Report Description

 

Forecast Period

2024-2028

Market Size (2022)

USD 2.93 billion

CAGR (2023-2028)

6.67%

Fastest Growing Segment

Commercial Vehicle

Largest Market

Asia-Pacific


Market Overview

Global In-Wheel Motor Market has valued at USD 2.93 billion in 2022 and is anticipated to project robust growth in the forecast period with a CAGR of 6.67% through 2028. Electric motors known as "in-wheel motors" are mounted within the wheels of electric cars and are designed to provide increased performance by providing direct power to the wheels. When in-wheel motor systems were introduced, independent motors were mounted on the wheels of vehicles and were in charge of each individual operation, as opposed to conventional electric vehicles, which had a single motor powering every wheel. A car's in-wheel motor, which is positioned around the wheel, powers the wheel directly and provides a responsive accelerator. Additionally, the addition of in-wheel motors to electric cars improves driving alignment and makes it more enjoyable and natural. The global in-wheel motor market is expected to grow in part due to factors like the growing demand for safety and convenience features, the rise in demand for electric vehicles, and the strict safety regulations imposed by governments on the automotive industry. Moreover, the factors impeding the expansion of the global market are high manufacturing costs and a decline in vehicle production worldwide. On the other hand, a growing number of applications utilizing electric motors and the increased adoption of electric vehicles are the elements that are anticipated to offer profitable prospects, supporting the expansion of the worldwide in-wheel motor market.

Market Drivers

Rapid Growth in Electric Vehicle Adoption

The foremost driver steering the Global In-Wheel Motor market is the rapid and widespread adoption of electric vehicles (EVs). As the automotive industry endeavors to reduce its carbon footprint and transition towards cleaner mobility solutions, electric vehicles have gained unprecedented popularity. Governments worldwide are implementing ambitious targets and incentives to accelerate the adoption of EVs, contributing to the surge in demand for in-wheel motor technology. In-wheel motors, also known as hub motors, are a pivotal component of electric propulsion systems. By integrating the motor directly into the wheel hub, in-wheel motors eliminate the need for a traditional centralized drivetrain, enhancing vehicle design flexibility and efficiency. The advantages of in-wheel motors, including simplified drivetrain architecture, improved handling, and increased space utilization, make them an attractive choice for electric vehicle manufacturers. The rise in electric vehicle adoption is not limited to passenger cars; it extends across various vehicle segments, including commercial vehicles, buses, and even two-wheelers. In-wheel motors offer a scalable solution applicable to different vehicle types, contributing to their increasing prominence in the electric mobility landscape. To capitalize on the rapid growth in electric vehicle adoption, manufacturers in the Global In-Wheel Motor market must align their strategies with the evolving needs of the electric vehicle ecosystem. This involves continual innovation to enhance the efficiency and performance of in-wheel motor systems, catering to the diverse requirements of different vehicle segments. Collaborations with electric vehicle manufacturers and an understanding of the unique challenges posed by various applications are key factors in harnessing the opportunities presented by the growing electric vehicle market.

Advancements in In-Wheel Motor Technology

Advancements in in-wheel motor technology stand as a pivotal driver shaping the Global In-Wheel Motor market. As electric propulsion systems evolve, in-wheel motors are undergoing continuous improvements in terms of efficiency, power density, and overall performance. The quest for more compact and lightweight designs, coupled with advancements in materials and manufacturing processes, is driving innovation in in-wheel motor technology. One of the notable advancements is the integration of power electronics directly into the in-wheel motor unit. This integration enhances the overall efficiency of the electric drivetrain by reducing power losses associated with long cable runs between the centralized power electronics and individual wheel motors. The compact nature of in-wheel motors allows for more efficient thermal management, contributing to improved overall system performance. Moreover, the development of direct-drive in-wheel motors eliminates the need for complex gearing systems, reducing mechanical losses and enhancing efficiency. Direct-drive systems offer a more direct and responsive connection between the motor and the wheel, providing benefits in terms of energy conversion and vehicle dynamics.

To stay competitive in the rapidly advancing landscape of in-wheel motor technology, manufacturers must invest in research and development. This involves exploring innovative materials, refining motor designs, and optimizing power electronics integration. Collaboration with technology providers, academia, and research institutions is essential for staying at the forefront of in-wheel motor advancements. As electric vehicles continue to evolve, in-wheel motor technology will play a crucial role in shaping the efficiency and performance of future electric propulsion systems.

Enhanced Vehicle Dynamics and Handling

The pursuit of enhanced vehicle dynamics and handling represents a key driver in the Global In-Wheel Motor market. In-wheel motors offer a transformative solution by directly powering individual wheels, enabling precise control over each wheel's torque and speed. This level of control enhances vehicle stability, maneuverability, and overall handling performance.

