Dublin, Nov. 22, 2021 (GLOBE NEWSWIRE) -- The "In-Wheel Motor Market - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The global in-wheel motor market is estimated to grow from USD 808 million in 2021 at a CAGR of 40.3% to reach USD 4,395 million by 2026.
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, challenges such as high price and increase in unsprung weight in wheels are 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.
Asia-Pacific is the fastest growing in-wheel motor market
Asia-Pacific is the fastest growing market for EVs, followed by North America. 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.
Protean Electric (UK), Elaphe (Slovenia), ZIEHL-ABEGG (Germany), Printed Motor Works (UK), and NTN (Japan) are some of the leading players in the in-wheel motor market.
Premium Insights
- Growing Efforts Toward Improving Performance of Electric Vehicles to Drive the In-Wheel Motor Market
- Up to 60 Kw Segment Expected to Lead the Market
- Radial Flux Motor Expected to Hold Larger Market Share
- Bev Expected to Dominate the Market During Forecast Period
- Passenger Cars Expected to Lead Market
- Asia-Pacific Estimated to Hold Largest Share of In-Wheel Motor Market in 2021 (Units)
Market Dynamics
Drivers
- Improved Dynamics, Increased Simplicity, and Efficiency of Vehicles
- Reduced Weight and Provides More Space
- Increase in Investments & Rise in Mergers & Acquisitions
- Increasing Penetration of Electric Vehicles Globally
Restraints
- Increase in Unsprung Weight in Wheels
- Inability to Mount on Conventional Vehicles
Opportunities
- Change in the Regulatory Environment Globally
- Rising Opportunities for Commercial and Off-Highway Electric Vehicles
- Rising Trend of Autonomous Technology in Vehicles
Challenges
- High Costs
- Complexity in Controlling Individual Wheel Speed
- Rise in Incidents of Failure
Porter's Five Forces Analysis
Supply Chain Analysis
- In-Wheel Motor Manufacturers
- Component Manufacturers
- Oems
Ecosystem
Technology Analysis
- In-Wheel Motor with 360 Degree Steering
- In-Wheel Modular Platform with Software Integration
- Independent Wheel Torque Control
Pricing Analysis
Patent Analysis
Case Studies
- Electric Pick-Up Trucks Equipped with In-Wheel Motors by Lordstown Motors
- Elaphe's L1500 In-Wheel Motors
- Lexus Lf-30 Concept Car with In-Wheel Motor
- Nissan Bladeglider Equipped with Two In-Wheel Motors
Company Profiles
Key Companies
- Nevs (Protean Electric)
- Printed Motor Works
- Ziehl-Abegg
- Elaphe
- Schaeffler
- Nsk Ltd.
- Ecomove
- Tajima Ev
- Yasa
- Ntn
- E-Traction
- Tm4
- Gemmotors
Other Key Players
- General Motors
- Tesla
- Ford Motor Company
- Volkswagen
- Bmw
- Daimler
- Volvo
- Mitsubishi Motors
- Toyota
- Honda
- Hyundai
- Nissan
For more information about this report visit https://www.researchandmarkets.com/r/gnxlv1
