In-wheel Motors Market Overview:
Functions such as stability and traction control in conventional vehicles are implemented by slowing down the wheel that is spinning faster than it should be. However, due to its limitations and slow response, the need of an in-wheel motor to unlock a skidding tire with the help of driving force occurs. In-wheel motors help in delivering controlled motoring or braking torque in a millisecond thus improving traction and stability control.
In-wheel motors are engaged in providing different torques to different wheels resulting in markedly improved handling and stability during high speeds. In-wheel motors help in increasing the overall efficiency of the vehicle by approx. 20% and reducing the overall propulsion system price which is expected to drive the global in-wheel motors market.
In-wheel Motors Market Size To Expand at a Notable CAGR Of 20% During 2019 – 2023
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Key Players In-wheel Motors Market are-
The prominent players in the global In-wheel Motors Market include Schaeffler AG (Germany), Nissan Motors Corporation (Japan), Tesla (US), e-Traction B.V. (Netherlands), Printed Motors Works (UK), ZIEHL-ABEGG (Germany), Elaphe Ltd (Slovenia), NTN Corporation (Japan), Protean Electric (US), ECOmove GmbH (Germany), among others.
In-wheel Motors Market Segmentation:
The global In-wheel Motors Market is segmented on the basis of motor type, power output, vehicle type, cooling type, and region.
On the basis of motor type, the market has been segmented into inner rotor type and outer rotor type.
On the basis of power output, the market has been segmented into Up to 50 KW, 50-90 KW, and Above 90 KW.
On the basis of vehicle type, the market has been segmented into passenger cars, light commercial vehicles, and heavy commercial vehicles.
On the basis of cooling type, the market has been segmented into air cooling and liquid cooling.
Market Research Analysis:
In terms of region, the global market for the In-wheel Motors is segmented into North America, Europe, Asia-Pacific, and the Rest of the World. The Asia Pacific region is estimated to witness the highest CAGR during the forecast period owing to significant production of electric vehicles in countries such as India, China, and Japan. Moreover, rising demand for efficient and cost-effective alternatives for conventional vehicles to augment the growth of the global in-wheel motors market during the forecast period.
Electric vehicle manufacturers in Europe and North America have adopted advanced technologies to make vehicles light weight and efficient. Furthermore, OEMs in the region are investing in the R&D department to make in-wheel motors free from shocks and dirts. The in-wheel motors market is estimated to register substantial growth owing to its capability to enhance efficiency of the vehicle by 20% and thus eliminating mechanical componets, thus reducing wear and tear.
Geographically, the global In-wheel motors market has been segmented into four major regions namely North America, Europe, Asia-Pacific, and the Rest of the World. The Europe region is estimated to hold the prominent market share during the forecast period owing to stringent emission norms & regulations, and investments by prominent vehicle OEMs to cater the demand for fuel-efficient and light weight vehicles in the region. Furthermore, Asia Pacific is expected to register substantial growth in the in-wheel motors market with the increasing sales of electric vehicles in the region supported by government schemes and incentives.
Table of Contents
1 Executive Summary
2 Scope of The Report
2.1 Market Definition
2.2 Scope of The Study
2.2.2 Research Objective
2.3 Research Process
2.3.1 Primary Research
2.3.2 Secondary Research
2.4 Market Size Estimation
2.5 Forecast Model
3 Market Landscape
3.1 Porter’s Five Forces Analysis
3.1.1 Threat of New Entrants
3.1.2 Bargaining Power of Buyers
3.1.3 Threat of Substitutes
3.1.4 Segment Rivalry
3.1.5 Bargaining Power of Buyers
3.2 Value Chain/Supply Chain Analysis
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