PUBLISHER: Fortune Business Insights Pvt. Ltd. | PRODUCT CODE: 1887242
PUBLISHER: Fortune Business Insights Pvt. Ltd. | PRODUCT CODE: 1887242
The global motor lamination market is experiencing strong momentum as industries worldwide accelerate the shift toward electrification, energy efficiency, and high-performance motor technologies. According to the latest assessment, the global motor lamination market size was valued at USD 20.68 billion in 2024, and is projected to rise to USD 21.38 billion in 2025. By 2032, the market is expected to reach USD 30.89 billion, driven by advancements in electric motor design, widespread adoption of electric vehicles (EVs), and rising demand for energy-efficient solutions across automotive and industrial sectors. Asia Pacific continues to lead the market, capturing 56.67% share in 2024, supported by rapid vehicle production, increasing EV adoption, and significant investments in motor component manufacturing.
Motor lamination consists of thin stacked sheets of iron or steel used to form motor cores, essential for reducing eddy current losses and improving energy efficiency. These laminations have become indispensable in electric motors powering EVs, hybrid systems, industrial machinery, and auxiliary automotive applications. As global sustainability efforts intensify, the need for high-efficiency motors is accelerating demand for advanced lamination materials and precision manufacturing processes.
Market Drivers: Rising EV Adoption Fuels Growth
A major factor influencing market expansion in 2024 and 2025 is the rapid growth of the electric vehicle sector. EVs depend heavily on efficient electric motors, where high-quality laminations enhance torque, reduce heat generation, and minimize energy losses. According to the International Energy Agency, 14 million electric cars were sold globally in 2023, representing an 18% share of global car sales, up significantly from 14% in 2022 and 2% in 2018. This dramatic expansion directly fuels demand for motor laminations, especially in EV traction motors, auxiliary systems, regenerative braking systems, and propulsion units.
Market Restraints: Supply Chain Limitations
Despite positive growth, the market faces challenges linked to raw material supply constraints, particularly silicon steel, cobalt, and specialty alloys. Price volatility and geopolitical disruptions impact production stability. As of February 2025, U.S. steel prices were projected to increase by 8.2%, while aluminum prices expected to rise by 5.7%, significantly affecting automakers and motor manufacturers. These supply challenges raise production costs and limit accessibility for smaller players, slowing market adoption in certain regions.
Market Opportunities: Expanding Emerging Markets
Emerging economies in Asia Pacific, South America, and Africa offer significant opportunities, supported by rapid urbanization, rising disposable incomes, and strict fuel-efficiency regulations. Increased EV infrastructure development and consumer interest in sustainable mobility are boosting demand for high-quality motor components. Strategic investments are rising, such as EuroGroup Laminations acquiring a 40% stake in India's Kumar Precision Stampings in August 2024, demonstrating the growing appeal of developing regions for key manufacturers.
Key Trends: Shift Toward Lightweight and High-Efficiency Materials
One of the most impactful trends shaping the market is the adoption of lightweight lamination materials, including thinner high-grade steel and advanced bonding technologies. Innovations like Feintool's glulock MD process, launched in June 2024, have enabled reductions in material usage and iron losses by up to 30%, while improving motor efficiency by 10%. With higher EV range and performance requirements, manufacturers are prioritizing materials that optimize thermal performance and energy management.
Asia Pacific, valued at USD 11.72 billion in 2024, remains the global frontrunner due to strong EV adoption-particularly in China, which accounted for 60% of new electric vehicle registrations in 2023. India and Japan are also strengthening domestic EV production, driving demand for precision laminations.
Europe, expected to reach USD 3.94 billion in 2025, benefits from ambitious electrification targets and expansions by automakers such as BMW, Volkswagen, and Daimler.
North America, projected at USD 3.82 billion in 2025, shows strong demand from EV manufacturing hubs in the U.S., supported by technological innovations in motor systems.
The Rest of the World is expected to reach USD 1.43 billion in 2025, driven by growing automotive modernization and investments in electric mobility.
Conclusion
With the global market rising from USD 20.68 billion in 2024 to an anticipated USD 30.89 billion by 2032, the motor lamination industry is positioned for long-term growth. Accelerating EV adoption, innovation in lightweight materials, and expanding investments across emerging regions will continue to drive strong demand for high-performance motor laminations through 2032.
Segmentation By Vehicle Type
By Propulsion
By Motor Application
By Manufacturing Process
By Material
By Motor Type
By Region