Automotive Motor Bonded Cores Market - Global Industry Research Analysis

According to Market Research Store, the global automotive motor bonded cores market size was valued at around USD 182.37 billion in 2023 and is estimated to reach USD 354.13 billion by 2032, to register a CAGR of approximately 6.90% in terms of revenue during the forecast period 2024-2032.

The automotive motor bonded cores report provides a comprehensive analysis of the market, including its size, share, growth trends, revenue details, and other crucial information regarding the target market. It also covers the drivers, restraints, opportunities, and challenges till 2032.

Global Automotive Motor Bonded Cores Market: Overview

Automotive motor bonded cores refer to the magnetic core components used in electric motors, particularly in the automotive industry. These cores are made by bonding soft magnetic materials, such as iron powder, with insulating materials.

The bonding process helps in improving the magnetic properties of the core while reducing eddy current losses, making it highly efficient in energy conversion. This is crucial for electric vehicles (EVs), hybrid vehicles, and conventional automotive applications that require efficient motors. The technology is particularly beneficial for enhancing motor performance, reducing noise, and increasing thermal stability.

Key Highlights

• The automotive motor bonded cores market is anticipated to grow at a CAGR of 6.90% during the forecast period.
• The global automotive motor bonded cores market was estimated to be worth approximately USD 182.37 billion in 2023 and is projected to reach a value of USD 354.13 billion by 2032.
• The growth of the automotive motor bonded cores market is being driven by the rising demand for electric and hybrid vehicles due to stricter emissions regulations and the global shift towards sustainable transportation.
• Based on the type, the Cold Rolled Non-Oriented (CRNO) segment is growing at a high rate and is projected to dominate the market.
• On the basis of application, the Battery Electric Vehicle (BEV) segment is projected to swipe the largest market share.
• By region, Asia-Pacific is expected to dominate the global market during the forecast period.

Automotive Motor Bonded Cores Market: Dynamics

Key Growth Drivers

• Increasing demand for electric vehicles (EVs): As the global shift towards sustainable transportation accelerates, the demand for electric motors, and consequently bonded cores, is rising significantly.
• Advancements in electric motor technology: The development of more efficient and powerful electric motors, often incorporating bonded cores, is driving market growth.
• Focus on energy efficiency: Automotive manufacturers are prioritizing fuel-efficient and environmentally friendly vehicles, making bonded cores a preferred choice due to their lower energy losses compared to traditional laminated cores.

Restraints

• High manufacturing costs: The complex production process of bonded cores, including material sourcing, molding, and curing, can result in higher costs compared to traditional laminations.
• Limited availability of specialized materials: The unique properties required for bonded cores, such as high magnetic permeability and low eddy current losses, may limit material options and increase costs.
• Concerns about long-term durability: While bonded cores offer certain advantages, there may be concerns about their long-term durability and performance under various operating conditions.

Opportunities

• Technological innovations: Continued research and development in materials science and manufacturing processes could lead to improved bonded core performance and reduced costs.
• Expanding applications: Beyond electric vehicles, bonded cores can be used in various automotive applications, such as power steering, HVAC systems, and infotainment electronics.
• Emerging markets: The growing automotive industries in developing regions present significant opportunities for bonded core manufacturers.

Challenges

• Competition from traditional laminations: Bonded cores face competition from well-established laminations, which may have lower upfront costs and a more mature supply chain.
• Supply chain disruptions: Global supply chain issues, including material shortages and transportation challenges, can impact the availability and pricing of bonded core components.
• Regulatory and environmental considerations: Adherence to strict environmental regulations and standards can pose challenges for manufacturers, particularly regarding material sourcing and waste management.

Automotive Motor Bonded Cores Market: Segmentation Insights

The global automotive motor bonded cores market is divided by type, application, and region.

Segmentation Insights by Type

Based on type, the global automotive motor bonded cores market is divided into Cold Rolled Non-Oriented (CRNO) And Cold Rolled Grain-Oriented (CRGO).

Cold Rolled Non-Oriented (CRNO) steel is widely used in automotive motor bonded cores due to its excellent magnetic properties. This type of steel is non-oriented, meaning that its magnetic properties are uniform in all directions. It is commonly used in electric vehicle (EV) motors and other high-performance applications.

The increasing adoption of electric vehicles globally is driving the demand for CRNO, as it offers lower iron loss and better efficiency in motors. As the market for EVs grows, CRNO is expected to remain a dominant material in bonded cores, contributing significantly to the market's growth rate (CAGR).

