Global Automotive Motor Core Market to Grow at 11.9% CAGR Through 2032

global Automotive Motor Core market was valued at USD 1,951 million in 2024 and is projected to reach USD 4,487 million by 2032, expanding at a robust CAGR of 11.9% during the forecast period (2025–2032). Market growth is strongly driven by the rapid global shift toward electric and hybrid vehicles, rising demand for high-efficiency drive motors, and continuous advancements in motor core materials and manufacturing technologies. Increasing EV production volumes, particularly in Asia-Pacific, and the need for lightweight, low-loss, and high-power-density motors are further accelerating demand.