Traditional vehicles with centralized drivetrains rely on complex mechanical systems such as differentials and driveshafts to distribute power to individual wheels. In contrast, in-wheel motors eliminate the need for these components, simplifying the drivetrain architecture and reducing mechanical complexity. This simplification not only contributes to efficiency gains but also allows for more precise control over the distribution of torque to each wheel. The independent control of each wheel provided by in-wheel motors is particularly advantageous in electric vehicles with electric torque vectoring capabilities. Torque vectoring adjusts the torque applied to each wheel in real-time, optimizing vehicle dynamics during acceleration, deceleration, and cornering. This results in improved traction, stability, and responsiveness, enhancing the overall driving experience. For manufacturers in the Global In-Wheel Motor market, the emphasis on enhanced vehicle dynamics and handling necessitates a focus on developing systems that seamlessly integrate with a variety of vehicle platforms. Collaborations with automakers, chassis engineers, and vehicle dynamics specialists are crucial for tailoring in-wheel motor solutions to meet the specific handling requirements of different vehicle types. As consumer expectations for electric vehicles include not only environmental sustainability but also superior driving dynamics, in-wheel motors become a key enabler for achieving these goals.

Urbanization and the Demand for Compact Electric Vehicles

The global trend towards urbanization and the increasing demand for compact electric vehicles are driving the adoption of in-wheel motors. As populations concentrate in urban areas, there is a growing need for vehicles that are agile, space-efficient, and well-suited for navigating congested city streets. In-wheel motors offer a solution to these challenges by enabling a more compact and versatile vehicle design. Compact electric vehicles, including electric city cars and micro-mobility solutions like electric scooters and bicycles, benefit from the space-saving attributes of in-wheel motors. By integrating the motor directly into the wheel hub, in-wheel motors eliminate the need for a bulky centralized drivetrain, allowing for more efficient use of interior space and a smaller vehicle footprint. In-wheel motors also contribute to the design flexibility of compact electric vehicles. Electric city cars, for example, can feature a more spacious and versatile interior layout, as there is no need for a traditional engine compartment. Additionally, the absence of a transmission tunnel allows for a flat floor, creating a more comfortable and accessible interior for occupants. To harness the opportunities presented by urbanization and the demand for compact electric vehicles, manufacturers in the Global In-Wheel Motor market must tailor their solutions to meet the specific requirements of these vehicle types. This involves designing in-wheel motors that align with the space constraints of compact vehicles, ensuring seamless integration with different vehicle architectures. Collaborations with urban mobility service providers and a keen understanding of the evolving needs of urban dwellers are essential for driving innovation in in-wheel motor technology for compact electric vehicles.


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Key Market Challenges

Technological Complexities and Integration Challenges

One of the primary challenges facing the Global In-Wheel Motor market is the inherent technological complexities and integration challenges associated with this innovative propulsion technology. In-wheel motors, also known as hub motors, involve the integration of motor, power electronics, and control systems directly into the wheel hub. While this integration offers various advantages, it also introduces intricate engineering challenges. The technological complexities stem from the need to design compact and lightweight in-wheel motor units that can deliver sufficient power and torque while fitting within the limited space of a wheel hub. Balancing power density with thermal management is a critical consideration, as the proximity of components within the wheel hub can lead to increased temperatures, impacting performance and reliability. Moreover, in-wheel motors must seamlessly integrate with the overall vehicle architecture, including the braking system, suspension, and other critical components. Ensuring compatibility and optimal functionality under various driving conditions and vehicle platforms requires sophisticated control algorithms, precise sensors, and seamless communication with the vehicle's central control system. Integration challenges also extend to the diversity of vehicle types, from compact city cars to heavy-duty trucks. Each vehicle type has unique design specifications and performance requirements, demanding adaptable in-wheel motor solutions. Achieving compatibility with different vehicle architectures, suspension systems, and braking technologies adds another layer of complexity for manufacturers in the Global In-Wheel Motor market.

Cost Considerations in the Face of Intense Competition

Cost considerations pose a significant challenge for the Global In-Wheel Motor market, particularly as the industry experiences heightened competition and a drive towards cost-effective electric propulsion solutions. While in-wheel motors offer unique advantages, such as simplified drivetrain architecture and enhanced vehicle dynamics, the integration of these systems can contribute significantly to the overall cost of an electric or hybrid vehicle. The production of in-wheel motors involves intricate engineering and precision manufacturing, often requiring specialized materials and components. Additionally, the need for advanced control systems, sensors, and power electronics further adds to the cost of in-wheel motor units. As the automotive industry strives to make electric vehicles more affordable and accessible to a broader consumer base, the cost-effectiveness of in-wheel motor technology becomes a critical consideration. Intense competition within the electric propulsion sector places additional pressure on manufacturers to deliver cost-competitive in-wheel motor solutions without compromising quality or performance. Traditional drivetrain solutions, while less complex, may have a cost advantage over in-wheel motors, making it challenging for the latter to gain widespread adoption, especially in cost-sensitive market segments. To address cost considerations, manufacturers in the Global In-Wheel Motor market must focus on optimizing production processes, exploring innovative materials that offer cost-effective solutions, and leveraging economies of scale. Collaborations with suppliers and strategic partnerships can contribute to driving down costs and making in-wheel motor technology more economically viable for mass-market electric vehicles.

