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

Collaborative Robot (Cobot) Market Insights Deep Analysis 2022-2030

  With the advancements in technology, robotics is becoming available at a price that suits the pockets of even smaller as well as bigger companies. All thanks to the development of low-cost components, which have paved way for the   upsurge of the collaborative robots or cobots  .Collaborative robots are intended to collaborate with humans at work sites, and hence making automation a trouble-free job for businesses of all sizes. By now, cobots have been seen as a game-changer for a wide variety of applications. W hy cobots over traditional robots? The new robotics technology is outdoing the weighty, daunting robots usually locked in the cages for security reasons. Now, it’s time to make use of cobots in those heavy industrial tasks! These robots are quite affordable, safe, and flexible to deploy. They are programmed to work in collaboration with humans and not under humans—unlike traditional robots. With these advanced-automated robots, you can forget the cages and make ...
Post a Comment
Read more

Intraoperative Neuromonitoring Market Revenue to Record Stellar Growth Rate

  According to  Intraoperative Neuromonitoring Market   Analysis by Research Dive, the global market forecast will be   $3,413.0 million   by the end of 2026 , at a   4.5% CAGR , growing from   $2,400.0 million in the end of 2018 . Intraoperative Neuromonitoring Market Drivers: Growing aged populace globally, along with increasing occurrence of chronic illnesses, are the major driving aspects for the intraoperative neuromonitoring market growth. Furthermore, intraoperative monitoring is an important process that assists in risk management throughout complex surgeries. This factor is projected to propel the market size in the coming years. Furthermore, rising trend of medical tourism along with growing investments for healthcare infrastructure in developing economies are projected to create significant revenue generating opportunities in the global market. Nevertheless, shortage of trained workforce for the control and maintenance of intraoperative neur...
Post a Comment
Read more

2-ethylhexyl Caprate Market to Incur Meteoric Growth During 2018-2026

Introduction: 2-Ethylhexyl Caprate Market 2-ethylhexyl caprate , also known as 2-ethylhexyl decanoate, is an organic chemical compound with the molecular formula C18H32O2. In the manufacturing of 2-ethylhexyl caprate, ethyl reacts with hexyl in the presence of caproic acid as a catalyst to form 2-ethylhexyl caproic acid, which on further treatment with esterification process forms a mixture of 2-ethylhexyl caprate crude. This mixture of 2-ethylhexyl caprate crude is distilled to obtain pure 2-ethylhexyl caprate. 2-ethylhexyl caprate finds several applications in chemical, pharmaceutical and textile industries as a reagent, catalyst and excipient. Along with this, 2-ethylhexyl caprate is used in the manufacturing of elastomers and coatings. On the basis of safety, 2-ethylhexyl caprate is the least harmful in the available caprate group and has low vapor pressure, which can reduce hazards while handling as compared to other caprates, such as ethylhexyl palmitate and oth...
Post a Comment
Read more