The automotive in-wheel motors market is expected to grow 38.0% year on year in 2022, reaching a value of around US$ 2,127.5 million by the end of 2022. Sales of automotive in-wheel motors were estimated to be worth approximately US$ 1,541.4 million at the end of 2021. By 2032, the automotive in-wheel motors market is anticipated to expand at a 38.0% CAGR, reaching a worth of US$ 53291.81 Million.
Significant Considerations
Better electric vehicle performance that is equivalent to ICE vehicle performance in terms of performance, range, and reliability is driving the demand for automotive in-wheel motors. The system includes power electronics to help reduce the price, complexity, and quantity of the vehicle’s parts. The technique can also be used in conjunction with regenerative braking to increase efficiency and increase the distance travelled on a single charge.
Element of Limitation
The unsprung weight of a vehicle increases as a result of in-wheel motor technology, which might reduce the enjoyment of the ride. If the brakes are mounted on the wheel, it will be put under extra strain because it will immediately be under unsprung weight. Because of the increase in unsprung weight, there may be less demand for in-wheel motor technology in the automobile sector.
Request a Sample of this Report:
https://www.futuremarketinsights.com/reports/sample/rep-gb-7677
APAC Automotive In-wheel Motors Market
The APAC automotive in-wheel motors market is predicted to dominate the global market in terms of valuation and to grow over the forecast period. Radial flux automobile in-wheel motors are expected to be widely used in high-performance vehicles due to their ease of fabrication.
Key Takeaways:
- The APAC automotive in-wheel motors market is expected to grow at a CAGR of 41.6% by value.
- Germany is expected to grow at a CAGR of 42.9% in the global automotive in-wheel motors market due to an increase in the number of vehicles in the country during the forecast period.
- The United States is expected to account for more than 88% of the North American automotive in-wheel motors market in 2022.
- China is expected to control nearly 93% of the APAC in-wheel motor market by 2022.
- The liquid cooled segment of the market for automotive in-wheel motors is predicted to grow at a CAGR of 41.2%.
- Among technology segments, the BEV (battery electric vehicle) category is projected to expand at a 39.5% CAGR.
- The passenger car segment is estimated to hold for 88% of the value share in the automotive in-wheel motors market.
Start-up Ecosystem:
- NTN, a Japanese bearing manufacturer, is set to supply in-wheel motor technology to Chinese electric vehicle startup Changchun Fawsn Auto Tech, or FSAT, introducing the new drive system to the world’s largest electric market.
- REE, a Tel Aviv-based Israeli startup that uses in-wheel motors, has a $580 million valuation. Meitav Dash, an Israeli investment firm, put in 70 million shekels. The company has collaborations with Mitsubishi of Japan, Honda’s Musashi Seimitsu, American Axle & Manufacturing, and Linamar, Canada’s second-largest auto parts manufacturer.
Request for Customization:
https://www.futuremarketinsights.com/customization-available/rep-gb-7677
Competitive Landscape:
Protean Electric, Elaphe, ZIEHL-ABEGG, Printed Motor Works, and NTN are among the market for automotive in-wheel motors ecosystem’s players. Tesla, Nissan Motor Corporation, BYD, BMW, and Volkswagen are also part of the ecosystem.
The market for automotive in-wheel motors is expected to grow over the forecast period, as contenders in the global automotive in-wheel motors market emerge and competition with existing players intensifies in the coming years.
Key Segments
By Product Type:
- Axial Flux Motor
- Radial Flux Motor
By Technology:
- BEV
- HEV
- PHEV
By Vehicle Type:
- Passenger Car
- Commercial Vehicle
By Cooling:
- Air Cooled
- Liquid Cooled
By Region:
- North America
- Latin America
- Europe
- Japan
- APAC
- ME
Speak to our Research Expert:
https://www.futuremarketinsights.com/ask-question/rep-gb-7677
About Us
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
Contact:
Future Market Insights Inc.
Christiana Corporate,
200 Continental Drive,
Suite 401, Newark,
Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Browse latest Market Reports: https://www.futuremarketinsights.com/reports
LinkedIn | Twitter | Blogs
