LONDON--(BUSINESS WIRE)--The global motor lamination market size is expected to grow by USD 4.21 billion as per Technavio. This marks a significant market growth compared to the 2019 growth estimates due to the impact of the COVID-19 pandemic in the first half of 2020. Moreover, steady growth is expected to continue throughout the forecast period, and the market is expected to grow at a CAGR of 6%. Request Free Sample Report on COVID-19 Impacts
Read the 120-page report with TOC on "Motor Lamination Market Analysis Report by Material (Silicon steel, Cold rolled lamination steel, Cobalt alloys, Nickel alloys, and Others) and Geography (APAC, Europe, North America, MEA, and South America), and the Segment Forecasts, 2020-2024".
The market is driven by the increasing adoption of automotive motors. In addition, the growing popularity of in-wheel microdrive systems is anticipated to boost the growth of the Motor Lamination Market.
The increasing adoption of automotive motors will be one of the major drivers in the global motor lamination market during the forecast period. The rise in air pollution can be attributed to the fact that most of the fossil fuel-based vehicles emit harmful toxics. The adoption of electric vehicles (EVs) is an effective solution for resolving this issue as they use electric motors and electricity instead of an engine and fossil fuel. Governments are also offering financial incentives to encourage the purchase of EVs. Moreover, the hybrid segment is a prominent segment of the EVs market, owing to its scalability compared with other segments. The reduction in the price of hybrid passenger cars, technological improvements in hybrid and electric cars along with government initiatives are likely to increase the adoption of automotive motors, which in turn, will boost the demand for motor lamination.
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Major Five Motor Lamination Companies:
Alinabal Inc. has business operations under various segments such as Alinabal Engineered Products, Alinabal Motion Transfer Devices, DACO Instruments, and Practical Automation. The company offers rotors, stators, and end laminations of different sizes, ranging from 1/8" to 35".
Alliance Steel offers different types of steel including hot rolled steel, cold rolled steel, coated steel, pre-paint steel, and stainless steel. The company offers cold-rolled motor lamination steel, which is used to manufacture electrical equipment and components, small and large electric motors, home appliances, generators, and transformers.
Big River Steel LLC
Big River Steel LLC operates its business through two segments: niche products and standard products. The company offers cold-rolled motor lamination, which meets ASTM A726 standards for use in the electromagnetic core of fractional motors, and other electrical equipment and components.
EuroGroup Spa processes the highest quality raw materials such as electrical steel and offers fast prototyping capabilities and numerical simulation tools. The company offers high-quality motor lamination for electric motors and generators.
Orchid has business operations under various segments such as electrical steel laminations, electric motor laminations, electric motors and generators cores, lamination tooling, power transformer cores, and standard products. The company offers electric motor lamination and generator lamination cores for various end-user applications, including household appliances, locomotives, wind turbines, and others.
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Motor Lamination Market Material Outlook (Revenue, USD bn, 2020-2024)
- Silicon steel - size and forecast 2019-2024
- Cold rolled lamination steel - size and forecast 2019-2024
- Cobalt alloys - size and forecast 2019-2024
- Nickel alloys - size and forecast 2019-2024
- Others - size and forecast 2019-2024
Motor Lamination Market Regional Outlook (Revenue, USD bn, 2020-2024)
- APAC - size and forecast 2019-2024
- Europe - size and forecast 2019-2024
- North America - size and forecast 2019-2024
- MEA - size and forecast 2019-2024
- South America - size and forecast 2019-2024
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