In-Wheel Motor Market Size, Share, 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- Trends, Analysis and Forecast till 2034

In-wheel motor market size was valued at USD 5.9 Billion in 2024 and is expected to reach USD 10.6 Billion by 2034 growing at a CAGR of 6.6%.

In-wheel motors, also called hub motors, are electric motors that are built directly into the wheel hubs of a vehicle. This design eliminates the necessity of conventional power transmission parts such as the driveshaft and differential, simplifying the drivetrain system. Every wheel has its own motor, enabling precise control of power and torque distribution, improving the vehicle's dynamics and handling. This function is especially advantageous for torque vectoring, in which power is adapted to individual wheels according to driving conditions, enhancing stability and traction.
One key benefit of in-wheel motors is their high level of efficiency. By powering the wheels directly, energy losses usually linked with transferring power from a central motor are lowered. This configuration also conserves space in the vehicle, allowing for more versatile designs and possibly expanding interior space. The more basic mechanical structure, having less components that move, may result in decreased maintenance requirements, increasing the attractiveness of in-wheel motors for electric vehicles (EVs).

Nevertheless, there are difficulties that come with the technology. Adding motors to the wheels can increase the unsprung weight, potentially impacting the vehicle's ride quality and handling. The motors are subject to tough environmental conditions, so durability is a crucial issue. Moreover, the increased costs associated with the advanced technology and materials needed for in-wheel motors can result in higher prices for vehicles utilizing this technology. Despite the challenges, in-wheel motors are becoming more popular in electric vehicles, particularly in high-performance models, as well as in autonomous vehicles and specialized uses such as electric bicycles and scooters.

Key Drivers of Target Market:

Growing Demand for Electric Vehicles:

• The growing use of electric vehicles is increasing as the world focuses more on cleaner energy and lower carbon emissions. In electric vehicles, in-wheel motors are well-suited because of their effectiveness and small size, making them an important part of the expanding electric vehicle industry.

Enhanced Vehicle Performance:

• The increased production costs are due to the complex materials and precision engineering needed for in-wheel motors. This could lead to an increase in the price of vehicles with in-wheel motors, possibly reducing their attractiveness to certain market segments focused on affordability.

Restrains:

High Cost:

• The expensive research, development, and production costs for In-wheel motor are among the significant constraints to the sector's growth. Most of the time, these may require complicated fermentation processes, which require certain growth conditions by microorganisms, affecting a setup to be quite expensive. Besides, downstream processing and purification steps, in some cases, may add to the cost. Acceptance will prove to be one of the factors, especially for small and medium enterprises that are unable or unwilling to invest in biocatalysts that cost that much.

The market is segmented based on Propulsion Type, Vehicle Type, Components, Cooking Type, Motor Type and Region.

Propulsion Type Insights:

• Battery Electric Vehicle (BEV): Vehicles that operate solely on power from stored batteries are called Battery Electric Vehicles. In BEVs, in-wheel motors are beneficial because of their efficient and space-saving design, which optimizes battery utilization and vehicle interior.
• Fuel Cell Electric Vehicle (FCEV): These vehicles create electricity by combining hydrogen and oxygen in a chemical process, producing only water as a waste product. In FCEVs, in-wheel motors can improve power distribution efficiency and boost the vehicle's environmental advantages.
• Hybrid Electric Vehicle (HEV): Vehicles blend a conventional internal combustion engine with an electric drive system. Implementing in-wheel motors in hybrid electric vehicles (HEVs) can enhance fuel efficiency and decrease emissions by allowing for better regulation of the electric drive system.
• Plug-In Hybrid Electric Vehicle (PHEV):  PHEVs utilize both an internal combustion engine and electric motor, but can be recharged through an external power supply. In-wheel motors provide the same advantages in PHEVs as they do in HEVs, but also offer an increased electric-only range.

Vehicle Type Insights:

• Passenger Cars: The use of in-wheel motors is growing in passenger cars, especially in electric and high-performance models. They provide advantages such as enhanced maneuverability, expanded interior room, and enhanced energy efficiency.
• Commercial Cars: In the case of commercial vehicles, in-wheel motors offer benefits such as improved load distribution, energy efficiency, and the capability to handle various driving conditions, which are essential for fleet operations and logistics.

Components Insights:

• Suspension: Inclusion of in-wheel motors has an impact on the suspension system as they directly increase the weight on the wheels. The suspension needs to be created or adjusted to handle this extra weight without sacrificing the comfort of the ride
• Rotor and Stator: Essential parts of the in-wheel motor that produce electromagnetic forces to move the wheel. These components' design and material quality have a direct effect on the motor's performance and efficiency.
• Wheel Bearings: Wheel bearings in in-wheel motors must be strong enough to withstand the increased weight and torque. They are essential for maintaining smooth wheel rotation and ensuring long-term reliability.
• Regenerative Braking System: Frequently, in-wheel motors come with regenerative braking, which captures energy while braking and directs it back into the vehicle's battery. This part is crucial for improving overall energy efficiency.

