BEV (Battery Electric Vehicles) to Dominate the Propulsion Segment in the Global In-wheel motor Market
The In-wheel motor for electric vehicles battery is projected to be the most prominent propulsion segment in the global In-wheel motor market, growing at a significant CAGR of 29.5% during the forecast period. This rising demand for electric mobility among consumers coupled with rising awareness for gasoline and diesel emissions has led in-wheel motor market towards significant growth. The factor that is driving the demand for In-wheel motor is reducing motor weight which controls four wheel centrally and increasing provisions for spaces in the electric vehicles. The use of in wheel motor application is growing at a relatively high pace as compared with other motors in the electric mobility industry. It is projected that the market size for BEV (Battery Electric vehicle) propulsion segment of In-wheel motor will create incremental opportunity of 2,477.5 Mn by 2027 in the global In-wheel motor market.
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In-wheel motor with between 60-90 KW Output Power are estimated to be the Most Lucrative Market in the In-wheel motor
The demand for In-wheel motor with maximum 60-90 KW output power is estimated to grow at a significant rate and is projected to reach more than US$ 737.4 Mn by 2027 end. The In-wheel motor with above 90 KW output power is growing at a relatively slower pace as compared to other In-wheel motor. The slow growth in the above 90 KW output power In-wheel motor in the market is attributed to high cost structure and its heavy weight as compared to other motors in the output power segment for in-wheel motor market. Furthermore, the In-wheel motor up to 60 KW output power, which has large scale of applications in various types of electric vehicles. Therefore, it holds more than 72.3% share in terms of value in 2018.
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Radial motor in in-wheel motor segment are estimated to have maximum incremental opportunity during the forecast period
With increasing penetration of electric vehicles across the world demand for rising autonomous technology is increasing. The radial in-wheel motors are projected to grow at a significant CAGR of 31.1% during the forecast period. The axial in-wheel motor is growing at a relatively slower pace as compared to radial motors. The axial motor has large market share in the global market creating an incremental opportunity of US$ 2245.8 Mn by 2027 end.
APEJ (Asia Pacific Excluding Japan): Market Leader in the In-wheel motor
The In-wheel motor market has been evaluated across primary regions such as North America, Latin America, Europe, Japan, Asia Pacific Excluding Japan (APEJ) and Middle East and Africa (MEA). Among these, APEJ’s in-wheel motor market is expected to hold favorable value share and growth in terms of CAGR over the forecast period. In terms of value, the APEJ market is anticipated to hold a prominent share of the market by 2027 followed by North America. The market for In-wheel motor is estimated to grow at a significant CAGR of 30.0% and will represent a total incremental opportunity of over US$ 3198.1 Mn in terms of value in global in-wheel motor market during the forecast period.
The competitive landscape section of the In-wheel motor market delivers the most insightful information regarding the key market players in global In-wheel motor market, their relative global position and business strategies. The market for the In-wheel motor is estimated to grow over the forecast period as the contenders in the global market are rising and competition with the existing players is estimated to grow in the next nine years.
The manufacturers in In-wheel motor market to expand with strategic developments such as product launches, product innovation, expansion, collaborations and acquisitions in the In-wheel motor market. Key players operating in the global market for In-wheel motor, include Protean Electric (US), Elaphe (Slovenia), ZIEHL-ABEGG (Germany), Printed Motor Works (UK), NTN (Japan), and others.
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About the Report
Fact.MR published an exclusive forecast report for the In-wheel motor market between 2018 and 2027. The foremost objective of this report on In-wheel motor market is to pitch spearhead insights on market scenario, demand generators and technological advancements in In-wheel motor market. Also, the study on In-wheel motor market addresses key dynamics are expected to diversify the sales and future prominence of In-wheel motor market.
The report on In-wheel motor market begins with an executive overview in which a product definition is provided. The report further proceeds with taxonomy of In-wheel motor market elaborate on the key segments. Also, the report outlines visionary insights on dynamics of In-wheel motor market including drivers, restraints, opportunities and trends and pricing analysis along with the key buying factors for In-wheel motor. Supply chain analysis and pricing analysis of In-wheel motor market along with the difference between coordinate measuring machine and In-wheel motor have also been included in the report to help the readers clearly understand the product framework map in In-wheel motor market.
