North America to be the Fastest Growing Region in the In-Wheel Motor Market During the Forecast Period

Tue, 01 October 2019 11:45

An in-wheel motor, also known as a hub motor, wheel hub, or an electric hub, is an electric motor attached to the wheels of an automobile, designed to drive the wheel directly with higher efficiency. It is used to improve the performance of the electric vehicle and helps supply torque to the associated tire and produces more power in order to improve efficiency. Additionally, government support for electric vehicles and increasing driving range are expected to drive the growth of the in-wheel motor market.

In-wheel motor is integrated with wheel bearing and hub which provides flexibility to both fronts as well as a rear wheel at low cost. It offers high torque, increased power, enhanced fuel efficiency, and better handling of both new and existing vehicles. Various government regulations, including incentives and tax rebate, are expected to fuel the adoption of electric vehicles, which in turn will fuel the growth of the in-wheel market in the coming years. On the flip side, high price and high unsprung weight in the wheel are expected to restrain the growth of the in-wheel motor market to some extent.

Regional Insights

Geographically, the in-wheel motor market has been segmented into North America, Europe, Asia Pacific, and Latin America and the Middle East & Africa (LAMEA).

North America is expected to emerge as the fastest growing region in the global in-wheel motor market, owing to the presence of various electric vehicle manufacturers, including Tesla and GM. Most of the leading manufacturers are focusing on developing faster, cleaner, and high-performance electric vehicles. In line with this, leading OEMs in the U.S., such as BMW, Volkswagen, Nissan, and Daimler have launched electric vehicles nationwide. 

Europe is expected to experience significant growth during the forecast period, owing to the region’s focus on energy efficiency, primarily as a result of the European Minimum Energy Performance Standard (MEPS) scheme. In the last few years, the in-wheel motor industry has changed drastically, against a backdrop of various acquisitions involving not only production facilities in Eastern and Central European countries but also facility locations in other European Countries.

Asia Pacific is expected to hold a considerable market share in the global in-wheel motor market, owing to the presence of emerging countries such as India, China, and others, which is expected to boost the demand for electric vehicles. The increasing demand for electric vehicles in the region is projected to positively impact market growth.

The LAMEA region is expected to witness sluggish growth, owing to poor infrastructure, low spending on research and development, limited availability of funds, and low per capita income, especially in African countries. On the other hand, the electric vehicle market in Latin America is expected to experience healthy growth during the forecast period as a number of activities around pilot programs such as electric vehicle fleet are in the pipeline. Moreover, the region is expected to register sound growth, with the availability of numerous untapped opportunities.

Segment Insights

The in-wheel motor market can be segmented by propulsion, vehicle type, motor type, cooling type, and power output type.

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Based on propulsion, the in-wheel motor market has been segmented into BEV, FCEV, HEV, and PHEV. The fuel cell electric vehicle (FCEV) segment is expected to experience the highest growth in the electric vehicle market, owing to favorable government policies such as subsidies and rebate. Additionally, expanding vehicle range and improving charging infrastructure are likely to propel the demand for battery electric vehicles. Moreover, the introduction of super-fast chargers is anticipated to enable an electric vehicle to be fully charged in less than an hour.

In terms of vehicle type, the in-wheel motor market has been segmented into passenger cars and commercial vehicles. Passenger cars is expected to be the fastest growing segment in the global in-wheel motor market due to the increasing demand for fuel-efficient vehicles and increasing environmental awareness among consumers.

By motor type, the in-wheel motor market can be segmented into axial flux motors and radial flux motors. Radial flux is expected to be the fastest growing segment in the in-wheel motor market as these rotors can be directly fixed onto the wheel. Additionally, the outer rotor design of a radial flux motor is lighter than the inner rotor machine, which produces the same torque, due to its longer air gap diameter. Most in-wheel motors are radial, owing to the integration benefits, durability, and torque density.

In terms of cooling type, the market can be segmented into, air cooling, and liquid cooling. The liquid cooling system segment is expected to gain considerable traction in the market. Liquid cooling in-wheel motors are perfectly engineered and suited for electric vehicles as compared to other cooling systems. For instance, an air cooling system needs 2 to 3 times more energy than other solutions, while a fan cooling system adds about 40% extra weight to the cell.

On the basis of power output type, the market can be segmented into up to 60 KW, 60–90 KW, and above 90 KW. 60–90 KW power output batteries are expected to gain significant traction, owing to their adoption in electric vehicles.

In-Wheel Motor Market Segmentation

By Propulsion

  • BEV
  • FCEV
  • HEV
  • PHEV Magnesium
  • Others

By Vehicle Type

  • Passenger Cars
  • Commercial Vehicles

By Motor Type

  • Axial Flux Motors
  • Radial Flux Motors

By Cooling Type

  • Air Cooling
  • Liquid Cooling

By Power Output Type

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

Regions Covered:

North America

  • U.S.
  • Canada
  • Mexico

Europe

  • U.K.
  • Germany
  • France
  • Italy
  • Spain
  • Rest of Europe

Asia-Pacific

  • China
  • India
  • Japan
  • South Korea
  • Australia
  • Rest of Asia-Pacific

Latin America

  • Brazil
  • Argentina
  • Colombia
  • Rest of Latin America

MEA

  • Saudi Arabia
  • South Africa
  • UAE
  • Rest of LAMEA

" Crucial Insights The Report Provides:"

* Known and Unknown Adjacencies Influencing the Growth of Market

* Explorable Revenue Sources

* Customer Behaviour Analysis

* Target Partners

* Customized Geographical Data Based on Customers as well as Competitors

* Analysis of Market Size and CAGR between the Forecast Periods

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