In-wheel
motor Market Overview:
The global In-wheel
motor Market size will develop at a 20% CAGR between the
forecast period 2023- 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 motor 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 motor
Market growth in the region.
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In-wheel
motor Market Segmentation
·
The MRFR report highlights an inclusive segmental
analysis of the global In-wheel motor Market based on cooling type, vehicle
type, power output, and motor type.
·
By motor type, the global In-wheel motor Market is
segmented into outer rotor type and inner rotor type.
·
By power output, the global In-wheel motor Market is
segmented into above 90 KW, 50-90 KW, and up to 50 KW.
·
By vehicle type, the global In-wheel motor 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 motor Market is
segmented into liquid cooling and air cooling.
In-Wheel
Motors 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 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.
In-Wheel
Motors Key Players
Leading contenders
profiled in the global In-wheel motor Market report include ECOmove GmbH
(Germany), Protean Electric (US), NTN Corporation (Japan), Elaphe Ltd
(Slovenia), ZIEHL-ABEGG (Germany), Printed Motors Works (UK), e-Traction B.V.
(Netherlands), Tesla (US), Nissan Motors Corporation (Japan), and Schaeffler AG
(Germany). Industry players have incorporated several strategies to remain at
the forefront and also cater to customers surging needs, such as mergers and
acquisitions, partnerships and joint ventures, new product launches, and
others.
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