Global In-Wheel Motor Market 2023-2029

Global In-Wheel Motor Market 2023-2029

An in-wheel motor, also known as a hub motor, is an electric motor that is integrated into a vehicle's wheel hub. It provides direct power to the wheel without the need for a transmission or drive shaft, resulting in a more efficient and compact design. In-wheel motors can be used in both electric and hybrid vehicles, and they offer several advantages over traditional powertrain systems. One advantage of in-wheel motors is their ability to provide independent control of each wheel, allowing for better traction control and stability in difficult driving conditions. They also provide more space for designers to work with, as they eliminate the need for a bulky engine compartment and transmission system. In-wheel motors also offer regenerative braking, which captures energy during braking and stores it in the vehicle's battery for later use. The global in-wheel motor market is projected to rise by USD 20.1 billion by 2029, according to the latest market study results. It is anticipated to expand at a CAGR of 23.25 percent during the forecast period.

The report covers market size and growth, segmentation, regional breakdowns, competitive landscape, trends and strategies for global in-wheel motor market. It presents a quantitative analysis of the market to enable stakeholders to capitalize on the prevailing market opportunities. The report also identifies top segments for opportunities and strategies based on market trends and leading competitors’ approaches.

This industry report offers market estimates and forecasts of the global market, followed by a detailed analysis of the propulsion type, cooling type, motor type, vehicle type, power output, and region. The global market for in-wheel motor can be segmented by propulsion type: BEV, FCEV, PHEV. The BEV segment is estimated to account for the largest share of the global in-wheel motor market. In-wheel motor market is further segmented by cooling type: air cooling, liquid cooling. The liquid cooling segment held the largest revenue share in 2022. Based on motor type, the in-wheel motor market is segmented into: axial flux motor, radial flux motor. Globally, the axial flux motor segment made up the largest share of the in-wheel motor market. On the basis of vehicle type, the in-wheel motor market also can be divided into: passenger cars, commercial vehicles. The passenger cars segment was the largest contributor to the global in-wheel motor market in 2022. In-wheel motor market by power output is categorized into: up to 60 kw, 60-90 kw, above 90 kw. The in-wheel motor market by region can be segmented into: North America, Europe, Asia-Pacific, Rest of the World (RoW).

Market Segmentation

By propulsion type: BEV, FCEV, PHEV

By cooling type: air cooling, liquid cooling

By motor type: axial flux motor, radial flux motor

By vehicle type: passenger cars, commercial vehicles

By power output: up to 60 kw, 60-90 kw, above 90 kw

By region: North America, Europe, Asia-Pacific, Rest of the World (RoW)

The report has also analysed the competitive landscape of the global in-wheel motor market with some of the key players being Protean Electric Limited, NTN Corporation, NSK Limited, Printed Motor Works Limited, Elaphe Propulsion Technologies Ltd., among others. In this report, key players and their strategies are thoroughly analyzed to understand the competitive outlook of the market.



Scope of the Report

• To analyze and forecast the market size of the global in-wheel motor market.
• To classify and forecast the global in-wheel motor market based on propulsion type, cooling type, motor type, vehicle type, power output, region.
• To identify drivers and challenges for the global in-wheel motor market.
• To examine competitive developments such as mergers & acquisitions, agreements, collaborations and partnerships, etc., in the global in-wheel motor market.
• To identify and analyze the profile of leading players operating in the global in-wheel motor market.

• Gain a reliable outlook of the global in-wheel motor market forecasts from 2023 to 2029 across scenarios.
• Identify growth segments for investment.
• Stay ahead of competitors through company profiles and market data.
• The market estimate for ease of analysis across scenarios in Excel format.
• Strategy consulting and research support for three months.
• Print authentication provided for the single-user license.