An electric motor core is a central or interior part of an electric motor, comprising ferromagnetic steel laminations which provide a magnetic path for flux produced by a rotor or stator winding. Electric motor cores are constructed from stacked steel sheets or powdered iron compressed under high pressure. The stacked sheets or compressed powder increase the magnetic permeability and reduces eddy currents. Electric motor cores provide a low-reluctance path for magnetic lines of flux and ensure efficient operation of the motor.
The Global Electric Motor Core Market is estimated to be valued at US$ 32.26 Mn in 2024 and is expected to exhibit a CAGR of 8.3% over the forecast period 2024 To 2031
Key Takeaways
Key players: Key players operating in the electric motor core market are Prairie View Industries, EZ-ACCESS, Roll-A-Ramp, SafePath Products, PVI Ramps (Handi-Ramp), Bridjit Curb Ramps, HomCom (Aosom LLC), Titan Ramps, Bluff Manufacturing, National Ramp, Handicare Group AB, Tri-Boro Construction Supplies, Vestil Manufacturing, Ruedamann Official Store, Discount Ramps.
Rising industrialization and automation trends across various sectors such as oil & gas, energy & power, HVAC, and others have increased the Electric Motor Core Market Demand. This in turn is driving the demand for electric motor cores globally.
Leading electric motor core manufacturers are focusing on expanding their regional presence by establishing new manufacturing facilities in developing economies of Asia Pacific and Latin America. This is helping them cater to the growing demand as well as further penetrate into new emerging markets.
Market Key Trends
The increasing adoption of energy-efficient motors compliant with new energy conservation standards is a key trend in the Electric Motor Core Market Challenges And Opportunities. Manufacturers are developing low-loss and heat dissipation electric motor cores to enable enhanced energy efficiency. Manufacturers are also increasingly using nanocrystalline laminated steel and amorphous metals for producing ultra-low loss electric motor cores. This is expected to gain traction going forward.
Porter’s Analysis
Threat of new entrants: The electric motor core market requires high capital investment for setting up manufacturing facilities and R&D making threat of new entrants low.
Bargaining power of buyers: There are number of established players in the electric motor core market providing buyers with varied options keeping their bargaining power moderate.
Bargaining power of suppliers: Raw materials required for manufacturing electric motor cores such as steel, aluminum etc. are commoditized keeping suppliers bargaining power low.
Threat of new substitutes: There are no close substitutes available for electric motor cores keeping threat of new substitutes low.
Competitive rivalry: Being a specialized component market, competitive rivalry is intense with focus on product innovation, quality and pricing.
Geographical Regions
North America holds the largest share of the electric motor core market in terms of value owing to extensive use of electric motors in various industries including automotive, HVAC, appliances etc. in the region.
Asia Pacific is expected to grow at the fastest rate during the forecast period due to strong growth in end use industries, increasing investments in renewable energy sector and growing infrastructure development activities in developing economies like China and India.
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*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
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