Weight and Unsprung Mass Challenges

In-wheel motors introduce challenges related to weight and unsprung mass, which can impact vehicle dynamics, ride comfort, and overall performance. Unsprung mass refers to the mass of components not supported by the suspension system, including the wheel, tire, and in-wheel motor assembly. The integration of heavy in-wheel motor units increases unsprung mass, potentially leading to challenges in terms of vehicle stability, handling, and ride quality. The increased unsprung mass can affect the responsiveness of the suspension system, making it more challenging to maintain optimal tire contact with the road surface. This, in turn, can impact the vehicle's ability to absorb shocks and vibrations, leading to a compromise in ride comfort. Additionally, the higher unsprung mass can contribute to increased tire wear and reduced overall efficiency. Furthermore, the additional weight introduced by in-wheel motors poses challenges for electric vehicles striving for energy efficiency and extended range. The increased mass requires more energy to accelerate and decelerate, potentially offsetting the benefits of the in-wheel motor's design simplicity and efficiency gains. Addressing weight and unsprung mass challenges requires a holistic approach to design and engineering. Manufacturers in the Global In-Wheel Motor market must prioritize lightweight materials without compromising structural integrity. Advanced materials, such as carbon fiber composites, can be explored to reduce the weight of in-wheel motor units. Additionally, optimizing suspension systems to compensate for increased unsprung mass and collaborating with chassis engineers are essential steps in overcoming these challenges.

Regulatory Landscape and Standardization

The Global In-Wheel Motor market operates in a dynamic regulatory landscape, with varying standards and requirements across different regions. Ensuring compliance with safety and environmental regulations is crucial for market acceptance and widespread adoption of in-wheel motor technology. However, the evolving nature of regulations, along with the absence of standardized norms specific to in-wheel motors, poses a challenge for manufacturers in this sector.

Safety standards for electric vehicles, including those equipped with in-wheel motors, are stringent and require thorough testing and certification processes. As in-wheel motors directly influence vehicle dynamics and handling, ensuring compliance with safety standards becomes a complex task. Additionally, the absence of standardized testing methods for in-wheel motors can lead to variations in testing procedures across different regulatory bodies. Environmental regulations, including those related to materials used in in-wheel motor manufacturing and end-of-life considerations, add another layer of complexity. The push towards sustainability and recyclability necessitates manufacturers to adhere to evolving environmental standards, which can impact the design, production, and disposal of in-wheel motor units. To navigate the regulatory challenges, manufacturers in the Global In-Wheel Motor market must stay abreast of evolving standards and actively participate in standardization initiatives. Collaborating with regulatory bodies, industry associations, and other stakeholders can contribute to the development of standardized testing methods and compliance guidelines for in-wheel motors. Proactive engagement in shaping the regulatory landscape ensures that in-wheel motor technology aligns with global safety and environmental standards, facilitating market acceptance and fostering industry growth.

Key Market Trends

Technological Advancements and Integration of Power Electronics

A central trend propelling the Global In-Wheel Motor market forward is the relentless pursuit of technological advancements and the seamless integration of power electronics within in-wheel motor systems. As the automotive industry undergoes a profound electrification shift, in-wheel motors are at the forefront of innovation, continuously pushing the boundaries of efficiency, power density, and overall performance. The integration of power electronics directly into the in-wheel motor unit represents a significant leap in technological evolution. This integration streamlines the electric drivetrain by reducing power losses associated with long cable runs between centralized power electronics and individual wheel motors. This approach enhances the overall efficiency of the electric propulsion system and contributes to the optimization of the in-wheel motor's thermal management. Moreover, advancements in materials and manufacturing processes are playing a pivotal role in the continuous improvement of in-wheel motor technology. The use of lightweight materials, such as high-strength alloys and advanced composites, contributes to reducing the overall weight of the in-wheel motor assembly. This not only enhances the efficiency of the electric vehicle but also positively impacts the vehicle's handling and energy consumption. To stay at the forefront of technological advancements, manufacturers in the Global In-Wheel Motor market must invest in research and development activities. Collaboration with material scientists, power electronics experts, and academic institutions becomes essential for pushing the technological boundaries. Additionally, staying abreast of emerging technologies like silicon carbide (SiC) and gallium nitride (GaN) power semiconductors can further contribute to the continuous enhancement of in-wheel motor efficiency and performance. The integration of power electronics within the in-wheel motor unit is poised to be a defining trend, shaping the technological landscape of the Global In-Wheel Motor market. As the demand for electric vehicles continues to surge, manufacturers focusing on technological advancements and seamless integration will be better positioned to meet the evolving needs of the automotive industry.

Rise of Electric and Hybrid Vehicles

A fundamental trend driving the Global In-Wheel Motor market is the increasing adoption of electric and hybrid vehicles. As the automotive industry witnesses a paradigm shift from traditional internal combustion engines to electric propulsion systems, in-wheel motors have gained prominence for their contribution to the efficiency and design flexibility of electric and hybrid vehicles. Electric vehicles (EVs) and hybrid electric vehicles (HEVs) leverage in-wheel motors to eliminate the need for a centralized drivetrain. Traditional vehicles with a centralized drivetrain require complex mechanical systems like differentials and driveshafts to distribute power to individual wheels. In contrast, in-wheel motors, by being directly integrated into the wheel hub, simplify the drivetrain architecture, reducing mechanical complexity and enhancing overall efficiency. The advantages of in-wheel motors extend beyond simplifying drivetrain architecture. In-wheel motors contribute to improved vehicle dynamics, handling, and energy regeneration. The ability to control each wheel independently enables electric torque vectoring, enhancing traction, stability, and responsiveness during acceleration, deceleration, and cornering. The rise of electric and hybrid vehicles is a critical driver for the Global In-Wheel Motor market, as automakers seek innovative solutions to meet consumer demands for cleaner, more sustainable mobility. To capitalize on this trend, in-wheel motor manufacturers must tailor their solutions to the specific requirements of electric and hybrid vehicle platforms. Collaborations with automakers and a keen understanding of the evolving needs of the electric and hybrid vehicle market are essential for success in this dynamic and rapidly growing segment.

