Automotive Traction Motor Core Market Share Driven by Electrification of Powertrains and Efficiency Optimization | Valuates Reports

Automotive Traction Motor Core Market Size
The global market for Automotive Traction Motor Core was valued at US$ 3842 million in the year 2024 and is projected to reach a revised size of US$ 9212 million by 2031, growing at a CAGR of 13.5% during the forecast period.

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The Automotive Traction Motor Core Market is expanding steadily as global automotive manufacturers accelerate the shift toward electrified powertrains. Rising adoption of electric and hybrid vehicles is reshaping market trends, with strong emphasis on motor efficiency, power density, and thermal performance. Advancements in electrical steel processing, precision stamping, and core lamination technologies are contributing to improved motor performance, directly influencing market size and long-term market growth as automakers prioritize range optimization and energy efficiency.

By type, permanent magnet motor cores hold the dominant market share due to their superior efficiency, compact design, and widespread use in modern electric vehicle architectures. These cores are extensively adopted in high-performance traction motors where power-to-weight ratio is critical. AC induction motor cores continue to serve important roles in specific vehicle platforms, particularly where cost control, durability, and material flexibility are prioritized, while also showing steady market growth through incremental design enhancements.

From an application standpoint, battery electric vehicles (BEVs) represent the largest share of demand, driven by full electrification strategies and increasing vehicle production volumes. Plug-in hybrid electric vehicles (PHEVs) and hybrid electric vehicles (HEVs) maintain strong adoption as transitional solutions, supporting consistent market growth. Fuel cell electric vehicles (FCEVs), while more limited in volume, contribute to innovation-led demand for advanced motor core designs, reinforcing diversification across applications.

The competitive landscape is led by companies such as Mitsui High-tec, POSCO, Tempel Steel, EUROTRANCIATURA, and JFE Shoji, which command significant market share through advanced material capabilities, high-precision manufacturing, and long-term relationships with automotive OEMs. Firms including Suzhou Fine-stamping, Wuxi Longsheng Technology, Feintool, Hidria, and Toyota Boshoku Corporation are strengthening their positions through process automation, localized production strategies, and customized solutions aligned with evolving traction motor designs.

Regionally, Asia-Pacific dominates the global market size, supported by strong electric vehicle manufacturing ecosystems in China, Japan, and South Korea, along with integrated supply chains for electrical steel and motor components. Europe maintains a substantial market share driven by aggressive electrification policies, premium vehicle production, and technological innovation. North America shows consistent market growth as investment in electric vehicle platforms and domestic manufacturing increases. The overall market forecast remains positive, underpinned by continued electrification, advancements in motor core materials, and expanding adoption of next-generation electric mobility solutions across global automotive markets.

by Type

• Permanent Magnet Motor Cores
• AC Induction Motor Cores

by Application

• BEV
• PHEV
• HEV
• FCEV

By Company

Mitsui High-tec, EUROTRANCIATURA, POSCO, Suzhou Fine-stamping, Tempel Steel, Hidria, Yutaka Giken, Wuxi Longsheng Technology, R.Bourgeois, Toyota Boshoku Corporation, Tongda Power Technology, Feintool, Shiri Electromechanical Technology, JFE Shoji

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