Global In-Wheel Hub Motors Market In-Depth Analysis, Business Forecast and Dynamics 2024-2032

In-Wheel Hub Motors Market Size And Forecast

In-Wheel Hub Motors Market size is growing at a faster pace with substantial growth rates over the last few years and is estimated that the market will grow significantly in the forecasted period i.e. 2020 to 2027.

The growing demand for the production of vehicles with in-wheel electric motors drives the market. The Global In-Wheel Hub Motors Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Global In-Wheel Hub Motors Market Definition

The in-wheel hub motors are electric motor installed in the wheels that drives the wheels directly. They are bifurcated in two categories of motors with torque less than 700 Nm and more than 700 Nm. The motor uses the electric energy stored in the battery by converting it into rotary motion. The brushless DC technology is used for operation, which is a next-generation of DC motor technology in which the electronic commutation replaces the mechanical commutation system. This helps to eliminate all the contacts between the stator and rotor providing a longer life for the motor.

The in-wheel hub motors are easy to install, do not need differential and are free from any kind of gears and transmission. This increases efficiency and flexibility coupled with better performance, driving range, reliability, and provides improved vehicle performance a greater solution. They are predominantly used and installed in electric vehicles. The finds application in passenger and commercial vehicles.

Global In-Wheel Hub Motors Market Overview

The continuous rise of technological advancements and increased simplicity and efficiency of the vehicle has escalated the In-Wheel Hub Motors Market. The growing demand for the production of vehicles with in-wheel electric motors drives the market. The electric in-wheel hub motor possesses several advantages over fuel-powered automobiles. Moreover, the growing penetration of electric vehicles globally offers new opportunities in the forecast period. Furthermore, favorable government policies such as stringent regulations to curb the (CO2) emission, and subsidies for electric two-wheeler manufacturers will positively anticipate to boost the global In-Wheel Hub Motors Market.

There are certain restraints and challenges faced which will hinder the overall market growth. The factors such as lack of a skilled workforce and the absence of standards and protocols are limiting the market growth. Also, complexity in controlling individual wheel speeds impedes the overall growth. In addition, less operating speed and complex structure of hub motors inhibit the growth of the In-Wheel Hub Motors Market.

Global In-Wheel Hub Motors Market Segmentation Analysis

The Global In-wheel Hub Motors Market is segmented based on Product, Application, And Geography.

In-Wheel Hub Motors Market, By Product

• Less than 700 Nm• More than 700 Nm

Based on Product, The market is bifurcated into Less than 700 Nm and More than 700 Nm. The less than 700Nm product segment holds the largest market share. The factors can be attributed to the increased speed, extremely compact high-torque in-wheel motor, continuous power coupled with advanced powertrain electronics, and HMI that provides an ideal platform for the next generation of efficient, light-weight, and modular electric vehicle. This factor fuels the less than 700Nm product segment in the In-Wheel Hub Motors Market.

In-Wheel Hub Motors Market, By Application

• Passenger Vehicles• Commercial Vehicles

Based on Application, The market is bifurcated into Passenger Vehicles and Commercial Vehicles. The passenger vehicle segment accounts for the largest market share, especially electric passenger cars. The factors can be attributed to the increased customer mobility, improves fuel efficiency, high torque, increase power, and provide better vehicle handling to both new and existing vehicles. These factors have fostered the acceptance of the passenger vehicle segment.

In-Wheel Hub Motors Market, By Geography

• North America• Europe• Asia Pacific• Rest of the world

On the basis of Geography, The Global In-Wheel Hub Motors Market is classified into North America, Europe, Asia Pacific, and the Rest of the world. Asia-Pacific holds the largest market share. China dominates the market in the APAC region as the Chinese government is providing huge subsidies for the electrification of vehicles. The increase in sales of electric vehicles will lead to an increase in sales of in-wheel hub motors which will boost the market in this region.

Key Players

The “Global In-Wheel Hub Motors Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are Protean Electric, Ziehl-Abegg, Schaeffler Technologies, ZF Friedrichshafen, Elaphe, Heinzmann GmbH, TM4, Evans Electric, Siemens, Kolektor, Printed Motor Works, NSK, NTN Corporation, GEM Motors, e-Traction, Hyundai Mobis, YASA Limited.The competitive landscape section also includes the above-mentioned players’ key development strategies, market share, and market ranking analysis.

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Reasons to Purchase this Report:

• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post-sales analyst support

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