Advancements in Vehicle Dynamics and Autonomous Mobility

Advancements in vehicle dynamics, coupled with the emergence of autonomous mobility, are significant trends influencing the Global In-Wheel Motor market. In-wheel motors play a crucial role in enhancing vehicle dynamics by providing precise control over each wheel's torque and speed. This level of control contributes to superior handling, stability, and maneuverability, making in-wheel motors an attractive choice for electric vehicles designed to deliver an exceptional driving experience. Electric torque vectoring, made possible by the independent control of each wheel, is a key advancement in vehicle dynamics facilitated by in-wheel motors. Torque vectoring optimizes vehicle performance by adjusting the torque applied to each wheel in real-time, responding to driving conditions and improving traction during acceleration, deceleration, and cornering. This capability is particularly valuable in electric sports cars and high-performance electric vehicles, where precise control over vehicle dynamics is a priority.

Segmental Insights

Vehicle Type Analysis

The market's largest contributor, passenger cars, is anticipated to expand over the course of the forecast period. The widespread use of in-wheel motors in contemporary passenger cars may be attributed to improvements in efficiency, torque, power, and vehicle control. Most manufacturers of electric vehicles concentrate on improving models with increased range, reduced weight, and more effective designs. By mounting motors on the wheels, manufacturers of electric vehicles can ensure better power output and efficient use of available space. Enhancements in the weight, range, interior volume, and maneuverability of electric vehicles are highly desired not only by EV manufacturers but also by Tier 1 companies. This indicates that the market for automobiles with passenger seats will continue to be the largest during the anticipated period.


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Regional Insights

The global market is dominated by Asia-Pacific. Asia-Pacific is anticipated to grow during the forecast period and maintain its position as the largest shareholder in the global in-wheel motor market. Since in-wheel motors are used in electric vehicles, the market for in-wheel motors is expected to grow due to the rapid increase in sales of these vehicles in nations like China and Japan, as well as the rapid urbanization and rising demand for environmentally friendly transportation options in emerging economies like China and India. The In Wheel Motor Market is expected to grow over the course of the study period due to a number of factors, the most significant of which are an increase in the number of people living in urban areas and an increase in per capita income that follows, both of which encourage people to purchase electric vehicles.

Recent Developments

  • In June 2021, e-Traction and ViriCti teamed up to use cutting-edge technology to hasten the adoption of electric buses. Motion 2.0's powertrain
  • Tajima Motor Corporation Idemitsu Kosan and the Corporation teamed up in February 2021 to develop and market compact electric cars with a top speed of sixty kilometers per hour.
  • NEVS, a division of Evergrande Health, purchased Protean Electric in January 2021. Protean Electric is a prominent developer of in-wheel motor technology. The acquisition is a component of Evergrande's plan to take the lead in the global electric vehicle (EV) market.
  • Elaphe Ltd. declared in May 2019 that they had started low-volume series production of the L1500, the world's most powerful direct drive, gearless in-wheel powertrain system.

Key Market Players

  • Protean Electric
  • NTN
  • NSK
  • Printed Motor Works
  • Elaphe Ltd.
  • Ziehl-Abegg
  • e-Traction
  • DANA TW
  • YASA
  • Schaeffler

By Vehicle Type

By Propulsion Type

By Motor Type

By Region

  • Passenger Cars
  • Commercial Vehicles
  • Battery Electric Vehicle (BEV)
  • Plug-in Hybrid Vehicle (PHEV)
  • Fuel Cell Electric Vehicle (FCEV)
  • Radial
  • Axial
  • North America
  • Europe & CIS
  • Asia Pacific
  • South America
  • Middle East & Africa
Report Scope:

In this report, the Global In-Wheel Motor Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

  • In-Wheel Motor Market, By Vehicle Type:

o   Passenger Cars

o   Commercial Vehicles

  • In-Wheel Motor Market, By Propulsion Type:

o   Battery Electric Vehicle (BEV)

o   Plug-in Hybrid Vehicle (PHEV)

o   Fuel Cell Electric Vehicle (FCEV)

  • In-Wheel Motor Market, By Motor Type:

o   Radial

o   Axial

  • In-Wheel Motor Market, By Region:

o   Asia-Pacific

§  China

§  India

§  Japan

§  Indonesia

§  Thailand

§  South Korea

§  Australia

o   Europe & CIS

§  Germany

§  Spain

§  France

§  Russia

§  Italy

§  United Kingdom

§  Belgium

o   North America

§  United States

§  Canada

§  Mexico

o   South America

§  Brazil

§  Argentina

§  Colombia

o   Middle East & Africa

§  South Africa

§  Turkey

§  Saudi Arabia

§  UAE

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global In-Wheel Motor Market.

