In-wheel motors market analysis report
In-wheel Motors Market Research Report: Information by Motors Type (Inner, Outer), Power Output (Up to 50 KW, 50-90 KW, Above 90 KW), Vehicle Type (Passenger Cars, LCV, HCV), Cooling Type (Air Cooling, Liquid Cooling) and Region - Global Forecast till 2023
In-wheel motors help in increasing the overall efficiency of the vehicle by approx. 20% and reducing the overall propulsion system price which is expected to drive the global in-wheel motors market. Furthermore, in-wheel motors are efficient. In-wheel Motors Market by Motors Type, Power Output, Vehicle Type, Cooling Type and Regional Forecast till 2023.
In-wheel Motors Market Highlight:
In-wheel motors, an Electric Vehicle (EV) system part, runs on electrical energy and are installed in the wheels of a vehicle. As compared to conventional vehicles, components such as driving shaft and differential, along with other central drive unit systems are eliminated. In-wheel motors helps electric vehicles in offering better turning capabilities and provides more space for cargo, fuel cells, and batteries in the vehicle. The reduced energy loss resulted from vehicle's component eliminations help in-wheel motors to consume less electricity and offer larger driving range per charge.
Moreover, the driving force is directly transmitted to the driving wheels due to ability of in-wheel motors to work independently with no driving shaft, thus enhancing the control of the vehicle. Superior power and control is witnessed by vehicles equipped with in-wheel motors. Factors such as growing electric vehicle production, increasing penetration of in-wheels in EVs, stringent emission regulations, increasing environment awareness, and growing popularity of energy-efficient products to drive the global in-wheel motors market.
The prominent players in the global In-wheel Motors Market include Schaeffler AG (Germany), Nissan Motors Corporation (Japan), Tesla (US), e-Traction B.V. (Netherlands), Printed Motors Works (UK), ZIEHL-ABEGG (Germany), Elaphe Ltd (Slovenia), NTN Corporation (Japan), Protean Electric (US), ECOmove GmbH (Germany), among others.
In-wheel Motors Market Segmentation:
The global In-wheel Motors Market is segmented on the basis of motor type, power output, vehicle type, cooling type, and region.
On the basis of motor type, the market has been segmented into inner rotor type and outer rotor type.
On the basis of power output, the market has been segmented into Up to 50 KW, 50-90 KW, and Above 90 KW.
On the basis of vehicle type, the market has been segmented into passenger cars, light commercial vehicles, and heavy commercial vehicles.
Regional Analysis:
Geographically, the global In-wheel motors market has been segmented into four major regions namely North America, Europe, Asia-Pacific, and the Rest of the World. The Europe region is estimated to hold the prominent market share during the forecast period owing to stringent emission norms & regulations, and investments by prominent vehicle OEMs to cater the demand for fuel-efficient and light weight vehicles in the region. Furthermore, Asia Pacific is expected to register substantial growth in the in-wheel motors market with the increasing sales of electric vehicles in the region supported by government schemes and incentives.
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