In-Wheel Motor Market

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

Report Code: AT 6559 Oct, 2021, by marketsandmarkets.com

[190 Pages Report] The global In-Wheel Motor Market is driven by increased performance, driving range, reliability, and provision for improved electric vehicle performance similar to Internal Combustion Engine (ICE) vehicles Additionally, it helps to reduce vehicle part count, complexity, and cost by integrating power electronics into the system. The system can also be combined with regenerative braking to enhance performance and increase distance coverage per charge. The global in-wheel motor market in 2020 reached USD 541 million and is projected to grow at a CAGR of 40.3% to reach USD 4,395 million by 2026 from an estimated USD 808 million in 2021. The base year for the study is 2020, and the forecast period is from 2021 to 2026.

In-Wheel Motor Market

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In-wheel motor is an electric motor that is mounted on the wheel to power the wheels directly. It is used in an electric vehicle drivetrain system. It helps improve the driving experience and generates more power. As power goes straight from the motor to the wheel, the in-wheel motor reduces the distance the power travels, which in turn increases the efficiency of the motor.

The growth of the in-wheel motor market is driven by increased driving range, reliability, and improved vehicle performance. Additionally, it helps to reduce vehicle part count, complexity, and cost by integrating power electronics into the system. The system can also be combined with regenerative braking to enhance performance and increase distance coverage per charge. However, factors such as high price and increase in unsprang weight in the wheel can restrain the growth of this market.

The growth of the in-wheel motor market is directly proportional to the growth of electric vehicle sales. Electric vehicle sales have increased significantly, especially in countries such as Japan, China, Germany, France, Netherlands, Norway, the UK, and the US. These countries, with favourable government policies, incentives, and infrastructure investment, account for more than 90% of the world’s EV sales.

The increase in R&D expenses can provide lucrative opportunities for in-wheel motor manufacturers to develop technologies to increase the efficiency of a vehicle. Various component manufacturers are focusing on developing an efficient system for future transport. The growing interest in self-driving cars is expected to boost the development of advanced technologies such as in-wheel motor to provide the best-in-class driving experience.

COVID-19 Impact on the In-wheel motor market:

The impact of COVID-19 can be assessed by analyzing the impact on raw materials that are used as an input in Manufacturing In-wheel motors and the EV market. The outbreak of the COVID-19 pandemic is not expected to affect the extraction of materials such as steel, copper, and aluminum. With trade restrictions in place during the first six months of 2020, raw material extraction was continued by major extractors in China. However, the prices of raw materials such as copper will continue to rise, with the copper price hitting USD 10,000 per ton for the first time in 10 years, in May 2021.

When it comes to impact on In-wheel motor market due to impact on EV market it was observed the number of EVs sold in 2020 was more than the total EVs sold in 2019. However, component manufacturing was affected negatively, and small Tier II & Tier III manufacturers faced liquidity issues.

However, the industry witnessed a slow recovery from the second half of 2020, with global deliveries of BEVs and PHEVs increasing 43% year-on-year, though the global light vehicle market witnessed a decline in growth by 14%. According to EV-Volumes, the global EV market share increased from 2.5% in 2019 to 4.2% in 2020. Almost 1.4 million plug-in EVs were sold in Europe in 2020, 137% more than in 2019. Key factors for the growth in Europe were new models, green recovery funds, the 95g CO2 emission mandate, and the intense promotion of plug-in EVs. In China, NEV sales recovered in the second half of 2020, with a growth rate of more than 80% year-on-year from July to December. EV sales in the US increased by 4%, despite the Tesla Model-Y launch. A decline in EV sales was witnessed in countries like Japan, Canada, and Australia. So, the impact of COVID-19 on the in-wheel motor market is expected to be subdued over the forecast period.

Market Dynamics:

Driver: Increasing penetration of electric vehicles globally.

The market for electric vehicles is growing at a fast pace. The global EV sales surged by 38% in 2020 vis-à-vis 2019 despite the conventional vehicle industry mired with the COVID-19 pandemic that resulted in negative growth. Factors such as the growing demand for low emission and government regulations supporting long-range, zero-emission vehicles through subsidies & tax rebates have compelled manufacturers to provide electric vehicles around the world. With increased sales of electric vehicles, the demand for electric vehicle parts and components is also rising rapidly.

Restraint: Increase in unsprung weight in wheel.

Automakers prefer to keep the unsprung mass in the vehicle to a minimum to improve the ride quality. The incorporation of in-wheel motor technology in a vehicle increases unsprung weight, which can deteriorate ride comfort. The unsprung weight or mass includes the weight of the suspension, brakes, bearings, wheels or tracks, and a few other components directly connected to the wheel. The unsprung weight also includes the weight of components such as wheel axles, wheel bearings, wheel hubs, tires, and a portion of the weight of driveshafts, springs, shock absorbers, and suspension links. If the vehicle's brakes are mounted on the wheel, which is directly subjected to unsprung weight, it will increase the stress of the wheel. Thus, the increase in unsprung weight can restrain the incorporation of in-wheel motor technology in vehicles.

Opportunity: Change in the regulatory environment globally.

Over the last decade, there has been enormous support on the policy front in order to promote electric vehicles (EVs). According to a report published by the International Energy Agency, 10 million cars were on the world’s roads in 2020, and sales of electric cars were 4.6% of the total car sales around the world. These developments are a testament to the increase in proclivity towards electric vehicles due to the policy support and increase in awareness about climate change due to the burning of fossil fuels.

Challenge: Rise in incidents of failure.

One of the major challenges that can hinder the growth of in-wheel motors is rising incidents of failure. Hyundai Motor experienced motor failures in their electric buses, which compelled them to discontinue the use of in-wheel motors. Hyundai’s in-wheel motor has experienced wear of rotors and dissimilarity phenomenon on various occasions. As per the company, the gear of the moderator in the in-wheel motor was defunct, resulting in metal powder caused by wear or dissimilarity. In some cases, it was repeatedly observed in the vehicles causing the vehicles to stop while driving. Subsequently, Hyundai Motor recalled its 253 electric buses “Elec-city” produced and sold between November 2018 and February 2020. The company has taken a major step to stop the use of in-wheel motors and convert the power system of electric buses from an in-wheel motor to a regular electric motor from March 2021.

Axial flux motor segment is estimated to account for the larger market share during the forecast period.

Based on motor type, the in-wheel motor market is segmented into axial flux motor and radial flux motor. The axial flux motor has high power density and efficiency than the radial flux motor. It is compact and can be placed in or close to each wheel of the vehicle. It is mainly used in high-torque and low-speed applications. Axial flux motors are compact, lightweight, and highly efficient. They are used to increase the output torque and efficiency and can be used as direct drives in electric vehicles. The manufacturing and assembling processes are simple as compared to a radial flux motor. Thus, the segment would continue to lead the market over the forecast period.

