Skip to main content

In-Wheel Motor Market to Grow at CAGR of 27.10% through 2028


 The global in-wheel motor market size to be valued at $4,120.60 million by 2028, surging from $612.0 million in 2020, at a noteworthy CAGR of 27.10%.

Global In-wheel Motor Market Insight

The increasing utilization of electric vehicles in the passenger and commercial vehicles category is expected to aid the growth of the market in the forecast period since in-wheel motors are utilized in the electric vehicles. The increasing emphasis on the utilization of vehicles with better propulsion systems such as battery electric vehicle is aiding the growth of this market. As vehicles that operate on conventional propulsion such as gasoline and hybrid electric vehicle emit harmful gas like NO2, Sulphur dioxide, carbon monoxide, and others and pollute the environment, it has propelled the demand for electric vehicles aiding the in-wheel motor market growth.

The increasing commercialization of wheel motors with a greater number of OEMs starting manufacturing them for utilizing in the passenger and commercial vehicles is expected to open new scope of opportunities for the in-wheel motor market in the forecast period. In-wheel motors provide greater control of vehicle dynamics – especially with a motor at each wheel, high regenerative power is produced. These new developments such as wheel hub drive and hub motor are anticipated to open new scope of opportunities for the global in-wheel motor market.

Grab | Download an Exclusive PDF Sample of In-Wheel Motor Market@ https://www.researchdive.com/download-sample/3331

Global In-wheel Motor Market, Segmentation

The global in-wheel motor market is segmented based on vehicle type, propulsion type, distribution channel, and region.

Vehicle Type:

The vehicle type segment is further classified into passenger vehicles and commercial vehicles. Among these, the passenger vehicles sub-segment is anticipated to generate the maximum revenue and surpass $3,284.30 million by 2028, with an increase from $487.6 million in 2020 as well as attain the fastest growth.

Propulsion Type:

The propulsion type segment is further classified in to battery electric vehicle, hybrid electric vehicle, and plug-in hybrid electric vehicle. Among these, hybrid electric vehicle sub-segment is anticipated to have fastest growth in the forecast period and surpass $1,496.20 million by 2028, with an increase from $213.8 million in 2020.

Request an on-Demand Customization Report and Avail 10% OFF on In-Wheel Motor Market@ https://www.researchdive.com/request-for-customization/3331

Distribution Channel:

The distribution channel segment is further divided into original equipment manufacturer and aftermarket. The original equipment manufacturer sub-segment is projected to be most dominating in the global market and register a revenue of $3,041.00 million during the forecast timeframe of 2021-2028.

Region:

The in-wheel motor market for the Asia-Pacific region generated a revenue of $241.4 million in 2020 and is further projected to reach up to $1,682.40 million by 2028.

Analysis of Covid-19 Impact on In-wheel Motor Market

The Covid-19 impact on in-wheel motor market share has been negative. The decline in global mobility across the nations due to the imposition of the lockdown has hindered the growth of the in-wheel motor market during the Covid 19 pandemic. During the pandemic, the international supply chain disruption for the transportation of key components used in the in-wheel motors such as semiconductors impacted the global in-wheel motor market. Moreover, the imposed lockdown measures across the world affected the automobile industry for the sales of new vehicles, the production as well as transportation of raw materials such as steel that are required in manufacturing of automotive parts got delayed due to the COVID-19, negatively impacting the growth of the turbo charger market.

Cumulative COVID-19 Impact on In-Wheel Motor Market. Get in Touch with our Expert Analyst@ https://www.researchdive.com/connect-to-analyst/3331

Key Players in the Global In-wheel Motor Market

Some of the leading global in-wheel motor market players are

  1. NTN Corporation
  2. Protean Electric
  3. Printed Motor Works
  4. Ziehl-Abegg SE
  5. Elaphe Propulsion Technologies Ltd
  6. Schaeffler Technologies AG & Co. KG
  7. NSK LTD.
  8. GEM Motors d.o.o.
  9. Lordstown Motors Corporation
  10. Tesla, Inc.

Along with the company profiles of the key players in the market, the report includes the Porter’s five forces model that gives deep insights into the competitive environment of the market.

Labels:

Comments

Post a Comment

Popular posts from this blog

Development: Aerospace 3D Printing Market Strategy Planning by Top Manufacturers

  Aerospace 3D Printing Market Analysis 2026: According to a study of the Research Dive,  aerospace 3D printing market  forecast shall cross  $5,933.4 million by 2026 , growing at a  CAGR of 26.8%  during forecast period. Aerospace 3D printing is primarily used to increase the efficiency of A&D supply chain, reduction of storage costs of inventory and waste production materials. Furthermore, the Aerospace 3D printing industry is focusing more on creating parts of aircraft that are lighter and stronger than parts made by using traditional manufacturing. Astonishing advantages of 3D printings in the supply chain of the aerospace and defense industry are projected to surge in the global market. In addition, the financial support provided by the government and non-government organizations across the globe is also driving the 3D printing in aerospace industry. For instance,   National Aerospace Technology Exploitation Programme grants £140,000 funds for...
Post a Comment
Read more

What is the current and future scenario of Oxygen Cylinder And Concentrator?

  According to a study,  Oxygen Cylinder and Concentrator Market  by Research Dive, the market is expected to reach $5,052.1 million by 2026, registering a CAGR of 8.7% from 2019-2026. Growing utilization from different applications and increasing focus on consumption are some of the oxygen cylinder and concentrator market drivers. The oxygen cylinder and concentrator market is primarily dominated by growing utilization from different applications, for instance, healthcare, pharmaceutical & biotechnology and manufacturing industries. According to American Academy of Allergy, Asthma & Immunology (AAAAI), about 320 million people worldwide are diagnosed with Asthma, of which about 255000 are suffering from the disease. However, it is estimated that by the end of 2026, the number of asthma patients would continue to grow by more than 102 million. This factors further enhance the market in healthcare and medical segment. Additionally, rising demands for adventure spor...
Post a Comment
Read more

Contactless Payment Market size share growth analysis market demand

  Contactless payment, also called as a tap-and-go system is a secure mode where the transactions are done using technologies such as NFC (near field communication), RFID (radio frequency identification), infrared, and bluetooth. Contactless payment is hassle-free and convenient for customers as it takes only one-tenth of the time taken by the old-style electronic transaction.Contactless payment is becoming popular owing to its benefits such as secure and fast payments without any need for cash or identifying details. Initially, these type of payments or cards were used for the purpose oftravelling tickets only. But today, this technology has evolved and is helping customers to make payments for almost anything. However, the permissible amount for a contactless payment varies by country and by the bank. Access to PDF Sample Report Here! @  https://www.researchdive.com/download-sample/181 Recent Developments in the Contactless Payment Industry As per a Research Dive blog, ...
2 comments
Read more