In-Wheel Motor Market Growth, Size, Share, Trends, and Forecast 2032

According to the report published by Zion Market Research, the global In-Wheel Motor Market size was valued at USD 1.47 Billion in 2023 and is predicted to reach USD 21.93 Billion by the end of 2032. The market is expected to grow with a CAGR of 35.00% during the forecast period. The report analyzes the global In-Wheel Motor Market’s growth drivers, restraints, and impact on demand during the forecast period. It will also help navigate and explore the arising opportunities in the In-Wheel Motor Market industry.

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Global In-Wheel Motor Market: Overview

In-wheel motor systems are employed to improve the performance of various electric vehicles. These systems replace driveshaft, transmission, differentials, and axles. The in-wheel motors also help in supplying torque to their associated tires along with generating more power for enhancing a vehicle’s efficiency. The demand and popularity of the in-wheel motor market across the globe can be attributed to the

Global In-Wheel Motor Market: Growth Factors

The major growth driver of the global in-wheel motor market in the future is the ability of in-wheel motors to improve the performance of electric vehicles by supplying torque to their associated tires and generating increased power to enhance the electric vehicles’ efficiency. Other factors that are anticipated to contribute notably toward the expansion of the in-wheel motor market globally over the estimated timeframe include the better government subsidies and support, the rising range of diverse vehicles featuring in-wheel motors, and the growing popularity of electric vehicles across the world. Furthermore, the reduced weight and increased space in vehicles equipped with in-wheel motors are projected to further drive the market for in-wheel motor globally in the years ahead.

However, high manufacturing costs and complicated speed wheel control might restrain this global market’s growth over the estimated timeframe.

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Global In-Wheel Motor Market: Segmentation

The global in-wheel motor market is categorized into propulsion, motor type, vehicle type, power output type, and cooling type.

Based on propulsion, the in-wheel motor market is classified into PHEV, BEV, HEV, and FCEV. The BEV segment is projected to register the highest rate of rate over the estimated timeline, owing to the growing range of diverse vehicles, such as Nissan Leaf, BMW i3, Tesla Model S, Renault Zoe, etc.

On the basis of motor type, this market includes radial flux and axial flux.

The vehicle type segment of this market comprises commercial and passenger vehicles.Passenger cars are likely to dominate the market for in-wheel motor globally in the years ahead, owing to their high torque, enhanced fuel efficiency, increased power, etc.

By power output type, this global market is segmented into more than 90 KW, between 60 and 90 KW, and less than 60 KW.

The cooling type segment of this market comprises liquid cooling and air cooling.

In-Wheel Motor Market : Report Scope

Global In-Wheel Motor Market: Regional Analysis

By region, this global market is primarily divided into Asia Pacific, North America, the Middle East and Africa, Europe, and Latin America. The Asia Pacific In-Wheel Motor Market is likely to emerge as the fastest growing market globally in the years ahead. China is the major contributor to this regional market, owing to the huge subsidies for electrification of vehicles by the country’s government. The rising sales of electric vehicles, as in-wheel motors are only used in electric, across the region is estimated to further drive this regional market in the future. North American and European regions market for in-wheel motor globally and are likely to hold major shares in this global market over the estimated time period. This can be attributed to the growing trend of autonomous vehicles and the rising penetration of electric automobiles in these regions.

Global In-Wheel Motor Market: Competitive Players

Some most important players of the global in-wheel motor market are:

• NTN
• Printed Motor Works
• ZIEHL-ABEGG
• BMW
• BYD
• Tesla
• Volkswagen
• Nissan Motor Corporation
• Elaphe
• Protean Electric
• among others.

The Global In-Wheel Motor Market is segmented as follows:

By propulsion 

• PHEV
• BEV 
• HEV 
• FCEV 

By motor type 

• radial flux
• axial flux 

By vehicle type 

• commercial 
• passenger vehicles 

By power output type 

• more than 90 KW 
• between 60 and 90 KW
• less than 60 KW

By cooling type 

• liquid cooling
• air cooling 

Global In-Wheel Motor Market: Regional Segment Analysis

• North America
  • The U.S.
• Europe
  • The UK
  • France
  • Germany
• The Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• The Middle East and Africa

What Reports Provides

• Full in-depth analysis of the parent market
• Important changes in market dynamics
• Segmentation details of the market
• Former, on-going, and projected market analysis in terms of volume and value
• Assessment of niche industry developments
• Market share analysis
• Key strategies of major players
• Emerging segments and regional markets
• Testimonials to companies in order to fortify their foothold in the market.