In Wheel Motor Market Global Outlook and Forecast 2024-2030

In Wheel Motor Market Growth or Demand Increase or Decrease for what contains ?

The demand for in-wheel motors is expected to significantly increase due to the rising adoption of electric vehicles (EVs) and the numerous benefits in-wheel motors offer, such as better vehicle handling and increased packaging space.

The market for electric vehicles is expanding rapidly. Despite the conventional automotive market's dismal performance due to the COVID-19 pandemic, global EV sales climbed by 38% in 2020 compared to 2019. Rising demand for low-emission vehicles, as well as government regulations that encourage long-range, zero-emission vehicles through subsidies and tax incentives, have prompted manufacturers to offer electric vehicles abroad. As electric vehicle sales increase, so does the demand for electric vehicle parts and components, which drives market growth.

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In Wheel Motor Market CAGR Estimation:

The in-wheel motor market is projected to grow at a compound annual growth rate (CAGR) of 40.5% from 2024 to 2030.

In Wheel Motor Market Overview:

The Maximise Market Research research gives clients a thorough overview of the competitive landscape and serves as a valuable resource for strategic planning. The thorough In Wheel Motor Market overview contains detailed information on market size, trade statistics, key players, and a variety of industry indicators such as the life cycle and current trends.

In Wheel Motor Market Segmentation:

The in-wheel motor market is segmented by:

Propulsion:
- Battery Electric Vehicle (BEV)
- Fuel Cell Electric Vehicle (FCEV)
- Hybrid Electric Vehicle (HEV)
- Plug-in Hybrid Electric Vehicle (PHEV)

Vehicle Type:
- Passenger Car
- Commercial Vehicle

Motor Type:
- Axial Flux Motor
- Radial Flux Motor

By Motor Type, the Axial Flux Motor segment has the biggest market share and is predicted to increase at a CAGR of % throughout the forecast period. Because of its high torque density, efficiency, and power factor, the Permanent Magnet (PM) motor has found several industrial applications and has emerged as a hotspot in power electronics drive technology. Recently, PM machine topologies have primarily been classified as radial flux PM machines or axial flux PM machines. The axial flux machine has several advantages over the radial flux machine, including higher torque density, better heat removal, and a more compact construction, which are accentuated when the aspect ratio is low.

Cooling Type:
- Air-cooled
- Liquid-cooled

Power Output Type:
- Up to 60 KW
- 60–90 KW
- Above 90 KW

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In Wheel Motor Market Growth or Demand in which regions??

The growth or demand for in-wheel motors is projected to increase in the following regions:

Asia-Pacific:
- The largest market share in 2023, driven by rapid urbanization, rising EV sales, and increasing demand for eco-friendly transportation in countries like China, Japan, and India.
Europe:
- Expected to grow rapidly due to stringent emission regulations, investments by major automotive OEMs, and high EV sales in countries like Germany and the United Kingdom.
North America:
- Growing interest in EVs and supportive government policies.
Middle East and Africa:
- Increasing interest in sustainable transportation solutions.

In Wheel Motor Market Scope Methodology:

The In Wheel Motor market is competitive in terms of technical adoption, financial strength, portfolio, mergers and acquisitions, joint ventures, and strategic alliances. A comprehensive analysis of the In Wheel Motor Market’s drivers, limitations, opportunities, and problems. The In Wheel Motor market estimates and growth rates were obtained using a bottom-up methodology.

To obtain insight into In Wheel Motor Market penetration, pricing dynamics, demand analysis, and competitive landscape, the study did regional analysis at the local, regional, and worldwide levels. Essential information about the In Wheel Motor Market, including players, investors, and new entrants, is provided to help with the creation of marketing strategies and investment plans.

The In Wheel Motor Market was investigated using both primary and secondary data collection techniques. Primary methods included surveys, questionnaires, and interviews with industry executives and business owners, while secondary data sources included news announcements, annual and financial reports, white papers, and so on. The SWOT analysis was used to identify market vulnerabilities and weaknesses, and the PORTER framework was used to assess industry competitiveness in the energy-efficient lighting market.

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In Wheel Motor Market Key Players:

1. General Motors (US)
2. Tesla (US)
3. The Orbis Ring Drive Wheel (US)
4. ORBIS Wheels, Inc. (US)
5. BYD Motors LLC (US)
6. DANA TM4 INC. (Canada)
7. YASA Limited (UK)
8. PMW Dynamics (UK)
9. Protean Electric (UK)
10.ECOmove GmbH (Germany)
11.Bayerische Motoren Werke AG (Germany)
12.Volkswagen AG (Germany)
13.Schaeffler AG (Germany)
14.Ziehl-Abegg SE (Germany)
15.ELAPHE LTD. (Slovenia)
16.GEM motors d.o.o. (Slovenia)
17.NSK Ltd. (Japan)
18.NTN Corporation (Japan)
19.Toyota Motor Corporation (Japan)
20.TAJIMA MOTOR CORPORATION (Japan)
21.Nissan Motor Corporation (Japan)
22.Honda Motor Co., Ltd. (Japan)
23.HYUNDAI MOTOR GROUP (South Korea)

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Key questions answered in the In Wheel Motor Market are:

What is In Wheel Motor Market?
What is the growth rate of the In Wheel Motor Market?
Which are the factors expected to drive the In Wheel Motor Market growth?
What are the different segments of the In Wheel Motor Market?
What are the factors restraining the growth of the In Wheel Motor Market?
What is the demand pattern of the In Wheel Motor Market?
What major challenges could the In Wheel Motor Market face in the future?

Key Offerings:

Past Market Size and Competitive Landscape
Past Pricing and price curve by region
Market Size, Share, Size Forecast by different segment |
Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
Market Segmentation – A detailed analysis by segment with their sub-segments and Region
Competitive Landscape – Profiles of selected key players by region from a strategic perspective

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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