In-Wheel Motors Market Scope
In-wheel motors are electric motors that are fitted in the wheels of electric vehicles and many are required to provide improved performance by directly powering the wheels of the vehicle. Conventional electric vehicles used a single motor to propel all four wheels of an EV, whereas with the introduction of the in-wheel motor system, impartial motors were installed to the wheels of vehicles and were responsible for personal operations. An in-wheel motor installed around the wheels of a vehicle directly powers the wheel, providing a good accelerator response. Furthermore, the incorporation of in-wheel motors in electric vehicles makes driving more aligned while also increasing the fun and intuitiveness of the driving experience.
|Unit||Value (USD Million)|
|Key Companies Profiled||Elaphe Propulsion Technologies Ltd. (Slovenia), PMW Dynamics (United Kingdom), Nissan Motor Corporation (Japan), Protean Electric (United States), ZIEHL-ABEGG (Germany), NTN (Japan), Schaeffler AG (Germany) and Ecomove GmbH (Germany)|
The market for In-Wheel Motors is highly competitive with several global as well as local players in the market. The global players are trying various strategies such as product innovation and using various marketing strategies to gain a higher market share. Research Analyst at AMA estimates that United States Manufacturers will contribute to the maximum growth of Global In-Wheel Motors market throughout the predicted period.
Elaphe Propulsion Technologies Ltd. (Slovenia), PMW Dynamics (United Kingdom), Nissan Motor Corporation (Japan), Protean Electric (United States), ZIEHL-ABEGG (Germany), NTN (Japan), Schaeffler AG (Germany) and Ecomove GmbH (Germany) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research are e-Traction B.V. (Netherlands), Lordstown Motors (United States) and MW Motors. (Czech Republic).
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
The study have segmented the market of Global In-Wheel Motors market by Type , by Application (Medium, Small and Micro EV) and Region with country level break-up.
On the basis of geography, the market of In-Wheel Motors has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). region held largest market share in the year 2021.
On 31 March 2022, Protean Electric, the world leader of in-wheel motor (IWM) technology for passenger cars, light commercial vehicles and future transport solutions, announces that market adoption of its ProteanDrive solution will be further accelerated under the new partnership between Dongfeng Motor Corporation Technical Center (“DFM Technical Center”) and Protean’s joint venture in China, Wuxi Weifu Electric Drive Technology (“WFDT”).
In-Wheel Motors Market Dynamics:
|Trends Influencing Market|
- Technological Advancement In Manufacturing Of In-Wheel Motors
- High Manufacturing Cost Associated With In-Wheel Motors
- Rise In Unsprung Load In Wheel
- Intense Competition Among Players
- Increase In Penetration Of Electric Vehicles Across The Global
- Rapidly Expansion Of Automotive Industry
Key Target AudienceIn-Wheel Motors Manufacturers, New Entrants and Investors, Venture Capitalists, Government Bodies, Corporate Entities, Government and Private Research Organizations and Others