Fact.MR published an exclusive forecast report for the In-wheel motor market between 2018 and 2027. The foremost objective of this report on In-wheel motor market is to pitch spearhead insights on market scenario, demand generators and technological advancements in In-wheel motor market. Also, the study on In-wheel motor market addresses key dynamics are expected to diversify the sales and future prominence of In-wheel motor market. Fact.MR 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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BEV (Battery Electric Vehicles) to Dominate the Propulsion Segment in the Global In-wheel motor Market
The In-wheel motor for battery electric vehicles is projected to be the most prominent propulsion segment in the global In-wheel motor market, growing at a significant CAGR of 29.5% during the forecast period. This rising demand for electric mobility among consumers coupled with rising awareness for gasoline and diesel emissions has led in-wheel motor market towards significant growth. The factor that is driving the demand for In-wheel motor is reducing motor weight which controls four wheel centrally and increasing provisions for spaces in the electric vehicles. The use of in wheel motor application is growing at a relatively high pace as compared with other motors in the electric mobility industry.
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.
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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.
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 this report, we have discussed individual strategies followed by leading in-wheel motors manufacturers, in terms of enhancing their product portfolio, creating new marketing techniques, mergers and acquisitions. The ‘Competitive Landscape’ is included to provide report audiences with a dashboard view and company share collectively.
Key players operating in the global market for In-wheel motors, include Protean Electric (US), Elaphe (Slovenia), ZIEHL-ABEGG (Germany), Printed Motor Works (UK), NTN (Japan), and others.
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