In-wheel Motors Market Analysis
The In-Wheel Motor Market is at the forefront of automotive electrification, presenting a disruptive shift in traditional vehicle propulsion systems. In-wheel motors are integrated directly into the wheels of a vehicle, eliminating the need for a centralized drivetrain and transmission components. This innovative design offers several advantages, including improved efficiency, reduced energy losses, and enhanced flexibility in vehicle design. As electric vehicles (EVs) gain momentum, in-wheel motors are becoming a focal point for automakers and technology developers aiming to optimize performance and simplify electric drivetrains.
In-wheel motor electric vehicles (IWM EVs) are a type of electric vehicle that uses electric motors mounted inside the wheels to propel the vehicle. This is in contrast to traditional EVs, which use a single electric motor mounted under the hood or in the trunk to drive the wheels through a transmission.
The market's growth is driven by the increasing demand for electric mobility solutions and the pursuit of more compact and lightweight electric vehicles. In-wheel motors contribute to better handling, increased interior space, and potentially enhanced safety through improved weight distribution. Additionally, as advancements in motor technology continue, addressing challenges such as heat dissipation and cost-effectiveness, the In-Wheel Motor Market is poised for significant expansion, offering a key solution to the evolving landscape of electric and autonomous vehicles.
IWM EVs offer a number of advantages over traditional EVs. First, they are more efficient. In-wheel motors can directly drive the wheels without the need for a transmission, which reduces energy losses. Second, IWM EVs have better traction and handling. The motors are located directly at the wheels, which provides better power distribution and control. Third, IWM EVs have more interior space. Because there is no need for a transmission or engine under the hood, IWM EVs have more space for passengers and cargo.
However, IWM EVs also have some disadvantages. First, they are more expensive to manufacture than traditional EVs. Second, they are more difficult to repair and maintain. Third, they have a shorter range than traditional EVs. This is because the in-wheel motors take up space that could otherwise be used for batteries.
Overall, IWM EVs are a promising new technology with a number of advantages over traditional EVs. However, they are still in their early stages of development and need to be improved before they can become mainstream.
Here are some of the potential benefits of IWM EVs:
- Improved efficiency: IWM EVs can directly drive the wheels without the need for a transmission, which reduces energy losses.
- Better traction and handling: The motors are located directly at the wheels, which provides better power distribution and control.
- More interior space: Because there is no need for a transmission or engine under the hood, IWM EVs have more space for passengers and cargo.
- Reduced noise and vibration: In-wheel motors are quieter and less vibration-prone than traditional engines.
- Improved safety: In-wheel motors can help to improve safety by providing better traction and handling, as well as by reducing the risk of rollover accidents.
Here are some of the challenges that need to be addressed before IWM EVs can become mainstream:
- Cost: IWM EVs are more expensive to manufacture than traditional EVs.
- Maintenance: IWM EVs are more difficult to repair and maintain than traditional EVs.
- Range: IWM EVs have a shorter range than traditional EVs.
- Weight: In-wheel motors are heavier than traditional engines, which can reduce the overall range and performance of the vehicle.
The global in-wheel motors market size will develop at a 32.31% CAGR between the forecast period 2022- 2030, according to the new Market Research Future (MRFR) analysis. In-wheel motors are a form of electric vehicle driven system. The motors are mounted on the wheel directly to energize the wheel directly via supplying the torque to the associated tires.
On the contrary, an increase in unsprung weight in wheel, high price, complex speed wheel, and the on-going COVID-19 pandemic are factors that may deter the global in-wheel motors market growth in the region.
Various factors are propelling the global in-wheel motors market share. According to the recent MRFR market estimates, such factors include innovations in vehicle development, latest vehicle dynamics, autonomous driving, advances in-wheel motor technology, rising production of electric cars, increasing penetration in EVs, increasing environmental awareness such as noise and air pollution, degradation of naturally occurring resources, and global warming, stringent emission regulations, the growing popularity of energy-efficient products, and implementation to reduce vehicle weight by deducting the space that the machines occupy.
In-wheel Motors Market Key Players
- Schaeffler AG (Germany)
- Nissan Motors Corporation (Japan)
- Tesla (US)
- e-Traction B.V. (Netherlands)
- Printed Motors Works (UK)
- ZIEHL-ABEGG (Germany)
- Elaphe Ltd (Slovenia)
- NTN Corporation (Japan)
In-wheel Motors Market Segmentation
The MRFR report highlights an inclusive segmental analysis of the global in-wheel motors market based on cooling type, vehicle type, power output, and motor type.
- By motor type, the global in-wheel motors market is segmented into outer rotor type and inner rotor type.
- By power output, the global in-wheel motors market is segmented into above 90 KW, 50-90 KW, and up to 50 KW.
- By vehicle type, the global in-wheel motors market is segmented into heavy commercial vehicles, light commercial vehicles, and passenger cars. Of these, the passenger cars segment will lead the market over the forecast period.
In-wheel Motors Market Regional Analysis
By region, the in-wheel electric motors market covers the growth opportunity and recent trends across Europe, North America, the Asia Pacific (APAC), & the Middle East and Africa (MEA). Of these, Europe will have the lion's share in the market over the forecast period. Investments by top vehicle OEMs, and stringent emission norms and regulations are adding to the global in-wheel electric motors market growth in the region.
In the APAC region, the in-wheel electric motors market is predicted to have healthy growth over the forecast period. Favorable government incentives and schemes, rising sales of electric cars, significant production of electric cars in Japan, China, and India, and the growing need for cost-effective and efficient alternatives for conventional cars are adding to the global in-wheel electric motors market growth in the region.
In North America, the in-wheel electric motors market is predicted to have sound growth over the forecast period. Adoption of advanced technologies to make efficient and lightweight cars, rising investments by OEMs in the research and development department to make in-wheel motors free from dirt and shocks, and capability to improve car efficiency to eliminate mechanical components and reduce wear and tear are adding to the global in-wheel electric motors market growth in the region.
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