Available Customizations:

Global In-Wheel Motor market report with the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).
Global In-Wheel Motor Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

1.    Introduction

1.1.  Product Overview

1.2.  Key Highlights of the Report

1.3.  Market Coverage

1.4.  Market Segments Covered

1.5.  Research Tenure Considered

2.    Research Methodology

2.1.  Objective of the Study

2.2.  Baseline Methodology

2.3.  Key Industry Partners

2.4.  Major Association and Secondary Sources

2.5.  Forecasting Methodology

2.6.  Data Triangulation & Validation

2.7.  Assumptions and Limitations

3.    Executive Summary

3.1.  Market Overview

3.2.  Market Forecast

3.3.  Key Regions

3.4.  Key Segments

4.    Impact of COVID-19 on Global In-Wheel Motor Market

5.    Global In-Wheel Motor Market Outlook

5.1.  Market Size & Forecast

5.1.1.     By Value

5.2.  Market Share & Forecast

5.2.1.     By Vehicle Type Market Share Analysis ((Passenger Cars, Commercial Vehicles)

5.2.2.     By Propulsion Type Market Share Analysis (Battery Electric Vehicle (BEV), Plug-in Hybrid Vehicle (PHEV), Fuel Cell Electric Vehicle (FCEV))

5.2.3.     By Motor Type Market Share Analysis (Radial, Axial)

5.2.4.     By Regional Market Share Analysis

5.2.4.1.         Asia-Pacific Market Share Analysis

5.2.4.2.         Europe & CIS Market Share Analysis

5.2.4.3.         North America Market Share Analysis

5.2.4.4.         South America Market Share Analysis

5.2.4.5.         Middle East & Africa Market Share Analysis

5.2.5.     By Company Market Share Analysis (Top 5 Companies, Others - By Value, 2022)

5.3.  Global In-Wheel Motor Market Mapping & Opportunity Assessment

5.3.1.     By Vehicle Type Market Mapping & Opportunity Assessment

5.3.2.     By Propulsion Type Market Mapping & Opportunity Assessment

5.3.3.     By Motor Type Market Mapping & Opportunity Assessment

5.3.4.     By Regional Market Mapping & Opportunity Assessment

6.    Asia-Pacific In-Wheel Motor Market Outlook

6.1.  Market Size & Forecast

6.1.1.     By Value  

6.2.  Market Share & Forecast

6.2.1.     By Vehicle Type Market Share Analysis

6.2.2.     By Propulsion Type Market Share Analysis

6.2.3.     By Motor Type Market Share Analysis

6.2.4.     By Country Market Share Analysis

6.2.4.1.         China Market Share Analysis

6.2.4.2.         India Market Share Analysis

6.2.4.3.         Japan Market Share Analysis

6.2.4.4.         Indonesia Market Share Analysis

6.2.4.5.         Thailand Market Share Analysis

6.2.4.6.         South Korea Market Share Analysis

6.2.4.7.         Australia Market Share Analysis

6.2.4.8.         Rest of Asia-Pacific Market Share Analysis

6.3.  Asia-Pacific: Country Analysis

6.3.1.     China In-Wheel Motor Market Outlook

6.3.1.1.         Market Size & Forecast

6.3.1.1.1.             By Value  

6.3.1.2.         Market Share & Forecast

6.3.1.2.1.             By Vehicle Type Market Share Analysis

6.3.1.2.2.             By Propulsion Type Market Share Analysis

6.3.1.2.3.             By Motor Type Market Share Analysis

6.3.2.     India In-Wheel Motor Market Outlook

6.3.2.1.         Market Size & Forecast

6.3.2.1.1.             By Value  

6.3.2.2.         Market Share & Forecast

6.3.2.2.1.             By Vehicle Type Market Share Analysis

6.3.2.2.2.             By Propulsion Type Market Share Analysis

6.3.2.2.3.             By Motor Type Market Share Analysis

6.3.3.     Japan In-Wheel Motor Market Outlook

6.3.3.1.         Market Size & Forecast

6.3.3.1.1.             By Value  

6.3.3.2.         Market Share & Forecast

6.3.3.2.1.             By Vehicle Type Market Share Analysis

6.3.3.2.2.             By Propulsion Type Market Share Analysis

6.3.3.2.3.             By Motor Type Market Share Analysis

6.3.4.     Indonesia In-Wheel Motor Market Outlook

6.3.4.1.         Market Size & Forecast

6.3.4.1.1.             By Value  

6.3.4.2.         Market Share & Forecast

6.3.4.2.1.             By Vehicle Type Market Share Analysis

6.3.4.2.2.             By Propulsion Type Market Share Analysis

6.3.4.2.3.             By Motor Type Market Share Analysis

6.3.5.     Thailand In-Wheel Motor Market Outlook

6.3.5.1.         Market Size & Forecast

6.3.5.1.1.             By Value  

6.3.5.2.         Market Share & Forecast

6.3.5.2.1.             By Vehicle Type Market Share Analysis

6.3.5.2.2.             By Propulsion Type Market Share Analysis

6.3.5.2.3.             By Motor Type Market Share Analysis

6.3.6.     South Korea In-Wheel Motor Market Outlook

6.3.6.1.         Market Size & Forecast

6.3.6.1.1.             By Value  

