Overview:

The global in-wheel motor market is valued for more than US$ XXX.X Mn in 2019 and expected to reach a value of US$ XXX.X Mn by 2029 with a significant CAGR of around XX.X% over the forecast period of 2019-2029. In-wheel motor system is an electric drive system where the internal combustion engine is replaced with at least two motors located in the hub of the wheels. The wheels perform the functionality that is performed by the engine, transmission, clutch, suspension and other related parts.

Market Dynamics:

Flourishing automotive sector across the globe, rapid technological advancements in vehicle automation, along with major players approach towards enhancing the driving experience with improved safety are major factors expected to drive the growth of global in-wheel motor market. In addition, rising electric vehicle sale in developed countries, coupled with deployment of in-wheel motor system in EV are other factors expected to augment growth of the target market.

Increasing investment by major players and the government in order to develop and increase the electric vehicle segment resulting in increased focus of manufactures to raise the power and provide better vehicle handling is expected to support growth of the target market in the near future.

Key Trends:

Key trend observed in the target market is key players approach toward establishment of joint ventures and partnerships for R&D activities and innovative product offerings. In 2018, Protean Electric an automotive technology company that specializing in in-wheel motor technology established a joint venture with Weifu high-technology group in order to commercialize its ProteanDrive Pd18 motors product.

Regional Analysis:

For detailed understanding of market dynamics, the global in-wheel motor market is analyzed across key regions viz. North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The Asia Pacific accounted for the major revenue share in 2018, owing to increasing demand for passenger vehicles in countries in the region.

In addition, developing regulatory scenario and increasing electric vehicle manufacturers in emerging economies are key factors expected to support the regional market growth. Major players inclination towards developing countries in order to track the untapped market is another factor expected to support the growth of target market.

Scope of the Report:

Detailed Segmentation:

Global In-wheel Motor Market, By Propulsion:

• BEV
• FCEV
• HEV
• PHEV

Global In-wheel Motor Market, By Vehicle Type:

• Passenger Car
• Commercial Vehicle

Global In-wheel Motor Market, By Motor Type:

• Axial Flux Motor
• Radial Flux Motor

Global In-wheel Motor Market, By Cooling Type:

• Air Cooling
• Liquid Cooling

Key Players Covered:

Key players operating in the global market includes, Protean Electric, Elaphe Ltd., Ziehl-Abegg, Printed Motor Works, NTN, e-Traction, TM4, ECOmove, NSK, TAJIMA EV, YASA, and Schaeffler Technologies AG & Co. KG.

Key features of the study:

Foresight Market Research provides detailed analysis on global market in our report- Global In-wheel Motor Market by propulsion, vehicle type, motor type, cooling type, and region. The report provides market size (US$ Mn) and compounded annual growth rate (%) for the forecast period: 2019 – 2029, considering 2018 as the actual year. The report also contains in-depth analysis about market drivers, restraints, opportunities, new product launches, product approval, ongoing trends, and regional outlook. The report delivers competitive analysis about leading players in the global in-wheel motor market based on various parameters such as company overview, product portfolio, regional presence, financial performance, distribution strategies, key developments, marketing strategies, and future plans. The analysis from the report would acquaint the marketers and management authorities of companies to make the appropriate decision with respect to their future product launch, ongoing trends, market expansion, and marketing tactics used overall the globe.