Cold Rolled Grain-Oriented (CRGO) steel, on the other hand, is known for its grain-oriented structure, which enhances its magnetic properties in a particular direction. This makes it highly suitable for transformers and large electric motors where efficiency is critical.

However, in the automotive sector, especially for bonded cores, CRGO is less prevalent compared to CRNO. Its primary use lies in specialized applications where directional magnetic properties are required. Though its market share is smaller, it continues to play a role in certain niche automotive applications.

Segmentation Insights by Application

On the basis of application, the global automotive motor bonded cores market is bifurcated into BEV And HEV.

Battery Electric Vehicle (BEV) are purely electric vehicles that rely on electric motors powered by batteries. The growth of the BEV segment is one of the major driving forces behind the rising demand for automotive motor bonded cores. BEVs require highly efficient and lightweight motors, which is where bonded cores, particularly those made from CRNO, come into play.

As the push for zero-emission vehicles intensifies, BEVs are expected to dominate the automotive landscape, further accelerating the demand for bonded cores. The BEV segment is anticipated to witness a strong CAGR in the coming years due to increasing government support and consumer adoption.

Hybrid Electric Vehicle (HEV) combine an internal combustion engine with an electric motor, offering both fuel efficiency and reduced emissions. The market for HEVs is growing, though at a slightly slower pace compared to BEVs, as they still rely on traditional fuel sources.

Nevertheless, HEVs require efficient motor cores for optimal performance, and the demand for bonded cores in this segment is also rising. The HEV market is expected to see moderate growth, with steady demand for bonded cores, driven by consumers seeking a balance between electric and traditional vehicles.

Automotive Motor Bonded Cores Market: Report Scope

Automotive Motor Bonded Cores Market: Regional Insights

The Asia Pacific (APAC) region dominates the global automotive motor bonded cores market, driven primarily by the presence of large automotive manufacturing hubs like China, Japan, and South Korea. The rising adoption of electric vehicles (EVs) and hybrid vehicles, particularly in China, has fueled demand for bonded cores used in electric motors. With government policies encouraging EV adoption and advancements in motor core technologies, this region is expected to maintain a high compound annual growth rate (CAGR) through 2032.

In North America, the automotive motor bonded cores market is driven by the growing demand for electric vehicles, particularly in the U.S. Stringent emissions regulations and rising fuel efficiency standards have led to increased investments in electric powertrain technologies, boosting the market for motor cores. North America is expected to witness steady growth in the coming years, with the U.S. being the dominant player in the region​.

Europe is another significant market for automotive motor bonded cores, with countries like Germany, the UK, and France leading the transition towards electric mobility. The European Union's stringent emissions norms and subsidies for electric vehicles are key drivers of market growth. Europe is also home to major automotive manufacturers investing heavily in EV production, contributing to the market's expansion​.

Latin America shows moderate growth in the automotive motor bonded cores market. Brazil is a key market due to its strong automotive manufacturing base. However, the region's growth is slower compared to APAC and Europe due to economic challenges and lower EV adoption rates.

The MEA region has the smallest share in the global market. However, with growing interest in sustainable transport solutions and the gradual introduction of electric vehicles, some countries, such as the UAE and South Africa, are seeing increasing demand for automotive motor bonded cores.

Automotive Motor Bonded Cores Market: Competitive Landscape

The report provides an in-depth analysis of companies operating in the automotive motor bonded cores market, including their geographic presence, business strategies, product offerings, market share, and recent developments. This analysis helps to understand market competition.

Some of the major players in the global automotive motor bonded cores market include:

• Voestalpine
• Waelzholz
• POSCO
• DANCO Precision
• Wingard & Company
• Polaris Laser Laminations
• Mitsui High-tec
• Kuroda Precision

The global automotive motor bonded cores market is segmented as follows:

By Type

• Cold Rolled Non-Oriented (CRNO)
• Cold Rolled Grain-Oriented (CRGO)

By Application

• Battery Electric Vehicle (BEV)
• Hybrid Electric Vehicle (HEV)

By Region

• North America
  • U.S.
  • Canada
• Europe
  • U.K.
  • France
  • Germany
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Rest of Latin America
• The Middle East and Africa
  • GCC Countries
  • South Africa
  • Rest of Middle East Africa

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