Automotive Traction Motor Core Market Summary
The Automotive Traction Motor Core refers to a critical component used in the construction of traction motors for electric vehicles (EVs). Traction motors are responsible for converting electrical energy into mechanical energy to propel the vehicle. The core is a key part of the motor's stator, which is the stationary component of the motor that surrounds the rotor. The core typically consists of a stack of laminated steel sheets or cores, which are precision-cut and stacked together. These laminations are made of high-grade electrical steel with specific magnetic properties to minimize energy losses and maximize motor efficiency. The core's design and construction play a crucial role in determining the motor's performance, efficiency, and overall effectiveness.
According to the new market research report "Global Automotive Traction Motor Core Market Report 2023-2029", published by QYResearch, the global Automotive Traction Motor Core market size is projected to grow from USD 3,104.96 million in 2023 to USD 13,256.48 million by 2029, at a CAGR of 27.37% during the forecast period.
Figure. Global Automotive Traction Motor Core Market Size (US$ Million), 2018-2029
Based on or includes research from QYResearch: Global Automotive Traction Motor Core Market Report 2023-2029.
Market Drivers:
1. Rapid Growth of Electric Vehicle (EV) Market: The increasing adoption of electric vehicles worldwide is a primary driver for the automotive traction motor core market. As governments implement stricter emission regulations and consumers demand cleaner and more sustainable transportation options, automakers are investing heavily in electric vehicle development. This surge in EV production translates into growing demand for traction motor cores to power electric drivetrains.
2. Advancements in Motor Technology: Ongoing advancements in motor technology, including improvements in efficiency, power density, and thermal management, are creating opportunities for innovation in traction motor core design. Manufacturers are developing new core materials, such as advanced electrical steels and permanent magnets, to enhance motor performance and efficiency, driving demand for specialized traction motor cores tailored to these applications.
Restraint:
1. Material Sourcing and Cost Pressures: Traction motor cores require high-quality materials with specific magnetic properties to ensure optimal performance and efficiency. Fluctuations in the prices of raw materials such as electrical steel, rare-earth magnets, and copper can impact production costs and profit margins for traction motor core manufacturers. Securing a stable and cost-effective supply of materials is a key challenge in the market.
Figure. Global Automotive Traction Motor Core Top 5 Players Ranking and Market Share（Continually updated）
Based on or includes research from QYResearch: Global Automotive Traction Motor Core Market Report 2023-2029.
This report profiles key players of Automotive Traction Motor Core such as Mitsui High-tec, POSCO, EUROTRANCIATURA, Tempel Steel Co, Hidria.
In 2022, the global top five Automotive Traction Motor Core players account for 70.29 % of market share in terms of revenue. Above figure shows the key players ranked by revenue in Automotive Traction Motor Core.
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