In Wheel Motor Market Overview
A report on the In Wheel Motor market was released by MMR. The research combines primary and secondary data, and subject matter experts have examined it from both a local and global standpoint. An important tool for investors, the study offers a thorough analysis of the market’s size and share in every area and category.
One kind of EV (electric vehicle) propulsion technology is the in-wheel motor. Conventional EVs are built with an electric motor in place of the petrol engine. In contrast, the In-wheel motor EV directly powers the wheels by positioning motors right next to each driving wheel. An advantage of electric vehicles (EVs) is their high accelerator responsiveness; additionally, the in-wheel motor, which controls the left and right wheels independently, brings the car’s behaviour closer to the steering. The car automatically moves in the direction the driver wants it to when they accelerate or turn.
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In Wheel Motor Market Report Scope and Research Methodology:
The report provides an in-depth analysis of the In Wheel Motor market at the global, regional, and country levels. It provides a comprehensive analysis of the competitive landscape of the In Wheel Motor industry, including the business strategies adopted by the key players. The report includes a list of the In Wheel Motor key competitors, along with information on their revenue, production capacity, sales, and global presence. SWOT analysis was used to identify the strengths and weaknesses of the key players in the In Wheel Motor industry. Detailed information on the In Wheel Motor market dynamics, including drivers, restraints, opportunities, and challenges, is also provided in the report.
The bottom-up approach was used to estimate the global and regional In Wheel Motor market size. Both primary and secondary research methods were used to gather data on market size, market share, regional insights, market dynamics, the performance of key players, and historical data of the industry. The report also includes a detailed value chain analysis, which helps to understand the manufacturing process of In Wheel Motor, with information on raw materials, customers, and distributors. It also includes Porter’s and PESTLE analysis, as well as market attractiveness, which helps to understand the In Wheel Motor market at the macro and micro levels.
In Wheel Motor Market Dynamics:
Since the transportation industry connects people and facilitates trade and the exchange of goods and ideas, it is vital to the expansion of the economy and society. Alternative road transport propulsion technologies are seeing a spike in interest due to worries about the limited supply of fossil fuels. In addition, plug-in electric vehicles are becoming a more attractive alternative to internal combustion engines due to regulatory restrictions aimed at reducing urban pollution, CO2 emissions, and noise pollution.
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In Wheel Motor Market Segmentation:
by Propulsion
• BEV
• FCEV
• HEV
• PHEV
In terms of propulsion, the hybrid electric vehicle (HEV) segment had the most market share in 2022—roughly XX%—and is anticipated to experience rapid growth going forward. Hybrid and plug-in electric vehicles run mostly on electricity, enhancing the efficiency of conventional car designs. Three categories can be used to group this new breed of automobiles, which are referred to as electric drive cars: plug-in hybrid electric vehicles (PHEVs), all-electric vehicles (EVs), and hybrid electric vehicles (HEVs). When combined, they offer a significant potential to reduce gasoline consumption, and major manufacturers are producing this kind of car. Due to this vehicle type’s extensive manufacture, this segment is anticipated to rise during the projection period.
by Vehicle Type
• Passenger Car
• Commercial Vehicle
With the biggest market share of roughly xx% in 2022, the passenger car segment led the in-wheel motor market by vehicle type. This trend is anticipated to continue till the conclusion of the forecast period. Improved vehicle control in both new and old vehicles, as well as higher power, high torque, and increased efficiency, could be contributing causes to the growing usage of in-wheel motors in passenger cars. The majority of EV producers are focusing on lowering weight, improving vehicle design, and extending overall driving range. EV manufacturers are able to guarantee improved power efficiency and maximum space utilisation by utilising in-wheel motors. Along with EV manufacturers, Tier 1 organisations are keen to improve the efficiency of electric vehicles in terms of weight, driving range, space, and other factors.
by Motor Type
• Axial Flux Motor
• Radial Flux Motor
According to motor type, the Axial Flux Motor segment accounted for the biggest market share and is projected to expand at a compound annual growth rate (CAGR) of xxx% throughout the forecast period. The Permanent Magnet (PM) motor has become a hotspot in power electronics drives and has found several applications in various industries because to its high torque density, efficiency, and power factor. In recent times, PM machine topologies have predominantly been classified as axial flux PM machines and radial flux PM machines. Higher torque density, improved heat removal, and a more compact design are just a few advantages that the axial flux machine has over the radial flux machine. These benefits are increased when the aspect ratio is reduced. Due to space constraints in different drive systems, the axial.
by Cooling Type
• Air-cooled
• Liquid-cooled
by Power Output Type
• Up to 60 KW
• 60–90 KW
• Above 90 KW
by Vehicle Class
• Mid-priced
• Luxury
by Motor Weight
• Less than 20 Kg
• 20-30 Kg
• Above 30 Kg
In Wheel Motor Market Key Players:
• General Motors (US)
• Tesla (US)
• The Orbis Ring Drive Wheel (US)
• ORBIS Wheels, Inc. (US)
• BYD Motors LLC (US)
• DANA TM4 INC. (Canada)
• YASA Limited (UK)
• PMW Dynamics (UK)
• Protean Electric (UK)
• ECOmove GmbH (Germany)
• Bayerische Motoren Werke AG (Germany)
• Volkswagen AG (Germany)
• Schaeffler AG (Germany)
• Ziehl-Abegg SE (Germany)
• ELAPHE LTD. (Slovenia)
• GEM motors d.o.o. (Slovenia)
• NSK Ltd. (Japan)
• NTN Corporation (Japan)
• Toyota Motor Corporation (Japan)
• TAJIMA MOTOR CORPORATION (Japan)
• Nissan Motor Corporation (Japan)
• Honda Motor Co., Ltd. (Japan)
• HYUNDAI MOTOR GROUP (South Korea)
In Wheel Motor Market Regional Insights
Geographically, the report is segmented into several key countries, with market size, growth rate, import and export of In Wheel Motor market in these countries, which covering North America – U.S., Canada, Mexico, Europe – UK, Germany, France, Spain, Italy, Rest of Europe, Asia Pacific – China, India, Japan, Australia, South Korea, ASEAN Countries, Rest of APAC, South America – Brazil, and Middle East and Africa.
Key Questions answered in the In Wheel Motor Market Report are:
- What is the expected In Wheel Motor market size by 2030?
- What will be the CAGR of the In Wheel Motor market during the forecast period?
- Which segment held the largest share in the In Wheel Motor market?
- How is the competitive scenario of the In Wheel Motor market?
- Which are the key factors driving the In Wheel Motor market growth?
- What are the factors restraining the In Wheel Motor market growth?
- Which region holds the maximum share in the In Wheel Motor market?
- Who are the key players in the In Wheel Motor market?
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Key Offerings:
- A detailed Market Overview
- Market Share
- Market Size
- Market Forecast by Revenue
- Market Dynamics- Growth drivers, Restraints, Investment Opportunities, and key trends
- Market Segmentation- A detailed analysis of each segment and their segments
- Competitive Landscape – Leading key players and other prominent key players.
About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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