The Global In-Wheel Motors Market size will develop at a 20% CAGR between the forecast period 2018- 2023, according to the new Market Research Future (MRFR) analysis. In-wheel motors are a form of electric vehicle driven system. The motors are mounted on the wheel directly to energize the wheel directly via supplying the torque to the associated tires.
Various factors are propelling the global in-wheel motors
market share. According to the recent MRFR market estimates, such factors
include innovations in vehicle development, latest vehicle dynamics, autonomous
driving, advances in-wheel motor technology, rising production of electric
cars, increasing penetration in EVs, increasing environmental awareness such as
noise and air pollution, degradation of naturally occurring resources, and
global warming, stringent emission regulations, the growing popularity of
energy-efficient products, and implementation to reduce vehicle weight by
deducting the space that the machines occupy.
On the contrary, an increase in unsprung weight in wheel,
high price, complex speed wheel, and the on-going COVID-19 pandemic are factors
that may deter the global in-wheel motors market growth in the region.
Key Players
Leading contenders profiled in the global in-wheel motors
market report include ECOmove GmbH (Germany), Protean Electric (US), NTN
Corporation (Japan), Elaphe Ltd (Slovenia), ZIEHL-ABEGG (Germany), Printed
Motors Works (UK), e-Traction B.V. (Netherlands), Tesla (US), Nissan Motors
Corporation (Japan), and Schaeffler AG (Germany). Industry players have
incorporated several strategies to remain at the forefront and also cater to
customers surging needs, such as mergers and acquisitions, partnerships and
joint ventures, new product launches, and others.
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Market Segmentation
The MRFR report highlights an inclusive segmental analysis of
the global in-wheel motors market based on cooling type, vehicle type, power
output, and motor type.
·
By motor
type, the global in-wheel motors market is segmented into outer
rotor type and inner rotor type.
·
By power
output, the global in-wheel motors market is segmented into above 90
KW, 50-90 KW, and up to 50 KW.
·
By vehicle
type, the global in-wheel motors market is segmented into heavy
commercial vehicles, light commercial vehicles, and passenger cars. Of these,
the passenger cars segment will lead the market over the forecast period.
·
By cooling
type, the global in-wheel motors market is segmented into liquid
cooling and air cooling.
Regional Analysis
By region, the in-wheel electric motors market covers the
growth opportunity and recent trends across Europe, North America, the Asia
Pacific (APAC), & the Middle East and Africa (MEA). Of these, Europe will
have the lion's share in the market over the forecast period. Investments by
top vehicle OEMs, and stringent emission norms and regulations are adding to
the global in-wheel electric motors market growth in the region.
In North America, the in-wheel electric motors market is
predicted to have sound growth over the forecast period. Adoption of advanced
technologies to make efficient and lightweight cars, rising investments by OEMs
in the research and development department to make in-wheel motors free from
dirt and shocks, and capability to improve car efficiency to eliminate
mechanical components and reduce wear and tear are adding to the global
in-wheel electric motors market growth in the region.
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TABLE OF CONTENTS:
1.
Market Introduction
2.
Research Methodology
3.
Market Dynamics
4.
Executive Summary
5.
Market Factor Analysis
6.
In-wheel motors Market, By
Segments
7.
Competitive Analysis
Continued…
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