Rolled Steel Motor Market 2023-2027: Drivers, Key Players, Competitive Breakdown and Regional Analysis

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.

rolled steel motor market infographic

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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.

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.

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.

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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.