According to a new report from Intel Market Research, Global Automotive Motor Core market was valued at USD 1,951 million in 2024 and is projected to reach USD 4,487 million by 2032, growing at a robust CAGR of 11.9% during the forecast period (2025–2032).

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This significant growth is propelled by the rapid global transition to electric vehicles, increasing demand for high-efficiency drive motors, and continuous advancements in motor core manufacturing technologies.

What is an Automotive Motor Core?

An Automotive Motor Core refers specifically to the drive motor core, which is one of the core components in the drive motors of electric vehicles (EVs) and hybrid electric vehicles (HEVs). These cores are primarily used in the stator and rotor assemblies of the motor. They are typically manufactured by stacking highly magnetic silicon steel sheets (also known as electrical steel sheets), a material chosen for its excellent electromagnetic properties and low iron loss characteristics that significantly enhance motor efficiency and power density.

The primary function of the drive motor core is to guide magnetic flux during motor operation, minimize magnetic flux loss, and establish a strong magnetic field between the stator and rotor. This process is fundamental to converting electrical energy into mechanical energy. The manufacturing processes including precision stamping, meticulous lamination, and critical insulation treatment directly impact the motor's overall performance, noise levels, and heat dissipation efficiency. As the new energy vehicle market expands, the development of efficient, lightweight, and low-loss drive motor cores has become a central focus of motor technology innovation.Key Market Drivers

1. Explosive Growth in New Energy Vehicle Production

The single most powerful driver for the automotive motor core market is the unprecedented global expansion of the new energy vehicle sector. China, as the world's largest automobile market, demonstrates this trend most dramatically. In 2023, China's new energy vehicle production reached 9.587 million units, with sales hitting 9.495 million units, representing year-on-year growth of 35.8% and 37.9% respectively. This massive production scale directly translates into enormous demand for high-quality drive motor cores, as every electric vehicle requires one or more of these critical components.

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2. Technological Advancements in Material Science and Manufacturing

Manufacturers are continuously pushing the boundaries of material science to improve motor performance. While silicon steel remains the dominant material, research and development efforts are exploring alternatives including amorphous alloys and soft ferrites to achieve higher efficiency standards. Furthermore, the industry is moving toward thinner silicon steel sheets to reduce eddy current losses. This pursuit of higher efficiency and increased operational speeds has led to advanced manufacturing techniques like self-bonding technology, which ensures structural integrity in core stacking particularly important when working with ultra-thin materials that present challenges in assembly and stacking processes.

3. Regional Manufacturing Leadership and Capacity Expansion

At the regional level, China's automotive motor core market has demonstrated remarkable transformation, currently accounting for approximately 50% of the global market share. Industry projections suggest this share could reach 54% by 2030, cementing China's position as both the largest and fastest-growing market for these components. This regional dominance is supported by extensive manufacturing infrastructure, government support for the EV industry, and proximity to the world's largest concentration of EV production facilities.

Market Challenges

• Market maturation and growth normalization: While the new energy vehicle market has experienced explosive growth, industry observers note a gradual stabilization since 2024. This maturation suggests that the automotive motor core market will also experience a natural slowing of its growth trajectory in the coming years as the initial adoption wave plateaus.
• Increasing cost pressures: As EV manufacturers face competitive pricing pressures, component suppliers including motor core manufacturers are experiencing intensified demands for cost reduction while maintaining or improving performance characteristics.
• Technical complexity of advanced materials: The transition to thinner silicon steel sheets and alternative materials presents manufacturing challenges, particularly in maintaining structural integrity and ensuring consistent quality in high-volume production environments.
• Supply chain vulnerabilities: The concentration of manufacturing in specific regions creates potential vulnerabilities in the global supply chain, particularly for regions with limited domestic production capabilities.

Opportunities Ahead

Despite approaching normalization in growth rates, the automotive motor core market presents substantial opportunities for innovation and expansion. The global transition toward electric mobility continues to gain momentum, supported by environmental regulations, consumer adoption, and infrastructure development. This creates several promising pathways for market participants:

• Technology diversification: Continued research into alternative materials and manufacturing processes presents opportunities for companies that can develop proprietary technologies offering performance or cost advantages.
• Geographical expansion: While China currently dominates production, other regions are developing their EV manufacturing capabilities, creating opportunities for motor core suppliers to establish presence in emerging manufacturing hubs.
• Application broadening: Beyond passenger vehicles, the electrification of commercial vehicles, industrial equipment, and other transportation sectors opens additional markets for motor core technologies.
• Integration partnerships: Opportunities exist for closer collaboration with motor and vehicle manufacturers to develop integrated solutions that optimize overall system performance.

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Regional Market Insights

• Asia-Pacific: Dominates the global market, led by China's unprecedented EV manufacturing scale. The region benefits from complete supply chains, government support, and the world's largest consumer market for electric vehicles. China's position is expected to strengthen further, potentially reaching 54% global market share by 2030.
• Europe: Shows strong growth driven by stringent emissions regulations and substantial government incentives for EV adoption. European manufacturers are particularly focused on high-performance and premium vehicle segments, creating demand for advanced motor technologies.
• North America: Experiencing rapid market expansion supported by new manufacturing investments and evolving regulatory landscapes. The region is developing its domestic supply chain capabilities to reduce dependence on imports.
• Rest of World: Emerging markets in Latin America, Middle East, and Africa are in earlier stages of EV adoption but present long-term growth potential as infrastructure develops and consumer acceptance increases.

Market Segmentation

By Type

• Welded motor core
• Interlocking motor core
• Buckle stack motor core
• Bonding motor core

By Application

• New Energy Vehicles (NEV)
• Plug-in Hybrid Electric Vehicles (PHEV)

By Region

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East & Africa

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Competitive Landscape

The automotive motor core market features a mix of established industrial manufacturers and specialized technology companies. The competitive environment is characterized by continuous technological innovation, with participants focusing on material advancements, manufacturing process improvements, and cost optimization. While the market includes global players, regional champions have emerged, particularly in Asia where manufacturing scale provides significant advantages.

The report provides detailed competitive profiling of key industry participants, including:

• Mitsui High-tec
• Fine-Stamping
• JFE
• Zhejiang Shiri Electromechanical Technology
• r.bourgeois
• Jiangsu Lianbo Precision Technology
• ChangyingXinzhi
• YONGRONG Power
• POSCO
• Foshan Precision Power Technology
• XLDJ

Report Deliverables

• Global and regional market forecasts from 2025 to 2032
• Strategic insights into technological developments, manufacturing innovations, and regulatory impacts
• Market share analysis and comprehensive SWOT assessments of key players
• Pricing trend analysis and cost structure examination
• Detailed segmentation by type, application, and geography with development potential assessment
• Supply chain analysis and raw material sourcing insights
• Manufacturing capacity analysis by region and company

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About Intel Market Research

Intel Market Research is a leading provider of strategic intelligence, offering actionable insights in automotive technology, industrial manufacturing, and emerging transportation technologies. Our research capabilities include:

• Real-time competitive benchmarking
• Global manufacturing capacity and technology monitoring
• Region-specific regulatory and supply chain analysis
• Over 500+ industrial and technology reports annually

Trusted by Fortune 500 companies, our insights empower decision-makers to drive innovation with confidence.

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