Electrical Steel Motors Amplify Electromobility in EVs
New developments in the rolled steel motor market have facilitated the inception of electrical steel. These electrical steel strips form the heart of electric motors, and determine the efficiency of electric vehicles (EVs). Heavy utilization of electrical steel motors in the EV market has triggered their growing prominence in battery-powered and hybrid electric vehicles (HEVs). Thus, with the increasing adoption of electric vehicles by customers expected in the coming decade, manufacturers in the rolled steel motor market can profit from this trend.
As such, manufacturers in the rolled steel motor market are developing high-performance electrical steel motors that shorten production cycles with low temperature and less pressure for curing in the EV landscape. They are increasing focus on enhancing electromobility in EVs by eliminating the need for mechanical joining and welding to reduce the adverse effects that might affect the magnetic properties of electrical steel motors. For instance, Voestalpine - a steel industry company, announced the launch of isovac® and backlack-v® products that offer exceptional stamping properties and minimal magnetization losses for manufacturers in the EV space.
Request a sample to get extensive insights into the Rolled Steel Motor Market
Cost-efficient and Advanced Washdown Motors Gain Prominence in Food & Beverage Applications
There is growing demand for durable washdown motors for various food & beverage (F&B) applications. To address this growing demand, manufacturers in the rolled steel motor market are engineering efficacious washdown motors that stand up against the rigors of food processing and beverage manufacturing. As such, the production of rolled steel motors is projected to be the second-highest for the food & beverage sector, i.e. ~17,500 thousand units in 2027. Thus, the demand for reliable and low-maintenance washdown motors is catalyzing market growth.
To understand how our report can bring difference to your business strategy, Ask for a brochure
Manufacturers are increasing the application of rolled steel motors in other end markets such as meat packaging, pharmaceutical packaging, and sugar refining. Unique and time-saving washdown fan motors serve as cost-efficient alternative for stakeholders in the food & beverage landscape as they drastically minimize uptime during various processes. As such, manufacturers in the rolled steel motor market are innovating new waterproof and government-approved motors. To align with government regulations, manufacturers are developing non-toxic epoxy paint motors as well as paint-free motors that deliver superior performance to withstand caustic chemicals and high water pressures in the F&B space.
High-quality Alloy Steel Minimizes Production Costs and Material Deficiencies
Rolled steel motors have a stabilized market growth in the HVAC (heating, ventilation, and air conditioning) sector. HVAC systems are becoming increasingly mainstream in new real estate and construction projects. However, the choice of materials for manufacturing these motors can pose as a tricky challenge for manufacturers in the rolled steel motor market.
For instance, the shaft is one of the main components in a rolled steel motor, which greatly affects the rotational capabilities of the system. However, the precise designing and prototyping of a shaft is a major challenge for manufacturers. This challenge increases the cost of production and results in material deficiencies. To overcome this challenge, manufacturers are developing motors with alloy steel, such as nickel-chromium or chromium-vanadium steel, to develop shafts with high strength. Also, medium carbon and medium tensile steel offer increased toughness and wear resistance in rolled steel motors.
Stuck in a neck-to-neck competition with other brands? Request a custom report on Rolled Steel Motor Market
Analysts’ Viewpoint on Rolled Steel Motor Market
The Asia Pacific region accounts for the highest production in the global rolled steel motor market, and is projected for an estimated output of ~32,300 thousand units by 2027. Due to exemption on custom duties for the manufacturing of steel products in India, market players can increase their production capacities in a rapidly growing economy like India. Manufacturers are increasing their production capabilities of motors made from hot-rolled plain carbon steel, as they cost much less than motors made from cold-rolled sulfurized steel. However, hot-rolled materials need to be larger in size than cold-rolled steel to gain outer diameter (OD) control in the rolling process. Manufacturers should develop strategic tie-ups with stakeholders in the HVAC landscape, as HVAC systems have become the required industry standard for the construction of new buildings.
Rolled Steel Motor Market: Definition/Overview
- Rolled steel motor frame housing and feet are made from rolled steel.
- Rolled steel motors are used across residential and commercial sectors in different applications.
- A rolled steel motor is normally lighter and cooler than cast iron, which increases its demand in different industry verticals.
- The global rolled steel motor market is projected to increase at a CAGR of ~6%, from ~US$ 8.4 Bn in 2018 to ~US$ 14.3 Bn by 2027-end.
Global Rolled Steel Motor Market: Regional Overview
- Asia Pacific is likely to be the most attractive region in the global rolled steel motor market during the forecast period, due to growing urbanization and increasing development of mid-sized cities (Tier II or Tier III), and expansion of a number of fast food outlets that provide quick services to customers.
- Increase in the number of corporate houses and manufacturing industries is expected to drive the rolled steel motor market. Rolled steel motors are used in numerous application areas such as power generation, HVAC, marine, and mining. Thus, the rolled steel motor market is anticipated to witness significant growth in the near future.
