In Wheel Motor

In Wheel Motor

In-wheel motors are installed on wheels, the parts of a vehicle that experience the most wear and tear in daily use. This feature provides several benefits to EV designers, such as reducing weight and improving acceleration. Furthermore, it also aids in lowering vehicle part count, complexity, and cost by integrating power electronics into the system. The in-wheel motor market is growing significantly during the forecast period. The growing popularity of electric vehicles is driving the demand for in-wheel motors, as they provide a more efficient and compact solution for electric powertrains. Advancements in technology, such as improvements in battery technology and the development of advanced control systems, have made in-wheel motors more feasible and attractive for electric vehicles. Additionally, government regulations aimed at reducing greenhouse gas emissions and promoting the use of electric cars are also driving the demand for in-wheel motors.

The in-wheel motor market is expected to grow at a substantial CAGR of 35% during the forecast period owing to the increasing penetration of electric vehicles globally. The surge in demand for electric vehicles globally is one of the key factors driving the market's growth during the forthcoming years. According to the International Energy Agency (IEA), global sales of electric vehicles (EVs) reached 6.6 million in 2021, representing a 76% increase from 2020. The IEA predicts that sales of EVs will continue to grow, reaching 13 million units in 2025 and 30 million units by 2030

• Based on the propulsion, the market is segmented into battery electric vehicle, hybrid electric vehicle, and plug-in electric vehicle. The battery electric vehicle is anticipated to grow with significant CAGR during the forecast period. In-wheel motors are a popular option for BEVs as they provide a more compact and efficient solution for electric powertrains. In-wheel motors can help reduce the weight of the vehicle and improve acceleration, which can result in better fuel efficiency and reduced emissions. The increasing demand for electric vehicles and the growing popularity of BEVs are driving the demand for in-wheel motors. In-wheel motors can provide several benefits to BEVs, including reduced weight, improved efficiency, and increased maneuverability. As a result, in-wheel motors are expected to become a more common feature in BEVs in the coming years.
• By vehicle type, the market is characterized into passenger cars and commercial vehicles. The passenger vehicle segment held a significant share of the market in 2022 as in wheel motors are being used in a variety of passenger vehicle types, including sedans, SUVs, and electric vehicles. Moreover, rising product launch is also driving the segment growth. For instance, in January 2023, The Dongfeng Fengshen E70 is the world's first passenger car that has been fully approved by the Chinese Ministry of Industry and Information Technology (MIIT) to use an in-wheel motor powered by Protean Electric's ProteanDrive technology.
• Based on vehicle class, the market is bifurcated into mid-priced and luxury. In the in-wheel motor market, the luxury segment is expected to grow with high CAGR during the forecast period. In-wheel motors can provide several benefits to luxury vehicles, including improved performance, increased efficiency, and reduced emissions. In-wheel motors can also help reduce the weight of the vehicle, which can result in improved handling and reduced wear and tear on the vehicle's suspension and tires.
• By cooling type, the market is bifurcated into air cooling and liquid cooling. The air cooling segment held a significant share of the market in 2022. Air cooling systems for in-wheel motors typically consist of a series of fins or blades that are attached to the rotor of the in-wheel motor. As the motor rotates, air is drawn through the fins, which helps to dissipate the heat generated by the motor. The air cooling segment of the in-wheel motor market is expected to grow in the coming years, driven by the increasing demand for electric vehicles and the adoption of advanced technologies. In-wheel motors with air cooling systems can provide several benefits, including improved efficiency and reduced noise levels.
• Based on power output type, the market is categorized into up to 60 KW, 60-90 KW, and above 90 KW. The 60-90 KW segment is anticipated to grow with high CAGR during the forecast period as it is majorly used power range in the motors. Several companies offer motors under this category, thus driving the segmental growth. For instance, Elaphe offers M700 motor, which is highly compact high-torque in wheel motor designed to fit inside a standard 15 or 16 inch rim. It has over 700Nm of peak torque, 70 KW of peak tower, and 50 KW of continuous power, in several passenger cars. Other companies, including Printed Motor Works, NTN Corporation, Protean Electric also provide motors under this power input, thus driving the growth of the segment.
• Based on weight, the market is segmented into less than 20kg, 20kg to 30kg, and more than 30kg. The 20kg to 30kg held a significant share of the market in 2022. The 20-30kg segment of the in-wheel motor market refers to the weight range of in-wheel motors used in small electric vehicles and other lightweight applications. In-wheel motors in this weight range typically have a power output of 10-30 kW and are designed to provide efficient and compact power delivery. The 20-30kg segment of the in-wheel motor market is expected to grow in the coming years, driven by the increasing demand for small electric vehicles and the adoption of advanced technologies.
• For a better understanding of the market adoption of the dental clensing tablet industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. APAC held a dominant share of the market in 2022 owing to the surge in the sales of electric vehicles across countries such as China, and Japan. Moreover, government initiatives and regulations aimed at promoting the adoption of electric vehicles and reducing emissions are expected to boost the in-wheel motor market in the Asia Pacific region. For example, in China, the government has set a target of increasing the share of new energy vehicles (NEVs) in total vehicle sales to 20% by 2025. In addition, the in-wheel motor market in the Asia Pacific region is highly competitive, with several players operating in the market. Some of the key players in the market include Protean Electric, Aptiv PLC, and Axesstorm.
• Some of the major players operating in the market include ECOmove GmbH; Elaphe Propulsion Technologies Ltd.; Saietta Group; Lordstown Motors; MW Motors; NTN Corporation; Schaeffler AG; NSK Ltd.; Nissan Motor Co., Ltd.; and ZIEHL-ABEGG SE.