In-wheel Motor Market to Witness Widespread Expansion During 2018 to 2027
This report provides prognosis and analysis of the In-wheel Motor Market. It offers historical data along with forecast data for 2026.
[UKPRwire, Wed Apr 17 2019] In order to dissert the market scenario prevailing across the “In-wheel Motor Market” sector, FactMR has evenly presented a new examination titled “In-wheel Motor Market to Witness Widespread Expansion During 2018 to 2027 | Key Players are Elaphe (Slovenia), ZIEHL-ABEGG (Germany), Printed Motor Works, etc.”, to its extensive online repository. With all vital market facets enclosed into this single assessment, readers can learn about different market drivers, opportunities and trends which are likely to influence the overall market space for the In-wheel Motor Market in the coming years. In addition, factors such as market size, Y-o-Y growth and revenue share are investigated so as to make this research highly authentic and reliable.
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The In-wheel motor for battery electric vehicles 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.
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.
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.
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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.
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.
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