Automotive component markets for motor cores and shafts projected to grow through 2031

The global automotive component market is seeing significant shifts driven by the transition to electric and hybrid vehicles. According to reports from Global Info Research, the market for automotive intermediate shafts is projected to reach $1.935 billion by 2031, growing at a CAGR of 3.1% from 2025. These components, essential for power transmission in both internal combustion and electric drivetrains, require increasing precision and lightweighting to meet new efficiency standards.

Simultaneously, the market for automotive drive motor cores is experiencing much more rapid growth. This sector is expected to expand at a CAGR of 15.9% between 2025 and 2031, reaching a projected value of $9.98 billion by 2031. As the heart of electric vehicle motors, these cores are critical for energy conversion efficiency and vehicle range.

Key industry players include JTEKT, which holds a leading share in the intermediate shaft market through high-precision processing, and Mitsui High-tec, a leader in the motor core sector known for advanced pressing technologies. Other major global competitors include ThyssenKrupp, NSK, and POSCO.