Passenger Car segment is estimated to account for the larger market share during the forecast period.

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. Most EV makers are focusing on improving the overall driving range, lower weight, and optimizing the vehicles' design. EV makers can ensure optimum space utilization as well as improved power efficiency by using in-wheel motors. Apart from the EV makers, Tier 1 companies are keen on improving the performance of electric cars in terms of weight, driving range, space, and overall handling. Thus, the passenger cars segment would remain dominant over the forecast period. The commercial vehicles segment has a relatively higher penetration of in-wheel motors due to the higher requirement of power. Thus, the segment is expected to register a faster growth rate during the forecast period.

Asia Pacific is expected to remain the dominant region during the forecast period.

Asia Pacific is expected to be the largest and the fastest-growing market for in-wheel motors due to rapid growth in EV sales across countries such as Japan and China. Major players such as Protean Electric and Elaphe are already making efforts to strengthen their presence in China due to the large EV market in the country. Europe is expected to show rapid growth due to strong EV sales in recent years, thereby emerging as the second-largest market for in-wheel motors. The market is primarily governed by countries such as Germany, the UK, and other Nordic countries. Europe is also home to major in-wheel motor manufacturers, thereby supporting the market growth.

In-Wheel Motor Market by Region

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Key Market Players

The in-wheel motor market ecosystem consists of in-wheel motor manufacturers such as Protean Electric (US), Elaphe (Slovenia), ZIEHL-ABEGG (Germany), Printed Motor Works (UK), and NTN (Japan). The ecosystem also covers various OEMs such as Tesla (US), Nissan Motor Corporation (Japan), BYD (China), BMW (Germany), and Volkswagen (Germany).

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Scope of the Report

Report Metric

Details

Market size available for years

2018–2026

Base year considered

2020

Forecast period

2021-2026

Forecast units

Volume (Units), Value (USD Million)

Segments covered

Vehicle Type, Motor Type, Cooling Type, Propulsion Type, Power Output, Vehicle Class, Motor Weight, and Component

Geographies covered

North America, Asia Pacific, and Europe.

Companies Covered

Protean Electric (UK), Elaphe Ltd. (Slovenia), Printed Motor Works (UK), ZIEHL-ABEGG (Germany), NTN Corporation (Japan), and Schaeffler (Germany). 
A total of 25 major company profiles covered and provided

This research report categorizes the in-wheel motor market based on Vehicle Type, Motor Type, Cooling Type, Propulsion Type, Power Output, Vehicle Class, Motor Weight, Component, and Region.

By Propulsion

  • BEV
  • FCEV
  • HEV
  • PHEV

By Vehicle Type

  • Passenger Car
  • Commercial Vehicle

By Motor Type

  • Axial Flux Motor
  • Radial Flux Motor

By Cooling Type

  • Air-cooled
  • Liquid-cooled

By Power Output Type

  • Up to 60 KW
  • 60–90 KW
  • Above 90 KW

By Vehicle Class

  • Mid-priced
  • Luxury

By Motor Weight

  • Less than 20 Kg
  • 20-30 Kg
  • Above 30 Kg

By Region

  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
  • North America
    • US
    • Canada
  • Europe
    • France
    • Germany
    • Spain
    • UK
    • Sweden
    • The Netherlands
    • Norway

Recent Developments

  • In June 2021, Local Motors and Protean Electric extended their long-standing partnership, inking a further three-year deal valued at USD 7.3 million. Under the extended partnership, Protean Electric will deliver its ProteanDrive in-wheel motors for Olli 2.0, the electric autonomous shuttles by Local Motors.
  • In June 2019, NEVS acquired UK-based automotive technology firm Protean Electric for developing next-generation electric and autonomous vehicles. Protean Electric will continue to act as an independent entity post the acquisition.
  • In January 2019, Hanseatische Fahrzeug Manufaktur (HFM) partnered with Elaphe to use in-wheel motors developed by Elaphe for its autonomous electric vehicle platform, “Motionboard”.
  • In November 2018, Schaeffler acquired Elmotec Statomat GmbH, one of the world’s leading manufacturers of production machinery for the high-volume construction of electric motors with expertise in the field of winding technology. This acquisition helped Schaeffler expand its expertise in electric motors construction besides driving forward the implementation of its electric mobility strategy.

Critical questions answered by this report:

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TABLE OF CONTENTS

1 INTRODUCTION (Page No. - 20)
    1.1 STUDY OBJECTIVES
    1.2 MARKET DEFINITION
    1.3 MARKET SCOPE
           1.3.1 MARKETS COVERED
                    FIGURE 1 IN-WHEEL MOTOR MARKET SEGMENTATION
           1.3.2 INCLUSIONS & EXCLUSIONS
                    TABLE 1 INCLUSIONS & EXCLUSIONS
           1.3.3 YEARS CONSIDERED FOR THE STUDY
    1.4 PACKAGE SIZE
    1.5 STAKEHOLDERS
    1.6 SUMMARY OF CHANGES

2 RESEARCH METHODOLOGY (Page No. - 27)
    2.1 RESEARCH DATA
           FIGURE 2 IN-WHEEL MOTOR MARKET: RESEARCH DESIGN
           FIGURE 3 RESEARCH METHODOLOGY MODEL
           2.1.1 SECONDARY DATA
                    2.1.1.1 Key secondary sources
                    2.1.1.2 Key data from secondary sources
           2.1.2 PRIMARY DATA
                    FIGURE 4 BREAKDOWN OF PRIMARY INTERVIEWS
                    2.1.2.1 List of primary participants
    2.2 MARKET ESTIMATION METHODOLOGY
           FIGURE 5 RESEARCH METHODOLOGY: HYPOTHESIS BUILDING
    2.3 MARKET SIZE ESTIMATION
           2.3.1 BOTTOM-UP APPROACH
                    FIGURE 6 MARKET SIZE ESTIMATION METHODOLOGY FOR THE IN-WHEEL MOTOR MARKET: BOTTOM-UP APPROACH
                    FIGURE 7 IN-WHEEL MOTOR MARKET SIZE ESTIMATION APPROACH
           2.3.2 TOP-DOWN APPROACH
                    FIGURE 8 MARKET SIZE ESTIMATION METHODOLOGY FOR THE IN-WHEEL MOTOR MARKET: TOP-DOWN APPROACH
                    FIGURE 9 IN-WHEEL MOTOR MARKET: RESEARCH METHODOLOGY ILLUSTRATION OF NTN CORPORATION’S IN-WHEEL MOTOR REVENUE ESTIMATION
                    FIGURE 10 IN-WHEEL MOTOR MARKET: RESEARCH DESIGN & METHODOLOGY
                    FIGURE 11 CAGR PROJECTIONS: FACTOR ANALYSIS
    2.4 MARKET BREAKDOWN AND DATA TRIANGULATION
           FIGURE 12 DATA TRIANGULATION
    2.5 FACTOR ANALYSIS
           2.5.1 FACTOR ANALYSIS FOR MARKET SIZING: DEMAND AND SUPPLY-SIDE
    2.6 ASSUMPTIONS
    2.7 RESEARCH LIMITATIONS