6.3.6.2.         Market Share & Forecast

6.3.6.2.1.             By Vehicle Type Market Share Analysis

6.3.6.2.2.             By Propulsion Type Market Share Analysis

6.3.6.2.3.             By Motor Type Market Share Analysis

6.3.7.     Australia In-Wheel Motor Market Outlook

6.3.7.1.         Market Size & Forecast

6.3.7.1.1.             By Value  

6.3.7.2.         Market Share & Forecast

6.3.7.2.1.             By Vehicle Type Market Share Analysis

6.3.7.2.2.             By Propulsion Type Market Share Analysis

6.3.7.2.3.             By Motor Type Market Share Analysis

7.    Europe & CIS In-Wheel Motor Market Outlook

7.1.  Market Size & Forecast

7.1.1.     By Value  

7.2.  Market Share & Forecast

7.2.1.     By Vehicle Type Market Share Analysis

7.2.2.     By Propulsion Type Market Share Analysis

7.2.3.     By Motor Type Market Share Analysis

7.2.4.     By Country Market Share Analysis

7.2.4.1.         Germany Market Share Analysis

7.2.4.2.         Spain Market Share Analysis

7.2.4.3.         France Market Share Analysis

7.2.4.4.         Russia Market Share Analysis

7.2.4.5.         Italy Market Share Analysis

7.2.4.6.         United Kingdom Market Share Analysis

7.2.4.7.         Belgium Market Share Analysis

7.2.4.8.         Rest of Europe & CIS Market Share Analysis

7.3.  Europe & CIS: Country Analysis

7.3.1.     Germany In-Wheel Motor Market Outlook

7.3.1.1.         Market Size & Forecast

7.3.1.1.1.             By Value  

7.3.1.2.         Market Share & Forecast

7.3.1.2.1.             By Vehicle Type Market Share Analysis

7.3.1.2.2.             By Propulsion Type Market Share Analysis

7.3.1.2.3.             By Motor Type Market Share Analysis

7.3.2.     Spain In-Wheel Motor Market Outlook

7.3.2.1.         Market Size & Forecast

7.3.2.1.1.             By Value  

7.3.2.2.         Market Share & Forecast

7.3.2.2.1.             By Vehicle Type Market Share Analysis

7.3.2.2.2.             By Propulsion Type Market Share Analysis

7.3.2.2.3.             By Motor Type Market Share Analysis

7.3.3.     France In-Wheel Motor Market Outlook

7.3.3.1.         Market Size & Forecast

7.3.3.1.1.             By Value  

7.3.3.2.         Market Share & Forecast

7.3.3.2.1.             By Vehicle Type Market Share Analysis

7.3.3.2.2.             By Propulsion Type Market Share Analysis

7.3.3.2.3.             By Motor Type Market Share Analysis

7.3.4.     Russia In-Wheel Motor Market Outlook

7.3.4.1.         Market Size & Forecast

7.3.4.1.1.             By Value  

7.3.4.2.         Market Share & Forecast

7.3.4.2.1.             By Vehicle Type Market Share Analysis

7.3.4.2.2.             By Propulsion Type Market Share Analysis

7.3.4.2.3.             By Motor Type Market Share Analysis

7.3.5.     Italy In-Wheel Motor Market Outlook

7.3.5.1.         Market Size & Forecast

7.3.5.1.1.             By Value  

7.3.5.2.         Market Share & Forecast

7.3.5.2.1.             By Vehicle Type Market Share Analysis

7.3.5.2.2.             By Propulsion Type Market Share Analysis

7.3.5.2.3.             By Motor Type Market Share Analysis

7.3.6.     United Kingdom In-Wheel Motor Market Outlook

7.3.6.1.         Market Size & Forecast

7.3.6.1.1.             By Value  

7.3.6.2.         Market Share & Forecast

7.3.6.2.1.             By Vehicle Type Market Share Analysis

7.3.6.2.2.             By Propulsion Type Market Share Analysis

7.3.6.2.3.             By Motor Type Market Share Analysis

7.3.7.     Belgium In-Wheel Motor Market Outlook

7.3.7.1.         Market Size & Forecast

7.3.7.1.1.             By Value  

7.3.7.2.         Market Share & Forecast

7.3.7.2.1.             By Vehicle Type Market Share Analysis

7.3.7.2.2.             By Propulsion Type Market Share Analysis

7.3.7.2.3.             By Motor Type Market Share Analysis

8.    North America In-Wheel Motor Market Outlook

8.1.  Market Size & Forecast

8.1.1.     By Value  

8.2.  Market Share & Forecast

8.2.1.     By Vehicle Type Market Share Analysis

8.2.2.     By Propulsion Type Market Share Analysis

8.2.3.     By Motor Type Market Share Analysis

8.2.4.     By Country Market Share Analysis

8.2.4.1.         United States Market Share Analysis

8.2.4.2.         Mexico Market Share Analysis

8.2.4.3.         Canada Market Share Analysis

8.3.  North America: Country Analysis

8.3.1.     United States In-Wheel Motor Market Outlook

8.3.1.1.         Market Size & Forecast

8.3.1.1.1.             By Value  

8.3.1.2.         Market Share & Forecast

8.3.1.2.1.             By Vehicle Type Market Share Analysis

8.3.1.2.2.             By Propulsion Type Market Share Analysis

8.3.1.2.3.             By Motor Type Market Share Analysis

