In-Wheel Motor Market to Reach $4,395 million by 2026
Transportation News and Press release service

Home > Transportation News
  • Aerospace News
  • Air Services News
  • Airlines News
  • Auto Dealership
  • Auto Manufacturers
  • Auto Parts News
  • Railroad News
  • Shipping News

    Watch Transportation News Video


  • In-Wheel Motor Market to Reach $4,395 million by 2026

     



    (Transportation-News.com, November 09, 2021 ) According to the new market research report "In-Wheel Motor Market by Propulsion (BEV, HEV, PHEV & FCEV), Vehicle Type (PC & CV), Motor (Axial & Radial), Cooling (Air & Liquid), Power Output (Up to 60 kW, 60-90 kW & Above 90 kW), Vehicle Class, Motor Weight, and Region - Global Forecast to 2026", Published by MarketsandMarkets™, Global In-Wheel Motor Market is projected to grow at a CAGR of 40.3% during the forecast period to reach USD 4,395 million by 2026 from an estimated USD 808 million in 2021.

    The major factors behind the growth of the In-Wheel Motor Market are improved vehicle performance, replacement of transmission, drive shaft, axles, and differentials. In-wheel motor helps supply torque to its associated tire and generates more power to improve the efficiency of a vehicle.

    Browse in-depth TOC on “In-Wheel Motor Market”
    162 - Tables
    52 - Figures
    190 – Pages

    Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=192634770

    Electric passenger car segment: Expected to dominate the In-Wheel Motor Market

    The electric passenger car segment is the largest of all segments of the In-Wheel Motor Market and is expected to witness significant growth during the forecast period. Passenger cars are expected to grow at a significant rate in the emerging economies of the Asia Pacific region. The growth of in-wheel motors in passenger cars can be attributed to factors such as improved efficiency, high torque, increased power, and better vehicle handling for new and existing vehicles. This vehicle segment is the most promising market for in-wheel motors as it is the largest in the automotive industry.

    BEVs: Expected to dominate the In-Wheel Motor Market

    Governments prefer BEVs as these are zero-emission vehicles. Various governments around the world support the sales of BEVs with subsidies and tax rebates. Countries such as the US, Canada, the UK, and Germany are focusing heavily on electric vehicles. The BEV segment is the largest and majorly used across all four regions. Asia Pacific accounts for the largest BEV market, with countries such as China, Japan, and South Korea leading BEV sales. Strong government support and favorable policies are the major factors for the fast growth of BEVs in the region along with the fast popularization of EV charging stations. The top 5 selling BEV models in Europe are Renault Zoe, Nissan Leaf, Tesla Model S, BMW i3, and Volkswagen e-Golf. Among these, Tesla Model S, Chevy Volt, BMW i3, and Nissan Leaf are equipped with in-wheel motors.

    Request FREE Sample Report @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=192634770

    Asia Pacific: Largest market for in-wheel motors

    The Asia Pacific region is estimated to be the largest In-Wheel Motor Market in 2026 because of government promotions and schemes that have led to the increase in electric vehicle sales over the years, catering to the demand for in-wheel motors. For instance, NTN, which is a Japan-based company, supplies in-wheel motors to the electric vehicle start-up FSAT (Changchun Fawsn Auto Tech).

    In-wheel motor is majorly found in electric commercial vehicles; therefore, governments of various countries in the Asia Pacific region are focusing on electric commercial vehicles. For example, even in developing countries like India, the government has announced phase 2 of its Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME II) scheme in April 2019 with an outlay of over USD 1.4 billion. In 2021, the scheme got an extension till March 2024 to further facilitate the growth of EV and its infrastructure. Besides, OEMs such as BYD are planning to open manufacturing plants of electric buses and electric trucks to meet the regional demand in different countries of Asia Pacific.

    The major In-Wheel Motor Market players are Protean Electric (US), Elaphe (Slovenia), ZIEHL-ABEGG (Germany), Printed Motor Works (UK), and NTN (Japan).

    MarketsandMarkets™

    Mr. Aashish Mehra

    1-888-600-6441

    newsletter@marketsandmarkets.com

    Source: EmailWire.Com

    Source: EmailWire.com

    Transportation Resources

    For unlimited press release distribution for $99 per month, call (281) 645-4086 or start posting your press releases online at EmailWire.com.
    Copyright 2007 GroupWeb Media LLC
    GroupWeb Media Network

    Aviation-NewsWire | ArtNewsWire | Auction NewsWire | CRM NewsWire | ePhotoNewsWire | Energy Industry | EstateNewsWire | Entertainment-NewsWire.com | Food Beverage News | Glamour NewsWire | Health NewsWire | Hosting NewsWire | i-Auto NewsWire | i-Business News | i-Homeland Security.Com | iMac-NewsWire.Com | i-Press-Release-Service | i-SoftwareNews.com | iT-NewsWire.Com
    | i-TravelNewsWire.Com | MoneyNewsWire.Net | Movie-Stars-News.Com | MSNewsWire.Net | PharmaNewsWire.Com | Publishing-NewsWire.Com | RSSNewsWire.Net | Telecom-NewsWire.Net | Transportation-News.Com | USGovernment-News.Com | WebPosters.Net | Wireless-NewsWire.Com | VoIPNewsWire.Net | XSportsWorld.Net
    EuropeNewswire.net - Newswire and Press Release service of GroupWeb Media LLC