ELECTRIC MOTOR CORE MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2023 - 2030)

Electric Motor Core Market, By Material Type (Silicon Steel, Cold-Rolled Lamination Steel, Cobalt, Aluminum, and Others), By Motor Type (AC Motors, DC Motors, Hermetic Motors, and Others), By End-use Industry (Automotive, HVAC, Industrial Machinery, Aerospace & Transportation, Household Appliances, and Others), By Geography (North America, Europe, Asia Pacific, Latin America, Middle East and Africa).

Recent Developments

New product launches

In March 2022, ABB is engaged in power and automation technologies launched a new range of high efficiency IE5+ SynRM motors offering ultra-premium energy efficiency. These motors are designed for applications in industries like mining, metals, pulp & paper.
In January 2021, Siemens technology conglomerate introduced a new 1FW4 line of high efficiency (IE5+), permanent magnet-excited synchronous reluctance motors with output up to 375 kW. It delivers improved efficiency across entire speed range.
In June 2020, WEG electric-electronic equipment company introduced a new range of W22 Magnet Super Premium (IE4) motors for demanding applications. The key features include high power density design and premium efficiency levels.

Acquisition and partnerships

In October 2021, Regal Beloit Corporation acquired NEMA motor manufacturer Section Eight Co. to strengthen its portfolio of general-purpose motors.
In December 2020, Toshiba electronics company announced the acquisition of the motor business of Siemens for US$ 861 million to expand its offering of high efficiency motors
In March 2022, Nidec manufacturer and distributor of electric motors entered into a strategic partnership with ArcelorMittal to jointly develop high quality electrical steel grades for electric motor cores