3 EXECUTIVE SUMMARY (Page No. - 41)
    FIGURE 13 IN-WHEEL MOTOR: MARKET OVERVIEW
    FIGURE 14 IN-WHEEL MOTOR MARKET, BY REGION, 2021–2026 (UNITS)
    FIGURE 15 IN-WHEEL MOTOR MARKET, BY REGION, 2021–2026
    FIGURE 16 IN-WHEEL MOTOR MARKET, BY MOTOR TYPE, 2021 VS. 2026 (UNITS)

4 PREMIUM INSIGHTS (Page No. - 45)
    4.1 ATTRACTIVE GLOBAL OPPORTUNITIES IN THE IN-WHEEL MOTOR MARKET
           FIGURE 17 GROWING EFFORTS TOWARD IMPROVING PERFORMANCE OF ELECTRIC VEHICLES TO DRIVE THE IN-WHEEL MOTOR MARKET
    4.2 IN-WHEEL MOTOR MARKET, BY POWER OUTPUT
           FIGURE 18 UP TO 60 KW SEGMENT EXPECTED TO LEAD THE MARKET
    4.3 IN-WHEEL MOTOR MARKET, BY MOTOR TYPE
           FIGURE 19 RADIAL FLUX MOTOR EXPECTED TO HOLD LARGER MARKET SHARE
    4.4 IN-WHEEL MOTOR MARKET, BY PROPULSION TYPE
           FIGURE 20 BEV EXPECTED TO DOMINATE THE MARKET DURING FORECAST PERIOD
    4.5 IN-WHEEL MOTOR MARKET, BY VEHICLE TYPE
           FIGURE 21 PASSENGER CARS EXPECTED TO LEAD MARKET
    4.6 IN-WHEEL MOTOR MARKET, BY REGION
           FIGURE 22 ASIA PACIFIC ESTIMATED TO HOLD LARGEST SHARE OF IN-WHEEL MOTOR MARKET IN 2021 (UNITS)

5 MARKET OVERVIEW (Page No. - 49)
    5.1 INTRODUCTION
    5.2 MARKET DYNAMICS
           FIGURE 23 IN-WHEEL MOTOR MARKET DYNAMICS
           5.2.1 DRIVERS
                    5.2.1.1 Improved dynamics, increased simplicity, and efficiency of vehicles
                    5.2.1.2 Reduced weight and provides more space
                    5.2.1.3 Increase in investments & rise in mergers & acquisitions
                    5.2.1.4 Increasing penetration of electric vehicles globally
                               FIGURE 24 GLOBAL EV AND BEV PASSENGER CAR SALES
           5.2.2 RESTRAINTS
                    5.2.2.1 Increase in unsprung weight in wheels
                    5.2.2.2 Inability to mount on conventional vehicles
           5.2.3 OPPORTUNITIES
                    5.2.3.1 Change in the regulatory environment globally
                               TABLE 2 CHANGE IN REGULATORY ENVIRONMENT GLOBALLY
                    5.2.3.2 Rising opportunities for commercial and off-highway electric vehicles
                    5.2.3.3 Rising trend of autonomous technology in vehicles
                               TABLE 3 AUTONOMOUS VEHICLE DEVELOPMENTS
           5.2.4 CHALLENGES
                    5.2.4.1 High costs
                    5.2.4.2 Complexity in controlling individual wheel speed
                    5.2.4.3 Rise in incidents of failure
                               TABLE 4 IMPACT OF MARKET DYNAMICS ON IN-WHEEL MOTOR MARKET
    5.3 PORTER’S FIVE FORCES ANALYSIS
           FIGURE 25 PORTER’S FIVE FORCES ANALYSIS: CONSISTENT EFFORTS FOR PRODUCT IMPROVEMENT INCREASES THE DEGREE OF COMPETITION
           TABLE 5 IN-WHEEL MOTOR MARKET: IMPACT OF PORTERS FIVE FORCES
           5.3.1 THREAT OF SUBSTITUTES
           5.3.2 THREAT OF NEW ENTRANTS
           5.3.3 BARGAINING POWER OF BUYERS
           5.3.4 BARGAINING POWER OF SUPPLIERS
           5.3.5 RIVALRY AMONG EXISTING COMPETITORS
    5.4 SUPPLY CHAIN ANALYSIS
           FIGURE 26 IN-WHEEL MOTOR MARKET: SUPPLY CHAIN ANALYSIS
           5.4.1 IN-WHEEL MOTOR MANUFACTURERS
           5.4.2 COMPONENT MANUFACTURERS
           5.4.3 OEMS
    5.5 ECOSYSTEM
           FIGURE 27 IN-WHEEL MOTOR MARKET: ECOSYSTEM
           TABLE 6 IN-WHEEL MOTOR MARKET: ROLE OF COMPANIES IN ECOSYSTEM
    5.6 TECHNOLOGY ANALYSIS
           5.6.1 INTRODUCTION
           5.6.2 IN-WHEEL MOTOR WITH 360 DEGREE STEERING
                    FIGURE 28 360-DEGREE CORNER MODULE
           5.6.3 IN-WHEEL MODULAR PLATFORM WITH SOFTWARE INTEGRATION
           5.6.4 INDEPENDENT WHEEL TORQUE CONTROL
    5.7 PRICING ANALYSIS
           FIGURE 29 IN-WHEEL MOTOR MARKET: APPROXIMATE PRICE OF MOTORS BY YEAR
           FIGURE 30 EV POWERTRAIN COST BREAKDOWN IN 2025 (ESTIMATE)
    5.8 PATENT ANALYSIS
    5.9 CASE STUDIES
           5.9.1 ELECTRIC PICK-UP TRUCKS EQUIPPED WITH IN-WHEEL MOTORS BY LORDSTOWN MOTORS
           5.9.2 ELAPHE’S L1500 IN-WHEEL MOTORS
           5.9.3 LEXUS LF-30 CONCEPT CAR WITH IN-WHEEL MOTOR
           5.9.4 NISSAN BLADEGLIDER EQUIPPED WITH TWO IN-WHEEL MOTORS
    5.10 COVID-19 HEALTH ASSESSMENT
           FIGURE 31 COVID-19: GLOBAL PROPAGATION
           FIGURE 32 COVID-19 PROPAGATION: SELECT COUNTRIES
    5.11 COVID-19 ECONOMIC ASSESSMENT
           FIGURE 33 REVISED GROSS DOMESTIC PRODUCT FORECASTS FOR SELECT G20 COUNTRIES IN 2020
           5.11.1 COVID-19 ECONOMIC IMPACT—SCENARIO ASSESSMENT
                     FIGURE 34 CRITERIA IMPACTING GLOBAL ECONOMY
                     FIGURE 35 SCENARIOS IN TERMS OF RECOVERY OF GLOBAL ECONOMY
    5.12 IN-WHEEL MOTOR MARKET: COVID-19 IMPACT
           5.12.1 IMPACT ON RAW MATERIAL SUPPLY
           5.12.2 IMPACT ON EV DEMAND
           5.12.3 OEM ANNOUNCEMENTS
                     TABLE 7 OEM ANNOUNCEMENTS
    5.13 IN-WHEEL MOTOR MARKET SCENARIO ANALYSIS
           FIGURE 36 IMPACT OF COVID-19 ON IN-WHEEL MOTOR MARKET
           5.13.1 IN-WHEEL MOTOR MARKET - MOST LIKELY SCENARIO
                    TABLE 8 IN-WHEEL MOTOR MARKET (MOST LIKELY SCENARIO), BY REGION, 2021–2026 (UNITS)
           5.13.2 IN-WHEEL MOTOR MARKET - OPTIMISTIC SCENARIO
                    TABLE 9 IN-WHEEL MOTOR MARKET (OPTIMISTIC), BY REGION, 2021–2026 (UNITS)
           5.13.3 IN-WHEEL MOTOR MARKET – PESSIMISTIC SCENARIO
                    TABLE 10 IN-WHEEL MOTOR MARKET (PESSIMISTIC), BY REGION, 2021–2026 (UNITS)
    5.14 IN-WHEEL MOTOR MARKET: TRENDS/DISRUPTIONS IMPACTING BUYERS
           FIGURE 37 KEY FUTURE TRENDS/DISRUPTIONS EXPECTED TO IMPACT THE IN-WHEEL MOTOR MARKET

