Motor Lamination Market Global Key Players Analysis and Growth to Reach USD 27.6 billion by 2027

The motor lamination market is projected to grow from USD 21.9 billion in 2022 to reach USD 27.6 billion by 2027 at a CAGR of 4.7% during the forecast period. Increasing vehicle sales, developments in autonomous vehicles, and growing sales of luxury vehicles are boosting demand for motors. In addition, the growing demand for safety, performance, and comfort features has increased the number of motors per vehicle. For both these reasons, the demand for motor lamination stacks is growing.

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"Comfort application motors is expected to be the largest motor lamination market in All-terrain vehicles."

The comfort application motors segment is expected to be the largest segment for the All-terrain vehicle motor lamination market during the forecast period. With an increase in the adoption of all-terrain vehicles for varied applications and uses ranging from adventure tourism, farm field touring, and off-road riding to high-end performance drive, which demands a bit of comfort and additional accessories such as electric power steering, powered seats and adaptive light controls are primarily driven by motors and other components. However, the space for comfort motors is limited in the case of ATVs considering that most vehicles are being used for off-roading and thrill driving; the advancements in technology and demand for balanced luxury, the demand for comfort motors will increase in the coming years.
"Bonding would be the largest and fastest manufacturing technology for the motor laminations during the forecast period."
Bonding technology for manufacturing motor laminations will have the largest market share during the forecast period. Bonding eliminates the need for magnetic core rivet joints or welding, which reduces interlaminar loss. The bonded cores have excellent thermal conductivity which produces no hum noise. Various developments in bonding techniques with flexibility for customized requirements are also driving the popularity of the technology. For instance, Precision Micro Ltd. developed an innovative lamination bonding technique that uses the photoresist to protect the material surface during chemical etching as the bonding agent. This process helps provide insulating properties within the stack and can be more cost-effective than traditional bonding and welding. Thus, the demand for bonding technology is expected to increase as motors, and their applications enhance due to the growing adoption of advanced vehicle features.

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Asia Pacific is the largest and fastest growing market for the motor lamination market
Asia Pacific countries such as China, India, South Korea, and Japan account for a major share of the motor lamination market due to the demand for vehicles equipped with advanced systems. Many premium vehicles are equipped with advanced systems which are primarily driven by motors. Also, with stringent emission norms in the Asia Pacific, the motor lamination market is expected to get a boost. This is because the use of electric motor systems for e-mobility reduces the overall weight and hence makes the vehicle lighter, thereby driving the demand for motor lamination stacks in the region. The Chinese market is shifting toward the adoption of advanced technologies, with more thrust to comfort applications like sunroof systems, blower motors etc. in mid-size and economy-class vehicles. As a result, manufacturers are investing in deploying advanced technologies with motor controlled into their vehicles. Various developments in lamination technology, particularly in materials and bonding, are also popularizing customizable motor laminations among various OEMs. Thus, considering the aforementioned factors, motor lamination market is expected to grow significantly in Asia Pacific in the coming years.

Breakdown of primaries
The study contains various industry experts' insights, from component suppliers to Tier 1 companies and OEMs. The break-up of the primaries is as follows:
• By Company Type: Supply-side - 70%, Demand-side - 30%
• By Designation: C level - 20%, Director Level- 20%, Others- 60%
• By Region: Asia Pacific - 60%, Europe - 20%, North America - 20%
Note: Others include Design Engineer, motors manufacturer, etc.

The key players in the motor lamination market are Tempel (US), Pitti Engineering Ltd (India), Alinabal, Inc (US), EuroGroup Laminations S.p.A. (Italy), R. Bourgeois (France), and LCS Company (US). The key strategies adopted by major companies to sustain their position in the market are expansions, contracts and agreements, and partnerships.

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Research Coverage
The motor lamination market By application (performance, comfort & safety), By technology (welding, bonding, stamping and others), By material (Cold Rolled Non-Oriented, Cold Rolled Non-Grained Oriented, Others), By vehicle type (Passenger cars, light commercial vehicles, buses, and trucks), By motor type (electric Water pump motor, radiator cooling fan motor, electronic throttle valve control motor, electronic variable gear ratio motor, electronic variable valve timing motor, variable nozzle turbo motor, adjustable pedal motor, electric power steering motor, wiper motor, starter motor, EGR Motor, fuel pump motor, power antenna motor, air conditioner motor, door mirror motor, power window motor, tilt steering column motor, blower motor, power Seat motor, electric sunroof motor, door closer motor, cruise control motor, adaptive front light motor, electronic stability control motor, ABS motor, electronic parking motor), By electric vehicle type, electric vehicle motor lamination market by application (performance, safety & comfort), all-terrain vehicle motor lamination market by application (performance, safety & comfort), By Region (Asia Pacific, Europe, North America, and Row.

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This release was published on openPR.