In-Wheel Motor Market

Market Leaders - In-Wheel Motor Market

The global in-wheel motor market is projected to grow at a CAGR of 35.02% during the forecast period to reach USD 2,641.1 million by 2025 from an estimated USD 322.8 million in 2018. The base year for the report is 2017, and the forecast period is from 2018 to 2025. The growth of the 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 can 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.

New product launches and developments were the most dominant strategies adopted by the automotive in-wheel motor market players to cater to the growing demand from customers. NTN (Japan), Elaphe (Solvenia), Schaeffler (Germany), NSK (Japan), and ECOmove (Germany) were the auto OEMs that have adopted these strategies. In May 2018, Elaphe launched the second-generation Elaphe L1500 in-wheel motor at the Electric & Hybrid Vehicle Technology Expo show.

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Agreements, partnerships, collaborations, and joint ventures were the second most dominant strategies adopted by key market players to achieve growth in the in-wheel motor market. Automobile manufacturers such as Protean Electric (US), Elaphe (Solvenia), ZIEHL-ABEGG (Germany), Printed Motor Works (Hampshire), and NTN (Japan) are the major companies that adopted these strategies. For instance, in April 2018, NTN developed the air-cooled in-wheel motor driving system and vehicle motion control system. It would provide technical support to the FSAT, which in turn will produce lightweight New Energy Vehicles (NEVs) that adopt the in-wheel motor driving system.

Protean is one of the leading players of the global in-wheel motor market. The company is continuously delivering innovative technologies for in-wheel motors. Additionally, it is known for the high rate of innovation in in-wheel motors.

Another important player in the industry is Elaphe, which is the second largest player of the in-wheel motor market, followed by ZIEHL-ABEGG, Printed Motor Works, and NTN. Elaphe’s motor uses electromagnetic topology, which integrates new solutions into in-wheel motors. The main advantages of Elaphe’s in-wheel motors are high torque capability, high efficiency, and efficient cooling.

NTN is continuously expanding its product portfolio of in-wheel motors. In 2017, NTN developed the industry's first “eHUB,” which combines a motor generator with a hub bearing used to support wheel rotation.

Related Reports:

In-Wheel Motor Market by Propulsion (BEV, HEV, PHEV, and FCEV), Vehicle (PC and CV), Motor (Axial Flux and Radial Flux), Cooling (Air and Liquid), Power Output (Up to 60 KW, 60–90 KW, and Above 90 Kw), and Region - Global Forecast to 2025

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Report Code
AT 6559
RI Published ON
8/28/2018
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