8.3.2.     Mexico In-Wheel Motor Market Outlook

8.3.2.1.         Market Size & Forecast

8.3.2.1.1.             By Value  

8.3.2.2.         Market Share & Forecast

8.3.2.2.1.             By Vehicle Type Market Share Analysis

8.3.2.2.2.             By Propulsion Type Market Share Analysis

8.3.2.2.3.             By Motor Type Market Share Analysis

8.3.3.     Canada In-Wheel Motor Market Outlook

8.3.3.1.         Market Size & Forecast

8.3.3.1.1.             By Value  

8.3.3.2.         Market Share & Forecast

8.3.3.2.1.             By Vehicle Type Market Share Analysis

8.3.3.2.2.             By Propulsion Type Market Share Analysis

8.3.3.2.3.             By Motor Type Market Share Analysis

9.    South America In-Wheel Motor Market Outlook

9.1.  Market Size & Forecast

9.1.1.     By Value  

9.2.  Market Share & Forecast

9.2.1.     By Vehicle Type Market Share Analysis

9.2.2.     By Propulsion Type Market Share Analysis

9.2.3.     By Motor Type Market Share Analysis

9.2.4.     By Country Market Share Analysis

9.2.4.1.         Brazil Market Share Analysis

9.2.4.2.         Argentina Market Share Analysis

9.2.4.3.         Colombia Market Share Analysis

9.2.4.4.         Rest of South America Market Share Analysis

9.3.  South America: Country Analysis

9.3.1.     Brazil In-Wheel Motor Market Outlook

9.3.1.1.         Market Size & Forecast

9.3.1.1.1.             By Value  

9.3.1.2.         Market Share & Forecast

9.3.1.2.1.             By Vehicle Type Market Share Analysis

9.3.1.2.2.             By Propulsion Type Market Share Analysis

9.3.1.2.3.             By Motor Type Market Share Analysis

9.3.2.     Colombia In-Wheel Motor Market Outlook

9.3.2.1.         Market Size & Forecast

9.3.2.1.1.             By Value  

9.3.2.2.         Market Share & Forecast

9.3.2.2.1.             By Vehicle Type Market Share Analysis

9.3.2.2.2.             By Propulsion Type Market Share Analysis

9.3.2.2.3.             By Motor Type Market Share Analysis

9.3.3.     Argentina In-Wheel Motor Market Outlook

9.3.3.1.         Market Size & Forecast

9.3.3.1.1.             By Value  

9.3.3.2.         Market Share & Forecast

9.3.3.2.1.             By Vehicle Type Market Share Analysis

9.3.3.2.2.             By Propulsion Type Market Share Analysis

9.3.3.2.3.             By Motor Type Market Share Analysis

10.  Middle East & Africa In-Wheel Motor Market Outlook

10.1.             Market Size & Forecast

10.1.1.  By Value   

10.2.             Market Share & Forecast

10.2.1.  By Vehicle Type Market Share Analysis

10.2.2.  By Propulsion Type Market Share Analysis

10.2.3.  By Motor Type Market Share Analysis

10.2.4.  By Country Market Share Analysis

10.2.4.1.      South Africa Market Share Analysis

10.2.4.2.      Turkey Market Share Analysis

10.2.4.3.      Saudi Arabia Market Share Analysis

10.2.4.4.      UAE Market Share Analysis

10.2.4.5.      Rest of Middle East & Africa Market Share Africa

10.3.             Middle East & Africa: Country Analysis

10.3.1.  South Africa In-Wheel Motor Market Outlook

10.3.1.1.      Market Size & Forecast

10.3.1.1.1.           By Value  

10.3.1.2.      Market Share & Forecast

10.3.1.2.1.           By Vehicle Type Market Share Analysis

10.3.1.2.2.           By Propulsion Type Market Share Analysis

10.3.1.2.3.           By Motor Type Market Share Analysis

10.3.2.  Turkey In-Wheel Motor Market Outlook

10.3.2.1.      Market Size & Forecast

10.3.2.1.1.           By Value  

10.3.2.2.      Market Share & Forecast

10.3.2.2.1.           By Vehicle Type Market Share Analysis

10.3.2.2.2.           By Propulsion Type Market Share Analysis

10.3.2.2.3.           By Motor Type Market Share Analysis

10.3.3.  Saudi Arabia In-Wheel Motor Market Outlook

10.3.3.1.      Market Size & Forecast

10.3.3.1.1.           By Value  

10.3.3.2.      Market Share & Forecast

10.3.3.2.1.           By Vehicle Type Market Share Analysis

10.3.3.2.2.           By Propulsion Type Market Share Analysis

10.3.3.2.3.           By Motor Type Market Share Analysis

10.3.4.  UAE In-Wheel Motor Market Outlook

10.3.4.1.      Market Size & Forecast

10.3.4.1.1.           By Value  

10.3.4.2.      Market Share & Forecast

10.3.4.2.1.           By Vehicle Type Market Share Analysis

10.3.4.2.2.           By Propulsion Type Market Share Analysis

10.3.4.2.3.           By Motor Type Market Share Analysis

11.  SWOT Analysis

11.1.             Strength

11.2.             Weakness

11.3.             Opportunities

11.4.             Threats

12.  Market Dynamics

12.1.             Market Drivers

12.2.             Market Challenges