6 IN-WHEEL MOTOR MARKET, BY COMPONENT (Page No. - 78)
    6.1 INTRODUCTION
    6.2 SUSPENSION
    6.3 ROTOR AND STATOR
    6.4 WHEEL BEARINGS
    6.5 REGENERATIVE BRAKING SYSTEM

7 IN-WHEEL MOTOR MARKET, BY MOTOR WEIGHT (Page No. - 79)
    7.1 INTRODUCTION
    7.2 OPERATIONAL DATA
    7.3 LESS THAN 20 KG
    7.4 20-30 KG
    7.5 ABOVE 30 KG

8 IN-WHEEL MOTOR MARKET, BY COOLING TYPE (Page No. - 81)
    8.1 INTRODUCTION
           TABLE 11 GLOBAL MARKET, BY COOLING TYPE, 2018–2020 (UNITS)
           TABLE 12 GLOBAL MARKET, BY COOLING TYPE, 2021–2026 (UNITS)
           FIGURE 38 LIQUID-COOLED IN-WHEEL MOTOR SEGMENT IS EXPECTED TO GROW AT A HIGHER CAGR DURING FORECAST PERIOD
    8.2 OPERATIONAL DATA
           TABLE 13 IN-WHEEL MOTOR OFFERING, BY COOLING TYPE
    8.3 ASSUMPTIONS
           TABLE 14 ASSUMPTIONS: BY COOLING TYPE
    8.4 RESEARCH METHODOLOGY
    8.5 AIR-COOLED IN-WHEEL MOTOR
           8.5.1 ANTICIPATED GROWTH IN LOW POWERED COMPACT EVS TO DRIVE THE AIR-COOLED IN-WHEEL MOTOR SEGMENT
                    TABLE 15 AIR-COOLED: MARKET, BY REGION, 2018–2020 (UNITS)
                    TABLE 16 AIR-COOLED: MARKET, BY REGION, 2021–2026 (UNITS)
    8.6 LIQUID-COOLED IN-WHEEL MOTOR
           8.6.1 CONSISTENT IMPROVEMENT IN EV POWER EXPECTED TO BOOST THE GROWTH OF LIQUID-COOLED IN-WHEEL MOTORS
                    TABLE 17 LIQUID-COOLED: MARKET, BY REGION, 2018–2020 (UNITS)
                    TABLE 18 LIQUID-COOLED: MARKET, BY REGION, 2021–2026 (UNITS)
    8.7 KEY PRIMARY INSIGHTS

9 IN-WHEEL MOTOR MARKET, BY MOTOR TYPE (Page No. - 88)
    9.1 INTRODUCTION
           TABLE 19 GLOBAL MARKET, BY MOTOR TYPE, 2018–2020 (UNITS)
           TABLE 20 GLOBAL MARKET, BY MOTOR TYPE, 2021–2026 (UNITS)
           FIGURE 39 RADIAL FLUX MOTOR EXPECTED TO LEAD THE IN-WHEEL MOTOR MARKET DURING THE FORECAST PERIOD
    9.2 OPERATIONAL DATA
           TABLE 21 IN-WHEEL MOTOR TYPES
    9.3 ASSUMPTIONS
           TABLE 22 ASSUMPTIONS: BY MOTOR TYPE
    9.4 RESEARCH METHODOLOGY
    9.5 AXIAL FLUX MOTOR
           9.5.1 AXIAL FLUX MOTOR SEGMENT TO BE DRIVEN BY GROWING INCLINATION TOWARD COMPACT EVS
                    TABLE 23 AXIAL FLUX: MARKET, BY REGION, 2018–2020 (UNITS)
                    TABLE 24 AXIAL FLUX: MARKET, BY REGION, 2021–2026 (UNITS)
    9.6 RADIAL FLUX MOTOR
           9.6.1 RADIAL FLUX IN-WHEEL MOTORS TO REMAIN A LARGER SEGMENT DUE TO THEIR HIGHER EFFICIENCY
                    TABLE 25 RADIAL FLUX: MARKET, BY REGION, 2018–2020 (UNITS)
                    TABLE 26 RADIAL FLUX: MARKET, BY REGION, 2021–2026 (UNITS)
    9.7 KEY PRIMARY INSIGHTS

