Global In-wheel Motors Market is expected to witness exponential growth during the forecast period
Market Research Future published a Half Cooked Research Report Global In-wheel Motors Market that contains the information from 2018 to 2023. The Global In-wheel Motors Market is expected to progress with the CAGR of ~20% from 2018 to 2023.
Taste the market data and market information presented through more than 100 market data tables and figures spread in 88 numbers of pages of the project report. Avail the in-depth table of content & market synopsis on “Global In-wheel Motors Market Information from 2018 to 2023″
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Developments in the electric vehicle industry are going up consistently. The rising demand from end users for vehicles offering same reliability, range, performance, and size as compared to their current or conventional vehicle is fueling the demand for in-wheel motors. Furthermore, in-wheel motors technology offers solution such as providing power equivalent or same as conventional vehicles or ICE alternatives that does not invade cargo & passenger space, and chassis.
Surge in R&D activities in the motor area is witnessed owing to rising interest in new traction motors to meet requirements such as superlative reliability and power to weight ratio. Furthermore, compact, disc-shaped, energy-efficient, cost-effective, and high torque are the common requirements of the vehicle OEM for the in-wheel motors equipped.
In-wheel motors get battered when the vehicle travels across rough roads and pelted by sand, water, gravel, and other detritus which could pose a problem and may lead to lack of durability. Furthermore, with growing preference for centralized motors by OEMs, by-wire technologies are required for implementing in-wheel motors on all the wheels, thus problems with electric corner modules.
The global In-wheel Motors Market is estimated to witness ~20% CAGR during the period from 2018 to 2023.
In-wheel Market Segmentation:
The global In-wheel Motors Market is segmented based on motors type, power output, vehicle type, cooling type, and region. Based on motors type, the market has been segmented into inner rotor type and outer rotor type. Based on power output, the market has been segmented into Up to 50 KW, 50-90 KW, and Above 90 KW. Based on vehicle type, the market has been segmented into passenger cars, light commercial vehicles, and heavy commercial vehicles. Based on cooling type, the market has been segmented into air cooling and liquid cooling.
The segmentation based on motor type, the inner rotor type segment is projected to be dominant during the study period. This growth is attributed relatively high durability, torque density, and integration benefits. The inner rotor type with longer air gap diameter helps in generating significant torque at almost all accelerations.
On the basis of power output, the 50-90 KW segment is expected to grow at fastest rate during the review period owing to rising demand for electric vehicles with efficient performance and effective costing aligned with considerable power output.
On the basis of vehicle type, the passenger cars segment is projected to hold the larger share in the In-wheel Motors Market from 2018 to 2023. This growth is attributed due to relatively high penetration of in-wheel motors in electric passenger cars than commercial vehicles. However, potential of in-wheel motors is significant in commercial vehicles during the forecast period.
In the segmentation based on cooling type, the liquid cooling segment is projected to witness faster growth during the review period owing to rising penetration of in-wheel motors in powerful sedans and SUVs in Europe and Asia Pacific market.
This research report provides insights into various levels of analysis, such as industry analysis and market share analysis for the leading industry competitors, along with their profiles. It also helps in studying the target segments by providing views on the emerging & high-growth segments. The market data comprises the necessary assessment of the competitive scenarios and strategies in the global In-wheel Motors Market, including high-growth regions and/or countries, and political and economic environments. The project report further provides both – historical market values and pricing & cost analysis.