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 sort of electric motor that is put inside the wheel of a vehicle as opposed to being placed somewhere else inside the car, such the gearbox or engine bay. Several electric and hybrid cars use in-wheel motors to provide power. They don't need a conventional drivetrain, therefore they can provide a number of advantages, including better handling and braking as well as more room within the car. The epidemic has impacted the desire for electric and hybrid automobiles. Because to their lack of emissions and potential to minimise air pollution, the usage of electric and hybrid vehicles during the pandemic may have been perceived as a more environmentally responsible and sustainable mobility choice.
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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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