A Revolution in the Automotive Industry : In-wheel Motor Market Projected to Reach $12.04 Billion by 2030

OREGAON, PORTLAND, UNITED STATES , November 2, 2023 /EINPresswire.com/ -- According to the report published by Allied Market Research, the global in-wheel motor market generated $577.20 million in 2020, and is estimated to generate $12.04 billion by 2030, witnessing a CAGR of 35.8% from 2021 to 2030. The report provides a comprehensive analysis of changing market trends, key segments, top investment pockets, value chain, regional scenario, and competitive landscape.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 - https://www.alliedmarketresearch.com/request-sample/10702

High demand for safety and convenience features, increase in demand for electric vehicles, and stringent safety regulations set by the government for the automotive industry drive the growth of the global in-wheel motor market. However, high manufacturing cost and decrease in global vehicle production hinder the market growth. On the other hand, increase in number of applications regarding the use of electric motors and surge in penetration of electric vehicles present new opportunities in the coming years.

An in-wheel motor is an essential part of transmission assembly, which is used to drive wheels of electric vehicles, thereby offering better control to vehicle. Automotive in-wheel motors are used in all electric vehicles, including passenger cars, light commercial vehicles (LCVs), and heavy commercial vehicles (HCVs). In-wheel motor systems are employed to improve performance of various electric vehicles. In-wheel motor helps to supply torque to the associated tires and generate more power to enhance vehicle’s efficiency. Therefore, this leads to growth of the in-wheel motor market.

𝐋𝐢𝐬𝐭 𝐎𝐟 𝐤𝐞𝐲 𝐏𝐥𝐚𝐲𝐞𝐫𝐬:
Ecomove GmbH,
e-Traction B.V.,
Elaphe Ltd.,
MW Motors,
Lordstown Motors,
NTN Corporation,
NSK,
Nissan Motor Company, LTD.,
Schaeffler AG,
Ziehl-Abegg SE.

𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰 - https://www.alliedmarketresearch.com/automotive-in-wheel-motors-market/purchase-options

𝐓𝐡𝐞 𝐫𝐞𝐩𝐨𝐫𝐭 𝐨𝐟𝐟𝐞𝐫𝐬 𝐝𝐞𝐭𝐚𝐢𝐥𝐞𝐝 𝐬𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧 𝐨𝐟 𝐭𝐡𝐞 𝐠𝐥𝐨𝐛𝐚𝐥 𝐢𝐧-𝐰𝐡𝐞𝐞𝐥 𝐦𝐨𝐭𝐨𝐫 𝐦𝐚𝐫𝐤𝐞𝐭 𝐛𝐚𝐬𝐞𝐝 𝐨𝐧 𝐩𝐫𝐨𝐩𝐮𝐥𝐬𝐢𝐨𝐧 𝐭𝐲𝐩𝐞, 𝐯𝐞𝐡𝐢𝐜𝐥𝐞 𝐭𝐲𝐩𝐞, 𝐯𝐞𝐡𝐢𝐜𝐥𝐞 𝐜𝐥𝐚𝐬𝐬, 𝐜𝐨𝐨𝐥𝐢𝐧𝐠 𝐭𝐲𝐩𝐞, 𝐩𝐨𝐰𝐞𝐫 𝐨𝐮𝐭𝐩𝐮𝐭 𝐭𝐲𝐩𝐞, 𝐰𝐞𝐢𝐠𝐡𝐭, 𝐚𝐧𝐝 𝐫𝐞𝐠𝐢𝐨𝐧.

𝐁𝐚𝐬𝐞𝐝 𝐨𝐧 𝐩𝐫𝐨𝐩𝐮𝐥𝐬𝐢𝐨𝐧 𝐭𝐲𝐩𝐞, the hybrid electric vehicles segment held the highest share in 2020, accounting for nearly half of the total share, and is estimated to maintain its leadership status throughout the forecast period. However, the battery electric vehicles segment is expected to portray the largest CAGR of 38.3% from 2021 to 2030.

𝐁𝐚𝐬𝐞𝐝 𝐨𝐧 𝐯𝐞𝐡𝐢𝐜𝐥𝐞 𝐭𝐲𝐩𝐞, the passenger cars segment contributed to the highest share in 2020, holding more than four-fifths of the global in-wheel motor market, and is estimated to continue its dominant share in terms of revenue during the forecast period. However, the commercial vehicles segment is projected to register the fastest CAGR of 38.3% from 2021 to 2030.

𝐁𝐚𝐬𝐞𝐝 𝐨𝐧 𝐫𝐞𝐠𝐢𝐨𝐧, Asia-Pacific accounted for the largest share in terms of revenue in 2020, contributing to more than half of the total share, and is estimated to continue its lead by 2030. However, LAMEA is estimated to witness the highest CAGR of 40.2% during the forecast period.

𝐈𝐧𝐭𝐞𝐫𝐞𝐬𝐭𝐞𝐝 𝐭𝐨 𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐭𝐡𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭? 𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 - https://www.alliedmarketresearch.com/purchase-enquiry/10702

Factors such as high demand for safety and convenience features, rise in demand for electric vehicles, and stringent safety regulations set by governments for the automotive industry supplements growth of the global in-wheel motor market. Moreover, high manufacturing cost and decrease in global vehicle production hampers growth of the global market. However, wide number of applications employing use of electric motors and increase in penetration of electric vehicles are the factors that are expected to provide lucrative opportunities, thereby supplementing growth of the global in-wheel motor market.

𝐒𝐢𝐦𝐢𝐥𝐚𝐫 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐖𝐞 𝐇𝐚𝐯𝐞 𝐨𝐧 𝐀𝐮𝐭𝐨𝐦𝐨𝐭𝐢𝐯𝐞 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲:

https://www.alliedmarketresearch.com/electric-vehicle-motor-market - Electric Vehicle Motor Market

https://www.alliedmarketresearch.com/traction-motor-market-A06635 - Traction Motor Market

https://www.alliedmarketresearch.com/global-electric-bus-traction-motor-market-A07129 - Electric Bus Traction Motor Market

https://www.alliedmarketresearch.com/electric-passenger-car-traction-motor-market-A07206 - Electric Passenger Car Traction Motor Market

https://www.alliedmarketresearch.com/two-wheeler-hub-motor-market-A12288 - Two-Wheeler Hub Motor Market

David Correa
Allied Market Research
+ +1 800-792-5285
email us here
Visit us on social media:
Facebook
Twitter
LinkedIn