In-wheel motor market is predicted to reach USD 28076.64 million at a CAGR of 32.31% during the forecast period

Pune, India, Oct 2022, MRFR Press Release/Market Research Future has published a Cooked Research Report on the Global In-wheel motor market.

Global In-wheel motor Market  

The in-wheel motor is a type of an EV drive system. These motors are mounted directly on the wheels to power the wheel by directly supplying the torque to the respective tires. This type of motor reduces the weight and improves the efficiency of the vehicle. These motors also allow torque vectoring—the application of different torques to different wheels that can improve handling.

In-wheel motor

Browse In-depth Details [Table of Content, List of Figures, List of Tables] of In-wheel Motors Market Research Report

Market Synopsis

According to the MRFR analysis, the global in-wheel motor market size is projected to reach USD 28076.64 million by 2030 at a CAGR of 32.31%.

Government initiatives to encourage adoption of electric commercial vehicles and expansion of global electric vehicle manufacturers into emerging markets will spur market growth. The global in-wheel motor market has been segmented based on propulsion type, cooling type, motor type, vehicle type, and power output. The COVID-19 pandemic resulted in the lockdown of manufacturing, commercial, and industrial facilities that delayed the production schedules raising the inventories and financial losses. Additionally, the dependence on automotive sales and production directly impacts the revenue generation of electric vehicles.

In-wheel motor Market Competitive Landscape

in-wheel motor market growth of the vendors is dependent on market conditions, government support, and industrial development. Thus, the vendors should focus on expanding their presence and improving their services. Protean Electric, NTN, NSK, Printed Motor Works, and Elaphe Ltd. are some of the key players operating in the global market. These companies compete in terms of availability, quality, price, and technology and consider expansion and product development, as their key strategies in the global in-wheel motor market. Although the international players dominate the market, regional and local players with small market shares also have a significant presence. The international players may strengthen their presence in the global in-wheel motor market by heavily investing in product development during the forecast period.

Protean Electric, NTN, NSK, Printed Motor Works, Elaphe Ltd., Ziehl-Abegg, e-Traction, DANA TM4, Ecomove, TAJIMA EV, YASA, Schaeffler are the major players in the in-wheel motor market.

Segmentation:

Automotive In-wheel motor Market Based on Propulsion type:

• Battery electric vehicles (BEVs): generally, use chemical energy, which is stored in rechargeable battery packs. The battery-powered electric vehicles use motor controllers and electric controllers instead of using internal combustion engines and get the power from battery packs. As a result, BEVs are energy efficient, produce fewer greenhouse gases, do not create any noise, and pollute less than internal combustion engine vehicles. Over the last few years, battery-operated commercial vehicles have gained momentum globally, especially in the US market. Major electric commercial vehicle manufacturing companies enhance the battery capacity and involve less charging time.


• Plug-in hybrid electric vehicles (PHEVs): mainly use rechargeable batteries and other energy storage devices that can be charged by external electric power. PHEVs start in ‘all electric’ mode, run on electricity, and when the batteries are low in charge, it calls on the internal combustion engine to boost or charge up the battery pack. PHEVs can charge their batteries directly from the grid. As a result, they consume less fuel and reduce associated costs. An increase in customer demand for plug-in hybrid electric vehicles and the government subsidies raise the demand for in-wheel motor market during the forecast period.


• Fuel cell electric vehicles (FCEVs): are powered by hydrogen. A hydrogen fuel cell is similar to a battery that generates electricity from an electrochemical reaction. The hydrogen fuel cell vehicles are classified as zero-emission vehicles, which emit only water and heat. Thus, the hydrogen fuel cell electric vehicles lower pollutant emissions, greenhouse gas emissions, and petroleum consumption. Major electric commercial vehicle manufacturing companies are engaged in vehicle charging by fuel cell, including Daimler AG, General Motors, Nissan, and Reynolds, and build prototype vehicles using fuel cells with or without auxiliary batteries and are fueled using either pure (gaseous or liquid) hydrogen or reformate. The increase in the research & development of fuel cells and increased government subsidies for electric vehicles boost the demand for in-wheel motor market during the forecast period. 

In-wheel motor Market Based on Cooling type:

• Air-cooled: in-wheel motors are preferred as they offer more passenger space and remove any plumbing requirements within the vehicle. Air cooling is better than other methods in terms of cost and cooling uniformity; however, its performance is the lowest among the other conventional cooling methods.


• Liquid cooling: is the most common method among electric vehicles. In this method, the water flows into a jacket installed in the housing and exchanges generated heat. As a result, it achieves better cooling uniformity and less system cost than oil cooling. However, its cooling performance is not as effective as that of oil cooling.

In-wheel motor Market Based on Motor type:

• The axial flux motor is a suitable alternative to the traditional radial flux motor due to its compact structure. This motor is suitable for in-wheel applications so that the transmission gear can be suppressed. Furthermore, as a vehicle’s motors often work in variable-speed conditions, the prediction of vibrations and noise of electric motors over a broad speed range is usually necessary, provided by axial flux motors.


