Global In-Wheel Motors Market, By Components (Suspension, Rotor and Stator, Wheel Bearings, Regenerative Braking System), Cooling Type (Air Cooling, Liquid Cooling), Motor Type (Axial Flux Motor, Radial Flux Motor), Power Output (Up to 60 KW, 60-90 KW, Above 90 KW), Propulsion Type (Battery Electric Vehicle (BEV), Fuel Cell Electric Vehicle (FCEV), Hybrid Electric Vehicle (HEV), Plug-In Hybrid Electric Vehicle (PHEV)), Vehicle Type (Passenger Cars, Commercial Vehicle), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
In-Wheel Motors Market Analysis and Insights : Global In-Wheel Motors Market
The in-wheel motors market size is valued at USD 6,464.48 million by 2028 and is expected to grow at a compound annual growth rate of 32.85% over the forecast period of 2021 to 2028. Data Bridge Market Research report on in-wheel motors market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecasted period while providing their impacts on the market’s growth.
The in-wheel motors are largely engaged in providing different torques to different wheels resulting in noticeably improved handling and constancy during high speeds. In-wheel motors also help in increasing the overall competence of the vehicle by approx.
The in-wheel motors market has a huge potential and is expected grow over the forecast period of 2021 to 2028, owing to the reduce weight and provides more space. In addition, the increased simplicity and efficiency of vehicle and the ability of in-wheel motors to progress the performance of electric vehicles by supplying torque to their associated tires are also largely influencing the growth of the in-wheel motors market. Also these motors generate high power to enhance the electric vehicles’ efficiency which is another driver anticipated to flourish the in-wheel motors market growth. Additionally, the wide range of different vehicles featuring in-wheel motors and the rise in popularity of electric vehicles across the world are also expected to boost the growth of the in-wheel motors market in the above mentioned forecast period.
However, the market of in-wheel motors though has certain limitations which are expected to obstruct the potential growth of the market such as the high cost and rise in unsprung weight in wheel, whereas the various complexity in controlling individual wheel speed can challenge the growth of the in-wheel motors market in the above mentioned forecast period.
In addition, the rise in the trend of autonomous technology in vehicle along with the rapid increase in the penetration of electric vehicle across the globe are projected to offer various growth opportunities for the in-wheel motors market in the forecast period of 2021 to 2028.
This in-wheel motors market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on in-wheel motors market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global In-Wheel Motors Market Scope and Market Size
- The in-wheel motors market is segmented on the basis of components, cooling type, motor type, power output, propulsion type and vehicle type. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- The in-wheel motors market is segmented on the basis of components into suspension, rotor and stator, wheel bearings and regenerative braking system.
- Based on cooling type, the in-wheel motors market is segmented into air cooling and liquid cooling.
- On the basis of motor type, the in-wheel motors market is segmented into axial flux motor and radial flux motor.
- Based on power output, the in-wheel motors market is segmented into up to 60 kW, 60-90 kW and above 90 kW.
- On the basis of propulsion type, the in-wheel motors market is segmented into battery electric vehicle (BEV), fuel cell electric vehicle (FCEV), hybrid electric vehicle (HEV) and plug-in hybrid electric vehicle (PHEV).
- Based on vehicle type, the in-wheel motors market is segmented into passenger cars and commercial vehicle.
In-Wheel Motors Market Country Level Analysis
The in-wheel motors market is analyzed and market size, volume information is provided by country, components, cooling type, motor type, power output, propulsion type and vehicle type as referenced above.
The countries covered in the in-wheel motors market report are U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA)as a part of Middle East and Africa (MEA).
Europe leads the in-wheel motors market because of the strict emission norms and regulations and high investments by prominent vehicle OEMs. North America is expected to expand at a significant growth rate over the forecast period of 2021 to 2028 due to rapid increase in the sales of electric vehicles supported by government schemes and incentives.
The country section of the in-wheel motors market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and In-Wheel Motors Market Share Analysis
The in-wheel motors market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, regional presence, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to in-wheel motors market.
The major players covered in the in-wheel motors market report are Protean, Elaphe Propulsion Technologies Ltd., ZIEHL-ABEGG, Printed Motor Works, NTN Corporation, e-Traction B.V., DANA TM4 INC., ECOMOVE, NSK Ltd., TAJIMA MOTOR CORPORATION, YASA Limited, Schaeffler India Limited, Tesla, Ford Motor Company, BMW AG, MICHELIN, GEM motors d.o.o., HYUNDAI TRANSYS, ORBIS Wheels, Inc., and Volkswagen among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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