laminations LLC

The Global Motor Lamination market is segmented as follows:

By Material

• Cobalt Alloys
• Silicon Steel
• Nickel Alloys
• Others

By Application

• Magnetic Coils
• Electrical Stators/Rotors
• Electric Motors
• Transformers
• Others

By Industry Vertical

• Electronics
• Automotive
• Infrastructure
• Others

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa