Asia-Pacific Leads the Charge: Motor Lamination Market Outlook & Opportunity
Motor lamination cores are critical to electric motor efficiency and performance. As the world moves towards electrification in transport, industry, and appliances, lamination demand is rising. Stratview Research places the motor lamination market at USD 25.4 billion in 2024, showing ~5.1% year-on-year growth from 2023, and projects growth to USD 37.4 billion by 2032 with a CAGR of about 4.9%.
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Drivers
• EV proliferation and renewable energy devices: EV traction motors, hybrid systems, industrial electric motors (used in wind turbines, etc.) all need efficient motor cores. As electrification trends accelerate, lamination needs grow accordingly.
• Strict energy efficiency, emissions, and regulatory standards: For example, motor efficiency standards for electric motors in appliances, HVAC, and industrial drives, plus automotive regulations, push demand for lower core loss laminations.
• Cost of energy & operational savings: Motor lamination helps reduce heat generation, losses, which lower operating costs. For large fleets of motors, industrial plants, cost savings from improved lamination are significant.
• Technological improvements & materials innovation: Advances in steel grades, coatings, improved stamping, bonding or welding, thinner laminations, better insulation coatings etc. drive performance. Also, manufacturing improvements reduce waste and lower per-unit cost.
Trends
• Vehicle type and application tilt toward BEVs & passenger cars: Passenger cars remain the largest vehicle segment. Among EVs, BEVs lead. This drives motor lamination demand specifically in traction motors for these vehicles.
• Comfort & performance applications growing: Motors used in comfort (power steering, fans, pumps, etc.) and performance/safety segments are adding more lamination demand. These smaller motors are many in number, so aggregate demand is large.
• Material choice moving to higher-grade steels, oriented losses/non-oriented, etc.: Material improvements for magnetic performance, thermal conductivity, and lower are preferred. Also Cold-Rolled Non-Oriented Steel is noted to be growing quickly.
• Technology methods – welding, stamping, bonding etc.: Welding technology (for joining laminations) is expected to grow fast. Stamping remains core for shaping lamination sheets. Better coating or bonding between sheets helps reduce inter-lamination losses.
Challenges
While the outlook is good, there are challenges: high capital expenditure for equipment (stamping presses, welding or bonding equipment), maintaining quality to prevent defects (which degrade performance), supply of high-quality electrical steel, and managing cost pressures. Also, balancing material cost vs performance (thinner laminations, better steel) is key.
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Conclusion
Overall, the motor lamination market is on a strong growth path, from USD 25.4B in 2024 to about USD 37.4B by 2032, ~4.9% CAGR. Market winners will be those who invest in materials and manufacturing innovation, ensure high product quality, and target segments with high growth (BEVs, passenger cars, comfort/performance motors).
Asia-Pacific stands out as a hotspot, both for demand and for cost-competitive production. For lamination steel suppliers, motor part OEMs, and manufacturers of stamping, welding, bonding equipment, the market presents opportunities—but also demands on innovation, supply chain, and efficiency.