10 IN-WHEEL MOTOR MARKET, BY POWER OUTPUT (Page No. - 94)
     10.1 INTRODUCTION
             TABLE 27 GLOBAL MARKET, BY POWER OUTPUT, 2018–2020 (UNITS)
             TABLE 28 GLOBAL MARKET, BY POWER OUTPUT, 2021–2026 (UNITS)
             FIGURE 40 IN-WHEEL MOTORS HAVING POWER OUTPUT UP TO 60 KW EXPECTED TO BE THE LARGEST SEGMENT FROM 2021–2026
     10.2 OPERATIONAL DATA
     10.3 ASSUMPTIONS
             TABLE 29 ASSUMPTIONS: BY POWER OUTPUT
     10.4 RESEARCH METHODOLOGY
     10.5 UP TO 60 KW
             10.5.1 AVAILABILITY OF A LARGE NUMBER OF VEHICLES WITH POWER OUTPUT UP TO 60 KW DRIVE THIS SEGMENT
                        TABLE 30 UP TO 60 KW: MARKET, BY REGION, 2018–2020 (UNITS)
                        TABLE 31 UP TO 60 KW: MARKET, BY REGION, 2021–2026 (UNITS)
     10.6 60-90 KW
             10.6.1 ELECTRIC BUSES AND PICK-UP TRUCKS TO EMERGE AS PROMISING APPLICATIONS OF 60-90 KW MOTORS
                        TABLE 32 60-90 KW: MARKET, BY REGION, 2018–2020 (UNITS)
                        TABLE 33 60-90 KW: MARKET, BY REGION, 2021–2026 (UNITS)
     10.7 ABOVE 90 KW
             10.7.1 INCREASING DEVELOPMENT OF HIGH-PERFORMANCE ELECTRIC VEHICLES WILL BOOST THE SEGMENT
                        TABLE 34 ABOVE 90 KW: MARKET, BY REGION, 2018–2020 (UNITS)
                        TABLE 35 ABOVE 90 KW: MARKET, BY REGION, 2021–2026 (UNITS)
     10.8 KEY PRIMARY INSIGHTS

11 IN-WHEEL MOTOR MARKET, BY PROPULSION TYPE (Page No. - 101)
     11.1 INTRODUCTION
             TABLE 36 GLOBAL MARKET, BY PROPULSION TYPE, 2018–2020 (UNITS)
             TABLE 37 GLOBAL MARKET, BY PROPULSION TYPE, 2021–2026 (UNITS)
             FIGURE 41 BEV SEGMENT IS EXPECTED TO LEAD IN-WHEEL MOTOR MARKET FROM 2021–2026
     11.2 OPERATIONAL DATA
             TABLE 38 POPULAR EVS ACROSS THE WORLD: UNIT SALES, 2020
     11.3 ASSUMPTIONS
             TABLE 39 ASSUMPTIONS: BY PROPULSION TYPE
     11.4 RESEARCH METHODOLOGY
     11.5 BATTERY ELECTRIC VEHICLE (BEV)
             11.5.1 HIGH BEV SALES WORLDWIDE TO SUPPORT THE GROWTH OF THIS SEGMENT
                        TABLE 40 BEV: MARKET, BY REGION, 2018–2020 (UNITS)
                        TABLE 41 BEV: MARKET, BY REGION, 2021–2026 (UNITS)
     11.6 FUEL CELL ELECTRIC VEHICLE (FCEV)
             11.6.1 GROWING GOVERNMENT INITIATIVES TOWARD FUEL CELL DEVELOPMENT EXPECTED TO BOOST DEMAND
                        TABLE 42 FCEV: MARKET, BY REGION, 2018–2020 (UNITS)
                        TABLE 43 FCEV: MARKET, BY REGION, 2021–2026 (UNITS)
     11.7 HYBRID ELECTRIC VEHICLE (HEV)
             11.7.1 HIGHER EFFICIENCY & RELIABILITY OF HEVS DRIVE THEIR DEMAND
                        TABLE 44 HEV: MARKET, BY REGION, 2018–2020 (UNITS)
                        TABLE 45 HEV: MARKET, BY REGION, 2021–2026 (UNITS)
     11.8 PLUG-IN HYBRID ELECTRIC VEHICLE (PHEV)
             11.8.1 HIGH ELECTRIC RANGE OF PHEVS WILL DRIVE THE MARKET SIGNIFICANTLY
                        TABLE 46 PHEV: MARKET, BY REGION, 2018–2020 (UNITS)
                        TABLE 47 PHEV: MARKET, BY REGION, 2021–2026 (UNITS)
     11.9 KEY PRIMARY INSIGHTS

12 IN-WHEEL MOTOR MARKET, BY VEHICLE TYPE (Page No. - 111)
     12.1 INTRODUCTION
             TABLE 48 GLOBAL MARKET, BY VEHICLE TYPE, 2018–2020 (UNITS)
             TABLE 49 GLOBAL MARKET, BY VEHICLE TYPE, 2021–2026 (UNITS)
             TABLE 50 GLOBAL MARKET, BY VEHICLE TYPE, 2018–2020 (USD MILLION)
             TABLE 51 GLOBAL MARKET, BY VEHICLE TYPE, 2021–2026 (USD MILLION)
             FIGURE 42 PASSENGER CARS SEGMENT EXPECTED TO LEAD THE MARKET FOR IN-WHEEL MOTORS DURING FORECAST PERIOD
     12.2 OPERATIONAL DATA
             TABLE 52 EUROPE: ELECTRIC VEHICLE SALES, BY VEHICLE TYPE, 2018–2020 (UNITS)
             TABLE 53 ASIA PACIFIC: ELECTRIC VEHICLE SALES, BY VEHICLE TYPE, 2018–2020 (UNITS)
             TABLE 54 NORTH AMERICA: ELECTRIC VEHICLE SALES, BY VEHICLE TYPE, 2018–2020 (UNITS)
     12.3 ASSUMPTIONS
             TABLE 55 ASSUMPTIONS: VEHICLE TYPE
     12.4 RESEARCH METHODOLOGY
     12.5 PASSENGER CARS (PC)
             12.5.1 HIGH PASSENGER CAR SALES WORLDWIDE TO ENSURE THE DOMINANCE OF THIS SEGMENT
                        TABLE 56 PASSENGER CARS: MARKET, BY REGION, 2018–2020 (UNITS)
                        TABLE 57 PASSENGER CARS: MARKET, BY REGION, 2021–2026 (UNITS)
                        TABLE 58 PASSENGER CARS: MARKET, BY REGION, 2018–2020 (USD MILLION)
                        TABLE 59 PASSENGER CARS: MARKET, BY REGION, 2021–2026 (USD MILLION)
     12.6 COMMERCIAL VEHICLES (CV)
             12.6.1 HIGHER PENETRATION OF IN-WHEEL MOTORS IN COMMERCIAL VEHICLES TO DRIVE THE SEGMENT GROWTH
                        TABLE 60 COMMERCIAL VEHICLES: MARKET, BY REGION, 2018–2020 (UNITS)
                        TABLE 61 COMMERCIAL VEHICLES: MARKET, BY REGION, 2021–2026 (UNITS)
                        TABLE 62 COMMERCIAL VEHICLES: MARKET, BY REGION, 2018–2020 (USD MILLION)
                        TABLE 63 COMMERCIAL VEHICLES: MARKET, BY REGION, 2021–2026 (USD MILLION)
     12.7 KEY PRIMARY INSIGHTS