13.  Market Trends and Developments

14.  Competitive Landscape

14.1.             Company Profiles (Up to 10 Major Companies)

14.1.1.  Protean Electric

14.1.1.1.      Company Details

14.1.1.2.      Key Product Offered

14.1.1.3.      Financials (As Per Availability)

14.1.1.4.      Recent Developments

14.1.1.5.      Key Management Personnel

14.1.2.  NSK.

14.1.2.1.      Company Details

14.1.2.2.      Key Product Offered

14.1.2.3.      Financials (As Per Availability)

14.1.2.4.      Recent Developments

14.1.2.5.      Key Management Personnel

14.1.3.  NTN

14.1.3.1.      Company Details

14.1.3.2.      Key Product Offered

14.1.3.3.      Financials (As Per Availability)

14.1.3.4.      Recent Developments

14.1.3.5.      Key Management Personnel

14.1.4.  Printed Motor Works

14.1.4.1.      Company Details

14.1.4.2.      Key Product Offered

14.1.4.3.      Financials (As Per Availability)

14.1.4.4.      Recent Developments

14.1.4.5.      Key Management Personnel

14.1.5.  Elaphe Ltd.

14.1.5.1.      Company Details

14.1.5.2.      Key Product Offered

14.1.5.3.      Financials (As Per Availability)

14.1.5.4.      Recent Developments

14.1.5.5.      Key Management Personnel

14.1.6.  Ziehl-Abegg

14.1.6.1.      Company Details

14.1.6.2.      Key Product Offered

14.1.6.3.      Financials (As Per Availability)

14.1.6.4.      Recent Developments

14.1.6.5.      Key Management Personnel

14.1.7.  e-Traction.

14.1.7.1.      Company Details

14.1.7.2.      Key Product Offered

14.1.7.3.      Financials (As Per Availability)

14.1.7.4.      Recent Developments

14.1.7.5.      Key Management Personnel

14.1.8.  DANA TW.

14.1.8.1.      Company Details

14.1.8.2.      Key Product Offered

14.1.8.3.      Financials (As Per Availability)

14.1.8.4.      Recent Developments

14.1.8.5.      Key Management Personnel

14.1.9.  YASA.

14.1.9.1.      Company Details

14.1.9.2.      Key Product Offered

14.1.9.3.      Financials (As Per Availability)

14.1.9.4.      Recent Developments

14.1.9.5.      Key Management Personnel

14.1.10.                Schaeffler.

14.1.10.1.    Company Details

14.1.10.2.    Key Product Offered

14.1.10.3.    Financials (As Per Availability)

14.1.10.4.    Recent Developments

14.1.10.5.    Key Management Personnel

15.  Strategic Recommendations

15.1.             Key Focus Areas

15.1.1.  Target Regions

15.1.2.  Target Vehicle Type

15.1.3.  Target By Propulsion Type

16. About Us & Disclaimer

Figures and Tables

Frequently asked questions

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The market size of the Global In-Wheel Motor Market was estimated to be USD 2.93 billion in 2022.

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The market's largest contributor, passenger cars, is anticipated to expand over the course of the forecast period. The widespread use of in-wheel motors in contemporary passenger cars may be attributed to improvements in efficiency, torque, power, and vehicle control. Most manufacturers of electric vehicles concentrate on improving models with increased range, reduced weight, and more effective designs. By mounting motors on the wheels, manufacturers of electric vehicles can ensure better power output and efficient use of available space. Enhancements in the weight, range, interior volume, and maneuverability of electric vehicles are highly desired not only by EV manufacturers but also by Tier 1 companies.

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The global market is dominated by Asia-Pacific. Asia-Pacific is anticipated to grow during the forecast period and maintain its position as the largest shareholder in the global in-wheel motor market. Since in-wheel motors are used in electric vehicles, the market for in-wheel motors is expected to grow due to the rapid increase in sales of these vehicles in nations like China and Japan, as well as the rapid urbanization and rising demand for environmentally friendly transportation options in emerging economies like China and India.

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Rapid Growth in Electric Vehicle Adoption, Advancements in In-Wheel Motor Technology, and Technological Advancements and Connectivity Solutions are the major drivers for the Global In-Wheel Motor Market.

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Srishti Verma

Business Consultant
Press Release

In-Wheel Motor Market to Grow with a CAGR of 6.67% Globally through to 2028

Jan, 2024

Rapid Growth in Electric Vehicle Adoption, Advancements in In-Wheel Motor Technology, and Technological Advancements and Connectivity Solutions are factors driving the Global In-Wheel Motor market in