In-Wheel Motors Market Size, Share, Growth Analysis, By Propulsion (BEV, FCEV), By Vehicle Type (Passenger Car, Commercial Vehicle), By Motor Type, By Cooling Type, By Power Output Type, By Vehicle Class, By Region - Industry Forecast 2025-2032

Global In-Wheel Motors Market size was valued at USD 9.3 billion in 2023 and is poised to grow from USD 12.67 billion in 2024 to USD 150.0 billion by 2032, growing at a CAGR of 36.2% during the forecast period (2025-2032).

In-wheel motors, integrated directly into Electric Vehicle (EV) wheels, are transforming performance by enabling independent wheel control and enhancing acceleration response. Unlike traditional EVs that rely on a single motor for all wheels, in-wheel motors provide distinct advantages, such as improved driving alignment and a more engaging, intuitive driving experience. This advanced technology is not only elevating the handling dynamics of vehicles but is also significantly boosting consumer interest and demand. As the market continues to evolve through October 2023, the incorporation of in-wheel motors is emerging as a key driver of growth within the electric vehicle segment, highlighting a shift towards more sophisticated and responsive automotive systems.

Top-down and bottom-up approaches were used to estimate and validate the size of the Global In-Wheel Motors market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Global In-Wheel Motors Market Segmental Analysis

Global In-Wheel Motors Market is segmented by Propulsion, Vehicle Type, Motor Type, Cooling Type, Power Output Type, Vehicle Class, Motor Weight and Region. Based on Propulsion, the market is segmented into BEV, FCEV, HEV and PHEV. Based on Vehicle Type, the market is segmented into Passenger Car and Commercial Vehicle. Based on Motor Type, the market is segmented into Axial Flux Motor and Radial Flux Motor. Based on Cooling Type, the market is segmented into Air-cooled and Liquid-cooled. Based on Power Output Type, the market is segmented into Up to 60 KW, 60-90 KW and Above 90 KW. Based on Vehicle Class, the market is segmented into Mid-priced and Luxury. Based on Motor Weight, the market is segmented into Less than 20 Kg, 20-30 Kg and Above 30 Kg. Based on Region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.

Driver of the Global In-Wheel Motors Market

The global in-wheel motors market is significantly influenced by the swift growth of the electric vehicle sector. As the demand for low-emission transportation rises, manufacturers worldwide are compelled to boost their production of electric vehicles, spurred by governmental regulations and incentives aimed at promoting long-range, zero-emission models through subsidies and tax credits. This increased interest in electric vehicles has led to a surge in the requirement for their associated parts and components, particularly in-wheel motors. These elements are among the primary drivers fuelling the expansion of the in-wheel motor market on a global scale.

Restraints in the Global In-Wheel Motors Market

The growth of the global in-wheel motors market faces notable challenges due to factors such as increased unsprung weight and elevated costs. As automakers strive to enhance ride quality, they focus on minimizing unsprung mass; however, the integration of in-wheel motors tends to amplify this weight, potentially leading to diminished ride comfort. Consequently, the increased unsprung weight, coupled with the high expenses associated with in-wheel motor systems, may restrict their adoption in vehicles. These constraints are likely to hinder the overall advancement and expansion of the in-wheel motor market throughout the forecast period.

Market Trends of the Global In-Wheel Motors Market

The Global In-Wheel Motors market is poised for significant growth, driven by increasing government initiatives aimed at promoting electric vehicles (EVs) over traditional combustion engines. Regions such as Asia Pacific, Europe, and the UK are actively offering incentives to potential EV buyers, thereby enhancing the appeal of electric mobility. This push towards sustainable transport, coupled with a greater focus on efficient energy conversion and space optimization in vehicle design, is expected to drive the demand for innovative in-wheel motors. As charging infrastructure expands alongside electric vehicle adoption, the in-wheel motor market is set to flourish throughout the analysis period, reflecting a broader trend toward electrification in the automotive industry.