In-Wheel Motor Market worth US$ 3780.4 Million 2029 with a CAGR of 31.1 %

In-wheel motor market is projected to grow from US$ 329.6 Million in 2020 to US$ 3780.4 Million by 2029. in-wheel motor market is driven by increasing production of electric vehicles as in-wheel motors are used in all electric vehicles, such as passenger cars, light commercial vehicles and heavy commercial vehicles.

The report “In- wheel Motor Market, By Propulsion Type (Battery Electric Vehicle (BEV), Fuel Cell Electric Vehicle (FCEV), Hybrid Electric Vehicle (HEV), and Plug-In Hybrid Electric Vehicle (PHEV)), By Vehicle Type (Passenger Cars (PC), and Commercial Vehicles (CV)), By Components (Suspension, Rotor and Stator, Wheel Bearings, and Regenerative Braking System), By Cooling Type (Air, and Liquid), By Motor Type (Axial Flux and Radial Flux) and Region - Global Forecast to 2029”

Key Highlights:

• In 2018, e- Traction B. V. launched new in-wheel motor system, TheMotion 2.0. TheMotion 2.0 has more power, higher torque, and is more compact and efficient than e-Traction’s previous model, resulting in a total cost of ownership that is lower than ever.

Key Market Insights from the report:          

The in-wheel motor market accounted for US$ 329.6 Million in 2020 and is projected to register a moderate CAGR of 31.1% over the forecast period. The market report has been segmented on the basis of propulsion type, vehicle type, components, cooling type, motor type, and region.

• By propulsion type, the in-wheel motor market is segmented into battery electric vehicle, fuel cell electric vehicle, hybrid electric vehicle, and plug-in hybrid electric vehicle.
• By vehicle type, the in-wheel motor market is segmented into passenger cars and commercial vehicles.
• By components, the in-wheel motor market is segmented into suspension, rotor and stator, wheel bearings, and regenerative braking system.
• By cooling type, the in-wheel motor market is segmented into air and liquid.
• By motor type, the in-wheel motor market is segmented into axial flux and radial flux.
• By region, Asia Pacific estimated to account major share in in-wheel motor market over forecast period. China of Asia Pacific region is the largest market as Chinese government provides huge subsidies for the electrification of vehicles.

Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on “In- Wheel Motor Market”, By Propulsion Type (Battery Electric Vehicle (BEV), Fuel Cell Electric Vehicle (FCEV), Hybrid Electric Vehicle (HEV), and Plug-In Hybrid Electric Vehicle (PHEV)), By Vehicle Type (Passenger Cars (PC), and Commercial Vehicles (CV)), By Components (Suspension, Rotor and Stator, Wheel Bearings, and Regenerative Braking System), By Cooling Type (Air, and Liquid), By Motor Type (Axial Flux and Radial Flux), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - forecast till 2029

The prominent player operating in the in-wheel motor market includes, Protean Electric, YASA, Elaphe Ltd., Printed Motor Works, Schaeffler AG, NSK, Ziehl-Abegg, e-Traction B. V., General Motors, and Tesla, Inc.

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