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Driving factors of In-Wheel Motor Market are rising demand and production of vehicles. Increase in demand for commercial vehicles, government stringent emission norms, and improved vehicle performance, replacement of transmission, drive shaft, axles, and differential. Raised driving range, reliability and more power to improve the efficiency will open more opportunity for in-wheel motor market.
High price and rise in unsprung mass can hamper the growth of In-Wheel Motor Market.
In terms of electric Vehicle, Passengers Cars segment shares the largest market during the forecast period. Increase in production of passenger vehicles across the globe, decline in bank interest rate, rapid urbanization and rising safety concern. It has highest application of formed components, improved fuel efficiency, high torque, increased power, and better vehicle handling to both new and existing vehicles. Provision of better vehicle handling to both new and existing vehicles will dominant in market for In-wheel motor market.
In terms of motor, Radial Flux segment is projected to grow at fastest during the forecast period. Future automobiles will need to satisfy stringent emission standards and the best way to do it with exciting technologies is to reduce their weight and necessary to be efficient, most common motor type adopted for in-wheel motors as the rotor can be directly fixed to the wheel and In-wheel motors are almost radial because of integration benefits, durability, and torque density will have greater demand in In-wheel motor market
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Among region, Asia Pacific is expected to grow at the highest CAGR during the forecast period. Emerging economics and geographic position also have influence on favouring of aluminium. Rise in disposal income, rapid changes in regulations to make transportation more advancing on the technology front and ever increasing population of this region will create more opportunity in In-Wheel Motor Market. China is the biggest producer of automobiles in the world. Northern America region is projected to be the second largest In-Wheel Motor Market.
Key players profiled and analyzed in the report
Protean Electric, Elaphe, Ford, ZIEHL-ABEGG, Printed Motor Works, NTN, Toyota, E-TRACTION, Tesla, TM4, ECOmove, NSK, Hyundai, YASA, TAJIMA EV, Schaeffler, GEM motors, Nano-Optonics Energy Inc., The Orbis Ring Drive Wheel, Michelin SA and General Motors.
Scope of the Report Global In Wheel Motor Market:
Global In Wheel Motor Market, by Propulsion
Global In Wheel Motor Market, by Vehicle
Passenger Vehicle (PV)
Commercial Vehicle (CV)
Global In Wheel Motor Market, by Motor
Global In Wheel Motor Market, by Cooling
Global In Wheel Motor Market, by Component
Rotor & Stator
Regenerative Braking System
Global In Wheel Motor Market, by Power Output
Up to 60 KW
Above 90 KW
Global In Wheel Motor Market, by Region
Middle East & Africa
Key Player analysed in Global In Wheel Motor Market
Printed Motor Works
Nano-Optonics Energy Inc.
The Orbis Ring Drive Wheel