Electric Vehicle Drive Motor Cores Market size was valued at USD 8.6 Billion in 2024 and is forecasted to grow at a CAGR of 15.7% from 2026 to 2033, reaching USD 30.7 Billion by 2033.
The global Electric Vehicle Drive Motor Cores Market was valued at approximately USD 5.8 billion in 2022 and is projected to grow at a compound annual growth rate (CAGR) of around 15.4% from 2022 to 2030. The market growth is driven by the increasing adoption of electric vehicles (EVs) worldwide, supported by government incentives and stringent emission regulations. Rising consumer preference for eco friendly transportation solutions and advancements in electric drive motor technologies are further propelling market demand. Additionally, the ongoing shift from internal combustion engines to electric propulsion systems in passenger cars and commercial vehicles is fueling the growth of the market. Technological advancements in drive motor core materials and manufacturing processes have also contributed to enhancing motor efficiency and performance, thus boosting market expansion.
Regionally, Asia Pacific held the largest market share in 2022, accounting for over 40% of the global revenue. This dominance is attributed to the presence of major EV manufacturing hubs, particularly in China, Japan, and South Korea, as well as supportive government policies promoting electric mobility. Europe emerged as the second largest market, driven by the European Union’s focus on reducing carbon emissions and increasing the adoption of electric and hybrid vehicles. North America is also experiencing significant growth, supported by rising investments in EV infrastructure and technological innovation. Emerging markets in Latin America and the Middle East & Africa are expected to witness moderate growth due to increasing awareness of sustainable transportation and gradual adoption of electric vehicles. The market’s growth trajectory in these regions is anticipated to strengthen with advancements in energy storage and electric propulsion technologies.
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Mitsui High-tec
Yutaka Giken
Kienle Spiess
Shiri Electromechanical Technology
Tempel Steel
Toyota Boshoku
Suzhou Fine-stamping
Foshan Pulizi Core
POSCO
Kuroda Precision
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Electric Vehicle Drive Motor Cores Market
Permanent Magnet Synchronous Motor (PMSM)
Induction Motor
Switched Reluctance Motor (SRM)
Passenger Vehicles
Commercial Vehicles
Two-Wheelers
Other Electric Vehicles
Low Voltage (Up to 400V)
High Voltage (Above 400V)
Low Power (Up to 50 kW)
Medium Power (50 kW to 150 kW)
High Power (Above 150 kW)
Silicon Steel
Alloy Steel
Soft Magnetic Composites (SMC)
US (United States, US and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Electric Vehicle Drive Motor Cores Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Electric Vehicle Drive Motor Cores Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Electric Vehicle Drive Motor Cores Market, By Type
6. Global Electric Vehicle Drive Motor Cores Market, By Application
7. Global Electric Vehicle Drive Motor Cores Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. Global Electric Vehicle Drive Motor Cores Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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