Traction Motor Core Market Share Driven by Electric Vehicle Adoption and Advanced Motor Technologies | Valuates Reports

Traction Motor Core Market Size
The global market for 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 Traction Motor Core Market is witnessing steady market growth as electrification reshapes the global automotive and mobility landscape. Rising adoption of electric powertrains across passenger and commercial vehicles is driving demand for high-efficiency motor components that directly influence performance, energy efficiency, and thermal management. Ongoing technology advancements in motor design, lightweight materials, and precision manufacturing are reshaping market trends, while automakers increasingly prioritize compact, high-power-density traction systems. Regulatory pressure to reduce vehicle emissions and the shift toward sustainable transportation continue to expand the market size, reinforcing long-term demand for traction motor cores.

By type, Permanent Magnet Motor Cores account for the largest market share, supported by their superior power density, high efficiency, and strong suitability for modern electric drivetrains. These cores are widely adopted in advanced traction motors due to their ability to deliver consistent torque and improved range performance. AC Induction Motor Cores continue to maintain a meaningful presence, particularly in applications where durability, cost efficiency, and reduced reliance on rare-earth materials are prioritized. Ongoing innovation across both motor core types is shaping competitive dynamics and influencing overall market growth.

From an application perspective, Battery Electric Vehicles lead the market share, reflecting accelerating consumer acceptance and strong manufacturer focus on fully electric platforms. Demand from this segment is supported by continuous expansion of charging infrastructure and advancements in battery and motor integration. Plug-in Hybrid Electric Vehicles and Hybrid Electric Vehicles contribute steadily to market growth by bridging the transition toward full electrification, while Fuel Cell Electric Vehicles represent a developing application area where high-efficiency traction motor cores are essential for optimized power delivery and system reliability.

The competitive landscape of the Traction Motor Core Market is defined by established manufacturers and specialized precision-stamping companies with strong engineering capabilities. Key players such as Mitsui High-tec, EUROTRANCIATURA, POSCO, Tempel Steel, and Feintool hold significant market share through advanced manufacturing processes, material innovation, and long-term partnerships with global automotive OEMs. Companies including Suzhou Fine-stamping, Hidria, Yutaka Giken, and JFE Shoji are expanding their presence by enhancing production efficiency and supporting next-generation electric drivetrains. Strategic investments in automation, tooling accuracy, and core design optimization continue to strengthen competitive positioning.

Regionally, Asia-Pacific dominates the market size, driven by large-scale electric vehicle manufacturing, strong supply chains, and rapid technology adoption in countries such as China, Japan, and South Korea. Europe follows with robust market growth supported by stringent emission regulations and accelerating electrification strategies among automakers. North America maintains a solid market share through increasing electric vehicle penetration and investments in advanced motor technologies, while Southeast Asia and Latin America are emerging as growth regions due to expanding automotive manufacturing and rising adoption of electrified mobility. The market forecast remains positive, with continued innovation in motor efficiency, capacity expansion by key suppliers, and sustained regulatory support expected to reinforce long-term market growth and evolving market trends.

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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This release was published on openPR.