• A radial flux motor has its flux running in and out from the center of the shaft on the radius, thus the name “radial.” Many radial flux motors use a hybrid approach with a permanent magnet and using the design of the rotor and stator to increase the reluctance within the motor. The motor works by exploiting the tendency of the rotor to align with the magnetic pole, which is how it produces torque.

In-wheel motor Market Based on Power Output:

• Up To 60 kW: Batteries with power outputs up to 60 kW are preferred mainly by prominent electric vehicle manufacturers, primarily due to their efficiency and suitability in passenger cars. For example, the latest model of BMW, i.e., the BMW i3, is equipped with a 42-kW power output battery. The Tesla S 60 model comes equipped with a 60-kW power output battery.


• 60–90 kW: output power range for the in-wheel motor is the maximum range used in the motors. Elaphe offers M700 motor, a highly compact high-torque in-wheel motor designed to fit inside a standard 15- or 16-inch rim. It has over 700 Nm of peak torque, 75 kW of peak power, and 50 kW of continuous power, in a wide range of passenger cars. Some of the other companies which provide motors in this power range are Printed Motor Works, NTN Corporation, and Protean Electric.


• Above 90 kW: The power range above 90 kW is witnessing notable growth despite the drawback of heavyweight and high-cost structure. Elaphe provides an L1500 motor having about 110 kW of peak power, which is built for high-power requirements, versatility, and customization and fits perfectly to new mobility solutions, pickup trucks, SUVs, and powerful sedans

In-wheel motor Market Based on Vehicle type:

• Passenger cars: are among the top contributors to the electric vehicles industry. This was mainly attributed to the government initiatives to enhance the adoption of electric vehicles among the large consumer base while shifting from traditional ICE vehicles to carbon-neutral mobility solutions such as electric cars. Additionally, the governments are also strategizing to minimize the crude oil imports that incur high expenditure. Furthermore, the rise in awareness of EVs that provide low-cost mobility compared with their ICE-based vehicles adds to the in-wheel motor market As a result, luxury car manufacturers are investing mainly in R&D efforts to enhance the range of distance covered by EVs while minimizing the overall cost of car ownership.


• Commercial vehicle: segment includes light trucks, heavy trucks, and buses. Light trucks are highly common in the US; hence large electric automakers are becoming more interested in developing trucks with high capacities. The electric light trucks are also called electric pickup trucks that offer high towing values, a strong payload score, and enhanced flexibility compared with their predecessors (ICEs). However, traditional ICE-based heavy-duty trucks consume a lot of fuel compared to the other modes of transportation and contribute to the rise in environmental pollution. Owing to these factors, governments across the globe are initiating to decrease the carbon impact caused due to freight transportation through electrification.

Based on region:

• North America: North America comprises the US, Canada, and Mexico. The most significant factor driving the regional market's growth is the rising demand for electronic gadgets in the automobile sector, significantly contributing to the demand for electric vehicles in North America. Furthermore, increasing the production of advanced electronics and autonomous vehicles is boosting the growth of the in-wheel motor market. Several manufacturing companies in the region are significantly adopting advanced technologies to enhance their business operations. The region has been swift to implement new technology for the industrial sector, provide high-quality products, deliver a good customer experience, and understand the in-wheel motor market Such factors are expected to increase the demand for in-wheel motor market in North America.


• Europe: Europe has seen significant growth towards EV adoptions. The European Union’s new emissions standard—95 grams of carbon dioxide per kilometre for passenger cars—has also boosted EV sales as it stipulates that 100% of the fleet must meet this standard in 2021. In addition, incentive boosts by green recovery funds, more attractive EV model choices from top brands, such as Daimler AG, BMW, and Volkswagen, increased availability, and intense promotion of EVs in the region have also helped spur consumer-side demand. Another boost to the growing electric vehicle market is the commitment from Ford Motor Company to launch an all-electric vehicle line-up by 2030 in the European region.


• Asia-Pacific: The demand for commercial electric vehicles in Asia-Pacific is expected to grow significantly due to the growing demand for electric buses and the initiatives to promote the development of electric vehicles taken by the governments of countries such as China, Japan, and India. Furthermore, the rising demand for the development of charging infrastructure and increasing collaborations between the automotive OEMs in the region results in the market's growth in this region. For instance, in China, in March 2020, BYD (China) signed an agreement with Transcarsell, a heavy-duty transport company, to supply electric trucks equipped with lithium iron phosphate batteries.


• Middle East and Africa: The Middle East plays a vital role in the penetration of electric commercial vehicles in the global market. The UAE government has taken several initiatives to reduce emissions generated from road transport. The deployment of EVs will create an economic change in the Middle East, which will impact the demand for electric commercial vehicles in the future. In the Middle East, the UAE government proposed a development plan for electric vehicles. The government is trying to reduce the consumption of road transport footprints to enhance the demand for green mobility electric vehicles.


• South America: South America has many barriers to the use of electric vehicles, including the limited incentives offered by the governments in the region. However, the expansion and deployment of electric vehicles in the region are anticipated to offer benefits such as improved air quality and public health, which will increase the demand for in-wheel motors in electric vehicles across the region. However, the region is an ever-growing market owing to the growing demand for electric commercial vehicles and the rising developments in the charging infrastructure in the region.