Report Overview:
The global Electric Motor Core Market is estimated to be valued at US$ 18.97
billion in 2023 and is expected to exhibit a CAGR of 8.4% over the forecast
period 2023 to 2030, as highlighted in a new report published by Coherent
Market Insights.
Market Overview:
Electric motor cores are an integral part of motors that help convert
electrical energy into mechanical energy. They contain wires that carry
electric current and generate a rotating magnetic field for smooth operation of
motors. Electric motor cores help improve motor efficiency and torque
generation.
Market key trends:
One of the key trends in the electric motor core market is the growing adoption
of permanent magnet synchronous motors. Permanent magnet synchronous motors use
permanent magnets to generate the magnetic field instead of fields weakened by
stator currents. They offer improved efficiency, reduced noise, and size
compared to traditional induction motors. These properties have supported their
adoption in various applications such as HVAC systems, electric vehicles,
industrial machinery and so on.
Segment Analysis
The electric motor core market is segmented into winding type, material, motor
type, and end-use industry. The winding type segment is further divided into
slot winding and wave winding. The slot winding segment held the largest market
share in 2023 owing to its associated benefits such as high efficiency, low
cost, and ease of manufacturing.
Key Takeaways
The global electric motor core market is expected to witness high growth,
exhibiting CAGR of 8.4% over the forecast period, 2023 to 2030, due to
increasing adoption of electric vehicles.
Regional analysis
The North America region dominated the
electric
motor core market with a share of over 35% in 2023 led by the
increasing electrification of vehicles in the US. Asia Pacific is expected to
be the fastest-growing regional market over the forecast period owing to high
sales of electric vehicles in China.
Key players
Key players operating in the electric motor core market are Johnson &
Johnson (DePuy Synthes), Medtronic plc, Stryker Corporation, Zimmer Biomet
Holdings, Inc., Smith & Nephew plc, NuVasive, Inc., Globus Medical, Inc.,
Wright Medical Group N.V., Arthrex, Inc., DJO Global, Inc., Össur hf., CONMED
Corporation, Breg, Inc., Orthofix Medical Inc., Bioventus LLC. Johnson &
Johnson is currently the market leader with its wide range of electric motor
cores used across various end-use industries.
Read More:
https://www.dailyprbulletin.com/electric-motor-magnet-market-efficiency-connected-with-advanced-cooling-system-outline-as-market-heading/
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