Global automotive and magnetic core market growth

The global market for automotive components and metal magnetic cores is projected to experience significant growth through 2031, driven largely by the transition to electric vehicles, renewable energy systems, and advanced communication infrastructure.

In the automotive sector, the market for intermediate shafts is expected to reach $1.935 billion by 2031, growing at a CAGR of 3.1% from 2025. Concurrently, the market for automotive drive motor cores is anticipated to expand much more rapidly, with a projected CAGR of 15.9% to reach $9.98 billion by 2031. Key industry players include JTEKT and Mitsui High-tec.

Separately, the global metal magnetic core market is forecasted to reach $2.07 billion by 2031, growing at a CAGR of 13.5% from 2025. This sector is seeing a technical shift toward high-frequency, compact, and low-loss materials, such as nanocrystalline and amorphous powders. The Asia-Pacific region, specifically China, Japan, and South Korea, currently leads in both manufacturing and demand.