Fact.MR offers a 9-year forecast for the In-wheel motor market between 2018 and 2027. Regarding value, the market is predicted to witness a CAGR of 30.04% during the forecast period (2018–2027). The primary objective of the report is to offer insights on the progressions in the global In-wheel motor market. The study caters market dynamics that are assumed to influence the current environment and future status of the In-wheel motor market over the forecast period. The primary objective of this report is to offer updates on trends, drivers, restraints, value forecasts and opportunities for manufacturers working in the In-wheel motor market. A section of the report discusses how the overall competition in the market is steadily increasing. It examines various factors that are shaping internal as well as external competition in the market. The in-wheel motor market is expected to grow at a stable pace shortly. Moreover, positive outlook of the automobile industry and steady growth in electric vehicles across developing economies are projected to build robust growth opportunities in the in-wheel motor market.
The report caters detailed market share analysis of the In-wheel motor market by prominent manufacturers. A section of the report highlights the overall country-wise in-wheel motor market. It offers a market outlook for 2018–2027 and sets the forecast within the context of the report. The report emits light on critical developments and activities executed by the prominent manufacturers operating in the in-wheel motor market.
Key Segments Covered in In-wheel motor market Report:
On the basis of propulsion, the In-wheel motor market can be segmented into:
On the basis of motor type, the in-wheel motor market can be segmented into:
On the basis of cooling, the In-wheel motor market can be segmented into:
On the basis of power output, the in-wheel motor market can be segmented into:
- Up to 60 KW
- 60-90 KW
- Above 90 KW
On the basis of region, the In-wheel motor market can be segmented into:
- North America
- Latin America
- Asia Pacific excluding Japan (APEJ)
- Middle East & Africa (MEA)
A detailed analysis has been provided for every segment, regarding market size (volume and value) analysis for In-wheel motor market.
The report starts with the market overview and provides market definition and analysis of drivers, restraints, opportunities, supply chain analysis and critical trends in the in-wheel motor market. The next section includes global in-wheel motor market analysis, analysis by propulsion, by motor, by cooling, by output power, and by region level analysis. All the above sections evaluate the In-wheel motor market by various factors affecting the market and cover present scenario and prospects. For in-wheel motor market data analysis, the report considers 2017 as the base year, with In-wheel motor market numbers estimated for 2018 and forecast made for 2018–2027.
Another critical feature of the In-wheel motor market report is the analysis of all key segments regarding the absolute dollar. This factor is usually overlooked while forecasting the market. However, perfect dollar opportunity is critical in assessing the level of possibility that a provider can look to achieve, as well as in identifying potential resources, from a sales and delivery perspective in the In-wheel motor market.
Research Methodology of In-wheel motor market
The report titled “In-wheel motor market” focuses on providing information regarding the volume (Units) and value (US$ Mn) of the market from a global perspective. The research on the said market was initiated thorough secondary research on the product, using both top-down and bottom-up approaches, right down to the country and segmental level. Market trends and growth projections were taken into consideration to arrive at the total In-wheel motor market. In addition to the above secondary research, yearly revenue generated by the various product types of the in-wheel motor market was estimated.
Furthermore, the yearly revenue generated from in-wheel motor market manufacturing companies from each product type were obtained from both primary and secondary sources and then benchmarked at the regional level. Fluctuations in annual prices over the forecast period is based on the historic in-wheel motor market trends and expected percentage change in the upcoming years by the investment is done on the patent market and the related industry. Any decline or increase in price in the forthcoming years is kept linear for all the regions.
The in-wheel motor market value, thus, deduced was once again cross verified and validated from the supply side. Fact.MR’s proprietary regression analysis forecast model has been adapted to generate the market estimation for the forecast years and takes into account the effects of macroeconomic factors impacting the overall In-wheel motor market and was further validated by the primary respondents belonging to different levels across the entire value chain of In-wheel motor market, such as manufacturers and independent service providers.
In-wheel motor market Participants
In the final section of the report, a competitive landscape has been included to provide report audiences with a dashboard view. Detailed profiles of in-wheel motor market manufacturers have also been included within the scope of the report to assess their long- and short-term strategies, key offerings and recent developments in the In-wheel motor market. Key players operating in the global market for In-wheel motor market include Protean Electric (US), Elaphe (Slovenia), ZIEHL-ABEGG (Germany), Printed Motor Works (UK), NTN (Japan), and others.
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