The global In Wheel Motor market size was estimated at USD 1.4 billion in 2023 and is projected to reach USD 8.7 billion in 2030 at a CAGR of 30% during the forecast period 2024-2030.
The global In-Wheel Motor Market is experiencing significant growth driven by the rising demand for enhanced electric vehicle (EV) performance, increased driving range, and reliability. In-wheel motors, which are electric motors mounted directly on the wheels, offer several advantages that make them an attractive choice for EV manufacturers. By directly powering the wheels, these motors reduce the distance power needs to travel, increasing efficiency and improving the driving experience. Moreover, integrating power electronics into the system simplifies the vehicle's design, reducing the number of parts, complexity, and costs associated with production. A key driver for the market is the capability of in-wheel motors to enhance vehicle performance to levels comparable to traditional Internal Combustion Engine (ICE) vehicles. This performance parity is crucial for the broader adoption of EVs as consumers expect similar or superior driving experiences compared to conventional vehicles. Additionally, in-wheel motors can be paired with regenerative braking systems, which capture energy during braking and store it in the vehicle's battery. This feature not only boosts vehicle performance but also extends the distance EVs can travel on a single charge. The growth of the in-wheel motor market is closely tied to the expansion of the electric vehicle market. Countries with supportive government policies, incentives, and infrastructure investments, such as Japan, China, Germany, France, the Netherlands, Norway, the UK, and the US, account for more than 80% of global EV sales. The favourable regulatory environment in these countries significantly contributes to the adoption of advanced technologies like in-wheel motors. However, the market faces challenges, including the high cost of in-wheel motors and the increased unsprung weight added to the wheels, which can affect vehicle dynamics and handling. Despite these challenges, ongoing research and development efforts are expected to address these issues, leading to more cost-effective and efficient solutions.
The COVID-19 pandemic initially disrupted the in-wheel motor market, causing production delays, inventory build-up, and reduced consumer demand due to movement restrictions and economic uncertainties. However, as restrictions eased and economic activities resumed, the EV market rebounded quickly, underscoring the resilience and growing consumer interest in electric vehicles. Innovation in the field of in-wheel motors is driven by the need to enhance EV efficiency and performance. For instance, axial motors, which are small, lightweight, and powerful, are gaining popularity. These motors offer better power density and efficiency compared to radial motors and are well-suited for low-speed, high-torque applications in EVs. The ability of in-wheel motors to facilitate torque vectoring—applying different torques to different wheels—further improves vehicle handling and stability. One of the main advantages of in-wheel motors is the flexibility they provide in vehicle design. By freeing up space on the vehicle chassis, manufacturers can add more components, such as additional batteries or range extenders, without compromising passenger or luggage space. This adaptability is particularly beneficial for retrofits or new vehicle designs, giving in-wheel motors a competitive edge over traditional electric powertrains. The market for in-wheel motors is also being shaped by the growing interest in renewable energy sources for powering EVs. Solar-powered charging stations are becoming more popular due to the decreasing cost and ease of installation of solar panels. These stations can be installed in various locations, including residential buildings, commercial complexes, and public spaces, providing convenient and sustainable charging options for EV owners. the global in-wheel motor market is poised for substantial growth driven by the increasing adoption of electric vehicles, advancements in motor technology, and the push for sustainable transportation solutions. While challenges remain, ongoing innovations and supportive policies are likely to propel the market forward, making in-wheel motors a key component of the future automotive landscape.
In the design and development of in-wheel motors, a meticulous process ensures they meet customer requirements, focusing on dimensions, technology, working conditions, battery capacity, cooling type, vehicle type, and applications. The initial design phase determines the layout, components, material type, size, and shape. A prototype is then developed and rigorously tested. High-quality raw materials like silicon steel, copper, and aluminium are crucial for longevity and efficiency. Components such as rotors, stators, and protective covers are assembled according to finalized designs. Quality checks follow assembly, ensuring compliance with performance standards. The finished products are then distributed through various channels to individual buyers, fleet owners, logistics providers, and government organizations.
The Delvens expert opinion on the in-wheel motor market highlights the importance of the detailed design and development stages, which are crucial for delivering high-performance, reliable products. The selection of high-quality raw materials and precise assembly ensures the motors' efficiency and lifespan. The market's primary end users rely heavily on these factors, along with working conditions, specifications, and cost, to make informed purchasing decisions. This comprehensive approach to in-wheel motor production underscores the sector's commitment to advancing electric vehicle technology and meeting diverse customer needs.
Asia pacific to Dominate the Market
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Report Feature |
Descriptions |
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Growth Rate |
CAGR of 30% during the forecasting period, 2024-2030 |
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Historical Data |
2020-2022 |
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Forecast Years |
2024-2030 |
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Base Year |
2023 |
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Units Considered |
Revenue in USD billion and CAGR from 2024 to 2030 |
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Report Segmentation |
Propulsion, Vehicle Type, Motor, Cooling, Power Output, Vehicle class, Motor weight. |
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Report Attribute |
Market Revenue Sizing (Global, Regional and Country Level) Company Share Analysis, Market Dynamics, Company Profiling |
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Regional Level Scope |
North America, Europe, Asia-Pacific, South America, and Middle East, and Africa |
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Country Level Scope |
U.S., Japan, Germany, U.K., China, India, Brazil, UAE, and South Africa (50+ Countries Across the Globe) |
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Companies Profiled |
Nevs (Protean Electric), Printed Motor Works, Ziehl-Abegg, Elaphe, Schaeffler, Nsk Ltd., Ecomove, Tajima Ev, Yasa, Ntn, E-Traction, Tm4, Gemmotors, General Motors, Tesla, Ford Motor Company, Volkswagen, Bmw, Daimler, Volvo, Mitsubishi Motors, Toyota, Honda, Hyundai, Nissan. |
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Available Customization |
In addition to the market data for the In Wheel Motor Market, Delvens offers client-centric reports customized according to the company’s specific demand and requirements. |
The In Wheel Motor Market is segmented into various segments such as Propulsion, Vehicle type, Motor, Cooling, Power Output, Vehicle class, Motor weight, and Region:
Based on Propulsion
Based on Cooling
Based on the Power Output
Based on region
The prominent players in the In Wheel Motor market are
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