Motor Lamination Market Worth $18.6 Billion by 2025 - Exclusive Report by MarketsandMarkets™
CHICAGO, Feb. 21, 2019 /PRNewswire/ -- According to the new market research report "Motor Lamination Market by Application (Performance, Comfort, and Safety), Material, Technology, Motor Type (Power Steering & Window, Adaptive front light, and Other), ICE & Electric Vehicle, and Region - Global Forecast to 2025", published by MarketsandMarkets™, the Motor Lamination Market is estimated to be USD 12.6 billion in 2018 and is projected to reach USD 18.6 billion by 2025, at a CAGR of 5.76%. The increasing electric vehicle demand and stringency in emission norms will drive the Motor Lamination Market.
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Cold rolled non-oriented (CRNO) is estimated to be the largest Motor Lamination Market during the forecast period
The core of the lamination is the most important part as it leads to motor strength and performance. The grade of materials to be used are majorly defined by the motor manufacturers or the OEMs. The defined grade depends upon the motor application and performance requirement. The low-grade materials lead to higher eddy current losses. As per industry experts, the lamination manufacturers prefer to use CRNO as the lamination stack material. The higher preference is observed because of material efficiencies to withstand the rigid structure and reduce eddy current losses. This has resulted in higher demand for CRNO lamination stack.
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Comfort application estimated to be the fastest growing Motor Lamination Market
The Motor Lamination Market is completely dependent upon the demand for motors and their usage in vehicles. Currently, in the developing and developed countries, ~20–30 motors are installed in vehicles. With the rising demand for comfort features and stringency in the safety regulations, the required applications are expected to increase. Hence, as each motor requires lamination stack, higher demand is estimated in the lamination market. For instance, in the Indian market, the demand for ABS motors and electronic stability control motor is lower than in developed nations. However, the increase in demand for premium vehicles and government mandates for safety features have increased the demand for such motors.
Increased vehicle production and presence of key players would drive the Asia Oceania Motor Lamination Market
According to OICA,In 2017, Asia Oceania accounted for 53.4% of the total global production of passenger cars and LCVs. China accounted for a 55% share of the regional production followed by Japan with 17.7%. According to industry experts, China is the largest market for small passenger cars. With the increasing focus on electric vehicles, China is projected to remain the largest market for passenger cars and LCVs. The demand for motor lamination is expected to be high because of the increased automobile production equipped with different types of motors as per applications in this region. Additionally, key players such as temple, Pitti laminations, Lawkim motors have their presence in Asia Oceania market. Hence, Asia Oceania is estimated to be the second largest market for motor lamination in 2018.
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The Motor Lamination Market is consolidated and dominated by a few global players. The key players in the market are Tempel (US), Euro Group Lamination (Italy), R Bourgeois (France), Lawkim Motors (India), Lamination Specialties (US), Alinabal (US), Lamination Specialties (US), Pitti Engineering (India), Euro Group (Italy) and Partzsch Elektromotoren E.K.(Germany).
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