13 IN-WHEEL MOTOR MARKET, BY VEHICLE CLASS (Page No. - 119)
     13.1 INTRODUCTION
             TABLE 64 GLOBAL MARKET, BY VEHICLE CLASS, 2018–2020 (UNITS)
             TABLE 65 GLOBAL MARKET, BY VEHICLE CLASS, 2021–2026 (UNITS)
             FIGURE 43 MID-PRICED SEGMENT EXPECTED TO LEAD IN-WHEEL MOTOR MARKET DURING FORECAST PERIOD
     13.2 OPERATIONAL DATA
             TABLE 66 POPULAR EVS ACROSS THE WORLD, BY VEHICLE CLASS
     13.3 ASSUMPTIONS
             TABLE 67 ASSUMPTIONS: BY VEHICLE CLASS
     13.4 RESEARCH METHODOLOGY
     13.5 MID-PRICED
     13.6 LUXURY
     13.7 KEY PRIMARY INSIGHTS

14 IN-WHEEL MOTOR MARKET, BY REGION (Page No. - 124)
     14.1 INTRODUCTION
             FIGURE 44 GLOBAL MARKET, BY REGION, 2021 VS. 2026
             TABLE 68 GLOBAL MARKET, BY REGION, 2018–2020 (UNITS)
             TABLE 69 GLOBAL MARKET, BY REGION, 2021–2026 (UNITS)
             TABLE 70 GLOBAL MARKET, BY REGION, 2018–2020 (USD MILLION)
             TABLE 71 GLOBAL MARKET, BY REGION, 2021–2026 (USD MILLION)
     14.2 ASIA PACIFIC
             FIGURE 45 CHINA EXPECTED TO LEAD IN-WHEEL MOTOR MARKET IN ASIA PACIFIC DURING FORECAST PERIOD
             TABLE 72 ASIA PACIFIC: MARKET, BY COUNTRY, 2018–2020 (UNITS)
             TABLE 73 ASIA PACIFIC MARKET, BY COUNTRY, 2021–2026 (UNITS)
             TABLE 74 ASIA PACIFIC: MARKET, BY COUNTRY, 2018–2020 (USD MILLION)
             TABLE 75 ASIA PACIFIC: MARKET, BY COUNTRY, 2021–2026 (USD MILLION)
             14.2.1 CHINA
                        14.2.1.1 High adoption of EVs and focused electrification of public transport to boost the market growth in China
                                     TABLE 76 CHINA: MARKET, BY MOTOR TYPE, 2018–2020 (UNITS)
                                     TABLE 77 CHINA: MARKET, BY MOTOR TYPE, 2021–2026 (UNITS)
             14.2.2 INDIA
                        14.2.2.1 Change in the regulatory environment and fall in EV costs to push the growth of in-wheel motor market in India
                                     TABLE 78 INDIA: MARKET, BY MOTOR TYPE, 2021–2026 (UNITS)
             14.2.3 JAPAN
                        14.2.3.1 Japan to experience growth of in-wheel motor market with an increase in the sale of electric vehicles
                                     TABLE 79 JAPAN: MARKET, BY MOTOR TYPE, 2018–2020 (UNITS)
                                     TABLE 80 JAPAN: MARKET, BY MOTOR TYPE, 2021–2026 (UNITS)
             14.2.4 SOUTH KOREA
                        14.2.4.1 South Korea to experience growth of in-wheel motor market with rise in the sale of HEVs
                                     TABLE 81 SOUTH KOREA: MARKET, BY MOTOR TYPE, 2018–2020 (UNITS)
                                     TABLE 82 SOUTH KOREA: MARKET, BY MOTOR TYPE, 2021–2026 (UNITS)
     14.3 EUROPE
             FIGURE 46 GERMANY EXPECTED TO LEAD IN-WHEEL MOTOR MARKET IN EUROPE DURING FORECAST PERIOD
             TABLE 83 EUROPE: MARKET, BY COUNTRY, 2018–2020 (UNITS)
             TABLE 84 EUROPE: MARKET, BY COUNTRY, 2021–2026 (UNITS)
             TABLE 85 EUROPE: MARKET, BY COUNTRY, 2018–2020 (USD MILLION)
             TABLE 86 EUROPE: MARKET, BY COUNTRY, 2021–2026 (USD MILLION)
             14.3.1 FRANCE
                        14.3.1.1 Government offering purchase grants projected to boost market
                                     TABLE 87 FRANCE: MARKET, BY MOTOR TYPE, 2018–2020 (UNITS)
                                     TABLE 88 FRANCE: MARKET, BY MOTOR TYPE, 2021–2026 (UNITS)
             14.3.2 GERMANY
                        14.3.2.1 Rising sales of hybrid vehicles by domestic players expected to drive the market
                                     TABLE 89 GERMANY: MARKET, BY MOTOR TYPE, 2018–2020 (UNITS)
                                     TABLE 90 GERMANY: MARKET, BY MOTOR TYPE, 2021–2026 (UNITS)
             14.3.3 SPAIN
                        14.3.3.1 Improvement in the EV infrastructure to boost the market
                                     TABLE 91 SPAIN: MARKET, BY MOTOR TYPE, 2018–2020 (UNITS)
                                     TABLE 92 SPAIN: MARKET, BY MOTOR TYPE, 2021–2026 (UNITS)
             14.3.4 THE NETHERLANDS
                        14.3.4.1 Government focus towards greener vehicles to drive the market
                                     TABLE 93 NETHERLANDS: MARKET, BY MOTOR TYPE, 2018–2020 (UNITS)
                                     TABLE 94 NETHERLANDS: MARKET, BY MOTOR TYPE, 2021–2026 (UNITS)
             14.3.5 NORWAY
                        14.3.5.1 Emergence of e-mobility and high EV adoption rate to boost demand
                                     TABLE 95 NORWAY: MARKET, BY MOTOR TYPE, 2018–2020 (UNITS)
                                     TABLE 96 NORWAY: MARKET, BY MOTOR TYPE, 2021–2026 (UNITS)
             14.3.6 SWEDEN
                        14.3.6.1 Government incentives and subsidies to drive the market
                                     TABLE 97 SWEDEN: MARKET, BY MOTOR TYPE, 2018–2020 (UNITS)
                                     TABLE 98 SWEDEN: MARKET, BY MOTOR TYPE, 2021–2026 (UNITS)
             14.3.7 UK
                        14.3.7.1 Investments in ultra-low emission vehicles will boost the demand for in-wheel motors
                                     TABLE 99 UK: MARKET, BY MOTOR TYPE, 2018–2020 (UNITS)
                                     TABLE 100 UK: MARKET, BY MOTOR TYPE, 2021–2026 (UNITS)
     14.4 NORTH AMERICA
             TABLE 101 NORTH AMERICA: IN-WHEEL MOTOR MARKET, BY COUNTRY, 2018–2020 (UNITS)
             TABLE 102 NORTH AMERICA: MARKET, BY COUNTRY, 2021–2026 (UNITS)
             TABLE 103 NORTH AMERICA: MARKET, BY COUNTRY, 2018–2020 (USD MILLION)
             TABLE 104 NORTH AMERICA: MARKET, BY COUNTRY, 2021–2026 (USD MILLION)
             14.4.1 CANADA
                        14.4.1.1 Increasing development in electric vehicle infrastructure is expected to boost the in-wheel motor market
                                     TABLE 105 CANADA: MARKET, BY MOTOR TYPE, 2018–2020 (UNITS)
                                     TABLE 106 CANADA: MARKET, BY MOTOR TYPE, 2021–2026 (UNITS)
             14.4.2 US
                        14.4.2.1 Robust growth of the EV market will fuel the demand for in-wheel motors
                                     TABLE 107 US: MARKET, BY MOTOR TYPE, 2018–2020 (UNITS)
                                     TABLE 108 US: MARKET, BY MOTOR TYPE, 2021–2026 (UNITS)

