Green Vehicle Revolution Sparks Surge: Global Motor Lamination Market to Achieve USD 44.93 Billion Valuation by 2032

DUBLIN, Aug. 24, 2023 /PRNewswire/ -- The "Motor Lamination Market Share, Size, Trends, Industry Analysis Report, By Application, By Technology Type, By Motor Type, By Vehicle Type, By Material Type, By Electric Vehicle Type, By Region, Segment Forecast, 2023-2032" report has been added to  ResearchAndMarkets.com's offering.

A comprehensive study forecasts that the global motor lamination market is on track to achieve a remarkable valuation of USD 44.93 billion by 2032. The report offers detailed insights into the current dynamics of the market and provides a thorough analysis of its future growth trajectory.

Driving Factors

The burgeoning motor lamination market is driven by a confluence of factors, including the escalating demand for luxury car sales on a global scale. The increasing awareness of air pollution and environmental degradation has heightened the focus on vehicle emissions and regulatory requirements.

As a result, automobile manufacturers are compelled to create vehicles that adhere to stringent emission rules, which has led to a surge in the sales of electric vehicles, encompassing Battery Electric Vehicles (BEVs), Hybrid Electric Vehicles (HEVs), and Plug-in Hybrid Electric Vehicles (PHEVs).

India's Role in Accelerating Electric Vehicle Adoption

India's commitment to reducing the carbon intensity of its GDP by 45% by 2032 and achieving net-zero emissions by 2070 is set to bolster the electric vehicle market.

As part of its updated Nationally Determined Contributions (NDCs) to the United Nations Framework Convention on Climate Change, India aims to contribute significantly to global efforts in combatting climate change, thereby fostering the adoption of electric vehicles within the country.

Market Highlights

The report provides a detailed analysis of the motor lamination market, highlighting key trends and segments:

1. Comforts and Safety Segment: Anticipated to witness high growth due to increased investments in research and development (R&D) and manufacturing capacity across various countries.
2. Passenger Car Segment: Expected to experience higher growth rates, driven by the rising number of passenger cars and subsequent demand for the market.
3. Welding: Predicted to hold a significant market share due to its efficiency, cost-effectiveness, high-quality production, and growing demand for electric motors.
4. Asia Pacific: Expected to exhibit a higher growth rate, attributed to the rising production of automobiles within the region.

Prominent Players

Global players in the motor lamination market include Tempel, Pitti Engineering, Alinabal, EuroGroup Laminations, R. Bourgeois Alliance Steel, Metglas, Lawkim Motors, Sinotech, United States Steel, Lamination Specialties Incorporated, LCS Company, Polaris Laser Laminations, and Partzsch Group.

Segmentation and Analysis

The report delves into various facets of the motor lamination market, including form, product, application, and region. Segmentation highlights include:

• Application Outlook: Performance, Comfort, Safety
• Technology Type Outlook: Welding, Bonding, Stamping
• Motor Type Outlook: Various types of electric motors
• Vehicle Type Outlook: Passenger Cars, Light Commercial Vehicles, Trucks, Buses
• Material Type Outlook: Cold-Rolled Non-Oriented steel, Cold-Rolled Non-Grained steel
• Electric Vehicle Type Outlook: BEV, PHEV, FCEV
• Regional Outlook: North America, Europe, Asia Pacific, Latin America, Middle East & Africa

Market Dynamics

The report identifies driving factors and opportunities, such as the rising global demand for luxury vehicle sales and growing public awareness of the negative impacts of automobile emissions. It also highlights challenges and restraints, including higher upfront investments.

The motor lamination market is positioned for robust growth, underpinned by evolving consumer preferences, regulatory imperatives, and advancements in technology. As a crucial component of the electric vehicle ecosystem, motor lamination plays a pivotal role in shaping the future of sustainable transportation.

Companies Mentioned

• Tempel
• Pitti Engineering
• Alinabal
• EuroGroup Laminations
• R. Bourgeois Alliance Steel
• Metglas
• Lawkim Motors Group
• Sinotech
• United States Steel Corporation
• Lamination Specialties Incorporated
• LCS Company
• Polaris Laser Laminations LLC
• Partzsch Group

For more information about this report visit https://www.researchandmarkets.com/r/jn4i56

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