New York, United States , May 17, 2024 (GLOBE NEWSWIRE) — The Global Motor Lamination Market Size is to Grow from USD 22.64 Billion in 2023 to USD 35.72 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 4.67% during the projected period.
Based on the material, the global motor lamination market is categorized into steel, nickel alloys, cobalt alloys, and others. Among these, the steel segment is expected to hold the largest share of the global motor lamination market during the forecast period. The steel segment’s growth is being fueled by a growing emphasis on sustainability and stringent energy efficiency regulations, which force manufacturers to employ materials that increase motor performance. As companies prioritize energy efficiency and technical advancements, the steel segment will play an important role in shaping the future landscape of the motor lamination market.Based on the technology, the global motor lamination market is categorized into welding, bonding, and others. Among these, the welding segment is expected to grow at the fastest CAGR during the forecast period. The growing demand for electric vehicles and renewable energy solutions drives the growth of the motor lamination market, with welding technologies leading the way in boosting manufacturing efficiency and quality. As the industry embraces automation and cutting-edge welding methods, the welding segment is likely to play a significant role in the motor lamination market’s long-term expansion and evolution.Based on the vehicle type, the global motor lamination market is categorized into passenger car, light commercial vehicles, truck, bus. Among these, the light commercial vehicles segment is expected to hold a significant share of the global motor lamination market during the forecast period. Motor laminations are key components in electric motors that improve efficiency and performance. As the LCV category grows fast due to economic activity and altering customer tastes, demand for motor laminations is expected to climb in lockstep. This trend is worsened by a greater focus on electric and hybrid vehicles in the LCV category, as manufacturers attempt to meet sustainability targets and stricter environmental regulations.Based on the application, the global motor lamination market is categorized into performance, comfort, safety. Among these, the comfort segment is predicted to dominate the global motor lamination market during the forecast period. The comfort market is experiencing a surge in demand for specialized motor laminations that contribute to smoother and quieter performance, hence improving the overall driving experience. Consumers love comfort, and automakers are focusing on sustainable and electric transportation solutions, therefore the comfort sector is projected to be a major development driver in the motor lamination market.           This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global motor lamination market based on the below-mentioned segments: 
(GlobeNewsWire)