15 RECOMMENDATIONS BY MARKETSANDMARKETS (Page No. - 145)
     15.1 ASIA PACIFIC IS THE KEY MARKET FOR IN-WHEEL MOTORS
     15.2 UP TO 60 KW TO REMAIN THE MOST LUCRATIVE SEGMENT FOR IN-WHEEL MOTORS
     15.3 CONCLUSION

16 COMPETITIVE LANDSCAPE (Page No. - 146)
     16.1 OVERVIEW
             FIGURE 47 KEY DEVELOPMENTS BY LEADING PLAYERS IN IN-WHEEL MOTOR MARKET FROM 2018–2021
     16.2 MARKET RANKING ANALYSIS
             FIGURE 48 IN-WHEEL MOTOR: MARKET RANKING ANALYSIS
     16.3 COMPETITIVE SCENARIO
             16.3.1 NEW PRODUCT LAUNCHES
                        TABLE 109 NEW PRODUCT LAUNCHES, 2018–2021
             16.3.2 DEALS
                        TABLE 110 DEALS, 2018–2021
             16.3.3 OTHERS
                        TABLE 111 OTHERS, 2018–2021
     16.4 COMPANY EVALUATION QUADRANT
             16.4.1 STARS
             16.4.2 EMERGING LEADERS
             16.4.3 PERVASIVE
             16.4.4 PARTICIPANTS
                        FIGURE 49 IN-WHEEL MOTOR MARKET: COMPANY EVALUATION QUADRANT, 2020
                        TABLE 112 IN-WHEEL MOTOR MARKET: COMPANY FOOTPRINT, 2020
                        TABLE 113 IN-WHEEL MOTOR MARKET: REGION FOOTPRINT, 2020
                        TABLE 114 COMPANY VEHICLE TYPE FOOTPRINT (7 COMPANIES)
     16.5 WINNERS VS. TAIL-ENDERS
             TABLE 115 WINNERS VS. TAIL-ENDERS

17 COMPANY PROFILES (Page No. - 155)
(Overview, Product offerings, Recent developments & MnM View)* 
     17.1 KEY COMPANIES
             17.1.1 NEVS (PROTEAN ELECTRIC)
                        TABLE 116 NEVS: BUSINESS OVERVIEW
                        TABLE 117 NEVS: PRODUCTS OFFERED
                        TABLE 118 NEVS: DEALS
                        TABLE 119 NEVS: OTHERS
             17.1.2 PRINTED MOTOR WORKS
                        TABLE 120 PRINTED MOTOR WORKS: BUSINESS OVERVIEW
                        TABLE 121 PRINTED MOTOR WORKS: PRODUCTS OFFERED
                        TABLE 122 PRINTED MOTOR WORKS: NEW PRODUCT DEVELOPMENTS
             17.1.3 ZIEHL-ABEGG
                        TABLE 123 ZIEHL-ABEGG: BUSINESS OVERVIEW
                        TABLE 124 ZIEHL-ABEGG: PRODUCTS OFFERED
                        TABLE 125 ZIEHL- ABEGG: OTHERS
             17.1.4 ELAPHE
                        TABLE 126 ELAPHE: BUSINESS OVERVIEW
                        TABLE 127 ELAPHE: PRODUCTS OFFERED
                        TABLE 128 ELAPHE: PRODUCT LAUNCHES
                        TABLE 129 ELAPHE: DEALS
             17.1.5 SCHAEFFLER
                        TABLE 130 SCHAEFFLER: BUSINESS OVERVIEW
                        FIGURE 50 SCHAEFFLER: COMPANY SNAPSHOT
                        TABLE 131 SCHAEFFLER: PRODUCTS OFFERED
                        TABLE 132 SCHAEFFLER: DEALS
             17.1.6 NSK LTD.
                        TABLE 133 NSK LTD: BUSINESS OVERVIEW
                        FIGURE 51 NSK LTD.: COMPANY SNAPSHOT
                        TABLE 134 NSK: PRODUCTS OFFERED
                        TABLE 135 NSK: PRODUCT LAUNCHES
             17.1.7 ECOMOVE
                        TABLE 136 ECOMOVE: BUSINESS OVERVIEW
                        TABLE 137 ECOMOVE: PRODUCTS OFFERED
             17.1.8 TAJIMA EV
                        TABLE 138 TAJIMA EV: BUSINESS OVERVIEW
             17.1.9 YASA
                        TABLE 139 YASA: BUSINESS OVERVIEW
                        TABLE 140 YASA: PRODUCTS OFFERED
             17.1.10 NTN
                        TABLE 141 NTN: BUSINESS OVERVIEW
                        FIGURE 52 NTN: COMPANY SNAPSHOT
                        TABLE 142 NTN: PRODUCTS OFFERED
                        TABLE 143 NTN: PRODUCT LAUNCHES
                        TABLE 144 NTN: DEALS
             17.1.11 E-TRACTION
                        TABLE 145 E-TRACTION: BUSINESS OVERVIEW
                        TABLE 146 E-TRACTION: PRODUCTS OFFERED
             17.1.12 TM4
                        TABLE 147 TM4: BUSINESS OVERVIEW
                        TABLE 148 TM4: PRODUCTS OFFERED
             17.1.13 GEMMOTORS
                        TABLE 149 GEMMOTORS: BUSINESS OVERVIEW
                        TABLE 150 GEMMOTORS: PRODUCTS OFFERED
     *Details on Overview, Product offerings, Recent developments & MnM View might not be captured in case of unlisted companies. 
     17.2 OTHER KEY PLAYERS
             17.2.1 GENERAL MOTORS
                        TABLE 151 GENERAL MOTORS: BUSINESS OVERVIEW
             17.2.2 TESLA
                        TABLE 152 TESLA: BUSINESS OVERVIEW
             17.2.3 FORD MOTOR COMPANY
                        TABLE 153 FORD MOTOR COMPANY: BUSINESS OVERVIEW
             17.2.4 VOLKSWAGEN
                        TABLE 154 VOLKSWAGEN: BUSINESS OVERVIEW
             17.2.5 BMW
                        TABLE 155 BMW: BUSINESS OVERVIEW
             17.2.6 DAIMLER
                        TABLE 156 DAIMLER AG: BUSINESS OVERVIEW
             17.2.7 VOLVO
                        TABLE 157 VOLVO: BUSINESS OVERVIEW
             17.2.8 MITSUBISHI MOTORS
                        TABLE 158 MITSUBISHI MOTORS: BUSINESS OVERVIEW
             17.2.9 TOYOTA
                        TABLE 159 TOYOTA: BUSINESS OVERVIEW
             17.2.10 HONDA
                        TABLE 160 HONDA: BUSINESS OVERVIEW
             17.2.11 HYUNDAI
                        TABLE 161 HYUNDAI: BUSINESS OVERVIEW
             17.2.12 NISSAN
                        TABLE 162 NISSAN: BUSINESS OVERVIEW

