The global in-wheel motors market size will develop at a 32.31% CAGR between the forecast period 2022- 2030, according to the new Market Research Future (MRFR) analysis. In-wheel motors are a form of electric vehicle driven system. The motors are mounted on the wheel directly to energize the wheel directly via supplying the torque to the associated tires.
Various
factors are propelling the global in-wheel motors market share. According to
the recent MRFR market estimates, such factors include innovations in vehicle
development, latest vehicle dynamics, autonomous driving, advances in-wheel
motor technology, rising production of electric cars, increasing penetration in
EVs, increasing environmental awareness such as noise and air pollution,
degradation of naturally occurring resources, and global warming, stringent
emission regulations, the growing popularity of energy-efficient products, and
implementation to reduce vehicle weight by deducting the space that the
machines occupy.
On the
contrary, an increase in unsprung weight in wheel, high price, complex speed
wheel, and the on-going COVID-19 pandemic are factors that may deter the global
in-wheel motors market growth in the region.
In-wheel
Motors Market Key Players
- Schaeffler AG (Germany)
- Nissan Motors Corporation
(Japan)
- Tesla (US)
- e-Traction B.V.
(Netherlands)
- Printed Motors Works (UK)
- ZIEHL-ABEGG (Germany)
- Elaphe Ltd (Slovenia)
- NTN Corporation (Japan)
- Protean Electric (US)
- ECOmove GmbH (Germany)
In-wheel
Motors Market Segmentation
The MRFR
report highlights an inclusive segmental analysis of the global in-wheel motors
market based on cooling type, vehicle type, power output, and motor type.
By motor
type, the global in-wheel motors market is segmented into outer rotor type and
inner rotor type.
By power
output, the global in-wheel motors market is segmented into above 90 KW, 50-90
KW, and up to 50 KW.
By
vehicle type, the global in-wheel motors market is segmented into heavy
commercial vehicles, light commercial vehicles, and passenger cars. Of these,
the passenger cars segment will lead the market over the forecast period.
By
cooling type, the global in-wheel motors market is segmented into liquid
cooling and air cooling.
In-wheel
Motors Market Regional Analysis
By
region, the in-wheel electric motors market covers the growth opportunity and
recent trends across Europe, North America, the Asia Pacific (APAC), & the
Middle East and Africa (MEA). Of these, Europe will have the lion's share in
the market over the forecast period. Investments by top vehicle OEMs, and
stringent emission norms and regulations are adding to the global in-wheel
electric motors market growth in the region.
In the
APAC region, the in-wheel
electric motors market size is predicted to have healthy growth over the
forecast period. Favorable government incentives and schemes, rising sales of
electric cars, significant production of electric cars in Japan, China, and
India, and the growing need for cost-effective and efficient alternatives for
conventional cars are adding to the global in-wheel electric motors market
growth in the region.
In North
America, the in-wheel electric motors market is predicted to have sound growth
over the forecast period. Adoption of advanced technologies to make efficient
and lightweight cars, rising investments by OEMs in the research and
development department to make in-wheel motors free from dirt and shocks, and
capability to improve car efficiency to eliminate mechanical components and
reduce wear and tear are adding to the global in-wheel electric motors market
growth in the region.
In the
Rest of the World, the in-wheel
electric motors market is predicted to have admirable growth over the
forecast period.
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