In-wheel Motors Market Share

In-wheel Motors Market Share Analysis

Logistics companies are going through big changes because of new technologies and what customers want. This shift to using digital tools is making things work better and allowing companies to cooperate more. This change is expected to be a big reason why the market for in-wheel motors will grow.
In the United States, where moving things from one place to another is a very competitive business, the rise in people buying things online is causing a shake-up in how things are moved around. According to the US Department of Commerce, in 2020, the total sales from online shopping in the US were a huge USD 787.9 billion, which is 32.3% more than the year before. Because more people are buying smaller amounts of things online, companies are changing how they do things. They are setting up smaller centers closer to where people live, called "last-mile" centers, to keep things closer to customers. This is making the need for electric trucks that don't produce pollution go up. For example, in 2020, a company called AB Volvo made a deal with NFI Industries to use electric trucks for moving goods in different conditions. In North America, different ways are used to move goods, like air transport, trains, ships, and trucks. Big companies, both from other countries and within the US, offer special ways to move goods efficiently through each step, including by truck. DHL, a big logistics company, uses electric vans, and Amazon plans to use electric vans for delivery made by a company called Rivian starting in 2021.
One of the great things about using in-wheel motors is that they send power straight from the motor to the wheel, making things work better by reducing the distance the power has to travel. This is especially important as more and more things need to be moved around, and that's why there is a growing need for in-wheel motors for electric trucks doing these jobs. So, as more things need to be moved around, the need for in-wheel motors is also growing, creating good opportunities for companies in the global in-wheel motor market.