FactMR delivers vital insights into the In-wheel motors market in its published report, titled "In-wheel motors: Industry Analysis and Opportunity Assessment, 2018–2027". In terms of revenue, the In-wheel motors market is estimated to expand at a CAGR of 30.04% over the forecast period, owing to the numerous factors, about which FACT.MR offers thorough insights and forecasts in this report.
With increasing global penetration of electric vehicles across the world has led the rising demand for electric mobility. The in-wheel motor market is directly proportional to the sales of electric vehicles across the world. Also, rising demand for simplicity and efficiency of electric vehicles has led adoption of autonomous technologies to the electric mobility. Provisions for more spacious vehicles and reduced weight of vehicle coupled with rising awareness for emission control has also influenced in-wheel motor market towards considerable growth in the forecast period.
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On the basis of propulsion, the In-wheel motors market is segmented as BEV (Battery Electric Vehicle), HEV (Hybrid Electric Vehicle), PHEV (Plug-in Hybrid Electric Vehicle), and FCEV (Fuel cell Electric Vehicle). On the basis of motor, the In-wheel motors market is further segmented into axial motor and radial motor. On the basis of cooling, the in-wheel motor market is segmented into air and liquid cooling. On the basis of power output, the in-wheel motor market is segmented into up to 60 KW, 60-90 KW, and above 90 KW.
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Radial motor in in-wheel motor segment are estimated to have maximum incremental opportunity during the forecast period
With increasing penetration of electric vehicles across the world demand for rising autonomous technology is increasing. The radial in-wheel motors are projected to grow at a significant CAGR of 31.1% during the forecast period. The axial in-wheel motor is growing at a relatively slower pace as compared to radial motors. The axial motor has large market share in the global market creating an incremental opportunity of US$ 2245.8 Mn by 2027 end.
The North America In-wheel motors market, include country-level analysis for the U.S. and Canada. The U.S In-wheel motors market is expected to grow at a CAGR of 29.9% over the forecast period. The HEV (Hybrid Electric Vehicle) segment enjoys dominant share by propulsion. The Latin America In-wheel motors market includes country-level analysis for Brazil, Mexico, and Rest of Latin America. Mexico is the largest market in Latin America with an increasing demand for electric mobility and owing to the fact the In-wheel motors market is expected to expand at a significant CAGR of 46.1% over the forecast period.
The Europe In-wheel motors market include country-level analysis for EU – 4 (Germany, Italy, France, Spain), UK, Nordic, Eastern Europe and Rest of Europe. The positive outlook automotive industry is one of the vital driver creating the demand for in-wheel motors in Europe In-wheel motors market. EU – 4 and Eastern Europe account for a significant market share in the Europe in-wheel motors. The EU-4 In-wheel motors market is anticipated to expand at a CAGR of 25.7% having maximum market share during the forecast period.
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The manufacturers in In-wheel motor market to expand with strategic developments such as product launches, product innovation, expansion, collaborations and acquisitions in the In-wheel motor market. Key players operating in the global market for In-wheel motor, include Protean Electric (US), Elaphe (Slovenia), ZIEHL-ABEGG (Germany), Printed Motor Works (UK), NTN (Japan), and others.
In-Wheel Motor Market to Register 30.04% Growth during 2018-2027 – Reveals Fact.MR
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