Automotive In-wheel Motor Market by Technology, Drive Type, and Geography - Forecast and Analysis 2021-2025

  • Published: Aug 2021
  • Pages: 120
  • SKU: IRTNTR45395
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The automotive in-wheel motor market has the potential to grow by 476.47 thousand units during 2021-2025, and the market’s growth momentum will accelerate at a CAGR of 89.59%.

This automotive in-wheel motor market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation by technology (direct drive and gear reduction), drive type (rear-wheel drive, front-wheel drive, and all-wheel drive), and geography (APAC, Americas, and EMEA). The automotive in-wheel motor market report also offers information on several market vendors, including Daimler AG, ECOmove GmbH, e-Gle Co. Ltd., Elaphe Propulsion Technologies Ltd., GEM motors d.o.o, Michelin Group, Nidec Corp., NSK Ltd., Protean Electric Ltd., and REE Automotive Ltd. among others.

What will the Automotive In-wheel Motor Market Size be in 2021?

Automotive-In-wheel-Motor-Market-Market-Size-2020-2025

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Automotive In-wheel Motor Market: Key Drivers and Trends

Based on our research output, there has been a negative impact on the market growth during and post COVID-19 era. The increased need for safety and handling efficiency in vehicles is notably driving the automotive in-wheel motor market growth, although factors such as the high cost of production associated with automotive in-wheel motors may impede market growth. To unlock information on the key market drivers and the COVID-19 pandemic impact on the automotive in-wheel motor industry get your FREE report sample now.

  • The increased need for safety and handling efficiency in vehicles will fuel the growth of the automotive in-wheel motor market.
  • Vehicle makers are keen on offering many driver-assist features in electric vehicles to augment their utility and improve sales.
  • The deployment of in-wheel motors in electric vehicles will allow manufacturers to offer a higher number of quick-response driver-assist and safety features n vehicles.
  • The use of in-wheel motors will give electric vehicles more space in the chassis for accommodating a bigger battery or cargo. A bigger battery can increase the performance range of an electric vehicle and give it an edge over competitors. 
  • Due to its proximity and direct connection to the wheels, in-wheel motors require only the right software to activate traction and stability control. This design significantly increases response time, complementing safety and handling qualities. 
  • The modular design of automotive in-wheel motors allowing easier fitment on vehicles will drive automotive in-wheel motor market growth.
  • In-wheel motors offer a modular-like design that does not require any significant alterations in a vehicle or in the driveline design.
  • The design of automotive in-wheel motors allows torque to be transferred instantly onto the wheels with very little loss of energy. This ensures the optimal performance of a vehicle in terms of acceleration, which may even surpass the acceleration capabilities of conventional engines and battery-powered vehicles.
  • Vehicle makers developing performance-oriented vehicles would prefer automotive in-wheel motors as they offer improved acceleration without power losses and also can be fitted in existing models without the need to alter the design a lot.
  • The modular-like designing approach adopted by vendors for designing automotive in-wheel motors ensures easier fitment of these propulsion systems in existing vehicle models. 

This automotive in-wheel motor market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. Get detailed insights on the trends and challenges, which will help companies evaluate and develop growth strategies.

Who are the Major Automotive In-wheel Motor Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • Daimler AG
  • ECOmove GmbH
  • e-Gle Co. Ltd.
  • Elaphe Propulsion Technologies Ltd.
  • GEM motors d.o.o
  • Michelin Group
  • Nidec Corp.
  • NSK Ltd.
  • Protean Electric Ltd.
  • REE Automotive Ltd.

 

The automotive in-wheel motor market is fragmented and the vendors are deploying various organic and inorganic growth strategies to compete in the market. Click here to uncover other successful business strategies deployed by the vendors. 

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

Download a free sample of the automotive in-wheel motor market forecast report for insights on complete key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

Which are the Key Regions for Automotive In-wheel Motor Market?

Automotive-In-wheel-Motor-Market-Market-Share-by-Region-2020-2025

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87% of the market’s growth will originate from APAC during the forecast period. China, Japan, and South Korea (Republic of Korea) are the key markets for automotive in-wheel motors in APAC. However, the market growth rate in APAC will be slower than the growth of the market in EMEA and the Americas.

To garner further competitive intelligence and regional opportunities in store for vendors, view our sample report.

What are the Revenue-generating Technology Segments in the Automotive In-wheel Motor Market?

Automotive-In-wheel-Motor-Market-Market-Share-by-Technology-2020-2025

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The automotive in-wheel motor market share growth by the direct drive segment will be significant during the forecast period. The direct drive system is the most common motor type found in in-wheel electric motors. Most in-wheel motor manufacturers are replacing gear reducers with direct drive motors. The use of direct drive motors in automotive in-wheel motors is preferred as they decrease vehicle weight, eliminate noise, enhance operational efficiency by eliminating mechanical losses, and offer higher durability.

Fetch actionable market insights on post COVID-19 impact on each segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the automotive in-wheel motor market size.

 

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What are the Key Factors Covered in this Automotive In-wheel Motor Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive automotive in-wheel motor market growth during the next five years
  • Precise estimation of the automotive in-wheel motor market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the automotive in-wheel motor industry across APAC, Americas, and EMEA
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of automotive in-wheel motor market vendors

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Automotive In-wheel Motor Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 90%

Market growth 2021-2025

476.47 th units

Market structure

Fragmented

YoY growth (%)

59.71

Regional analysis

APAC, Americas, and EMEA

Performing market contribution

APAC at 87%

Key consumer countries

China, Japan, US, South Korea (Republic of Korea), and Germany

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

Daimler AG, ECOmove GmbH, e-Gle Co. Ltd., Elaphe Propulsion Technologies Ltd., GEM motors d.o.o, Michelin Group, Nidec Corp., NSK Ltd., Protean Electric Ltd., and REE Automotive Ltd.

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period,

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
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TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
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TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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The automotive in-wheel motor market growth will increase by $400.99 thousand units during 2019-2024.
The automotive in-wheel motor market is expected to grow at a CAGR of 89.01% during 2019-2024.
Technavio has segmented the automotive in-wheel motor market by technology (Direct drive and Gear reduction) ,other1 (Rear-wheel drive, Front-wheel drive, and All-wheel drive) , and geographic (APAC, Americas, and EMEA).
ECOmove GmbH, Elaphe Propulsion Technologies Ltd., Hyundai Mobis Co. Ltd., Michelin Group, Nidec Corp., NSK Ltd., NTN Corp., Protean Electric Ltd., Schaeffler AG, Dana Inc. are a few of the key vendors in the automotive in-wheel motor market.
APAC will register the highest growth rate of 89.66% among the other regions. Therefore, the automotive in-wheel motor market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
The key factors driving the automotive in-wheel motor market growth are:
  • Increased need for safety and handling efficiency in vehicles
The automotive in-wheel motor market vendors should focus on grabbing business opportunities from the direct drive segment as it accounted for the largest market share in the base year.
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