ELECTRIC MOTOR CORE MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2023 - 2030)

Electric Motor Core Market, By Material Type (Silicon Steel, Cold-Rolled Lamination Steel, Cobalt, Aluminum, and Others), By Motor Type (AC Motors, DC Motors, Hermetic Motors, and Others), By End-use Industry (Automotive, HVAC, Industrial Machinery, Aerospace & Transportation, Household Appliances, and Others), By Geography (North America, Europe, Asia Pacific, Latin America, Middle East and Africa).

Electric Motor Core Market Regional Insights

North America is expected to be the largest market for electric motor core market during the forecast period, accounting for over 37% of the market share in 2023. The growth of the market in North America is due to the well-established automotive and industrial machinery sectors.
The Europe market is expected to be the second-largest market for electric motor core market, accounting for over 25% of the market share in 2023. The growth of the market in Europe is due to the strong presence of OEMs (Original Equipment Manufacturer) and rising adoption of EVs in the region.
The Asia Pacific market is expected to be the fastest-growing market for electric motor core market, with a market share of over 19% during the forecast period. The growth of the market in Asia Pacific is due to rapid industrialization and increasing production of motor vehicles.

Geographies covered:

North America: U.S. and Canada
Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe
Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
Middle East & Africa: GCC Countries, Israel, South Africa, North Africa, and Central Africa and Rest of Middle East