In-Wheel Motor Market Report: Trends, Forecast and Competitive Analysis to 2030

In-Wheel Motor Trends and Forecast

The future of the global in-wheel motor market looks promising with opportunities in the passenger car and commercial vehicle markets. The global in-wheel motor market is expected to reach an estimated $14.1 billion by 2030 with a CAGR of 31.2% from 2024 to 2030. The major drivers for this market are increased desire for characteristics that are convenient and safe, growth in the market for electric cars, as well as, extensive range of uses for electric motors, and growing worries about the environment, including air and noise pollution, natural resource depletion, and global warming.

A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.

In-Wheel Motor by Segment

The study includes a forecast for the global in-wheel motor by motor type, propulsion, power output type, vehicle type, and region.

In-Wheel Motor Market by Motor Type [Shipment Analysis by Value from 2018 to 2030]:

• Axial Flux Motor
• Radial Flux Motor

In-Wheel Motor Market by Propulsion [Shipment Analysis by Value from 2018 to 2030]:

• Fuel Cell Electric Vehicles
• Battery Electric Vehicles
• Hybrid Electric Vehicles
• Plug-In Hybrid Electric Vehicles

In-Wheel Motor Market by Power Output Type [Shipment Analysis by Value from 2018 to 2030]:

• Up To 60 KW
• 60-90 KW
• Above 90 KW

In-Wheel Motor Market by Vehicle Type [Shipment Analysis by Value from 2018 to 2030]:

• Passenger Cars
• Commercial Vehicles

In-Wheel Motor Market by Region [Shipment Analysis by Value from 2018 to 2030]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of In-Wheel Motor Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies in-wheel motor companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the in-wheel motor companies profiled in this report include-

• MW Motors
• ECOMOVE
• Lordstown Motors
• NTN
• Schaeffler
• NSK
• ZIEHL-ABEGG
• e-Traction
• NISSAN MOTOR
• Elaphe Propulsion Technologies

In-Wheel Motor Market Insights

Lucintel forecasts that axial flux motor will remain larger segment over the forecast period because it has a higher power density and efficiency than radial flux motors.

Within this market, passenger car will remain larger segment due to the enhanced efficiency, high torque, higher power, and improved vehicle control for both new and existing cars.

APAC will remain the largest region over the forecast period due to substantial government subsidies given in nations like China to encourage the electrification of automobiles.

Features of the Global In-Wheel Motor Market

Market Size Estimates: In-wheel motor market size estimation in terms of value ($B).

Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.

Segmentation Analysis: In-wheel motor market size by motor type, propulsion, power output type, vehicle type, and region in terms of value ($B).

Regional Analysis: In-wheel motor market breakdown by North America, Europe, Asia Pacific, and Rest of the World.

Growth Opportunities: Analysis of growth opportunities in different motor type, propulsion, power output type, vehicle type, and regions for the in-wheel motor market.

Strategic Analysis: This includes M&A, new product development, and competitive landscape of the in-wheel motor market.

Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

Q1. What is the in-wheel motor market size?

Answer: The global in-wheel motor market is expected to reach an estimated $14.1 billion by 2030.

Q2. What is the growth forecast for in-wheel motor market?

Answer: The global in-wheel motor market is expected to grow with a CAGR of 31.2% from 2024 to 2030.

Q3. What are the major drivers influencing the growth of the in-wheel motor market?

Answer: The major drivers for this market are increased desire for characteristics that are convenient and safe, growth in the market for electric cars, as well as, extensive range of uses for electric motors, and growing worries about the environment, including air and noise pollution, natural resource depletion, and global warming.

Q4. What are the major segments for in-wheel motor market?

Answer: The future of the global in-wheel motor market looks promising with opportunities in the passenger car and commercial vehicle markets.

Q5. Who are the key in-wheel motor market companies?

Answer: Some of the key in-wheel motor companies are as follows:

• MW Motors
• ECOMOVE
• Lordstown Motors
• NTN
• Schaeffler
• NSK
• ZIEHL-ABEGG
• e-Traction
• NISSAN MOTOR
• Elaphe Propulsion Technologies

Q6. Which in-wheel motor market segment will be the largest in future?

Answer: Lucintel forecasts that axial flux motor will remain larger segment over the forecast period because it has a higher power density and efficiency than radial flux motors.

Q7. In in-wheel motor market, which region is expected to be the largest in next 5 years?

Answer: APAC will remain the largest region over the forecast period due to substantial government subsidies given in nations like China to encourage the electrification of automobiles.

Q.8 Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% customization without any additional cost.

This report answers following 11 key questions:

• Q.1. What are some of the most promising, high-growth opportunities for the in-wheel motor market by motor type (axial flux motor and radial flux motor), propulsion (fuel cell electric vehicles, battery electric vehicles, hybrid electric vehicles, and plug-in hybrid electric vehicles), power output type (up to 60 KW, 60-90 KW, and above 90 KW), vehicle type (passenger cars and commercial vehicles), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
• Q.2. Which segments will grow at a faster pace and why?
• Q.3. Which region will grow at a faster pace and why?
• Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
• Q.5. What are the business risks and competitive threats in this market?
• Q.6. What are the emerging trends in this market and the reasons behind them?
• Q.7. What are some of the changing demands of customers in the market?
• Q.8. What are the new developments in the market? Which companies are leading these developments?
• Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
• Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
• Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?