In-Wheel Motor Market Size, Share, Up-coming Trends, Analysis, Manufactures, Regions, Leading Players, Outlook –Future and Forecast 2023

The Global report on “In-Wheel Motor Market” delivering key insights and providing a competitive advantage to clients through a detailed report. The report also details the information about the global market status, growth rate, future trends, market drivers, challenges, opportunities and porter’s forces analysis with respect to these elements. An exclusive data offered in this report is collected by research and industry experts team.

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“Availability of government support such as subsidies and tax rebates for electric vehicles, eliminating the need for the driveshaft and better torque control has driven the demand for in-wheel motor globally.”

The global in-wheel motor market is estimated to grow from USD 322.8 million in 2018 at a CAGR of 35.02% to reach USD 2,641.1 by 2025. Government subsidies and tax rebates for electric vehicles, increased driving range, reliability, and improved vehicle performance are the factors responsible for the growth of the in-wheel motor market. However, high price and increase in unsprung weight in wheels are considered to be the major restraints for the growth of the in-wheel motor market.

“Radial flux motor segment, by motor type, is the fastest growing segment of the in-wheel market”

The radial flux motor segment, by motor type, is the fastest growing segment of the in-wheel motor market. The radial flux motor is the most common motor type adopted for in-wheel motors as the rotor can be directly fixed to the wheel. Moreover, in radial flux motors, the outer rotor design is about 15% lighter than the inner rotor machine, which generates the same torque due to their longer air gap diameter. In-wheel motors are almost radial because of integration benefits, durability, and torque density.

“North America is the fastest growing in-wheel motor market”

North America is the fastest growing market for EVs, followed by Asia Pacific. North America is a regional hub for many renowned EV manufacturers, which are known for delivering quality and high-performance vehicles. OEMs in North America such as Tesla and GM are focused on the development of faster, cleaner, and high-performance electric vehicles. BMW, Nissan, Volkswagen, and Daimler are the leading OEMs in the US that have launched electric vehicles nationwide, resulting in the large demand for in-wheel motors. The top-selling electric vehicles in the US are Tesla Model S, Chevy Volt, and Nissan Leaf and are equipped with in-wheel motors.

The study contains insights provided by various industry experts, ranging from online retailers to Tier–1 companies and OEMs. The breakup of the primaries is as follows:

  • By Company Type: Tier I–42%, Tier II–40%,and Tier III–18%,
  • By Designation: C Level–57%, D Level–29%,and Others–14%
  • By Region: North America–28%, Europe–27%, Asia–Pacific–34%, Rest of the World–11%

The key market players profiled in the report are:

  • Protean Electric (US)
  • Elaphe (Slovenia)
  • ZIEHL-ABEGG (Germany)
  • Printed Motor Works (UK)
  • NTN (Japan)
  • E-TRACTION (The Netherlands)
  • TM4 (Canada)
  • ECOmove (Germany)
  • NSK (Japan)
  • TAJIMA EV (Japan)
  • Schaeffler(Germany)

Research Coverage:

The report provides a picture of the global in-wheel motor market, along with the market details with respect to different regions and countries. It aims at estimating the market size and future growth potential of this market across different segments such as by propulsion type, vehicle type, motor type, cooling type, power output type, and region. Furthermore, the report also includes an in-depth competitive analysis of the key players in the market along with their company profiles, SWOT analysis, recent developments, and key market strategies.

Key Benefits of Buying the Report:

The report will help the market leaders/new entrants provide the closest approximations of the revenue numbers of the overall in-wheel motor market and its sub segments. This report will help stakeholders understand the competitor landscape better and gain more insights to position their businesses and make suitable go-to-market strategies. The report also helps the stakeholders understand the pulse of the market and provides information on key market drivers, restraints, challenges, and opportunities.

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