Global Rolled Steel Motor Market: Trends
- Supporting government initiatives in developing countries such as China, India, Mexico, Brazil, and South Africa are driving companies to invest in these regions to set up their manufacturing units. Rolled steel motor sales are likely to increase in developing countries as a result of growth in manufacturing and the increased production of equipment.
- Developing countries are easing their tax policies and allowing companies to set up their business in special economic zones to propel their economic growth. Additionally, cheap labor is driving companies to set up their plants in developing economies.
- As per a 'Bureau of Labor and Statistics' report, more than 8.3 million combined units of HVAC equipment were shipped across the globe in 2018. Employment generation from the heating, air conditioning, and refrigeration mechanics industry is also growing extensively. Employment in this segment is expected to grow 15% from 2016 to 2026, which is expected to boost the growth of the rolled steel motor market.
Global Rolled Steel Motor Market: Drivers, Opportunities, and Restraints
- Manufacturing activity is witnessing growth revival in developing economies such as Brazil, China, India, South Africa, and Turkey, where motor manufacturers may not have a presence. This can be seen as a potential growth opportunity to introduce rolled steel products in these markets, leading to high impact over the forecast period.
- Manufacturers prefer to use equipment that optimizes the use of their resources, and automated equipment helps achieve this very objective. Rolled steel motors are preferred in automated equipment, and this factor is anticipated to boost the sales of rolled steel motors in the coming years.
- The demand for cast iron and aluminum rolled motors is also increasing significantly. The heavy machinery industry prefers cast iron products more than rolled steel ones. Moreover, cast iron motors have high machinability, good wear resistance, as well as good vibration damping ability, which boosts their usage in the manufacturing segment.
Global Rolled Steel Motor Market: Competition Landscape
- The global rolled steel motor market is a highly competitive market space, with the presence of several global and regional players.
- Companies are investing in product innovation to increase their customer base.
- Rolled steel motor market players are also focusing on bring out new, improved products in this market space to increase their share in this landscape.
- Some of the key players operating in this market are
- ABB Ltd.
- Rockwell Automation
- Regal Beloit
- CG Power and Industrial Solutions Limited
- General Electric
- Nidec Motor
- besides others.
Rolled Steel Motor Market – Scope of the Report
Transparency Market Research’s recent report on the global rolled steel motor market, with the help of a comprehensive outlook, provides readers with an assessment of the global rolled steel motor market landscape. This study on the rolled steel motor market analyzes the scenario for the period of 2019 to 2027, wherein, 2018 is the base year and 2017 and earlier is historical data. The report enables readers to make important decisions with regard to their business, with the help of a wealth of information enclosed in the study.
This TMR study on the rolled steel motor market provides data on the developments undertaken by important players and stakeholders in the market, along with a competitive analysis. The report also provides an understanding of the strengths, weaknesses, threats, and opportunities, along with the trends and restraints in the landscape. Presented in a clear sanctioned manner, this report on the global rolled steel motor market gives readers an individual understanding of the said market.
This study discusses the underlying trends and impact of various factors that are driving the global rolled steel motor market, along with their influence on the evolution of the market. This TRM study also offers Porter’s Five Force Analysis, value chain analysis, price trend analysis, and SWOT analysis of the global rolled steel motor market, in order to highlight the crucial growth tactics and opportunities for market players in the landscape.
Key Questions Answered in This Report on the Rolled Steel Motor Market
- How much revenue will the rolled steel motor market generate by the end of the forecast period (2027)?
- Which type of rolled steel motor is likely to gain the maximum market share by 2027?
- What regions currently contribute the maximum share to the overall rolled steel motor market?
- What are the indicators expected to drive the global rolled steel motor market?
- Which region is likely to be a lucrative regional market during the forecast period?
- What are the essential strategies incorporated by key stakeholders in the global rolled steel motor market to expand their geographical presence?
- What are the major advancements being witnessed in the global rolled steel motor market?
This report answers these questions and more about the global rolled steel motor market, aiding major stakeholders, key players, and also those planning to enter this market space, in making the right decisions and strategizing for the advancement of their business.
Global Rolled Steel Motor Market – Research Methodology
This TMR report on the global rolled steel motor market is based on a complete and comprehensive evaluation of the market, backed by secondary and primary sources. The competitive scenario of the global rolled steel motor market is supported by an assessment of different factors that influence the market on a minute and granular level. By thoroughly analyzing the historical data and current trends, researchers of the global rolled steel motor market arrive at predictions and estimations, and calculate the forecasts for the said market.
The report uses an analytical triangulation method to estimate the numbers and figures of the global rolled steel motor market, with both, a bottom-up and top-down approach.
Global Rolled Steel Motor Market – Segmentation
The report on the global rolled steel motor market provides information based on important segments, on the basis of phase, power, industry, and region.
0 kW - 7.5 kW
7.5 kW - 15.5 kW
15.5 kW - 29.5 kW
Above 29.5 kW
Food & Beverages
Pulp & Paper
Rubber & Plastics
Middle East & Africa