18 APPENDIX (Page No. - 184)
     18.1 KEY INSIGHTS OF INDUSTRY EXPERTS
     18.2 DISCUSSION GUIDE
     18.3 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
     18.4 AVAILABLE CUSTOMIZATIONS
     18.5 RELATED REPORTS
     18.6 AUTHOR DETAILS

The study involved four major activities in estimating the current size of the in-wheel motor market. Exhaustive secondary research was done to collect information on the market, the peer market, and the parent market. The next step was to validate these findings, assumptions, and sizing with the industry experts across value chains through primary research. The top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter, market breakdown and data triangulation processes were used to estimate the market size of segments and subsegments.

Secondary Research

In the secondary research process, various secondary sources such as company annual reports/presentations, press releases, industry association publications. Some of the secondary sources referred include the European Alternative Fuel Observatory (EAFO), MarkLines, the Alternative Fuels Data Center (AFDC), corporate filings (such as annual reports, investor presentations, and financial statements), and trade, business, and automotive associations. Secondary data was collected and analyzed to arrive at the overall market size, which is further validated by primary research.

Primary Research

Extensive primary research was conducted after acquiring an understanding of the In-wheel motor market scenario through secondary research. Several primary interviews were conducted with market experts from both the demand-side [vehicle manufacturers (in terms of component supply), country-level government associations, and trade associations] and supply-side (OEMs and component manufacturers) players across three major regions, namely, North America, Europe, and Asia Pacific. 28% and 72% of primary interviews were conducted from the demand and supply side, respectively. Primary data was collected through questionnaires, e-mails, and telephonic interviews. In the canvassing of primaries, we have strived to cover various departments within organizations, such as sales, operations, and administration, to provide a holistic viewpoint in our report.
After interacting with industry experts, brief sessions were conducted with highly experienced independent consultants to reinforce the findings from our primaries. This, along with the in-house subject-matter experts’ opinions, has led to the findings as described in the remainder of this report.

In-Wheel Motor Market Size, and Share

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

A detailed market estimation approach including bottom-up and top-down approach was followed to estimate and validate the value of the global in-wheel motor market and other dependent submarkets, as mentioned below:

  • Key players in the global in-wheel motor market were identified through secondary research, and their global market shares were determined through primary and secondary research.
  • The research methodology included the study of the annual and quarterly financial reports & regulatory filings of major market players as well as interviews with industry experts for detailed market insights.
  • All major penetration rates, percentage shares, splits, and breakdowns for the global in-wheel motor market were determined by using secondary sources and verified through primary sources.
  • All key macro indicators affecting the revenue growth of the market segments and subsegments were accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the validated and verified quantitative & qualitative data.
  • The gathered market data was consolidated and added with detailed inputs, analyzed, and presented in this report

Data Triangulation

After arriving at the overall market size—using the market size estimation processes as explained above—the market was split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, data triangulation, and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides.

Report Objectives

  • To segment and forecast the global in-wheel motor market size, in terms of volume (units) and value (USD million)
  • To define, describe, and forecast the global market based on motor type, propulsion type, vehicle type, power output, cooling type, component, motor weight, vehicle class, and region
  • To segment and forecast the global market size by motor type (Radial Flux Motor and Axial Flux Motor)
  • To segment and forecast the global market size by propulsion type (Hybrid Electric Vehicle (HEV), Plug-in Hybrid Electric Vehicle (PHEV), Fuel Cell Electric Vehicle (FCEV), and Battery Electric Vehicle (BEV))
  • To segment and forecast the in-wheel motor market size by vehicle type (Passenger Cars and Commercial Vehicles)
  • To segment and forecast the market size by power output type (Up to 60 kW, 60–90 kW, and Above 90 kW)
  • To segment and forecast the global market size by cooling type (Air-cooled In-wheel Motor and Liquid-cooled In-wheel Motor)
  • To segment and forecast the global market size by vehicle class (Mid-priced and Luxury)
  • To define and describe the in-wheel motor market by motor weight (Less than 20 kg, 20–30 kg, and Above 30 kg)
  • To define and describe the global market by component (Suspension, Stator & Rotor, Wheel Bearings, and Regenerative Braking System)
  • To forecast the global market size with respect to key regions, namely, North America, Europe, and Asia Pacific
  • To provide detailed information regarding the major factors influencing the market growth (drivers, challenges, restraints, and opportunities)
  • To strategically analyze markets with respect to individual growth trends, prospects, and contribution to the total market
  • To analyze the opportunities for stakeholders and details of the competitive landscape for market leaders
  • To strategically profile key players and comprehensively analyze their market shares and core competencies
  • To analyze recent developments partnerships, product innovations, and mergers & acquisitions in the market

Available Customizations

Along with the market data, MarketsandMarkets offers customizations in line with company-specific needs.

  • In-wheel motor market, by vehicle type, at the country-level (For countries covered in the report)
  • In-wheel motor market, by motor weight, at the region-level (For regions covered in the report)
  • In-wheel motor market, by vehicle class, at the region-level (For regions covered in the report)

Company information

  • Profiles of additional market players (Up to five)
Report Code
AT 6559
Published ON
Oct, 2021
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