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In this paper, we describe the applicability of algebraic multigrid method (AMG method) as a fast solution for magnetic field analysis of an electric machine with a laminated core. In an experimental analysis, we have found that there are some cases where the calculation speed can be improved by using the AMG method for a fine mesh that models a laminated iron core exactly. Therefore we investigated the convergence characteristic of the standard incomplete Cholesky conjugate gradient method (standard ICCG method) and the conjugate gradient method preconditioned with AMG method (AMGCG method) for the simple and actual analysis models. The numerical results show that the AMGCG method provides fast solutions for laminated mesh models for which the standard ICCG method does not work well in many analysis cases.