Global In-Wheel Motors Market Report 2021-2025 with
Dublin, November 22, 2021 (GLOBE NEWSWIRE) – The “In-Wheel Motors Market – Global Forecast to 2025” Report was added to ResearchAndMarkets.com to offer.
The global wheel motor market is estimated to grow from $ 808 million in 2021 at a CAGR of 40.3% to $ 4,395 million by 2026.
Government subsidies and tax breaks for electric vehicles, increased range, reliability, and improved vehicle performance are the factors responsible for the growth of the wheel motor market. However, challenges such as the high price and the increase in unsprung masses on the wheels are the major impediments to the growth of the in-wheel motor market.
The Radial Flux Motor segment by motor type is the fastest growing segment of the in-wheel market
The radial flux motor segment is the fastest growing segment in the wheel motor market by motor type. The radial flux motor is the most common type of motor for in-wheel motors because the rotor can be attached directly to the wheel.
In addition, the external rotor construction of radial flux motors is approx. 15% lighter than the internal rotor machine, which generates the same torque due to its larger air gap diameter. In-wheel motors are almost radial due to integration advantages, durability, and torque density.
Asia Pacific is the fastest growing market for wheel motors
Asia-Pacific is the fastest growing market for electric vehicles, followed by North America. North America is a regional hub for many well-known EV manufacturers who are known for delivering high quality, high performance vehicles. OEMs in North America like Tesla and GM are focused on building faster, cleaner, more powerful electric vehicles.
BMW, Nissan, Volkswagen and Daimler are the leading OEMs in the US who have brought electric vehicles to market nationwide, resulting in a huge demand for wheel motors. The top-selling electric vehicles in the U.S. are the Tesla Model S, Chevy Volt, and Nissan Leaf, and they come with in-wheel motors.
Protean Electric (UK), Elaphe (Slovenia), ZIEHL-ABEGG (Germany), Printed Motor Works (UK) and NTN (Japan) are among the leading suppliers in the in-wheel motor market.
- Growing efforts to improve the performance of electric vehicles to fuel the wheel motor market
- Market leader in up to 60 kW segment
- Radial flux motor is expected to hold larger market share
- Bev is expected to dominate the market during the forecast period
- Cars expected as market leader
- Asia Pacific Expected to Hold Largest Share of In-Wheel Motors Market in 2021 (Units)
- Improved dynamics, more simplicity and efficiency of vehicles
- Reduced weight and offers more space
- Increase in Investments & Increase in Mergers and Acquisitions
- Increasing use of electric vehicles worldwide
- Increase in the unsprung weight of the wheels
- Installation on conventional vehicles not possible
- Changes in the regulatory environment worldwide
- Growing opportunities for commercial vehicles and off-highway electric vehicles
- Growing trend towards autonomous technology in vehicles
- High costs
- Complexity in controlling individual wheel speed
- Increase in the number of errors
Porter’s Five Forces Analysis
Analysis of the supply chain
- Manufacturer of in-wheel motors
- Component manufacturer
- In-wheel motor with 360 degree steering
- Modular in-wheel platform with software integration
- Independent wheel torque control
- Electric pick-up trucks with in-wheel engines from Lordstown Motors
- Elaphes L1500 in-wheel motors
- Lexus Lf-30 concept car with in-wheel engine
- Nissan Bladeglider equipped with two in-wheel motors
- Nevs (Protean Electric)
- Printed engine works
- Nsk Ltd.
- Tajima Eva
- Gem engines
Other key players
- General Motors
- Ford Motor Company
- Mitsubishi engines
For more information on this report, see https://www.researchandmarkets.com/r/gnxlv1