Cooling Type Insights

• Air: Utilizing airflow to dissipate heat created during operation, air cooling is a more budget-friendly and uncomplicated cooling technique for in-wheel motors. It is usually utilized in less intensive scenarios with lower heat production.
• Liquid: Liquid cooling is more efficient in heat management, especially in high-performance or heavy-duty scenarios. The process includes flowing a coolant through the engine to soak up and release heat, making it adequate for harsher environments.

Motor Type Insights:

• Axial Flux: Axial flux motors are recognized for their small size and strong power output. They produce magnetic flux in the direction of the rotation axis, which makes them ideal for scenarios with restricted space and a need for high efficiency.
• Radial Flux: Radial flux motors follow a conventional design, where magnetic flux is produced at a right angle to the rotation axis. They are commonly utilized and provide a combination of performance, efficiency, and production expenses

Regional Insights

• North America: North America is one of the leading players in the In-wheel motor market worldwide, owing to the presence of a well-organized ecosystem for innovation and market development. The most important factors in the region are the well-developed , besides high levels of disposable income. Leading companies invest heavily in developing novel enzymes with better functionality and broader applications continuously pushing the boundaries of enzyme technology.
• Asia Pacific: The highest growth in the global specialty enzyme market is witnessed in Asia. Several reasons trigger this growth. The industries in this region are the fastest growing. Second, there is a growth in healthcare spending within the Asia Pacific. Lastly, there is an enhanced demand for processed foods in the region. Other than the above factors, governments of various countries in the region have been enacting policies and initiating funding programs to support and increase in production of motors; this indirectly impacts the In-wheel motor market.
• Europe: The In-wheel motor market is well-matured and developed in Europe, with strong innovation and regulatory emphasis. Europe's leading companies had always excelled in making high-quality, In-wheel motor for all end users. In addition, the sustainable approach of European industries to using green enzymes to produce biofuels and bioremediation will further add to the growth of this market. The In-wheel motor market for pharmaceuticals and enzyme diagnostics market segments is mature and, in many instances, even approaching saturation from established technology. Growth will only be significant from new electric vehicles and the environmental sector.
• Latin America: The Latin American In-wheel motor market is emerging and promises high growth. The company has witnessed reasonable growth from different Vehicle Types for some time now. The moment the economies in the region start on a growing path, disposable income also goes up. This will increase industry and many others, like automation, which heavily require in-wheel motors. On the other hand, there is excellent awareness about health in Latin America, which consequently gives way to increasing demand for various diagnostic tests and treatments, including specialty enzymes.
• Middle East and Africa: MEA is yet another developing market for specialty enzymes, with the expansion being quite stifled due to certain constraints. On the other hand, the capability to produce In-wheel motor is low in the MEA market. The region would heavily depend on imports from the rest of the world. Further, the regulatory frameworks for In-wheel motor may vary substantially between countries in the MEA region.

In-wheel motor market Report Scope:

Segments Covered in the Report:

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2024 to 2034. For the purpose of this study segmented the target market report based on Propulsion Type, Vehicle Type, Components, Cooling Type, Motor Type and Region.

Segmentation:

 By Propulsion Type: 

• Battery Electric Vehicle (BEV)
• Fuel Cell Electric Vehicle (FCEV)
• Hybrid Electric Vehicle (HEV)
• Plug-In Hybrid Electric Vehicle (PHEV)

 By Vehicle Type: 

• Passenger Cars
• Commercial Cars

 By Components:

• Suspension
• Rotor and Stator
• Wheel Bearings
• Regenerative Braking System

 By Cooling Type:

• Air
• Liquid

 By Motor Type Insights:

• Axial Flux
• Radial Flux

By Region:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Russia
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • Israel
  • South Africa
  • Rest of Middle East & Africa

The key players operating the In-wheel motor market include Protean Electric, YASA, Elaphe Ltd., Printed Motor Works, Schaeffler AG, NSK, Ziehl-Abegg, e-Traction B. V., General Motors, and Tesla, Inc.

• Protean Electric *
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies
• YASA
• Elaphe Ltd.
• Printed Motor Works
• Schaeffler AG
• NSK
• Ziehl-Abegg
• e-Traction B. V.
• General Motors
• Tesla, inc

“*” marked represents similar segmentation in other categories in the respective section.