The motor iron core market is concerned with the manufacture of C-shaped, U-shaped or E-shaped laminated core used in motors. The iron core is responsible for generating an electromagnetic field inside the motor, thereby achieving kinetic energy. The main application scenarios include motors for industrial machinery, vehicles, household appliances, etc. The increasing popularity of electric vehicles is a key driver of the electric vehicle core market. Many global automakers are investing heavily in electric vehicles and their production is expected to grow significantly over the forecast period. Electric vehicles require a variety of motors to perform functions such as propulsion and heating systems. In addition, the increase in investment in industrial automation and the popularity of motor drive equipment have also increased the demand for motor cores. Robotic systems and mechanical automation throughout the manufacturing industry rely heavily on electric motors.

The global motor iron core market currently mainly uses advanced materials such as electrical steel. Electrical steel has the advantages of low core loss, high permeability and high strength at high frequencies. This makes it possible to develop highly efficient iron cores for high-speed motors used in automobiles and industrial machinery. In addition, replacing traditional laminated cores with advanced non-laminated iron cores is becoming more and more popular. Non-laminated cores help reduce vortex effects, noise, vibration, and production costs.

Electrical steel iron core provides higher efficiency and strength; Non-laminated iron core reduces noise and vibration. At the same time, the cost of high performance iron core materials is high; The manufacturing technology of non-laminated iron core faces challenges. Growth in electric vehicles and industrial automation driving demand; The demand for non-laminated iron core is increasing in the high-end market. Supply chain disruptions increase raw material costs; Trade barriers affect global procurement.

The global motor iron core market is expected to reach $18.97 billion by 2023, growing at a CAGR of 8.4% during the forecast period. This growth can be attributed to rapid industrialization and increased demand for energy-efficient motors in various industries. From a regional perspective, Asia Pacific dominated the market in 2022 and is likely to maintain its leading position thanks to the strong influence of the automotive and industrial sectors in China, India and Southeast Asian countries.