Market Research Report

In-wheel motor Market

In-wheel motor Market Research Report: Size, Share, Trend Analysis By Propulsion Type (BEV, FCEV, PHEV), By Cooling Type (Air Cooling, Liquid Cooling), By Motor Type (Axial Flux Motor, Radial Flux Motor), By Vehicle Type (Passenger Cars, Commercial Vehicles), By Power Output (Up to 60 KW, 60-90 KW, Above 90 KW) and By Region (North America, Europe, Asia Pacific, Rest of the World) - Growth Outlook & Industry Forecast To 2027

Vertical: AutoBase Year: 2020

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Executive Summary

In-wheel motor Market — Snapshot

  • Market Size (2020)

    $3.65B

  • Projected (2027)

    $24.28B

  • CAGR (2019–2027)

    30.5%

  • Key Players

    12+

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.

Based on propulsion type, the global market has been segmented into BEV, FCEV, and PHEV. In 2020, the BEV segment accounted for the largest market share of 57.5%, with a market value of USD 2,097.5 million. It is projected to register a 34.38% CAGR during the projected timeframe.

Based on cooling type, the global market has been segmented into air cooling and liquid cooling. In 2020, the liquid-cooling segment accounted for the largest market share of 64.1%, with a market value of USD 2,339.9 million. It is projected to register a 29.14% CAGR over the forecast period.

Based on motor type, the global market has been segmented into axial flux motor and radial flux motor. In 2020, the radial flux motor segment accounted for the largest market share of 54.4%, with a market value of USD 1,986.8 million. It is projected to register a 26.08% CAGR during the projected timeframe.

Based on vehicle type, the global market has been segmented into passenger cars and commercial vehicles. In 2020, the passenger cars segment accounted for a considerable market share of 89.5%, with a market value of USD 3,266.5 million. It is projected to register a 32.91% CAGR over the forecast period.

Based on power output, the global market has been segmented into up to 60 KW, 60-90 KW, and above 90 KW. In 2020, the 60-90 KW segment accounted for the largest market share of 47.4%, with a market value of USD 1,730.7 million. It is projected to register a 32.85% CAGR during the projected timeframe.

On the basis of region, in 2020, Asia-Pacific accounted for the largest market share of 42.9% with a market value of USD 1,565.8 million. It is projected to register a 34.89% CAGR over the projected period.

Key Insight

The In-wheel motor Market market is projected to grow at a CAGR of 30.5% from 2019 to 2027.

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Market Scope & Coverage

What this report covers

  • Geographic Coverage: This analysis covers 4 regions: North America, Europe, Asia Pacific, Rest of the World.
  • Market Segmentation: The market is analyzed across 3 segments: BEV, PHEV, FCEV. Forecasts are provided for each segment from 2019 to 2027.
  • Competitive Landscape: 12 leading companies are profiled, covering market positioning, strategies, and recent developments.

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In-wheel motor Market

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