Global In-Wheel Motor Market Would Foresee a CAGR of 37.2% from 2021 to 2028 Achieving the Market Size of USD 6.6 Billion by 2028. The market for in-wheel motors is likely to be driven by rising environmental concerns such as global warming, deterioration of naturally existing resources, and air and noise pollution in the coming years. The Global In-Wheel Motors Research report offers a comprehensive analysis of the industry. The research includes a detailed analysis of key segments, trends, drivers, challenges, the competitive landscape, and other important market dynamics.
In-wheel Motors are essentially an EV (electric vehicle)-powered system. It's used to boost the performance of a variety of electric vehicles. In this type, the motors are directly mounted on the wheels to energize the wheel directly by supplying the torque to the associated tires. Driveshaft, transmissions, differentials, and axles are all replaced by these systems. It boosts the vehicle designer's feasibility, improves efficiency, and minimizes weight.
Based on the propulsion, the market is classified into FCEV, HEV, BEV, and PHEV. Based on the motor type, the market is bifurcated into Radial Flux Motor and Axial Flux Motor. Based on the motor type, the market is sub-divided into Passenger cars and commercial vehicles. Based on the cooling type, the market is classified into Liquid Cooling and Air Cooling. Based on the power type, the market is bifurcated into Up-to 60 KW, 60-90 KW, and Above 90 KW.
The global in-wheel market is segmented into: Propulsion, Motor Type, Vehicle Type, Cooling Type, Power Type, and Geography. The market is divided into FCEV, HEV, BEV, and PHEV segments based on propulsion. The BEV category is predicted to account for the majority of the market. The variables can be linked to the expanding vehicle range as well as the availability of stronger government subsidies and assistance. By motor type, the market is divided into two types of motors: Radial Flux Motor and Axial Flux Motor. Because of its high efficiency, shorter axial length, and high power density, the axial Flux Motor segment is expected to grow at the fastest rate during the forecasted period. The market is segmented into passenger automobiles and commercial vehicles based on the types of vehicle. The market is divided into two types of cooling: liquid cooling and air cooling. The market is divided into three categories based on the power type: Up to 60 KW, 60-90 KW, and Above 90 KW. By Geography, the global in-wheel motor market is segmented into: North America, Europe, APAC and Rest of the World (RoW). Due to massive government subsidies for the electrification of automobiles in countries like China, the Asia Pacific region will have the highest share of the market. The key countries across these geographies are also covered under the scope of the study.
Some of the prominent players operating in the global in-wheel motor market are Volkswagen, Nissan Motor Corporation, ZIEHL-ABEGG, Bayerische Motoren Werke AG, Tesla, Inc., Printed Motor Works, NTN, Ford Motor Company, Elaphe, Protean Electric, and BYD Auto Co. among others.
Scope of Global In-Wheel Motors Market, 2019 - 2028
In-Wheel Motors Market By Propulsion, 2019 - 2028
In-Wheel Motors Market By Motor Type, 2019 - 2028
In-Wheel Motors Market By Vehicle Type, 2019 - 2028
In-Wheel Motors Market By Cooling Type, 2019 - 2028
In-Wheel Motors Market By Power Type, 2019 - 2028
In Wheel Motors Market By Geography, 2019 – 2028