Market Research Future Insights
According to MRFR analysis, the global In-wheel motor market is expected to register a CAGR of ~34% from 2022 to 2030 and hold a value of over USD 31000 million by 2030.
An in-wheel motor is a type of electric motor that is mounted directly inside the wheel of a vehicle, rather than being located elsewhere in the vehicle, such as in the engine compartment or transmission. In-wheel motors are used in some electric and hybrid vehicles to provide propulsion. They can offer several benefits, such as improved handling and braking, as well as increased space inside the vehicle because they do not require a traditional drivetrain. The demand for electric and hybrid vehicles has been affected by the pandemic. The use of electric and hybrid vehicles may have been seen as a more sustainable and environmentally friendly transportation option during the pandemic, as they do not produce emissions and may help to reduce air pollution in urban areas.
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Regional Analysis
The Asia-Pacific region will have the highest revenue for the In-wheel motor market throughout the forecast period. The demand for commercial electric vehicles in Asia-Pacific is expected to grow significantly due to the rising demand for electric buses and initiatives to promote the development of electric vehicles taken by governments in countries such as China, Japan, and India. Furthermore, increasing demand for the development of charging infrastructure and collaborations between automotive OEMs in the region is resulting in market growth in this region.
Market Segmentation
The Global In-wheel motor market has been segmented into propulsion type, power output, and vehicle type.
Based on the propulsion type, the market has been segmented into BEV, PHEV, FCEV, Cooling Type, Air Cooling, and Liquid Cooling.
Based on the power output, the market has been segmented into Up to 60 kW, 60–90 kW, and Above 90 kW.
Based on the vehicle type, the market has been segmented into Passenger Cars, Commercial Vehicles.
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Key Players
Some of the key market players are Protean Electric, NTN, NSK, Printed Motor Works, Elaphe Ltd, Ziehl-Abegg, e-Traction, DANA TM4, Ecomove, TAJIMA EV, YASA, Schaeffler.
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